Similar Search Results

Real Effects of the Subprime Mortgage Crisis : Is it a Demand or a Finance Shock?

Tong, Hui - 2008

We develop a methodology to study how the subprime crisis spills over to the real economy. Does it manifest itself primarily through reducing consumer demand or through tightening liquidity constraint on non-financial firms? Since most non-financial firms have much larger cash holding than...

Persistent link: https://www.econbiz.de/10014409046

Constructing Forecast Confidence Bands During the Financial Crisis

Clinton, Kevin - 2009

We derive forecast confidence bands using a Global Projection Model covering the United States, the euro area, and … affects the United States. To calculate confidence intervals that respect the zero interest rate floor, we employ Latin … hypercube sampling. Derived confidence bands suggest non-negligible risks that U.S. interest rates might stay near zero for an …

Persistent link: https://www.econbiz.de/10012677886

The Challenge of Reforming Budgetary Institutions in Developing Countries

Allen, Richard - International Monetary Fund (IMF) - 2009

The paper notes that the development of sound budgetary institutions in countries such as France, the U.K. and the U.S. has taken a very long time?200 years or more?and is still evolving. It discusses Douglass North's prediction?which is supported by available data?that institutional reform is...

Persistent link: https://www.econbiz.de/10004999954

Reforming the Russian Budget System; A Move to More Devolved Budget Management?

Diamond, Jack - International Monetary Fund (IMF) - 2005

The Russian federal government has recently initiated a fundamental reform of its budget system, encompassing important policy, procedural, and institutional changes. This paper reviews this reform agenda with reference to the experience of industrial countries that over the past two to three...

Persistent link: https://www.econbiz.de/10005768760

Operational Risk; The Sting is Still in the Tail But the Poison Dependson the Dose

Jobst, Andreas - International Monetary Fund (IMF) - 2007

This paper investigates the generalized parametric measurement methods of aggregate operational risk in compliance with the regulatory capital standards for operational risk in the New Basel Capital Accord ("Basel II"). Operational risk is commonly defined as the risk of loss resulting from...

Persistent link: https://www.econbiz.de/10005768778

Isone Watchdog Better Than Three? International Experience with Integrated Financial Sector Supervision

Cihák, Martin; Podpiera, Richard - International Monetary Fund (IMF) - 2006

Over the past two decades, there has been a clear trend toward integrating the regulation and supervision of banks, nonbank financial institutions, and securities markets. This paper reviews the international experience with integrated supervision. We survey the theoretical arguments for and...

Persistent link: https://www.econbiz.de/10005768792

Progress in China'S Banking Sector Reform; Has Bank Behavior Changed?

Podpiera, Richard - International Monetary Fund (IMF) - 2006

Substantial effort has been devoted to reforming China's banking system in recent years. The authorities recapitalized three large state-owned banks, introduced new governance structures, and brought in foreign strategic investors. However, it remains unclear the extent to which currently...

Persistent link: https://www.econbiz.de/10005769002

Banking in Sub-Saharan Africa; What Went Wrong?

Gall, Françoise Le; Daumont, Roland; Leroux, François - International Monetary Fund (IMF) - 2004

The purpose of this paper is to study the origins of banking crises in sub-Saharan Africa, drawing upon the experience of ten countries during the period 1985-95. It examines, in particular, which factors were the most important sources of these crises. The conclusions underscore that the...

Persistent link: https://www.econbiz.de/10005769085

Decomposing Financial Risks and Vulnerabilities in Eastern Europe

Worrell, DeLisle; Maechler, Andrea M.; Mitra, Srobona - International Monetary Fund (IMF) - 2007

This paper assesses how various types of financial risk such as credit risk, market risk, and liquidity risk affect banking stability in the ten countries that joined the European Union most recently, and eight neighboring countries. It also examines how the quality of supervisory standards may...

Persistent link: https://www.econbiz.de/10005769124

Fiscal Coverage in the Countries of the Middle East and Central Asia; Current Situation and a Way Forward

Zakharova, Daria - International Monetary Fund (IMF) - 2008

This paper reviews some broad principles of fiscal coverage, building on cross-country experience. It discusses the level of coverage that would be appropriate to conduct good quality fiscal analysis, while striking the right balance between the costs and the benefits of expanding the coverage....

Persistent link: https://www.econbiz.de/10005769172