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Targeting Social Transfers to the Poor in Mexico

Targeting Social Transfers to the Poor in Mexico »

Source: Targeting Social Transfers to the Poor in Mexico

Volume/Issue: 2009/60

Series: IMF Working Papers

Author(s): David Coady , and Susan Parker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451872071

Keywords: Targeting, self selection, administrative selection, Oportunidades, social welfare, coverage, leakage, probability, probabilities, equation

Mexico's main social support program, Oportunidades, combines two methods to target cash to poor households: an initial self-selection by households who acquire knowledge about the program and apply for benefits, f...

Regulation of Withdrawals in Individual Account Systems

Regulation of Withdrawals in Individual Account Systems »

Source: Regulation of Withdrawals in Individual Account Systems

Volume/Issue: 1999/153

Series: IMF Working Papers

Author(s): Jan Walliser

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1999

ISBN: 9781451857139

Keywords: annuity, pension reform, individual accounts, retirement, pension, adverse selection, retirement income, annuities markets

Funded mandatory pension systems based on individual accounts are spreading around the world. With the maturation of these systems, regulating the withdrawal of retirement savings will become increasingly important...

Central Bank Collateral Frameworks

Central Bank Collateral Frameworks »

Source: Central Bank Collateral Frameworks : Principles and Policies

Volume/Issue: 2008/222

Series: IMF Working Papers

Author(s): Rebecca McCaughrin , Simon Gray , and Alexandre Chailloux

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870800

Keywords: Adverse selection, collateral, financial market crises, risk mitigation, credit, repo, pricing, counterparty,

Central bank collateral policies came under pressure with the 2007-08 financial market crisis. This paper addresses the rationale for and constraints in taking collateral, and recent practices in different collater...

On Myopic Equilibria in Dynamic Games with Endogenous Discounting

On Myopic Equilibria in Dynamic Games with Endogenous Discounting »

Source: On Myopic Equilibria in Dynamic Games with Endogenous Discounting

Volume/Issue: 2006/302

Series: IMF Working Papers

Author(s): Wilko Bolt , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

ISBN: 9781451865622

Keywords: dynamic game, myopic equlibrium, discounting, equilibrium selection, probability, equation, probabilities, present value, Noncooperative Games, Myopic Equilibrium,

This paper derives an equilibrium for a competitive multi-stage game in which an agents' current action influences his probability of survival into the next round of play. This is directly relevant in banking, wher...

Bank Risk Within and Across Equilibria1

Bank Risk Within and Across Equilibria1 »

Source: Bank Risk Within and Across Equilibria

Volume/Issue: 2014/116

Series: IMF Working Papers

Author(s): Itai Agur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2014

ISBN: 9781498306515

Keywords: Bank risk, Wholesale funding, Adverse selection, Multiple equilibria, banking, systemic risk, bank exposures, bank funding,

The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an equilibrium with f...

The Pre-Crisis Capital Flow Surge to Emerging Europe

The Pre-Crisis Capital Flow Surge to Emerging Europe »

Source: The Pre-Crisis Capital Flow Surge to Emerging Europe : Did Countercyclical Fiscal Policy Make a Difference?

Volume/Issue: 2012/222

Series: IMF Working Papers

Author(s): Ruben Atoyan , Dustin Smith , and Albert Jaeger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2012

ISBN: 9781475510270

Keywords: absorption boom, capital inflows, private capital inflows, private capital, Model Evaluation and Selection,

A push-pull-brake model of capital flows is used to study the effects of fiscal policy changes on private capital flows to emerging Europe during 2000-07. In the model, countercyclical fiscal policy has two opposin...

Monetary Rules for Emerging Market Economies

Monetary Rules for Emerging Market Economies »

Source: Monetary Rules for Emerging Market Economies

Volume/Issue: 2002/34

Series: IMF Working Papers

Author(s): Alessandro Rebucci , and Fabio Ghironi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451845273

Keywords: monetary rules, risk premia, Contents, inflation, equations, inflation targeting, equation, Model Evaluation and Selection, Open Economy Macroeconomics,

We compare the performance of a currency board, inflation targeting, and dollarization in a small, open developing economy with a liberalized capital account. We focus on the transmission of shocks to currency and...

Measures of Underlying Inflation in the Euro Area

Measures of Underlying Inflation in the Euro Area »

Source: Measures of Underlying Inflation in the Euro Area : Assessment and Role for Informing Monetary Policy

Volume/Issue: 2006/197

Series: IMF Working Papers

Author(s): Emil Stavrev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

ISBN: 9781451864571

Keywords: Underlying inflation, forecast evaluation, composite indicators, forecast risk assessment, monetary aggregates, inflation dynamics, central bank, Model Construction and Estimation, Model Evaluation and Selection, Forecasting and Other Model Applications,

The paper evaluates the 24-month ahead inflation forecasting performance of various indicators of underlying inflation and structural models. The inflation forecast errors resulting from model misspecification are...

Overcoming Barriers to Reform

Overcoming Barriers to Reform »

Source: Overcoming Barriers to Reform : On Incentive-Compatible International Assistance

Volume/Issue: 2007/231

Series: IMF Working Papers

Author(s): Wolfgang Mayer , and Alex Mourmouras

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2007

ISBN: 9781451867954

Keywords: international assistance, incentives, optimal contracts, special interest groups, adverse selection, sovereign default, political instability, interest, interest group, repayment

International financial assistance (loans and grants) can potentially raise recipients' welfare in two ways, by affecting a direct resource transfer and by facilitating efficiency-enhancing reforms. In practice, ba...

Assessing Dsge Models with Capital Accumulation and Indeterminacy

Assessing Dsge Models with Capital Accumulation and Indeterminacy »

Source: Assessing Dsge Models with Capital Accumulation and Indeterminacy

Volume/Issue: 2012/83

Series: IMF Working Papers

Author(s): Vadim Khramov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502350

Keywords: Monetary DSGE Models, Indeterminacy, monetary policy rule, interest rates, capital, inflation, Bayesian Analysis, Model Evaluation and Selection, Existence and Stability Conditions of Equilibrium,

The simulated results of this paper show that New Keynesian DSGE models with capital accumulation can generate substantial persistencies in the dynamics of the main economic variables, due to the stock nature of ca...