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Quantity Controls, License Transferability, and the Level of Investment

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

Source: 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

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

Resolution of Banking Crises »

Source: 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

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

Some Algebra of Fiscal Transparency »

Source: 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

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

Spillovers of Domestic Shocks »

Source: 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

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 »

Source: 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

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?* »

Source: 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

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...

An Unbiased Appraisal of Purchasing Power Parity

An Unbiased Appraisal of Purchasing Power Parity »

Source: An Unbiased Appraisal of Purchasing Power Parity

Volume/Issue: 2001/196

Series: IMF Working Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451859966

Keywords: Median-unbiased estimation, shock persistence, exchange rate, exchange rates, confidence intervals, confidence interval, real exchange rates,

Univariate studies of the hypothesis of unit roots in real exchange rates have yielded consensus point estimates of the half-life of deviations from purchasing power parity of between three to five years. However,...