IMF Staff papers, Volume 43 No. 3

IMF Staff papers, Volume 43 No. 3 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973446
Category : Business & Economics
Languages : en
Pages : 188

Get Book Here

Book Description
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 43 No. 3

IMF Staff papers, Volume 43 No. 3 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973446
Category : Business & Economics
Languages : en
Pages : 188

Get Book Here

Book Description
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 43 No. 1

IMF Staff papers, Volume 43 No. 1 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451957092
Category : Business & Economics
Languages : en
Pages : 268

Get Book Here

Book Description
This paper extends a standard growth model and obtains consistent panel data estimates of the growth retarding effects of military spending via its adverse impact on capital formation and resource allocation. Simulation experiments suggest that a substantial long-term “peace dividend”—in the form of higher capacity output—may result from markedly lower military expenditure levels achieved in most regions during the late 1980s, and the further military spending cuts that would be possible if global peace could be secured.

IMF Staff Papers, Volume 54, No. 3

IMF Staff Papers, Volume 54, No. 3 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589066510
Category : Business & Economics
Languages : en
Pages : 212

Get Book Here

Book Description
This issue features a timely paper by Vladimir Klyuev and Paul Mills on the role of personal wealth and home equity withdrawal in the decline in the U.S. saving rate. Lusine Lusinyan and Leo Bonato explain how work absence in 18 European countries affects labor supply and demand. And a paper by Paolo Manasse (University of Bologna) entitled "Deficit Limits and Fiscal Rules for Dummies" examines fiscal frameworks.

IMF Staff Papers

IMF Staff Papers PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 9781589061231
Category : Business & Economics
Languages : en
Pages : 250

Get Book Here

Book Description
This paper reports for uncovered interest parity (UIP) using daily data for 23 developing and developed countries during the crisis-strewn 1990s. UIP is a classic topic of international finance, a critical building block of most theoretical models, and a dismal empirical failure. UIP states that the interest differential is, on average, equal to the ex post exchange rate change. UIP may work differently for countries in crisis, whose exchange and interest rates both display considerably more volatility. This volatility raises the stakes for financial markets and central banks; it also may provide a more statistically powerful test for the UIP hypothesis. Policy-exploitable deviations from UIP are, therefore, a necessary condition for an interest rate defense. There is a considerable amount of heterogeneity in the results, which differ wildly by country.

IMF Staff Papers, Volume 56, No. 2

IMF Staff Papers, Volume 56, No. 2 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589067959
Category : Business & Economics
Languages : en
Pages : 216

Get Book Here

Book Description
China’s growth performance since the start of economic reforms in 1978 has been impressive, but the gains have not been distributed equally across provinces. We use a nonparametric approach to analyze the variation in labor productivity growth across China’s provinces. This approach imposes less structure on the data than the standard growth accounting framework and allows for a breakdown of labor productivity into efficiency gains, technological progress, and capital deepening. We have the following results. First, we find that on average capital deepening accounts for about 75 percent of total labor productivity growth, while efficiency and technological improvements account for about 7 and 18 percent, respectively. Second, technical change is not neutral. Third, whereas improvement in efficiency contributes to convergence in labor productivity between provinces, technical change contributes to productivity disparity across provinces. Finally, we find that foreign direct investment has a positive and significant effect on efficiency growth and technical progress.

IMF Staff Papers, Volume 51, Special Issue, IMF Fourth Annual Research Conference

IMF Staff Papers, Volume 51, Special Issue, IMF Fourth Annual Research Conference PDF Author: Mr.Ashoka Mody
Publisher: International Monetary Fund
ISBN: 9781589063204
Category : Business & Economics
Languages : en
Pages : 168

Get Book Here

Book Description
This is the 2004 (Volume 51) Special Issue of IMF Staff Papers, which includes 6 selected papers (from more than 20) that were presented at the IMF's Fourth Annual Research Conference, November 6-7, 2003.

IMF Staff Papers, Volume 56, No. 1

IMF Staff Papers, Volume 56, No. 1 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589067940
Category : Business & Economics
Languages : en
Pages : 248

Get Book Here

Book Description
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.

 PDF Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 38

Get Book Here

Book Description


IMF Research Bulletin, December 2008

IMF Research Bulletin, December 2008 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451959540
Category : Business & Economics
Languages : en
Pages : 19

Get Book Here

Book Description
December 2008: IMF research summaries on global herding in financial markets (by Marco Cipriani) and on fiscal decentralization (by Lusine Lusinyan); article on the experiences of IMF staff at the Nobel Laureate Meetings in Lindau, Germany (by Chris Crowe); listing of visiting scholars at the IMF during August–December 2008; listing of contents of Vol. 55 No. 4 of IMF Staff Papers; listing of recent IMF Working Papers; listing of recent external publications by IMF staff; and a Call for Papers for an upcoming conference on structural reforms.

Reforming the Labour Market

Reforming the Labour Market PDF Author: Bibek Debroy
Publisher: Academic Foundation
ISBN: 9788171884414
Category : Business & Economics
Languages : en
Pages : 380

Get Book Here

Book Description
This Volume Provides A Comprehensive Background To The Current State Of Labour Legislation In The Country And The Directions For Reform. The Book Is A Collection Of 14 Papers Related To The Issue Of Labour Market Reforms.