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How Does the Global Economic Environment Influence the Demand for IMF Resources

Elekdag, Selim - International Monetary Fund (IMF) - 2006

The main objective of this paper is to quantify the relationship between the global economic environment and the number of Stand-By Arrangements (SBAs). The results suggest that oil prices, world interest rates, and the global business cycle are the most influential indicators that affect the...

Persistent link: https://www.econbiz.de/10005604884

A Quantitative Examination of Current Account Dynamics in Equilibrium Models of Barter Economies

Mendoza, Enrique G. - International Monetary Fund (IMF) - 1992

This paper provides a numerical analysis of an intertemporal equilibrium model of a small open, barter economy that is subject to random shocks affecting endowments, the terms of trade, and the real interest rate. Equilibrium stochastic processes for macroeconomic aggregates are computed and...

Persistent link: https://www.econbiz.de/10005605153

The Dynamic Implications of Foreign Aid and its Variability

Lane, Timothy D.; Lipschitz, Leslie; Arellano, Cristina; … - International Monetary Fund (IMF) - 2005

The paper examines the effects of aid and its volatility on consumption, investment, and the structure of production in the context of an intertemporal two-sector general equilibrium model. A permanent flow of aid finances mainly consumption, a result consistent with the historical failure of...

Persistent link: https://www.econbiz.de/10005605310

The Optimal Level of International Reserves for Emerging Market Countries; Formulas and Applications

Ranciere, Romain; Jeanne, Olivier - International Monetary Fund (IMF) - 2006

We present a model of the optimal level of international reserves for a small open economy that is vulnerable to sudden stops in capital flows. Reserves allow the country to smooth domestic absorption in response to sudden stops, but yield a lower return than the interest rate on the country's...

Persistent link: https://www.econbiz.de/10005826236

From Stress to Costress; Stress Testing Interconnected Banking Systems

Maino, Rodolfo; Tintchev, Kalin - International Monetary Fund (IMF) - 2012

This paper presents an integrated framework for assessing systemic risk. The framework models banksâ€™ capital asset ratios as a function of future losses and credit growth using a generalized method of moments to calibrate shocks to credit quality and credit growth. The analysis is...

Persistent link: https://www.econbiz.de/10009654147

Shocks, Financial Dependence, and Efficiency; Evidence From U.S. and Canadian Industries

Estevão, Marcello M.; Severo, Tiago - International Monetary Fund (IMF) - 2011

The paper investigates how changes in industries' funding costs affect total factor productivity (TFP) growth. Based on panel regressions using 31 U.S. and Canadian industries between 1991 and 2007, and using industries' dependence on external funding as an identification mechanism, we show that...

Persistent link: https://www.econbiz.de/10009293770

Sensitivity analysis of optimal model on building cooling heating and power system

Wang, Jiangjiang; Zhai, Zhiqiang; Jing, Youyin; Zhang, Xutao - In: Applied Energy 88 (2011) 12, pp. 5143-5152

The optimization of building cooling heating and power (BCHP) system is helpful to improve its comprehensive … presents the optimization problem of BCHP system that includes the decision variables, the objective function, the constraint … environmental parameters, the building loads and the optimization setting parameters, on the optimal decision variables and the …

Persistent link: https://www.econbiz.de/10010572092

Financial innovation, the Discovery of Risk, and the U.S. Credit Crisis

Mendoza, Enrique G.; Boz, Emine - International Monetary Fund (IMF) - 2010

Uncertainty about the riskiness of new financial products was an important factor behind the U.S. credit crisis. We show that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dynamics of a model with a collateral constraint in which agents learn "by...

Persistent link: https://www.econbiz.de/10008560424

Overborrowing, Financial Crises and â€˜Macro-Prudentialâ€™ Policy?

Mendoza, Enrique G.; Bianchi, Javier - International Monetary Fund (IMF) - 2011

This paper studies overborrowing, financial crises and macro-prudential policy in an equilibrium model of business cycles and asset prices with collateral constraints. Agents in a decentralized competitive equilibrium do not internalize the negative effects of asset fire-sales on the value of...

Persistent link: https://www.econbiz.de/10008839333

Economic analysis and optimal energy management models for microgrid systems: A case study in Taiwan

Chen, Yen-Haw; Lu, Su-Ying; Chang, Yung-Ruei; Lee, Ta-Tung - In: Applied Energy 103 (2013) C, pp. 145-154

The purpose of this research is to perform economic analysis, formulate an optimization model, and determine optimal …, photovoltaic power, and wind power generation systems. Sensitivity analyses of investment in storage capacity and growth in …

Persistent link: https://www.econbiz.de/10010603060