Imf Staff Papers Volume 48 No 3

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IMF Staff Papers, Volume 48, No. 3

Mr.Robert P. Flood
IMF Staff Papers Volume 48 No 3 Book PDF

Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
Page : 204 pages
File Size : 50,6 Mb
Release : 2002-01-18
Category : Business & Economics
ISBN : 9781451973792

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IMF Staff Papers, Volume 48, No. 3 by Mr.Robert P. Flood Pdf

This paper analyzes the financial implications of the 1956 crisis of nationalization of the Suez Canal by Egypt. It examines the regional distribution of public employment in Italy. The paper quantifies the impact of changes in the U.S. monetary policy on sovereign bond spreads in emerging market countries. Specifically, the paper explores empirically how country risk, as proxied by sovereign bond spreads, is influenced by U.S. monetary policy, country-specific fundamentals, and conditions in global capital markets. Modeling the IMF’s statistical discrepancy in the global current account is also discussed.

Imf Staff Papers 2001

Robert P. Flood
Imf Staff Papers 2001 Book PDF

Author : Robert P. Flood
Publisher : Unknown
Page : 35 pages
File Size : 49,6 Mb
Release : 2001-11-08
Category : Electronic
ISBN : 1451974612

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Imf Staff Papers 2001 by Robert P. Flood Pdf

This paper re-examines the issue of the existence of threshold effects in the relationship between inflation and growth, using new econometric techniques that provide appropriate procedures for estimation and inference. The threshold level of inflation above which inflation significantly slows growth is estimated at 1-3 percent for industrial countries and 11-12 percent for developing countries. The negative and significant relationship between inflation and growth, for inflation rates above the threshold level, is quite robust with respect to the estimation method, perturbations in the location of the threshold level, the exclusion of high-inflation observations, data frequency, and alternative specifications.

IMF Staff Papers, Volume 48, Special Issue, Transition Economies, How Much Progress?

Mr.Richard D. Haas,Ms.Ratna Sahay,Mr.Oleh Havrylyshyn
IMF Staff Papers Volume 48 Special Issue Transition Economies How Much Progress Book PDF

Author : Mr.Richard D. Haas,Ms.Ratna Sahay,Mr.Oleh Havrylyshyn
Publisher : International Monetary Fund
Page : 216 pages
File Size : 47,7 Mb
Release : 2002-04-25
Category : Business & Economics
ISBN : UCSD:31822029856812

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IMF Staff Papers, Volume 48, Special Issue, Transition Economies, How Much Progress? by Mr.Richard D. Haas,Ms.Ratna Sahay,Mr.Oleh Havrylyshyn Pdf

This chapter is the collection of eight papers on different aspects of the first 10 years of economic transition. Transition issues have appeared initially quite controversial. There have been controversies on the speed of reforms, privatization methods, the role and organization of government, the kind of financial system needed, etc. Although these controversies often have been ideological, they also reflect to a large extent the initial ignorance and unpreparedness of the economics profession with respect to the large. Resident representatives in transforming economies have had a unique opportunity to witness and participate in one of the most interesting and challenging events of the economics profession in the past 50 years: the transformation of centrally planned economies into market-based systems. The job is intellectually fascinating, frequently extremely rewarding, occasionally frustrating, however, never boring. The decline in cash revenue in Russia has been the key macroeconomic policy failure of the transition. This paper argues that the fall in cash compliance emerged when money printing was replaced with a method of budget financing that did not, in the short run, compromise the government's goals of low inflation, a stable exchange rate, and low interest rates, but which ultimately has led the government into a low cash revenue trap.

IMF Staff Papers, Volume 48, No. 2

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 48 No 2 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 208 pages
File Size : 47,9 Mb
Release : 2001-12-12
Category : Business & Economics
ISBN : 9781451974256

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IMF Staff Papers, Volume 48, No. 2 by International Monetary Fund. Research Dept. Pdf

This paper analyzes the link between product variety and economic growth. It finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The paper presents an empirical study for South Africa, which indicates that there exists a stable money demand type of relationship among domestic prices, broad money, real income, and interest rates, as well as a long-term relationship among domestic prices, foreign prices, and the nominal exchange rate.

