IMF Staff Papers, Volume 47, No. 1 PDF Download
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Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451974582
Category : Business & Economics
Languages : en
Pages : 168
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Book Description
This paper discusses the origins of the pyramid schemes and the way the authorities handled them. The paper analyzes the economic effects of the pyramid schemes, concluding that despite the descent into anarchy triggered by the schemes’ collapse, their direct effects on the economy are difficult to specify and appear to have been limited. The paper also argues that prevention of pyramid schemes is better than cure and that government and international financial institutions should be vigilant in clamping down on frauds.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451974582
Category : Business & Economics
Languages : en
Pages : 168
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Book Description
This paper discusses the origins of the pyramid schemes and the way the authorities handled them. The paper analyzes the economic effects of the pyramid schemes, concluding that despite the descent into anarchy triggered by the schemes’ collapse, their direct effects on the economy are difficult to specify and appear to have been limited. The paper also argues that prevention of pyramid schemes is better than cure and that government and international financial institutions should be vigilant in clamping down on frauds.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 145197423X
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
This paper analyzes portfolio diversification, leverage, and financial contagion. It studies the extent to which basic principles of portfolio diversification explain “contagious selling” of financial assets when there are purely local shocks. The paper demonstrates that the elementary portfolio theory offers key insights into “contagion.” Most important, portfolio diversification and leverage are sufficient to explain why an investor will find it optimal to significantly reduce all risky asset positions when an adverse shock impacts just one asset.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973748
Category : Business & Economics
Languages : en
Pages : 140
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Book Description
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.
Author: Mr.Robert P. Flood
Publisher: International Monetary Fund
ISBN: 1451963092
Category : Business & Economics
Languages : en
Pages : 236
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Book Description
This paper presents a broad overview of postwar analytical thinking on international macroeconomics, culminating in a more detailed discussion of recent progress. The paper reviews important empirical evidence that has inspired alternative modeling approaches, as well as theoretical and policy considerations behind developments in the field. The paper presents an empirical study of fiscal policy in countries with extreme monetary regimes. It also examines members of multilateral currency unions, dollarized countries that officially use the money of another country, and countries using currency boards.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589068203
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
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.
Author: Mr.Ashoka Mody
Publisher: International Monetary Fund
ISBN: 9781589063204
Category : Business & Economics
Languages : en
Pages : 168
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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.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498329616
Category : Business & Economics
Languages : en
Pages : 29
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Book Description
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Author: Sushil Bikhchandani
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 38
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Book Description
Author: ERIC MASKIN
Publisher:
ISBN:
Category :
Languages : en
Pages : 956
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Book Description
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451956827
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
The determinants of current account imbalances under floating exchange rates are analyzed. The analysis provides a framework within which the sources of. and the remedies for, the current account imbalances between the United States, Japan, and the Federal Republic of Germany can be discussed. The effects of various government policies are emphasized, in particular the differences between expenditure-changing and expenditure-switching policies. Short-run and long-run considerations are investigated, as well as the role played by expectations and price-level dynamics.
