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Connected to Whom? International Interbank Borrowing During the Global Crisis
Tintchev, Kalin - International Monetary Fund (IMF) - 2013
systems. Using novel risk-weighted indexes the paper examines whether the banking systems’ access to credit was related to … that both domestic and international risk factors contributed to the decline in international interbank borrowing during …
Persistent link: https://www.econbiz.de/10011142142
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Long-Run and Short-Run Determinants of Sovereign Bond Yields in Advanced Economies
Poghosyan, Tigran - International Monetary Fund (IMF) - 2012
We analyze determinants of sovereign bond yields in 22 advanced economies over the 1980-2010 period using panel cointegration techniques. The application of cointegration methodology allows distinguishing between long-run (debt-to-GDP ratio, potential growth) and short-run (inflation, short-term...
Persistent link: https://www.econbiz.de/10011123833
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Government Bonds and their Investors; What Are the Facts and Do they Matter?
Andritzky, Jochen R. - International Monetary Fund (IMF) - 2012
This paper introduces a new dataset on the composition of the investor base for government securities in the G20 advanced economies and the euro area. During the last decades, investors from abroad have increased their presence in government bond markets. The financial crisis broke this trend....
Persistent link: https://www.econbiz.de/10011242181
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Barriers to Household Risk Management; Evidence from India
Townsend, Robert M.; Cole, Shawn; Tobacman, Jeremy; … - International Monetary Fund (IMF) - 2012
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of …
Persistent link: https://www.econbiz.de/10011242212
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Capital Flows are Fickle; Anytime, Anywhere
Bluedorn, John C; Duttagupta, Rupa; Guajardo, Jaime; … - International Monetary Fund (IMF) - 2013
Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically...
Persistent link: https://www.econbiz.de/10011242219
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Small Island States in the Pacific; the Tyranny of Distance
Becker, Chris - International Monetary Fund (IMF) - 2012
This paper seeks to document key characteristics of small island states in the Pacific. It restricts itself to a limited number of indicators which are macro-orientated - population, fertility of land, ability to tap into economies of scale, income, and geographic isolation. It leaves aside...
Persistent link: https://www.econbiz.de/10011242221
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The Euro Area Crisis; Need for a Supranational Fiscal Risk Sharing Mechanism?
Furceri, Davide; Zdzienicka, Aleksandra - International Monetary Fund (IMF) - 2013
The aim of this paper is to assess the effectiveness of risk sharing mechanisms in the euro area and whether a … supranational fiscal risk sharing mechanism could insure countries against very severe downturns. Using an unbalanced panel of 15 … euro area countries over the period 1979-2010, the results of the paper show that: (i) the effectiveness of risk sharing …
Persistent link: https://www.econbiz.de/10011242326
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The Effectiveness of Monetary Policy Transmission Under Capital Inflows; Evidence from Asia
Jain-Chandra, Sonali; Unsal, D. Filiz - International Monetary Fund (IMF) - 2012
The effectiveness of the monetary policy transmission mechanism in open economies could be impaired if interest rates are driven primarily by global factors, especially during periods of large capital inflows. The main objective of this paper is to assess whether this is true for emerging...
Persistent link: https://www.econbiz.de/10011242336
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Managing Large-Scale Capital Inflows; The Case of the Czech Republic, Poland and Romania
Keller, Leonor; Chowdhury, Ibrahim - International Monetary Fund (IMF) - 2012
Many emerging market economies have in the recent past experienced a surge in capital inflows that may threaten their economic and financial stability. The IMF in early 2011 proposed a framework intended to guide Fund advice to policymakers on how to best respond to such inflows, including both...
Persistent link: https://www.econbiz.de/10011242347
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Surging Capital Flows to Emerging Asia; Facts, Impacts, and Responses
Nowak, Sylwia; Panth, Sanjaya; Balakrishnan, Ravi; Wu, Yiqun - International Monetary Fund (IMF) - 2012
Net capital flows to emerging Asia rebounded at a record pace following the global financial crisis, raising concerns about overheating and financial stability. This paper documents the size and composition of the most recent surge to Asian emerging markets from a historical perspective and...
Persistent link: https://www.econbiz.de/10011242351