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Quantity Controls, License Transferability, and the Level of Investment

Quantity Controls, License Transferability, and the Level of Investment »

Volume/Issue: 2001/206

Series: IMF Working Papers

Author(s): Ling Tan , Kala Krishna , and Ram Ranjan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

DOI: http://dx.doi.org/10.5089/9781451874600.001

ISBN: 9781451874600

Keywords: licensing, transferability, tradable quotas, entry, equation, equations, competitive industry, unit of capital, factor demand, Firm Behavior

This paper models investment/entry decisions in a competitive industry that is subject to a quantity control on an input for production. The quantity control is implemented by auctioning licenses for the restricted...

Resolution of Banking Crises
			: The Good, the Bad, and the Ugly

Resolution of Banking Crises : The Good, the Bad, and the Ugly »

Volume/Issue: 2010/146

Series: IMF Working Papers

Author(s): Luc Laeven , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201297.001

ISBN: 9781455201297

Keywords: government intervention, macroeconomic policy, banking, recapitalization, banking crises, bank failures, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Macroeconomic Aspects of Public Finance

This paper presents a new database of systemic banking crises for the period 1970-2009. While there are many commonalities between recent and past crises, both in terms of underlying causes and policy responses, th...

Some Algebra of Fiscal Transparency
			: How Accounting Devices Work and How to Reveal Them

Some Algebra of Fiscal Transparency : How Accounting Devices Work and How to Reveal Them »

Volume/Issue: 2012/228

Series: IMF Working Papers

Author(s): Timothy Irwin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2012

DOI: http://dx.doi.org/10.5089/9781475510577.001

ISBN: 9781475510577

Keywords: accounting devices, accrual accounting, cash accounting, government finance, full accrual accounting, government finance statistics, National Budget, Deficit, and Debt: General,

Accounting devices that artificially reduce the measured fiscal deficit can be analyzed as transactions involving unrecognized assets and liabilities. Different accounting systems recognize different sets of assets...

Spillovers of Domestic Shocks
			: Will They Counteract the 'Great Moderation'?

Spillovers of Domestic Shocks : Will They Counteract the 'Great Moderation'? »

Volume/Issue: 2010/78

Series: IMF Working Papers

Author(s): Ashoka Mody , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

DOI: http://dx.doi.org/10.5089/9781451982213.001

ISBN: 9781451982213

Keywords: Output growth volatility, vertical specialization, output growth, domestic shocks, global trade,

Even prior to the extreme volatility just observed, output growth volatility-following protracted decline-was flattening or mildly rising in some countries. More widespread was an increasing tendency from the mid-1...

Systemic Banking Crises Database
			: An Update

Systemic Banking Crises Database : An Update »

Volume/Issue: 2012/163

Series: IMF Working Papers

Author(s): Fabian Valencia , and Luc Laeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475505054.001

ISBN: 9781475505054

Keywords: banking, banking crises, recapitalization, bank claims, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal c...

Too Much Finance?

Too Much Finance? »

Volume/Issue: 2012/161

Series: IMF Working Papers

Author(s): Enrico Berkes , Ugo Panizza , and Jean-Louis Arcand

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504668.001

ISBN: 9781475504668

Keywords: Financial development, Finance-growth nexus, gdp growth, correlation, gdp per capita, standard errors

This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too muc...

International R&D Spillovers and Institutions

International R&D Spillovers and Institutions »

Source: International R&D Spillovers and Institutions

Volume/Issue: 2008/104

Series: IMF Working Papers

Author(s): Alexander Hoffmaister , David Coe , and Elhanan Helpman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

ISBN: 9781451869651

Keywords: R&;amp;#x0026;D, Institutions, r &;amp; d, foreign r &;amp; d, cointegration, r &;amp; d spillovers, domestic r &;amp; d,

The empirical analysis in "International R&D Spillovers" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for...

A New Heuristic Measure of Fragility and Tail Risks

A New Heuristic Measure of Fragility and Tail Risks »

Source: A New Heuristic Measure of Fragility and Tail Risks : Application to Stress Testing

Volume/Issue: 2012/216

Series: IMF Working Papers

Author(s): Christian Schmieder , Tidiane Kinda , Nassim Taleb , Elena Loukoianova , and Elie Canetti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505665

Keywords: Stability, debt dynamics, sovereign debt, net debt, banking,

This paper presents a simple heuristic measure of tail risk, which is applied to individual bank stress tests and to public debt. Stress testing can be seen as a first order test of the level of potential negative...

Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies

Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies »

Source: Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies

Volume/Issue: 2011/161

Series: IMF Working Papers

Author(s): Mwanza Nkusu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781455297740

Keywords: macrofinancial linkages, nonperforming loans, business fluctuations, banking, macroeconomic performance, banking crises, macroeconomic variables, banks ? balance sheets, Financial Markets and the Macroeconomy,

We analyze the link between nonperforming loans (NPL) and macroeconomic performance using two complementary approaches. First, we investigate the macroeconomic determinants of NPL in panel regressions and confirm t...

Optimal and Sustainable Exchange Rate Regimes

Optimal and Sustainable Exchange Rate Regimes »

Source: Optimal and Sustainable Exchange Rate Regimes : A Simple Game-Theoretic Approach

Volume/Issue: 1992/100

Series: IMF Working Papers

Author(s): Masahiro Kawai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1992

ISBN: 9781451852325

Keywords: exchange rate, exchange rate regime, inflation, money supply

This paper examines the question of how to design an optimal and sustainable exchange rate regime in a world economy of two interdependent countries. It develops a Barro-Gordon type two-country model and compares n...