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Republic of Estonia

Republic of Estonia »

Source: Republic of Estonia : Selected Issues

Volume/Issue: 2009/85

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2009

ISBN: 9781451812541

Keywords: financing constraints, investment, financial constraints, firm size, productivity growth

This Selected Issues paper focuses on financing constraints and productivity in Estonia. The paper examines two questions: (1) is there evidence of financing constraints among Estonian firms; and (2) have financing...

Republic of Estonia: Selected Issues

Republic of Estonia: Selected Issues »

Source: Republic of Estonia : Selected Issues

Volume/Issue: 2009/85

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2009

ISBN: 9781451812541

Keywords: financing constraints, investment, financial constraints, firm size, productivity growth

This Selected Issues paper focuses on financing constraints and productivity in Estonia. The paper examines two questions: (1) is there evidence of financing constraints among Estonian firms; and (2) have financing...

Republic of Estonia: Selected Issues

Republic of Estonia: Selected Issues »

Source: Republic of Estonia : Selected Issues

Volume/Issue: 2009/85

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2009

ISBN: 9781451812541

Keywords: financing constraints, investment, financial constraints, firm size, productivity growth

This Selected Issues paper focuses on financing constraints and productivity in Estonia. The paper examines two questions: (1) is there evidence of financing constraints among Estonian firms; and (2) have financing...

Bankruptcy and Firm Dynamics

Bankruptcy and Firm Dynamics »

Source: Bankruptcy and Firm Dynamics : The Case of the Missing Firms

Volume/Issue: 2010/41

Series: IMF Working Papers

Author(s): Jose Daniel Rodríguez-Delgado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962932

Keywords: firm dynamics, financial constraints, bond, probability, equation, bond price, statistics,

Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy procedures, liquidation in particular, as an institutional feature that affects both sides of...

Subnational Public Financial Management

Subnational Public Financial Management »

Source: Subnational Public Financial Management : Institutions and Macroeconomic Considerations

Volume/Issue: 2005/108

Series: IMF Working Papers

Author(s): Maria Albino-War , Raju Singh , and Ehtisham Ahmad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2005

ISBN: 9781451861273

Keywords: fiscal rules, fiscal federalism, budget constraint, public financial management, financial management, State and Local Government,

Transparent public financial management at the subnational level requires institutions and processes that mirror those needed at the central government level, in order to generate better accountability and competit...

The Composition Matters

The Composition Matters »

Source: The Composition Matters : Capital Inflows and Liquidity Crunch During a Global Economic Crisis

Volume/Issue: 2009/164

Series: IMF Working Papers

Author(s): Hui Tong , and Shang-Jin Wei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

ISBN: 9781451873115

Keywords: Financial globalization, spillover, liquidity constraints, stock price, working capital, financial dependence, Financial Institutions And Services, Corporate Finance And Governance,

We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the decline in stock...

Tax Smoothing in a Financially Repressed Economy

Tax Smoothing in a Financially Repressed Economy »

Source: Tax Smoothing in a Financially Repressed Economy : Evidence from India

Volume/Issue: 1998/122

Series: IMF Working Papers

Author(s): Paul Cashin , Nilss Olekalns , and Ratna Sahay

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

ISBN: 9781451854466

Keywords: Tax smoothing, financial repression, budget surplus, government expenditure, fiscal deficits, budget constraint

India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro’s tax-smoothing model,...

Real Effects of the Subprime Mortgage Crisis

Real Effects of the Subprime Mortgage Crisis »

Source: Real Effects of the Subprime Mortgage Crisis : Is it a Demand or a Finance Shock?

Volume/Issue: 2008/186

Series: IMF Working Papers

Author(s): Hui Tong , and Shang-Jin Wei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

ISBN: 9781451870442

Keywords: liquidity constraint, demand contraction, stock price, financial sector, stock returns, cash flow,

We develop a methodology to study how the subprime crisis spills over to the real economy. Does it manifest itself primarily through reducing consumer demand or through tightening liquidity constraint on non-financ...

Optimal Price Indices for Targeting Inflation Under Incomplete Markets

Optimal Price Indices for Targeting Inflation Under Incomplete Markets »

Source: Optimal Price Indices for Targeting Inflation Under Incomplete Markets

Volume/Issue: 2010/200

Series: IMF Working Papers

Author(s): Rahul Anand , and Eswar Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

ISBN: 9781455205301

Keywords: Monetary Policy Framework, Core Inflation, Headline Inflation, Financial Frictions, Liquidity Constraints, aggregate demand, central bank,

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We develop a two-sector two-good new-Keynesian model to study the...

Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?1

Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?1 »

Source: Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?

Volume/Issue: 2015/77

Series: IMF Working Papers

Author(s): Nicolas Magud , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2015

ISBN: 9781475534221

Keywords: financial constraints, private investment, commodity, debt, General, General, General, General, capital inflows.,

We document that (i) although private investment growth in emerging markets has decelerated in recent years, it came down from cyclical highs and remains close to pre-crisis trends; and (ii) investment-to-output ra...