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Regional Economic Outlook, April 2017, Western Hemisphere Department

Table of Two Adjustments

With the global economy gaining some momentum, economies of Latin America and the Caribbean are recovering from a recession at the regional level in 2016.

Regional Economic Outlook, April 2017, Western Hemisphere Department

Table of Two Adjustments

With the global economy gaining some momentum, economies of Latin America and the Caribbean are recovering from a recession at the regional level in 2016.

Sovereign Bond Prices, Haircuts and Maturity

New
Sovereign Bond Prices, Haircuts and Maturity »

Source: Sovereign Bond Prices, Haircuts and Maturity

Volume/Issue: 2017/119

Series: IMF Working Papers

Author(s): Tamon Asonuma , Dirk Niepelt , and Romain Ranciere

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781484301098

Keywords: Sovereign Debt; Default; Debt Restructuring; Bond Prices; Haircuts; Maturity; Default Probability.

Rejecting a common assumption in the sovereign debt literature, we document that creditor losses ('haircuts') during sovereign restructuring episodes are asymmetric across debt instruments. We code a comprehensive...

Riding the Energy Transition: Oil Beyond 2040

New
Riding the Energy Transition: Oil Beyond 2040 »

Source: Riding the Energy Transition : Oil Beyond 2040

Volume/Issue: 2017/120

Series: IMF Working Papers

Author(s): Reda Cherif , Fuad Hasanov , and Aditya Pande

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781484301128

Keywords: oil price, energy transition, electric vehicle, renewable energy

Recent technological developments and past technology transitions suggest that the world could be on the verge of a profound shift in transportation technology. The return of the electric car and its adoption, like...

Portfolio Inflows and Real Effective Exchange Rates: Does the Sectorization Matter?

New
Portfolio Inflows and Real Effective Exchange Rates: Does the Sectorization Matter? »

Source: Riding the Energy Transition : Oil Beyond 2040

Volume/Issue: 2017/120

Series: IMF Working Papers

Author(s): Reda Cherif , Fuad Hasanov , and Aditya Pande

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781484301128

Keywords: oil price, energy transition, electric vehicle, renewable energy

Recent technological developments and past technology transitions suggest that the world could be on the verge of a profound shift in transportation technology. The return of the electric car and its adoption, like...

Sovereign Bond Prices, Haircuts and Maturity

New
Sovereign Bond Prices, Haircuts and Maturity »

Volume/Issue: 2017/119

Series: IMF Working Papers

Author(s): Tamon Asonuma , Dirk Niepelt , and Romain Ranciere

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781484301098.001

ISBN: 9781484301098

Keywords: Sovereign Debt; Default; Debt Restructuring; Bond Prices; Haircuts; Maturity; Default Probability.

Rejecting a common assumption in the sovereign debt literature, we document that creditor losses ('haircuts') during sovereign restructuring episodes are asymmetric across debt instruments. We code a comprehensive...

Riding the Energy Transition
			: Oil Beyond 2040

New
Riding the Energy Transition : Oil Beyond 2040 »

Volume/Issue: 2017/120

Series: IMF Working Papers

Author(s): Reda Cherif , Fuad Hasanov , and Aditya Pande

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781484301128.001

ISBN: 9781484301128

Keywords: oil price, energy transition, electric vehicle, renewable energy

Recent technological developments and past technology transitions suggest that the world could be on the verge of a profound shift in transportation technology. The return of the electric car and its adoption, like...

Portfolio Inflows and Real Effective Exchange Rates
			: Does the Sectorization Matter?

New
Portfolio Inflows and Real Effective Exchange Rates : Does the Sectorization Matter? »

Volume/Issue: 2017/121

Series: IMF Working Papers

Author(s): Rasmané Ouedraogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781484301135.001

ISBN: 9781484301135

Keywords: Portfolio inflows, real effective exchange rate, sector

It has been well-established in the literature that portfolio inflows appreciate the real effective exchange rate. However, the literature lacks a systematic empirical analysis of the impact of portfolio inflows by...

Disinflation, External Vulnerability, and Fiscal Intransigence
			: Some Unpleasant Mundellian Arithmetic

New
Disinflation, External Vulnerability, and Fiscal Intransigence : Some Unpleasant Mundellian Arithmetic »

Volume/Issue: 2017/118

Series: IMF Working Papers

Author(s): Evan Tanner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781484300640.001

ISBN: 9781484300640

Keywords: External Vulnerability, Assignment Problem, Risk Premium

This paper examines the policy challenges a country faces when it wants to both reduce inflation and maintain a sustainable external position. Mundell's (1962) policy assignment framework suggests that these two go...

Debt Limits and the Structure of Public Debt

New
Debt Limits and the Structure of Public Debt »

Volume/Issue: 2017/117

Series: IMF Working Papers

Author(s): Alex Pienkowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781484300657.001

ISBN: 9781484300657

Keywords: Sovereign debt, debt limits, sovereign default, state-contingent debt, GDP-linked bonds.

This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the mode...

Disinflation, External Vulnerability, and Fiscal Intransigence: Some Unpleasant Mundellian Arithmetic

New
Disinflation, External Vulnerability, and Fiscal Intransigence: Some Unpleasant Mundellian Arithmetic »

Source: Disinflation, External Vulnerability, and Fiscal Intransigence : Some Unpleasant Mundellian Arithmetic

Volume/Issue: 2017/118

Series: IMF Working Papers

Author(s): Evan Tanner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781484300640

Keywords: External Vulnerability, Assignment Problem, Risk Premium

This paper examines the policy challenges a country faces when it wants to both reduce inflation and maintain a sustainable external position. Mundell's (1962) policy assignment framework suggests that these two go...

Debt Limits and the Structure of Public Debt

New
Debt Limits and the Structure of Public Debt »

Source: Debt Limits and the Structure of Public Debt

Volume/Issue: 2017/117

Series: IMF Working Papers

Author(s): Alex Pienkowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781484300657

Keywords: Sovereign debt, debt limits, sovereign default, state-contingent debt, GDP-linked bonds.

This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the mode...