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Understanding Corporate Vulnerabilities in Latin America

Understanding Corporate Vulnerabilities in Latin America »

Source: Understanding Corporate Vulnerabilities in Latin America

Volume/Issue: 2016/80

Series: IMF Working Papers

Author(s): Carlos Caceres , and Fabiano Rodrigues Bastos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2016

ISBN: 9781484321546

Keywords: Corporate risk; market-based measures; fundamentals.

This paper analyzes the potential risks and vulnerabilities of non-financial corporates in Latin America and Canada. We quantify the impact of company-specific, countryspecific, and global factors in driving corpor...

Relationship between CO2, fuel and electricity prices and the effect on Green House Gas (GHG) emissions in Nordic countries

Relationship between CO2, fuel and electricity prices and the effect on Green House Gas (GHG) emissions in Nordic countries »

Series: Nordic Council of Ministers

Publisher: Nordic Council of Ministers

Publication Date: 01 June 2008

ISBN: 9789289316781

Keywords: Nordic, Norden, Baltic, Baltics, Union Emissions Trading Scheme, Modelling and Forecasts, Market Fundamentals, Carbon Price Forecaster Model, Nordic Power Model, NordPool System Prices

The European Union emissions trading scheme (EU ETS) has rea-ched the end of the first phase (2005 to 2007) and the market has moved on to the next phase, which runs from 2008 to 2012. This report is divided into t...

Competitiveness in Bulgaria

Competitiveness in Bulgaria »

Source: Competitiveness in Bulgaria : An Assessment of the Real Effective Exchange Rate

Volume/Issue: 2004/37

Series: IMF Working Papers

Author(s): Piritta Sorsa , and Dimitar Chobanov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2004

ISBN: 9781451845600

Keywords: Fundamental determinants, NATREX, BEER, Competitiveness, exchange rate, real exchange rate, equation, exchange rates, Open Economy Macroeconomics,

This paper presents an empirical analysis of the medium- and long-term determinants of the real (effective) exchange rate (RER) of the Bulgarian lev using elements from the natural real exchange rate (NATREX) and t...

Bank Solvency and Funding Cost

Bank Solvency and Funding Cost »

Source: Bank Solvency and Funding Cost

Volume/Issue: 2016/64

Series: IMF Working Papers

Author(s): Christoph Aymanns , Carlos Caceres , Christina Daniel , and Liliana Schumacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2016

ISBN: 9781513591131

Keywords: Solvency, funding cost, bank fundamentals, bank, banks, interest, capital, risk, General, All Countries,

Understanding the interaction between bank solvency and funding cost is a crucial pre-requisite for stress-testing. In this paper we study the sensitivity of bank funding cost to solvency measures while controlling...

The Equilibrium Distributions of Value for Risky Stocks and Bonds

The Equilibrium Distributions of Value for Risky Stocks and Bonds »

Source: The Equilibrium Distributions of Value for Risky Stocks and Bonds

Volume/Issue: 2001/39

Series: IMF Working Papers

Author(s): Ronald Johannes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2001

ISBN: 9781451845839

Keywords: Capital assets, distribution of expected price, market fundamentals, investor sentiment, probability, bonds, probability distribution, equations,

Within a unified theory for stocks and corporate bonds, based on dynamic optimization by investors, this paper derives analytical expressions for the momentary distributions of expected price, respectively known to...

Pressure or Prudence? Tales of Market Pressure and Fiscal Adjustment

Pressure or Prudence? Tales of Market Pressure and Fiscal Adjustment »

Source: Pressure or Prudence? Tales of Market Pressure and Fiscal Adjustment

Volume/Issue: 2013/170

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , Todd Mattina , and Agustin Roitman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2013

ISBN: 9781484374054

Keywords: market pressure, macro-fiscal fundamentals, advanced economies, fiscal consolidations, fiscal adjustments, Asset Pricing, General,

We study whether multiyear fiscal adjustment plans in 17 OECD countries during 1980-2011 have been associated with market pressure. We find that only a third (34 percent) of the consolidations occurred under market...

Emerging Market Spread Compression

Emerging Market Spread Compression »

Source: Emerging Market Spread Compression : Is it Real or is it Liquidity?

Volume/Issue: 2008/10

Series: IMF Working Papers

Author(s): Laura Kodres , Kristian Hartelius , and Kenichiro Kashiwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

ISBN: 9781451868722

Keywords: Sovereign Spreads, Fundamentals, bond, bond spreads, market bond, emerging market bond, standard deviation,

Despite recent turmoil, spreads on emerging market countries' sovereign bonds have fallen dramatically since mid-2002. Some have attributed the fall to improved economic fundamentals while others to ample global li...

A Crude Shock

A Crude Shock »

Source: A Crude Shock : Explaining the Impact of the 2014-16 Oil Price Decline Across Exporters

Volume/Issue: 2017/160

Series: IMF Working Papers

Author(s): Francesco Grigoli , Alexander Herman , and Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 July 2017

ISBN: 9781484310175

Keywords: Event study, fundamentals, oil exporters, oil price, transmission of shocks, Economic Growth of Open Economies, Energy and the Macroeconomy

The decline in oil prices in 2014-16 was one of the sharpest in history, and put to test the resilience of oil exporters. We examine the degree to which economic fundamentals entering the oil price decline explain...

Do Currency Fundamentals Matter for Currency Speculators?

Do Currency Fundamentals Matter for Currency Speculators? »

Source: Do Currency Fundamentals Matter for Currency Speculators?

Volume/Issue: 2010/39

Series: IMF Working Papers

Author(s): Masahiro Nozaki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962864

Keywords: currency speculation, carry trades, currency fundamentals, exchange rate, skewness, real effective exchange rate, effective exchange rate, exchange rates,

The answer seems affirmative. We compare currency carry trades with an investment strategy based on currency fundamentals: taking a long (short) position in undervalued (overvalued) currencies. Carry trades have hi...

The Impact of the Global Financial Crisison Microfinance and Policy Implications

The Impact of the Global Financial Crisison Microfinance and Policy Implications »

Source: The Impact of the Global Financial Crisison Microfinance and Policy Implications

Volume/Issue: 2011/175

Series: IMF Working Papers

Author(s): Gabriel Di Bella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781462313303

Keywords: global financial crisis, lending rate fundamentals, capital markets, international capital, Financial Institutions and Services: Government Policy and Regulation,

The global financial crisis affected microfinance institutions (MFIs) as lending growth was constrained by scarcer borrowing opportunities, while the economic slowdown negatively impacted asset quality and profitab...