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Incorporating Market Information Into the Construction of the Fan Chart

Kannan, Prakash; Elekdag, Selim - International Monetary Fund (IMF) - 2009

This paper develops a simple procedure for incorporating market-based information into the construction of fan charts. Using the International Monetary Fund (IMF)'s global growth forecast as a working example, the paper goes through the theoretical and practical considerations of this new...

Persistent link: https://www.econbiz.de/10008528615

Government Spending, Legislature Size, and the Executive Veto

Baqir, Reza - International Monetary Fund (IMF) - 2001

Recent work on the political economy of fiscal policy has asked how budgetary institutions affect fiscal outcomes. But what determines the budgetary institutions? In this paper I consider one such institution: the executive veto. A simple theoretical framework predicts that jurisdictions with...

Persistent link: https://www.econbiz.de/10005768732

Exchange Rate Regime Considerations for Jordan and Lebanon

Bhattacharya, Rina - International Monetary Fund (IMF) - 2003

This paper addresses the issue of the appropriate exchange rate regimes for Jordan and Lebanon in the context of the literature on optimum currency areas and the arguments concerning the use of the exchange rate as a nominal anchor for the economy. It presents some empirical results on the...

Persistent link: https://www.econbiz.de/10005768808

Export Orientation and Productivity in Sub-Saharan Africa

Pattillo, Catherine A.; Mengistae, Taye - International Monetary Fund (IMF) - 2002

Analysis of firm-level panel data from three sub-Saharan African economies shows that exporting manufacturers have a total factor productivity premium of 11-28 percent. The data do not allow testing of whether these premiums are caused by selection of more efficient producers into exporting or...

Persistent link: https://www.econbiz.de/10005768934

Effects of Volatile Asset Priceson Balance of Payments and International Investment Position

Committeri, Marco - International Monetary Fund (IMF) - 2000

relationship between international investment position (IIP) and balance of payments (BOP) statistics. Exact and approximated … statistics with IIP and external debt stock statistics, and discuss (a) how such accuracy is affected by volatile asset prices … make use of more detailed financial information in compiling BOP and IIP statistics. …

Persistent link: https://www.econbiz.de/10005768936

How Does Globalization Affect the Synchronization of Business Cycles?

Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco - International Monetary Fund (IMF) - 2003

This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of...

Persistent link: https://www.econbiz.de/10005769009

Filtering the Beer; A Permanent and Transitory Decomposition

Clark, Peter B.; MacDonald, Ronald - International Monetary Fund (IMF) - 2000

In this paper we extend the BEER (Behavioral Equilibrium Exchange Rate) approach which identifies an estimated equilibrium relationship between the real exchange rate and economic fundamentals. Here the economic fundamentals are decomposed using Johansen cointegration methods into transitory and...

Persistent link: https://www.econbiz.de/10005769018

Stock Returns and Output Growth in Emerging and Advanced Economies

Mauro, Paolo - International Monetary Fund (IMF) - 2000

This paper studies the correlation between output growth and lagged stock returns in a panel of emerging market economies and advanced economies. It finds that the correlation is as strong in emerging market economies as in advanced economies. Asset prices therefore contain valuable information...

Persistent link: https://www.econbiz.de/10005769095

The Link Between Adherence to International Standards of Good Practice, Foreign Exchange Spreads, and Ratings

Tiffin, Andrew; Mulder, Christian B.; Christofides, … - International Monetary Fund (IMF) - 2003

This paper examines the relationship between adherence to international standards of good practice in policy-making and two key indicators of access to capital markets and the cost of this access: spreads and sovereign ratings. In contrast to other work, this study reviews a broad set of...

Persistent link: https://www.econbiz.de/10005769141

Misalignment and Managed Exchange Rates; An Application to the Thai Baht

Lim, G. C. - International Monetary Fund (IMF) - 2000

This paper proposes a methodology for analyzing dynamic misalignment in managed exchange rate systems that combines the estimation approach to modeling the real exchange rate with the calibration approach to generating the equilibrium real exchange rate. The methodology is applied to the Thai...

Persistent link: https://www.econbiz.de/10005769146