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Adjustment Under a Currency Peg

Adjustment Under a Currency Peg »

Source: Adjustment Under a Currency Peg : Estonia, Latvia and Lithuania During the Global Financial Crisis 2008-09

Volume/Issue: 2010/213

Series: IMF Working Papers

Author(s): Catriona Purfield , and Christoph Rosenberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

ISBN: 9781455205448

Keywords: Internal devaluation, boom bust, competitiveness, wage adjustment, global financial crisis, wage, benefits, wages, fiscal balance,

The paper traces the Baltics' adjustment strategy during the 2008-09 global financial crisis. The abrupt end to the externally-financed domestic demand boom triggered a severe output collapse, bringing per capita i...

Assessing the Risk of Private Sector Debt Overhang in the Baltic Countries

Assessing the Risk of Private Sector Debt Overhang in the Baltic Countries »

Source: Assessing the Risk of Private Sector Debt Overhang in the Baltic Countries

Volume/Issue: 2010/250

Series: IMF Working Papers

Author(s): Valerie Herzberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455209507

Keywords: private sector debt, Baltic economies, debt overhang, corporate sector, debt service, central bank, Financial Economics: General, Financial Institutions and Services: General,

Between 2000 and 2007 nonfinancial private sector credit expanded rapidly in the Baltic countries, resulting in a non-negligible build-up of debt. Could this legacy debt hold back the economic recovery of the regio...

Bank Funding in Central, Eastern and South Eastern Europe Post Lehman

Bank Funding in Central, Eastern and South Eastern Europe Post Lehman »

Source: Bank Funding in Central, Eastern and South Eastern Europe Post Lehman : A 'New Normal'?

Volume/Issue: 2013/148

Series: IMF Working Papers

Author(s): Gregorio Impavido , Heinz Rudolph , and Luigi Ruggerone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2013

ISBN: 9781484391082

Keywords: Global Regulatory Agenda, Bank Funding, Deleveraging, subsidiaries, capital inflows, capital market, capital markets, domestic capital, Government Policy and Regulation,

CESEE banks are reducing foreign funding sources in response to reduced external imbalances, reduced ability to tap international savings, banking group own strategies, initiatives by some regulators, and consisten...

Capital Structure and International Debt Shifting

Capital Structure and International Debt Shifting »

Source: Capital Structure and International Debt Shifting

Volume/Issue: 2007/39

Series: IMF Working Papers

Author(s): Luc Laeven , Harry Huizinga , and Gaetan Nicodeme

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2007

ISBN: 9781451866032

Keywords: tax rate, tax system, international tax, foreign tax, tax incentive, Article,

This paper presents a model of a multinational firm's optimal debt policy that incorporates international taxation factors. The model yields the prediction that a multinational firm's indebtedness in a country depe...

Cash Shortage in the Former Soviet Union

Cash Shortage in the Former Soviet Union »

Source: Cash Shortage in the Former Soviet Union

Volume/Issue: 1994/67

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451848861

Keywords: inflation, monetary union, monetary fund, money supply, monetary authority, European II,

An unexpected shortage of banknotes emerged during 1992 in the former Soviet Union. The cash shortage is explained by the asymmetry in the monetary union that prevailed, under which one member (the Russian Federati...

Central Bank Financial Strength, Transparency, and Policy Credibility

Central Bank Financial Strength, Transparency, and Policy Credibility »

Source: Central Bank Financial Strength, Transparency, and Policy Credibility

Volume/Issue: 2002/137

Series: IMF Working Papers

Author(s): Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2002

ISBN: 9781451855920

Keywords: Central bank losses, credibility, central bank, inflation, monetary fund, monetary policy

A central bank is financially strong if it possesses resources sufficient to attain its fundamental policy objective(s). Once endowed with those resources, relations between government and central bank should be de...

Conceptual Issues in Calibrating the Basel III Countercyclical Capital Buffer

Conceptual Issues in Calibrating the Basel III Countercyclical Capital Buffer »

Source: Conceptual Issues in Calibrating the Basel III Countercyclical Capital Buffer

Volume/Issue: 2019/86

Series: IMF Working Papers

Author(s): Torsten Wezel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2019

ISBN: 9781498312097

Keywords: Credit booms, Developing countries, Bank credit, Credit, Bank capital, Macroprudential Policy, Procyclicality, Basel III, CCB, RWA

This paper discusses issues in calibrating the countercyclical capital buffer (CCB) based on a sample of EU countries. It argues that the main indicator for buffer decisions under the Basel III framework, the credi...

The Cross-Country Incidence of the Global Crisis1

The Cross-Country Incidence of the Global Crisis1 »

Source: The Cross-Country Incidence of the Global Crisis

Volume/Issue: 2010/171

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , and Philip Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201822

Keywords: private credit, international financial integration, output growth, current account balance, short-term debt,

We examine whether the cross-country incidence and severity of the 2008-2009 global recession is systematically related to pre-crisis macroeconomic and financial factors. We find that the pre-crisis level of develo...

Decomposing Financial Risks and Vulnerabilities in Eastern Europe

Decomposing Financial Risks and Vulnerabilities in Eastern Europe »

Source: Decomposing Financial Risks and Vulnerabilities in Eastern Europe

Volume/Issue: 2007/248

Series: IMF Working Papers

Author(s): Rupert Worrell , Andrea Maechler , and Srobona Mitra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

ISBN: 9781451868111

Keywords: credit, banking, banking supervisors, payment systems, connected lending

This paper assesses how various types of financial risk such as credit risk, market risk, and liquidity risk affect banking stability in the ten countries that joined the European Union most recently, and eight nei...

Decoupling from the East Toward the West? Analyses of Spillovers to the Baltic Countries

Decoupling from the East Toward the West? Analyses of Spillovers to the Baltic Countries »

Source: Decoupling from the East Toward the West? Analyses of Spillovers to the Baltic Countries

Volume/Issue: 2009/125

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

ISBN: 9781451872729

Keywords: gdp growth, trading partners, real gdp, growth rate

This paper uses VAR models to examine the magnitude and sources of growth spillovers to the Baltics from key trading partners, as well asfrom the real effective exchange rate (REER). Our results show there are sign...