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Optimal Fiscal Policy and Government Provision of Contingent Liabilities : The Example of Government Loan and Deposit Guarantees

International Monetary Fund - 1989

The optimal provision of loan guarantees or deposit insurance is examined in the context of an overlapping generations model. It is demonstrated that even in the face of a market imperfection that precludes diversification of the private sector’s loan portfolio to eliminate risk, full...

Persistent link: https://www.econbiz.de/10014395814

Saving-Investment Correlations : Immobile Capital. Government Policy or Endogenous Behavior?

International Monetary Fund - 1989

This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over time. It is concluded that the main reason for the observed high correlations over the recent period is probably government policy

Persistent link: https://www.econbiz.de/10014396226

Fiscal Policy and Private Sector Saving Behavior : Tests of Ricardian Equivalence in Some Developing Economies

International Monetary Fund - 1987

Tax or debt financing of a given rate of government expenditures would, according to the now well-known Ricardian Equivalence proposition, have equivalent effects on aggregate demand. Among the reasons for a deviation from the equivalence is the possibility that the government and the private...

Persistent link: https://www.econbiz.de/10014396483

Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions

International Monetary Fund - 1999

This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing … for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that … neglecting heterogeneity and dynamics can lead to misleading inferences about the key determinants of savings behavior. The …

Persistent link: https://www.econbiz.de/10014400163

Guidance Note on the Exogenous Shocks Facility

International Monetary Fund - 2006

The ESF, established within the Poverty Reduction and Growth Facility and Exogenous Shocks Facility (PRGF-ESF) Trust, complements existing Fund instruments for providing timely support, including financing at more appropriate terms, to low-income members that are facing sudden and exogenous...

Persistent link: https://www.econbiz.de/10014410054

Current Account Dynamics : The Role of Real Shocks

International Monetary Fund - 1989

This paper demonstrates how a full-blown optimizing model of the dynamics of the current account can be reduced to a small-scale collection of reduced-form relations capable of implementing a rich set of macro-economic simulations. Emphasizing the role of shocks to productivity, labor...

Persistent link: https://www.econbiz.de/10014395801

Commodity Markets and the International Transmission of Fiscal Shocks

International Monetary Fund - 1988

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Persistent link: https://www.econbiz.de/10014395951

The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks

International Monetary Fund - 1988

introduced into the analysis, the same shock could cause a current account deficit. Furthermore, the higher the dependence of the …

Persistent link: https://www.econbiz.de/10014396256

Oil Shocks and External Balances

International Monetary Fund - 2007

of oil shocks on the merchandise trade balance and the current account, which depending on the source of the shock can be …

Persistent link: https://www.econbiz.de/10014401265

A Noteon Terms of Trade Shocks and the Wage Gap

International Monetary Fund - 2010

Using Chilean data, we document that for resource-rich small open economies the effects of terms of trade shocks on the wage gap (between skilled and unskilled workers) depend on factor intensities in the non-tradable sector, following the model in Galiani, Heymann, and Magud (2010). For a...

Persistent link: https://www.econbiz.de/10014403224