IMF Staff Papers, Volume 56, No. 3

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 56 No 3 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 248 pages
File Size : 48,8 Mb
Release : 2009-07-31
Category : Business & Economics
ISBN : 9781589068209

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IMF Staff Papers, Volume 56, No. 3 by International Monetary Fund. Research Dept. Pdf

Studies of the impact of trade openness on growth are based either on crosscountry analysis—which lacks transparency—or case studies—which lack statistical rigor. This paper applies a transparent econometric method drawn from the treatment evaluation literature (matching estimators) to make the comparison between treated (that is, open) and control (that is, closed) countries explicit while remaining within a statistical framework. Matching estimators highlight that common cross-country evidence is based on rather far-fetched country comparisons, which stem from the lack of common support of treated and control countries in the covariate space. The paper therefore advocates paying more attention to appropriate sample restriction in crosscountry macro research.

IMF Staff Papers, Volume 49, No. 3

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 49 No 3 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 260 pages
File Size : 49,9 Mb
Release : 2002-09-23
Category : Business & Economics
ISBN : 1589061225

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IMF Staff Papers, Volume 49, No. 3 by International Monetary Fund. Research Dept. Pdf

This paper empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay during 1975–98. Cointegration analysis and error correction modeling are used to research two issues: (i) whether money demand stability is threatened by banking crises; and (ii) whether crises lead to structural breaks in the relation between monetary indicators and prices. Overall, no systematic evidence that banking crises cause money demand instability is found. The paper also analyzes inflation targeting in the context of the IMF-supported adjustment programs.

IMF Staff Papers, Volume 47, No. 3

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 47 No 3 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 140 pages
File Size : 42,7 Mb
Release : 2001-10-10
Category : Business & Economics
ISBN : 9781451973747

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IMF Staff Papers, Volume 47, No. 3 by International Monetary Fund. Research Dept. Pdf

This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It looks at what precisely is meant by herding, the causes of herd behavior, the success of existing studies in identifying the phenomenon, and the effect that herding has on financial markets. The paper also surveys a selected number of studies that evaluated the demand for money using the error-correction model approach in the 1990s across a range of industrial and developing countries.

IMF Staff papers, Volume 43 No. 3

International Monetary Fund. Research Dept.
IMF Staff papers Volume 43 No 3 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 188 pages
File Size : 46,5 Mb
Release : 1996-01-01
Category : Business & Economics
ISBN : 9781451973440

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IMF Staff papers, Volume 43 No. 3 by International Monetary Fund. Research Dept. Pdf

This paper examines the volatility and predictability of emerging stock markets. A range of measures suggests that, despite perceptions to the contrary, the volatility of emerging markets may have fallen rather than risen on average. Also, although the autocorrelations in emerging market returns appear to turn negative at horizons of a year or more, the magnitude of these return reversals is not that much larger than reversals in some mature markets. One interpretation of the results would be that emerging markets have not consistently been subject to fads or bubbles, or at least no more so than in some industrial countries.

IMF Staff Papers, Volume 52, No. 3

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 52 No 3 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 193 pages
File Size : 45,8 Mb
Release : 2005-12-22
Category : Business & Economics
ISBN : 9781589064751

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IMF Staff Papers, Volume 52, No. 3 by International Monetary Fund. Research Dept. Pdf

This last issue for 2005 comprises seven new papers, including a contribution to the journal's occasional Special Data Section about domestic debt markets in Sub-Saharan Africa, and also an in-depth look at the internal job market for entry-level economists at the IMF. The remaining articles cover toics as diverse as: modeling of asset markets, exchange rates in developing countries, international bank claims on Latin America, the effectiveness of "early warning" systems, and the use (by emerging market countries) of the IMF's Special Data Dissemination Standard (SDDS).

