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The Accountability of Financial Sector Supervisors

The Accountability of Financial Sector Supervisors »

Source: The Accountability of Financial Sector Supervisors : Principles and Practice

Volume/Issue: 2005/51

Series: IMF Working Papers

Author(s): Michael Taylor , Marc Quintyn , and Eva Hüpkes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860702

Keywords: Financial regulation, regulatory agencies, public administration accountability, banking, financial system, financial services, financial sector, financial institutions, General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation

Policymakers' uneasiness about granting independence to financial sector regulators stems to a large extent from the lack of familiarity with, and elusiveness of, the concept of accountability. This paper gives ope...

Additional Evidenceon Ems Interest Rate Linkages

Additional Evidenceon Ems Interest Rate Linkages »

Source: Additional Evidenceon Ems Interest Rate Linkages

Volume/Issue: 1996/115

Series: IMF Working Papers

Author(s): John Thornton , and Alicia García-Herrero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1996

ISBN: 9781451942941

Keywords: interest rates, cointegration, statistics, granger causality, equation

This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds t...

After the Crisis

After the Crisis »

Source: After the Crisis : Lower Consumption Growth But Narrower Global Imbalances?

Volume/Issue: 2010/11

Series: IMF Working Papers

Author(s): Franziska Ohnsorge , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

ISBN: 9781451961966

Keywords: current account adjustment, consumption growth, disposable income, household wealth, income growth, private consumption,

We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary behavior in the face of uncertainty. We find that in the short run, continued income uncertaint...

Aggregate Investment Expenditures on Tradable and Nontradable Goods

Aggregate Investment Expenditures on Tradable and Nontradable Goods »

Source: Aggregate Investment Expenditures on Tradable and Nontradable Goods

Volume/Issue: 2008/45

Series: IMF Working Papers

Author(s): Rudolfs Bems

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

ISBN: 9781451869071

Keywords: tradable and nontradable goods, expenditure, expenditures, investment expenditures, input-output, expenditure share,

This paper shows that aggregate investment expenditure shares on tradable and nontradable goods are very similar across countries and regions. Furthermore, the two expenditure shares have remained close to constant...

Aging, Savings, and Pensions in the Group of Seven Countries: 1980-2025

Aging, Savings, and Pensions in the Group of Seven Countries: 1980-2025 »

Source: Aging, Savings, and Pensions in the Group of Seven Countries : 1980-2025

Volume/Issue: 1989/13

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1989

ISBN: 9781451924657

Keywords: elderly, private savings, pensions, dependency, pension

In the next 30-40 years, past changes in fertility and mortality will lead to a significant increase in the share of the elderly. This study suggests that these demographic trends may lead to a decline in the G-7 p...

Anticipation and Surprises in Central Bank Interest Rate Policy

Anticipation and Surprises in Central Bank Interest Rate Policy »

Source: Anticipation and Surprises in Central Bank Interest Rate Policy : The Case of the Bundesbank

Volume/Issue: 1998/43

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1998

ISBN: 9781451975192

Keywords: central banking, monetary policy, central bank, discount rates, discount rate, equation, probability

Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is develope...

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...

Are Exchange Rates Excessively Volatile? and What Does "Excessively Volatile" Mean, Anyway?

Are Exchange Rates Excessively Volatile? and What Does "Excessively Volatile" Mean, Anyway? »

Source: Are Exchange Rates Excessively Volatile? and What Does "Excessively Volatile" Mean, Anyway?

Volume/Issue: 1995/85

Series: IMF Working Papers

Author(s): Gordon Bodnar , and Leonardo Bartolini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1995

ISBN: 9781451850697

Keywords: exchange rate, exchange rates, exchange rate volatility, equation, predictions

Using data for the major currencies from 1973 to 1994, we apply recent tests of asset price volatility to re-examine whether exchange rates have been excessively volatile with respect to the predictions of the mone...

Are Laws Needed for Public Management Reforms? An International Comparison

Are Laws Needed for Public Management Reforms? An International Comparison »

Source: Are Laws Needed for Public Management Reforms? An International Comparison

Volume/Issue: 2005/62

Series: IMF Working Papers

Author(s): Ian Lienert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860818

Keywords: public management, budget, law, decree, performance, civil servants, financial management, external audit, decentralization, budget systems

There has been widespread adoption of new laws to support new public management. In many countries that have implemented comprehensive and deep reforms, new or amended laws have fundamentally changed the role of th...

Are More Competitive Banking Systems More Stable?

Are More Competitive Banking Systems More Stable? »

Source: Are More Competitive Banking Systems More Stable?

Volume/Issue: 2006/143

Series: IMF Working Papers

Author(s): Martin Cihak , Simon Wolfe , and Klaus Schaeck

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

ISBN: 9781451864038

Keywords: banking competition, market structure, regulation, duration analysis, banking, statistic, banking system, probability, Financial Institutions and Services: Government Policy and Regulation,

This paper provides the first empirical analysis of the cross-country relationship between a direct measure of competitive conduct of financial institutions and banking system fragility. Using the Panzar and Rosse...