Showing 1 - 10 of 18
The Inter-American Development Bank (IDB or Bank) has worked hard to increase its capacity to report on results. The importance of this issue is reflected in many of the requirements that stem from the Ninth General Capital Increase (IDB-9) process. The IDB-9 Agreement mandates that the IDB...
Persistent link: https://www.econbiz.de/10010672809
Current account imbalances and their sustainability are among the most debated international policy issues. Through the recently designed External Balance Assessment methodology (EBA), the IMF estimates the impact of several countries’ fundamentals and policies on their current account...
Persistent link: https://www.econbiz.de/10010736705
Accounting for the pervasive evidence of limited international risk sharing is an important hurdle for open-economy models, especially when these are adopted in the analysis of policy trade-offs likely to be affected by imperfections in financial markets. Key to the literature is the evidence,...
Persistent link: https://www.econbiz.de/10010862271
We decompose the correlation between relative consumption and the real exchange rate into its dynamic components at different frequencies. Using multivariate spectral analysis techniques we show that, at odds with a high degree of risk-sharing, in most OECD countries the dynamic correlation...
Persistent link: https://www.econbiz.de/10010862287
Persistent link: https://www.econbiz.de/10011035273
One of the most relevant events of the last decades has been the fast integration of international financial markets. As most restrictions to cross-border asset trade were removed, the volume of activity in international financial markets increased dramatically, and so did the cross-country...
Persistent link: https://www.econbiz.de/10008500484
This paper examines analytically the possibility that, due to the limitedness of its resources, the International Monetary Fund (IMF) could spread financial crises rather than preventing them, thus developing into a contagion channel. The model we build, based on the most recent global-games...
Persistent link: https://www.econbiz.de/10008506892
Persistent link: https://www.econbiz.de/10009220005
We decompose the correlation between relative consumption and the real exchange rate in its dynamic components at different frequencies. Using multivariate spectral analysis techniques, we show that, at odds with a high degree of risk sharing, in most OECD countries the dynamic correlation tends...
Persistent link: https://www.econbiz.de/10010615454
Accounting for the pervasive evidence of limited international risk sharing is an important hurdle for open-economy models, especially when these are adopted in the analysis of policy trade-offs likely to be affected by imperfections in financial markets. Key to the literature is the evidence,...
Persistent link: https://www.econbiz.de/10009324252