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Global Implications of Lower Oil Prices

Global Implications of Lower Oil Prices »

Source: Global Implications of Lower Oil Prices

Volume/Issue: 2015/15

Series: Staff Discussion Notes

Author(s): Aasim Husain , Rabah Arezki , Peter Breuer , Vikram Haksar , Thomas Helbling , Paulo Medas , and Martin Sommer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 July 2015

ISBN: 9781513532417

Keywords: Oil price, fuel taxes and subsidies, fiscal vulnerabilities, external vulnerabilities, exchange rate regime, oil, prices, price, oil prices, energy

The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the...

Reserve Adequacy in Emerging Market Economics

Reserve Adequacy in Emerging Market Economics »

Source: Reserve Adequacy in Emerging Market Economics

Volume/Issue: 2001/143

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451856347

Keywords: Reserves, vulnerability, capital flight, exchange rate, currency board, external debt, exchange rates, foreign exchange

This paper analyzes reserve adequacy in emerging market countries. It argues that the old rule of thumb of maintaining reserves equivalent to three months of imports has become obsolete and that, instead, a new ben...

Disinflation, External Vulnerability, and Fiscal Intransigence

Disinflation, External Vulnerability, and Fiscal Intransigence »

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: Risk premium, External Vulnerability, Assignment Problem, General, Open Economy Macroeconomics, International Policy Coordination and Transmission

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...

Managing Volatility - A Vulnerability Exercise for Low-Income Countries

Managing Volatility - A Vulnerability Exercise for Low-Income Countries »

Source: Managing Volatility - A Vulnerability Exercise for Low-Income Countries

Volume/Issue: 2011/081

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 October 2011

ISBN: 9781498339209

Keywords: Commodity price fluctuations, Economic models, External shocks, Fiscal risk, Low-income developing countries, Risk management, Spillovers, External sector, Fiscal sector, Economic integration

This paper, introduces the analytical framework for a Vulnerability Exercise for Low-Income Countries (VE-LIC). The envisaged exercise will strive to identify vulnerabilities and emerging risks that arise from chan...

Competitiveness and the Equilibrium Exchange Rate in Costa Rica

Competitiveness and the Equilibrium Exchange Rate in Costa Rica »

Source: Competitiveness and the Equilibrium Exchange Rate in Costa Rica

Volume/Issue: 2001/23

Series: IMF Working Papers

Author(s): Claudio Paiva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2001

ISBN: 9781451844047

Keywords: Equilibrium exchange rate, current account sustainability, competitiveness, external vulnerability, exchange rate, central bank, real exchange rate, current account balance,

This paper evaluates several indicators of external vulnerability and estimates the equilibrium real exchange rate for Costa Rica. While current indicators are mostly positive, declining market shares of domestic e...

Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries

Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries »

Source: Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries

Volume/Issue: 2013/041

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2013

ISBN: 9781498341172

Keywords: Access limits, Debt sustainability analysis, External borrowing, External debt, Fund-supported adjustment programs, Low-income developing countries, Public debt, Domestic debt, Public sector external debt, Balance of payments

Low-income countries (LICs) face significant challenges in meeting their development objectives while at the same time ensuring that their external debt remains sustainable. In April 2005, the Executive Boards of t...

Sectoral Composition of Foreign Direct Investment and External Vulnerability in Eastern Europe

Sectoral Composition of Foreign Direct Investment and External Vulnerability in Eastern Europe »

Source: Sectoral Composition of Foreign Direct Investment and External Vulnerability in Eastern Europe

Volume/Issue: 2011/123

Series: IMF Working Papers

Author(s): Yuko Kinoshita

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455263400

Keywords: Central Eastern Europe, Southeastern Europe, external vulnerability, fdi, investment, direct investment, Country and Industry Studies of Trade, Economywide Country Studies: Europe,

In the run up to the global crisis, countries in Central Eastern and Southeastern Europe attracted large capital inflows and some of them built up large external imbalances. This paper investigates whether these im...

Nonfinancial Firms in Latin America

Nonfinancial Firms in Latin America »

Source: Nonfinancial Firms in Latin America : A Source of Vulnerability?

Volume/Issue: 2012/279

Series: IMF Working Papers

Author(s): Maria Gonzalez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2012

ISBN: 9781475513486

Keywords: External Vulnerability, Global Shocks, Leverage, Debt Structure, exchange rate, short-term debt, exchange rate regime, terms of trade, trade growth, General,

We examine corporate sector vulnerabilities in Brazil, Chile, Colombia, Mexico and Peru. First, we identify stylized facts based on corporate financial indicators. Second, we assess vulnerability of individual firm...

Sovereign Credit Ratings Methodology

Sovereign Credit Ratings Methodology »

Source: Sovereign Credit Ratings Methodology : An Evaluation

Volume/Issue: 2002/170

Series: IMF Working Papers

Author(s): Ashok Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451858433

Keywords: early warning, risk, sovereign, vulnerability, bonds, bond, financial system, sovereign default, external debt, Market Structure and Pricing: General

This paper describes and evaluates the sovereign credit ratings methodologies of Standard & Poor's, Moody's Investors Service, and Fitch Ratings. A simple definition of ratings failure-based on ratings stability-is...

Beyond the Crisis

Beyond the Crisis »

Source: Beyond the Crisis : Revisiting Emerging Europe's Growth Model

Volume/Issue: 2010/92

Series: IMF Working Papers

Author(s): Ruben Atoyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2010

ISBN: 9781451982565

Keywords: sustainable economic growth, sources of growth, external vulnerabilities, economic growth, capital inflows, growth model, capital flows, private capital flows, Macroeconomic Analyses of Economic Development, Economywide Country Studies: Europe,

Focusing on the nexus between economic growth and buildup of external vulnerabilities, this paper provides a systematic account of different growth strategies followed in Central and Eastern Europe in 2000-08 and t...