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Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589065816
Category : Business & Economics
Languages : en
Pages : 183
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Book Description
This is the final issue for 2006 (Volume 53), and contains another paper in the occasional Special Data Section that seeks to measure financial development in the Middle East and North Africa by utilizing a new database. The issue also contains a comment from Jacques J. Polak on parity reversion in real exchange rates.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589065816
Category : Business & Economics
Languages : en
Pages : 183
Get Book Here
Book Description
This is the final issue for 2006 (Volume 53), and contains another paper in the occasional Special Data Section that seeks to measure financial development in the Middle East and North Africa by utilizing a new database. The issue also contains a comment from Jacques J. Polak on parity reversion in real exchange rates.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 9781589065178
Category : Business & Economics
Languages : en
Pages : 166
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Book Description
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.
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: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973446
Category : Business & Economics
Languages : en
Pages : 188
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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.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973063
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
This paper analyzes macroeconomic effects of projected population aging in industrial countries. The effects of population aging are examined with a theoretical model and simulations of the IMF’s multiregion econometric model (MULTIMOD). The study highlights that an older population will consume more of aggregate disposable income, require higher government expenditure, and decrease labor supply. These effects should raise real interest rates and lower capital stock and output. Effects on current balances will depend on the relative speed and extent of aging.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589069129
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
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.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589066510
Category : Business & Economics
Languages : en
Pages : 212
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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.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 9781589063235
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
This second issue for 2004 contains 8 new papers, including notable contributions from: Nancy Brune, Geoffrey Garrett, and Bruce Kogut on the global spread of privatization; and Mark P. Taylor and Elena T. Branson on asymmetric arbitrage and default premiums in the U.S. and Russian markets. Other papers in the issue look at German wage structures, contagion in equity markets, export orientation and productivity in Sub-Saharan Africa, the role of higher vs. basic education in economic development, and issues related to capital account liberalization.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973683
Category : Business & Economics
Languages : en
Pages : 104
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Book Description
This paper examines determinants and leading indicators of banking crises. The paper examines episodes of banking system distress and crisis in a large sample of countries to identify which macroeconomic and financial variables can be useful leading indicators. The best warning signs of the recent Asian crises were proxies for the vulnerability of the banking and corporate sector. Full-blown banking crises are shown to be associated more with external developments, and domestic variables are the main leading indicators of severe but contained banking distress.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451973608
Category : Business & Economics
Languages : en
Pages : 168
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Book Description
This paper presents international evidence on the determinants of trade dynamics. It provides some new empirical perspectives on the relationship between international trade and macroeconomic fluctuations in industrial economies. A comprehensive set of stylized facts concerning fluctuations in trade variables and their determinants is presented. A measure of the quantitative importance of international trade for the propagation of domestic business cycles is then constructed, focusing on the role of external trade as a catalyst for cyclical recoveries.
