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Rethinking Financial Deepening

Rethinking Financial Deepening »

Source: Rethinking Financial Deepening : Stability and Growth in Emerging Markets

Volume/Issue: 2015/8

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Martin Cihak , Papa N'Diaye , Adolfo Barajas , Diana Ayala Pena , Ran Bi , Yuan Gao , Annette Kyobe , Lam Nguyen , Christian Saborowski , Katsiaryna Svirydzenka , and Reza Yousefi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 May 2015

ISBN: 9781498312615

Keywords: Economic growth, Emerging markets, Financial stability, financial development, financial deepening, financial inclusion, finance, General, Government Policy and Regulation, Estabilidad financiera; Crecimiento económico; Desarrollo del mercado de capitales; Acceso a los mercados de capitales; Mercados emergentes

The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn f...

Rethinking Macro Policy II

Rethinking Macro Policy II »

Source: Rethinking Macro Policy II : Getting Granular

Volume/Issue: 2013/3

Series: Staff Discussion Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2013

ISBN: 9781484363478

Keywords: Financial stability, Fiscal consolidation, Central banks and their policies, Central banks, Capital flows, Public debt, Stabilization measures, Fiscal policy, Inflation targeting, Monetary policy

This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments in monetary policy, including unconventional measures; the challenges associ...

Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe

Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe »

Source: Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe

Volume/Issue: 2015/7

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Ali Al-Eyd , Bergljot Barkbu , and Andreas Jobst

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2015

ISBN: 9781498397643

Keywords: Financial intermediation, Structured finance, macro-financial linkages, SME finance, market, finance, markets, investment, debt, Financial Markets and the Macroeconomy

Small and medium-sized enterprises (SMEs) account for a disproportionate share of output and employment in Europe but are still highly dependent on bank finance, which dried up or became prohibitively expensive dur...

A Strategy for Resolving Europe’s Problem Loans

A Strategy for Resolving Europe’s Problem Loans »

Source: A Strategy for Resolving Europe's Problem Loans

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

A Strategy for Resolving Europe’s Problem Loans1

A Strategy for Resolving Europe’s Problem Loans1 »

Source: A Strategy for Resolving Europe's Problem Loans

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

Wage Moderation in Crises

Wage Moderation in Crises »

Source: Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area

Volume/Issue: 2015/22

Series: Staff Discussion Notes

Author(s): Jörg Decressin , Raphael Espinoza , Ioannis Halikias , Michael Kumhof , Daniel Leigh , Prakash Loungani , Paulo Medas , Susanna Mursula , Antonio Spilimbergo , and TengTeng Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

ISBN: 9781513537009

Keywords: Wage bargaining, Euro Area, Wage adjustments, Negative spillovers, Monetary policy, Euro area, Crisis, Current account, Internal devaluation, Unemployment

The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy...

Youth Unemployment in Advanced Economies in Europe: Searching for Solutions

Youth Unemployment in Advanced Economies in Europe: Searching for Solutions »

Source: Youth Unemployment in Advanced Economies in Europe : Searching for Solutions

Volume/Issue: 2014/11

Series: Staff Discussion Notes

Author(s): Angana Banerji , Sergejs Saksonovs , Huidan Lin , and Rodolphe Blavy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 December 2014

ISBN: 9781498337113

Keywords: Youth employment, youth unemployment, Okun&;amp;#x2019;s law, business cycle, labor market factors, unemployment, labor market, labor, unemployment rates, Labor Force and Employment

The SDN will assess the youth unemployment problem in advanced European countries, with a special focus on the euro area. It will document the main trends in youth and adult unemployment in 22 European countries be...