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Globalization Drives Strategic Product Switching

Globalization Drives Strategic Product Switching »

Source: Globalization Drives Strategic Product Switching

Volume/Issue: 2008/246

Series: IMF Working Papers

Author(s): Marialuz Moreno Badia , Veerle Slootmaekers , and Ilke Van Beveren

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

ISBN: 9781451871043

Keywords: product switching, exit, domestic market, export markets, industry trade,

Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm dynamics, considering both firm closedown and product switching. We contribute to the literature...

Exits from Heavily Managed Exchange Rate Regimes

Exits from Heavily Managed Exchange Rate Regimes »

Source: Exits from Heavily Managed Exchange Rate Regimes

Volume/Issue: 2005/39

Series: IMF Working Papers

Author(s): Enrica Detragiache , Eisuke Okada , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

ISBN: 9781451860580

Keywords: orderly and disorderly exits, exchange rate, real exchange rate, international financial statistics, exchange rate regime, exchange rate regimes, International Lending and Debt Problems, orderly, and disorderly exits,

A widely held nostrum is that countries should exit heavily managed exchange rate regimes when the going is good, rather than when the exchange rate is under pressure to depreciate. Have countries followed this adv...

The Impact of Corporate Governance Structures on the Agency Cost of Debt

The Impact of Corporate Governance Structures on the Agency Cost of Debt »

Source: The Impact of Corporate Governance Structures on the Agency Cost of Debt

Volume/Issue: 2001/204

Series: IMF Working Papers

Author(s): Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451874501

Keywords: agency cost of debt, exit decision, shareholders, equation, shareholder, corporate governance structures, Corporate Finance And Governance,

This paper uses a stochastic continuous time model of the firm to study how different corporate governance structures affect the agency cost of debt. In the absence of asymmetric information, it shows that control...

Managing the Exit

Managing the Exit »

Source: Managing the Exit : Lessons from Japan's Reversal of Unconventional Monetary Policy

Volume/Issue: 2010/114

Series: IMF Working Papers

Author(s): Murtaza Syed , and Hiromi Yamaoka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200733

Keywords: Quantitative Easing, Exit, central bank, central banks, inflation, monetary framework, Financial Markets and the Macroeconomy,

In responding to the global crisis, central banks in several advanced economies ventured beyond traditional monetary policy. A variety of unorthodox measures, including purchases of public and private assets, have...

'Lost Decade' in Translation - What Japan's Crisis could Portend about Recovery from the Great Recession

'Lost Decade' in Translation - What Japan's Crisis could Portend about Recovery from the Great Recession »

Source: 'Lost Decade' in Translation - What Japan's Crisis could Portend about Recovery from the Great Recession

Volume/Issue: 2009/282

Series: IMF Working Papers

Author(s): Kiichi Tokuoka , Murtaza Syed , and Kenneth Kang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874273

Keywords: Lost Decade, Great Recession, Green Shoots, Exit, banking, deposit insurance, financial system, banking system, bank of japan,

Is the recovery from the global financial crisis now secured? A strikingly similar crisis that stalled Japan's growth miracle two decades ago could provide some clues. This paper explores the parallels and draws po...

In Search of Lost Revenue

In Search of Lost Revenue »

Source: In Search of Lost Revenue : Why Restoring Fiscal Soundness After a Crisis is Harder Than it Looks

Volume/Issue: 2010/137

Series: IMF Working Papers

Author(s): Masato Miyazaki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

ISBN: 9781455201204

Keywords: fiscal deficit, exit strategy, tax, expenditure, tax revenues, spending cuts, fiscal adjustment, fiscal gap, National Budget, Deficit

This note argues that because fiscal deficit after a crisis owe much to a drop in tax revenues and a sluggish revenue growth, its adjustment has to rely more on revenue augmentation than commonly thought. Cutting e...

The State of Public Finances Cross-Country Fiscal Monitor: November 2009

The State of Public Finances Cross-Country Fiscal Monitor: November 2009 »

Source: The State of Public Finances Cross-Country Fiscal Monitor : November 2009

Volume/Issue: 2009/25

Series: IMF Staff Position Notes

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 November 2009

ISBN: 9781462349531

Keywords: Fiscal sustainability, Global financial crisis, policy response, fiscal policy, fiscal stimulus, debt sustainability, exit strategies, debt, interest, deficit

...

The State of Public Finances

The State of Public Finances »

Source: The State of Public Finances : A Cross-Country Fiscal Monitor

Volume/Issue: 2009/21

Series: IMF Staff Position Notes

Author(s): Paolo Mauro , Mark Horton , and Manmohan Kumar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2009

ISBN: 9781455257270

Keywords: Emerging markets, Global financial crisis, policy response, fiscal policy, fiscal stimulus, fiscal sustainability, debt sustainability, exit strategies, debt, interest

...

The Problem that Wasn't

The Problem that Wasn't »

Source: The Problem that Wasn't : Coordination Failures in Sovereign Debt Restructurings

Volume/Issue: 2011/265

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer , Marcos Chamon , and Ran Bi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463924645

Keywords: exit consents, creditor coordination, bond, bonds, debt restructuring, International Monetary Arrangements and Institutions, International Lending and Debt Problems, Macroeconomic Aspects of International Trade and Finance: Other, International Law,

Contrary to widespread expectation, debt renegotiations in the era of bond finance have generally been quick and involved little litigation. We present a model that rationalizes the initial fears and offers interpr...

Exits From Pegged Regimes

Exits From Pegged Regimes »

Source: Exits From Pegged Regimes : An Empirical Analysis

Volume/Issue: 2003/147

Series: IMF Working Papers

Author(s): Inci Ötker , and Rupa Duttagupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451856750

Keywords: Pegged exchange rates, floating regimes, determinants of exits, exchange rate, exchange rate regime, exchange rate regimes, trade openness, flexible exchange rate,

Using countries' de facto exchange rate regimes during 1985-2002, this paper analyzes the determinants of exits from pegged regimes, where exits involve shifts to more or less flexible regimes, or adjustments withi...