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Financial Development, Financial Fragility, and Growth

Financial Development, Financial Fragility, and Growth »

Source: Financial Development, Financial Fragility, and Growth

Volume/Issue: 2005/170

Series: IMF Working Papers

Author(s): Norman Loayza , and Romain Ranciere

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2005

ISBN: 9781451861891

Keywords: Growth empirics, pooled mean group estimation, financial volatility, financial intermediation, financial liberalization, banking crises, financial fragility, Macroeconomic Analyses of Economic Development,

This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positiv...

Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi

Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi »

Source: IMF Staff Papers, Volume 51, No. 1

Volume: 51

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2004

ISBN: 9781589063228

Keywords: expenditure, bribe, government expenditure, bribes, Banks and banking, Special Drawing Rights (SDR), Capital Stock, Cointegration, Demand (economic Theory), Empirical Methods

This first issue of Volume 51 for 2004 includes a new paper by Peter B. Clark and Jacques J. Polak, along with a tribute from the Editor to Mr. Polak in honor of his 90th birthday. This issue also launches a new fe...

Growth Empirics Under Model Uncertainty

Growth Empirics Under Model Uncertainty »

Source: Growth Empirics Under Model Uncertainty : Is Africa Different?

Volume/Issue: 2005/18

Series: IMF Working Papers

Author(s): Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

ISBN: 9781451860375

Keywords: growth regressions, Bayesian model averaging, dynamic panel estimation, debt, probability, samples, debt service, external debt, Bayesian Analysis, Multiple or Simultaneous Equation Models: Models with Panel Data

This paper attempts to identify robust patterns of cross-country growth behavior in the world as a whole and Africa. It employs a novel methodology that incorporates a dynamic panel estimator, and Bayesian Model Av...

High Inflation and Real Wages

High Inflation and Real Wages »

Source: IMF Staff Papers, Volume 51, No. 1

Volume: 51

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2004

ISBN: 9781589063228

Keywords: expenditure, bribe, government expenditure, bribes, Banks and banking, Special Drawing Rights (SDR), Capital Stock, Cointegration, Demand (economic Theory), Empirical Methods

This first issue of Volume 51 for 2004 includes a new paper by Peter B. Clark and Jacques J. Polak, along with a tribute from the Editor to Mr. Polak in honor of his 90th birthday. This issue also launches a new fe...

How Persistent Are Shocks to World Commodity Prices?

How Persistent Are Shocks to World Commodity Prices? »

Source: How Persistent Are Shocks to World Commodity Prices?

Volume/Issue: 1999/80

Series: IMF Working Papers

Author(s): Hong Liang , C. McDermott , and Paul Cashin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1999

ISBN: 9781451850284

Keywords: Commodity prices, median-unbiased estimation, shock persistence, price stabilization, time series, export earnings, confidence interval, confidence intervals

This paper examines the persistence of shocks to world commodity prices, using monthly IMF data on primary commodities between 1957–98. We find that shocks to commodity prices are typically long–lasti...

The IMF and Russia in the 1990s

The IMF and Russia in the 1990s »

Source: IMF Staff Papers, Volume 53, No. 1

Volume: 53

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589065093

Keywords: russia, trade flows, import duties, standard errors, trade restrictions, Capital Stock, Credit Market, Economic Shocks, Estimation Theory, Expertise

This first issue for 2006 is anchored by two papers on Russia. The opening paper discusses Russia and the World Trade Organization, and the concluding paper, by John Odling-Smee (former Director of the IMF's Europe...

IMF Staff Papers, Volume 53, No. 1

IMF Staff Papers, Volume 53, No. 1 »

Volume: 53

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

DOI: http://dx.doi.org/10.5089/9781589065093.024

ISBN: 9781589065093

Keywords: russia, trade flows, import duties, standard errors, trade restrictions, Capital Stock, Credit Market, Economic Shocks, Estimation Theory, Expertise

This first issue for 2006 is anchored by two papers on Russia. The opening paper discusses Russia and the World Trade Organization, and the concluding paper, by John Odling-Smee (former Director of the IMF's Europe...

IMF Staff Papers, Volume 51, No. 1

IMF Staff Papers, Volume 51, No. 1 »

Volume: 51

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2004

DOI: http://dx.doi.org/10.5089/9781589063228.024

ISBN: 9781589063228

Keywords: expenditure, bribe, government expenditure, bribes, Banks and banking, Special Drawing Rights (SDR), Capital Stock, Cointegration, Demand (economic Theory), Empirical Methods

This first issue of Volume 51 for 2004 includes a new paper by Peter B. Clark and Jacques J. Polak, along with a tribute from the Editor to Mr. Polak in honor of his 90th birthday. This issue also launches a new fe...

A Bayesian-Estimated Model of Inflation Targeting in South Africa

A Bayesian-Estimated Model of Inflation Targeting in South Africa »

Volume/Issue: 2008/48

Series: IMF Working Papers

Author(s): Thomas Harjes , and Luca Ricci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

DOI: http://dx.doi.org/10.5089/9781451869101.001

ISBN: 9781451869101

Keywords: monetary model, Bayesian estimation, monetary policy, real interest rate, monetary transmission,

This paper estimates a small dynamic macroeconomic model for the South African economy with Bayesian methods. The model is tailored to assessing the impact of domestic as well as external shocks on inflation within...

A Model for Full-Fledged Inflation Targeting and Application to Ghana

A Model for Full-Fledged Inflation Targeting and Application to Ghana »

Volume/Issue: 2010/25

Series: IMF Working Papers

Author(s): Kevin Clinton , Jihad Dagher , Ondrej Kamenik , Douglas Laxton , Ali Alichi , and Marshall Mills

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

DOI: http://dx.doi.org/10.5089/9781451962444.001

ISBN: 9781451962444

Keywords: inflation, central bank, low inflation, Model Construction and Estimation

A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss fun...