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Apocalypse then

Apocalypse then »

Source: Apocalypse then : The Evolution of the North Atlantic Economy and the Global Crisis

Volume/Issue: 2011/212

Series: IMF Working Papers

Author(s): Trung Bui , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463902308

Keywords: Financial linkages, financial regulation, banking, bonds, bond, banking systems, financial market, Financial Aspects of Economic Integration, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation, General Financial Markets: Government Policy and Regulation,

The financial crisis, originated from the collapse of US housing markets in 2008, reverberates around the world. Its destructive force was felt nowhere more keenly than Western Europe. Indeed, it continues to mire...

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...

Banks As Coordinators of Economic Growth

Banks As Coordinators of Economic Growth »

Source: Banks As Coordinators of Economic Growth

Volume/Issue: 2006/264

Series: IMF Working Papers

Author(s): Kenichi Ueda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2006

ISBN: 9781451865240

Keywords: Bank-oriented financial system, bank control, firm group, interbank market, deposit rate, bond, banking, financial system, Noncooperative Games, Exchange and Production Economies

This paper formally identifies an important role of banks: Banks competitively internalize production externalities and facilitate economic growth. I formulate a canonical growth model with externalities as a game...

Co-Movements in Long-Term Interest Rates and the Role of PPP-Based Exchange Rate Expectations

Co-Movements in Long-Term Interest Rates and the Role of PPP-Based Exchange Rate Expectations »

Source: Co-Movements in Long-Term Interest Rates and the Role of PPP-Based Exchange Rate Expectations

Volume/Issue: 1999/81

Series: IMF Working Papers

Author(s): Klaas Knot , and Jan Berk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1999

ISBN: 9781451850345

Keywords: interest parity relations, exchange rate expectations, exchange rate, bond, bond yields, exchange rates

This paper investigates international co-movement in bond yields by testing for uncovered interest parity (UIP). Existing work is supplemented by focusing on long instead of short-term interest rates and by employi...

Currency Hedging for International Portfolios

Currency Hedging for International Portfolios »

Source: Currency Hedging for International Portfolios

Volume/Issue: 2010/151

Series: IMF Working Papers

Author(s): Jochen M. Schmittmann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

ISBN: 9781455201341

Keywords: Currency hedging, international investments, currency risk, hedging, hedge, bond, stock market,

This paper examines the benefits from hedging the currency exposure of international investments in single- and multi-country equity and bond portfolios from the perspectives of German, Japanese, British and Americ...

Determinants of Financial Market Spillovers

Determinants of Financial Market Spillovers »

Source: Determinants of Financial Market Spillovers : The Role of Portfolio Diversification, Trade, Home Bias, and Concentration

Volume/Issue: 2014/187

Series: IMF Working Papers

Author(s): Yoko Shinagawa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2014

ISBN: 9781498365628

Keywords: Financial Spillover, Coordinated Portfolio Investment Survey (CPIS), Home Bias, portfolio investment, financial market, bond, bond markets, International Policy Coordination and Transmission, Portfolio Choice,

This paper defines financial market spillovers as the comovement between two countries' financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio...

EMU and Long Interest Rates in Germany

EMU and Long Interest Rates in Germany »

Source: EMU and Long Interest Rates in Germany

Volume/Issue: 1996/133

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1996

ISBN: 9781451855449

Keywords: bond, bond yields, probability, bond markets, bonds

The presence of an “EMU premium” in German long rates is tested by examining the co-movement of German and other European yields, as well as the exchange rate of the private ECU, in reaction to EMU-re...

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis1

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis1 »

Source: Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

Volume/Issue: 2012/174

Series: IMF Working Papers

Author(s): Jorge Chan-Lau , Estelle Liu , and Jochen M. Schmittmann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505221

Keywords: equity returns, sovereign debt crisis, regulatory capital, panel data econometrics, banking, tier 1 capital, bank bond, General Financial Markets,

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk an...

Estimating Spillover Risk Among Large EU Banks

Estimating Spillover Risk Among Large EU Banks »

Source: Estimating Spillover Risk Among Large EU Banks

Volume/Issue: 2007/267

Series: IMF Working Papers

Author(s): Li Ong , and Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2007

ISBN: 9781451868302

Keywords: contagion, large banks, banking, stock market, bond, government bond,

The paper examines the scope for cross-border spillovers among major EU banks using information contained in the stock prices and financial statements of these banks. The results suggest that spillovers within dome...

European Monetary Union and International Capital Markets

European Monetary Union and International Capital Markets »

Source: European Monetary Union and International Capital Markets : Structural Implications and Risks

Volume/Issue: 1997/62

Series: IMF Working Papers

Author(s): Garry Schinasi , and Alessandro Prati

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1997

ISBN: 9781451848250

Keywords: Euro, EMU, Capital Flows, bond, international capital markets, international capital, securities markets

This paper analyzes the structural implications of EMU for international capital markets. It discusses the potential size of euro capital markets and the existing roles of European currencies in international capit...