IMF Staff Papers, Volume 56, No. 1

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 56 No 1 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 248 pages
File Size : 54,8 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 9781589067943

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IMF Staff Papers, Volume 56, No. 1 by International Monetary Fund. Research Dept. Pdf

This special issue brings together world-renowned experts to provide a systematic and critical analysis of the costs and benefits of financial globalization. Contributors include Kenneth Rogoff, Maurice Obstfeld, Dani Rodrik, and Frederic S. Mishkin.

IMF Staff Papers, Volume 50, No. 2

Mr.Robert P. Flood
IMF Staff Papers Volume 50 No 2 Book PDF

Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
Page : 172 pages
File Size : 50,8 Mb
Release : 2003-07-11
Category : Social Science
ISBN : 1589062027

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IMF Staff Papers, Volume 50, No. 2 by Mr.Robert P. Flood Pdf

This paper examines sources of economic growth in East Asia. The conventional growth-accounting approach to estimating the sources of economic growth requires unrealistically strong assumptions about either competitiveness of factor markets or the form of the underlying aggregate production function. The paper outlines a new approach utilizing nonparametric derivative estimation techniques that does not require imposing these restrictive assumptions. The results for East Asian countries show that output elasticities of capital and labor tend to be different from the income shares of these factors. The paper also explores the compensating potential of private intergenerational transfers.

IMF Staff Papers, Volume 53, No. 2

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 53 No 2 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 166 pages
File Size : 51,5 Mb
Release : 2006-06-29
Category : Business & Economics
ISBN : 1589065174

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IMF Staff Papers, Volume 53, No. 2 by International Monetary Fund. Research Dept. Pdf

Noteworthy among the six papers appearing in this latest issue of the IMF's peer-reviewed journal is another installment in the Special Data Section. Anthony Pellechio and John Cady from the IMF's Statistics Department take a close look at differences in IMF data; how and when they could occur; and what the implications of such differences might be for end-users of the IMF's data.

IMF Staff Papers, Volume 51, No. 1

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 51 No 1 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 206 pages
File Size : 41,6 Mb
Release : 2004-04-20
Category : Business & Economics
ISBN : 1589063228

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IMF Staff Papers, Volume 51, No. 1 by International Monetary Fund. Research Dept. Pdf

This first issue of Volume 51 for 2004 includes a new paper by Peter B. Clark and Jacques J. Polak, along with a tribute from the Editor to Mr. Polak in honor of his 90th birthday. This issue also launches a new featured section, "Data Issues," which will be devoted in future issues to on-going discussions of the latest in econometric and statistical tools for economists, data puzzles, and other related topics of interest to researchers.

IMF Staff Papers, Volume 57, No. 2

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 57 No 2 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 244 pages
File Size : 46,8 Mb
Release : 2010-06-29
Category : Business & Economics
ISBN : 9781589069121

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IMF Staff Papers, Volume 57, No. 2 by International Monetary Fund. Research Dept. Pdf

This paper introduces a new database of financial reforms covering 91 economies over 1973-2005. It describes the content of the database, the information sources utilized, and the coding rules used to create an index of financial reform. It also compares the database with other measures of financial liberalization, provides descriptive statistics, and discusses some possible applications. The database provides a multifaceted measure of reform, covering seven aspects of financial sector policy. Along each dimension the database provides a graded (rather than a binary) score, and allows for reversals.

IMF Staff Papers, Volume 50, Special Issue, IMF Third Annual Research Conference

Mr.Robert P. Flood
IMF Staff Papers Volume 50 Special Issue IMF Third Annual Research Conference Book PDF

Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
Page : 202 pages
File Size : 42,6 Mb
Release : 2003-08-25
Category : Business & Economics
ISBN : 1589062043

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IMF Staff Papers, Volume 50, Special Issue, IMF Third Annual Research Conference by Mr.Robert P. Flood Pdf

The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as the fiscal burden reaches a critical level. The paper provides an overview of key elements of corporate bankruptcy codes and practice around the world that are relevant to the debate on sovereign debt restructuring. It also describes the broad trends in international financial integration for a sample of industrial countries and explains the cross-country and time-series variation in the size of international balance sheets.