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Operational Risk; The Sting is Still in the Tail But the Poison Dependson the Dose

Jobst, Andreas - International Monetary Fund (IMF) - 2007

This paper investigates the generalized parametric measurement methods of aggregate operational risk in compliance with the regulatory capital standards for operational risk in the New Basel Capital Accord ("Basel II"). Operational risk is commonly defined as the risk of loss resulting from...

Persistent link: https://www.econbiz.de/10005768778

Benfordâ€™s Law and Macroeconomic Data Quality

Gonzalez-Garcia, Jesus; Pastor, Gonzalo C. - International Monetary Fund (IMF) - 2009

analysis shows that rejection of Benford's law may be unrelated to the quality of statistics, and instead may result from …This paper examines the usefulness of testing the conformity of macroeconomic data with Benford's law as indicator of … data quality. Most of the macroeconomic data series tested conform with Benford's law. However, questions emerge on the …

Persistent link: https://www.econbiz.de/10005769268

The Output Decline in the Aftermath of Reform; The Cases of Bulgaria, Czechoslovakia, and Romania

Ostry, Jonathan David; Borensztein, Eduardo; Demekas, … - International Monetary Fund (IMF) - 1992

This paper analyzes the declines in economic activity experienced by Bulgaria, the Czech and Slovak Federal Republic (CSFR), and Romania in the period since the initiation of market-oriented reforms in these countries. The paper reviews developments in the three countries and empirically...

Persistent link: https://www.econbiz.de/10005599534

Irrational Exuberance in the U.S. Housing Market; Were Evangelicals Left Behind?

Crowe, Christopher W. - International Monetary Fund (IMF) - 2009

channel using a popular internet measure of "prophetic activity" and a 9/11 event study. I also analyze survey data covering …

Persistent link: https://www.econbiz.de/10005825622

Pakistan; Report on the Observance of Standards and Codes: Data Module, Reassessment of Monetary Statistics; Response by the Authorities; and Detailed Assessment Using Quality Asse...

International Monetary Fund (IMF); International … - 2007

statistics. For the central bankâ€™s survey, it is recommended to revalue the State Bank of Pakistanâ€™s Fund positions and gold …

Persistent link: https://www.econbiz.de/10011243950

Jamaica; Selected Issues

International Monetary Fund (IMF); International … - 2008

Economic outcomes in Jamaica have fallen short of the authoritiesâ€™ objectives in recent years. As the government looks to reinvigorate its growth and debt reduction strategy, it is instructive to examine how exogenous shocks and other unanticipated developments can affect economic...

Persistent link: https://www.econbiz.de/10011245592

The Term Structure of Interest Rates and Monetary Policy During a Zero-Interest-Rate Period

Nagayasu, Jun - International Monetary Fund (IMF) - 2003

This paper empirically evaluates the validity of the term structure of interest rates in a low-interest-rate environment. Applying a time-series method to high-frequency Japanese data, the term-structure model is found to be useful for economic analysis only when interest rates are high. When...

Persistent link: https://www.econbiz.de/10005605419

Whose Inflation? a Characterization of the CPI Plutocratic Bias

Ley, Eduardo - International Monetary Fund (IMF) - 2001

Prais (1958) showed that the CPI computed by statistical agencies can be interpreted as a weighed average of household price indexes, the weight of each household determined by its total expenditures. We decompose the difference between the standard CPI and a democratically weighed index (i.e.,...

Persistent link: https://www.econbiz.de/10005263989

Procyclical Fiscal Policy; Shocks, Rules, and Institutions: A View From Mars

Manasse, Paolo - International Monetary Fund (IMF) - 2006

This paper assesses the roles of shocks, rules, and institutions as possible sources of procyclicality in fiscal policy. By employing parametric and nonparametric techniques, I reach the following four main conclusions. First, policymakers' reactions to the business cycle is different depending...

Persistent link: https://www.econbiz.de/10005825776

Government Spending, Rights, and Civil Liberties

International Monetary Fund (IMF); International … - 2000

for a sample of industrial and developing countries shows that government expenditures on defense, law and order, social … the law, and economic freedom. In particular, an increase in spending on law and order seems to improve the indicators of … rights and civil liberties, and lower budget deficits seem to improve property rights and equality before the law. Of great …

Persistent link: https://www.econbiz.de/10005825873