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The Eurozone Crisis; How Banks and Sovereigns Came to Be Joined At the Hip
Sandri, Damiano; Mody, Ashoka - International Monetary Fund (IMF) - 2011
We use the rise and dispersion of sovereign spreads to tell the story of the emergence and escalation of financial tensions within the eurozone. This process evolved through three stages. Following the onset of the Subprime crisis in July 2007, spreads rose but mainly due to common global...
Persistent link: https://www.econbiz.de/10009370546
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Credit Growth and Bank Soundness; Fast and Furious?
Igan, Deniz; Pinheiro, Marcelo - International Monetary Fund (IMF) - 2011
We examine the risks to bank soundness associated with credit booms in a large set of countries. Using bank-level data in 90 countries between 1995 and 2005, we analyze the relationship between credit growth and bank soundness taking into account the potential two-way causality. We find that,...
Persistent link: https://www.econbiz.de/10009370547
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The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland
Zanna, Luis-Felipe; Basdevant, Olivier; Yang, Susan; … - International Monetary Fund (IMF) - 2011
Botswana, Lesotho, Namibia, and Swaziland face the serious challenge of adjusting not only to lower Southern Africa Customs Union (SACU) transfers because of the global economic crisis, but also to a potential further decline over the medium term. This paper assesses options for the design of...
Persistent link: https://www.econbiz.de/10009370552
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Inflation Dynamics in Asia; Causes, Changes, and Spillovers From China
Osorio, Carolina; Unsal, D. Filiz - International Monetary Fund (IMF) - 2011
The perception that Asia's inflation dynamics is driven by idiosyncratic supply shocks implies, as a corollary, that there is little scope for a policy reaction to a build-up of inflationary pressures. However, Asia's fast growth and integration over the last two decades suggest that the drivers...
Persistent link: https://www.econbiz.de/10009370554
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Determinants of Property Prices in Hong Kong SAR; Implications for Policy
Craig, R. Sean; Hua, Changchun - International Monetary Fund (IMF) - 2011
This paper uses an econometric model of residential property prices in Hong Kong SAR to assess the effectiveness of … alternative policies in slowing the increase in property prices. The rapid rise in property prices is well explained by … and stamp duty dampen speculative activity that drives up property prices. While these policies can slow the increase in …
Persistent link: https://www.econbiz.de/10009370558
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The Puzzle of Persistently Negative Interest Rate-Growth Differentials; Financial Repression or Income Catch-Up?
Shabunina, Anna; Escolano, Julio; Woo, Jaejoon - International Monetary Fund (IMF) - 2011
The interest rate-growth differential (IRGD) shows a marked correlation with GDP per capita. It has been on average around 1 percentage point for large advanced economies during 1999-2008; but below -7 percentage points among non-advanced economies - exerting a powerful stabilizing influence on...
Persistent link: https://www.econbiz.de/10009370559
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Low-Income Countries' BRIC Linkage; Are there Growth Spillovers?
Samaké, Issouf; Yang, Yongzheng - International Monetary Fund (IMF) - 2011
both direct (FDI, trade, productivity, exchange rates) and indirect (global commodity prices, demand, and interest rates …
Persistent link: https://www.econbiz.de/10009370561
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Market Discipline and Conflicts of Interest Between Banks and Pension Funds
Barajas, Adolfo; Catalán, Mario - International Monetary Fund (IMF) - 2011
We study the behavior of private pension funds as large depositors in a banking system. Using panel data analysis, we examine whether, and if so how, pension funds influence market discipline in Argentina in the period 1998-2001. We find evidence that pension funds exert market discipline and...
Persistent link: https://www.econbiz.de/10009370562
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A model for calculating costs of hospital‐acquired infections: an Italian experience
Gianino, M.M.; Vallino, A.; Minniti, D.; Abbona, F.; … - In: Journal of Health Organization and Management 21 (2007) 1, pp. 39-53
Purpose – Many approaches on the economic aspect of hospital acquired infections (HAIs) have two major limitations: first, the lack of distinction between resources attributable to the management of HAI and resources absorbed by the main clinical problem for which the patient was hospitalized,...
Persistent link: https://www.econbiz.de/10014872050
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Analysis of bilateral trade liberalization and South Asian Free Trade Agreement (SAFTA) on Pakistan's economy by using CGE model
Shaikh, Faiz M. - In: Journal of International Trade Law and Policy 8 (2009) 3, pp. 227-251
Purpose – The purpose of this paper is to quantify and analyze the relative impact of agriculture Trade liberalization and South Asian Free Trade Agreement (SAFTA) over the global economic welfare. The objectives are to analyze and quantify the potential economic cost and benefits of the...
Persistent link: https://www.econbiz.de/10014879170