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Oil Prices and Bank Profitability; Evidence From Major Oil-Exporting Countries in the Middle East and North Africa

Hesse, Heiko; Poghosyan, Tigran - International Monetary Fund (IMF) - 2009

This paper analyzes the relationship between oil price shocks and bank profitability. Using data on 145 banks in 11 oil …-exporting MENA countries for 1994-2008, we test hypotheses of direct and indirect effects of oil price shocks on bank profitability …. Our results indicate that oil price shocks have indirect effect on bank profitability, channeled through country …

Persistent link: https://www.econbiz.de/10008559276

Macroeconomic Implications of Financial Dollarization; The Case of Uruguay

Gelos, Gaston; Mejía, Alejandro López; Piñón-Farah, … - International Monetary Fund (IMF) - 2008

significant central bank reserves. Against this background, Uruguay now faces issues beyond those addressed to stabilize the … central bank reserves. …

Persistent link: https://www.econbiz.de/10011245904

Trade Liberalization, Macroeconomic Adjustment, and Welfare; Unifying Trade and Macro Models

Choudhri, Ehsan U.; Faruqee, Hamid; Tokarick, Stephen - International Monetary Fund (IMF) - 2006

Trade liberalization leads to long-run gains, but it can also involve costly short-run macroeconomic adjustment. The paper explores the relative importance of these effects within a dynamic general equilibrium model that captures key elements of both international trade and macroeconomic models....

Persistent link: https://www.econbiz.de/10011242371

Tariff-Tax Reforms in Large Economies

Tervala, Juha; Ganelli, Giovanni - International Monetary Fund (IMF) - 2012

This paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the...

Persistent link: https://www.econbiz.de/10010790310

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union: A Model-based Approach

Forni, Lorenzo; Pisani, Massimiliano - International Monetary Fund (IMF) - 2013

We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical evidence, we make the following three key assumptions. First, sovereign debt is held by domestic agents...

Persistent link: https://www.econbiz.de/10010790313

Competition Policy for Modern Banks

Ratnovski, Lev - International Monetary Fund (IMF) - 2013

Traditional bank competition policy seeks to balance efficiency with incentives to take risk. The main tools are rules … argue that bank competition policy should be reoriented to deal with the too-big-to-fail (TBTF) problem. It should also …

Persistent link: https://www.econbiz.de/10010790360

Structural Reforms and Economic Performance in Advanced and Developing Countries

Spilimbergo, Antonio; Prati, Alessandro; Ostry, … - International Monetary Fund (IMF) - 2009

This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets,...

Persistent link: https://www.econbiz.de/10010790490

External Performance in Low-Income Countries

Prati, Alessandro; Ricci, Luca Antonio; Christiansen, … - International Monetary Fund (IMF) - 2011

Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and...

Persistent link: https://www.econbiz.de/10010790491

GEM; A New International Macroeconomic Model

Bayoumi, Tamim; Faruqee, Hamid; Laxton, Douglas; Karam, … - International Monetary Fund (IMF) - 2004

Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMFâ€™s...

Persistent link: https://www.econbiz.de/10005590952

A New Look at Exchange Rate Volatility and Trade Flows

Clark, Peter B.; Wei, Shang-Jin; Tamirisa, Natalia T.; … - International Monetary Fund (IMF) - 2004

The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past two decades, many developments in the world economy, such as the currency crises in the 1990s and increasing cross-border capital flows, may have exacerbated exchange rate...

Persistent link: https://www.econbiz.de/10005767343