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The Accountability of Financial Sector Supervisors

The Accountability of Financial Sector Supervisors »

Source: The Accountability of Financial Sector Supervisors : Principles and Practice

Volume/Issue: 2005/51

Series: IMF Working Papers

Author(s): Michael Taylor , Marc Quintyn , and Eva Hüpkes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860702

Keywords: Financial regulation, regulatory agencies, public administration accountability, banking, financial system, financial services, financial sector, financial institutions, General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation

Policymakers' uneasiness about granting independence to financial sector regulators stems to a large extent from the lack of familiarity with, and elusiveness of, the concept of accountability. This paper gives ope...

Accrual Budgeting and Fiscal Policy

Accrual Budgeting and Fiscal Policy »

Source: Accrual Budgeting and Fiscal Policy

Volume/Issue: 2009/84

Series: IMF Working Papers

Author(s): Marc Robinson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872316

Keywords: fiscal stabilization policy, net worth, control totals, net lending, aggregate expenditure, expenditure, capital expenditure,

Can an accrual budgeting system-a system in which budgetary spending authorizations to line ministries are formulated in accrual terms-serve the needs of good fiscal policy? If so, how must such a system be designe...

Additions to Market Indices and the Comovement of Stock Returns Around the World

Additions to Market Indices and the Comovement of Stock Returns Around the World »

Source: Additions to Market Indices and the Comovement of Stock Returns Around the World

Volume/Issue: 2011/47

Series: IMF Working Papers

Author(s): Yishay Yafeh , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455218950

Keywords: Index inclusion, stock price comovements, category, habitat and information theories, index-based investment, investors, institutional investors, stock market, stock price, stock prices,

Using newly-constructed data covering the last decade, we document that, in most of forty markets, when added to the main index, firms' returns experience an increase in comovement with the rest of the index, refle...

Addressing Interconnectedness

Addressing Interconnectedness »

Source: Addressing Interconnectedness : Concepts and Prudential Tools

Volume/Issue: 2013/199

Series: IMF Working Papers

Author(s): Nicolas Arregui , Mohamed Norat , Antonio Pancorbo , Jodi Scarlata , Eija Holttinen , Fabiana Melo , Jay Surti , Christopher Wilson , Rodolfo Wehrhahn , and Mamoru Yanase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 2013

ISBN: 9781475531855

Keywords: network analysis, prudential tools, policymakers, systemic risk, banking, banking system, banking sector, bank reporting, interbank market, General

This paper reviews tools used to identify and measure interconnectedness and raises the awareness of policymakers as to potential cross-sectional implications of prudential tools aimed at controlling interconnected...

Aggregate Stability and Balanced-Budget Rules

Aggregate Stability and Balanced-Budget Rules »

Source: Aggregate Stability and Balanced-Budget Rules

Volume/Issue: 2014/23

Series: IMF Working Papers

Author(s): Matteo Ghilardi , and Raffaele Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 February 2014

ISBN: 9781475582291

Keywords: Constant Elasticity of Substitution, Indeterminacy, elasticity of substitution, tax rates, taxation,

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by...

Alternative Models of Wage Dispersion

Alternative Models of Wage Dispersion »

Source: Alternative Models of Wage Dispersion

Volume/Issue: 2005/64

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860832

Keywords: Search equilibrium, wage posting, wage dispersion, labor theory, wage, worker, equations, Seach equilibrium,

We analyze labor market models where the law of one price does not hold-that is, models with equilibrium wage dispersion. We begin by assuming workers are ex ante heterogeneous, and highlight a flaw with this appro...

Ambiguity, Transparency, and Institutional Strength

Ambiguity, Transparency, and Institutional Strength »

Source: Ambiguity, Transparency, and Institutional Strength

Volume/Issue: 2004/115

Series: IMF Working Papers

Author(s): S. Erbas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

ISBN: 9781451853896

Keywords: risk, Knightian uncertainty, vertical and horizontal integration, institutions, probability, probabilities, investors, investment decisions, expected value, Analysis of Collective Decision-Making: General

Institutional transparency makes future contingencies more easily predictable for investors. Greater transparency can be achieved through vertical and horizontal integration of policy rules, which may result in low...

American in the Shadows

American in the Shadows »

Source: American in the Shadows : Harry Dexter White and the Design of the International Monetary Fund

Volume/Issue: 2006/6

Series: IMF Working Papers

Author(s): James Boughton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862669

Keywords: Harry Dexter White, exchange regimes, gold, silver, monetary fund, monetary system, History of Thought: Individuals, International Monetary Arrangements and Institutions, White, Harry Dexter,

Two economists designed the main features of the charter of the IMF during World War II: John Maynard Keynes and Harry Dexter White. Several of those features are attributable primarily to White, including the adop...

An Analysis of Reserve Tranche Positions and their Use

An Analysis of Reserve Tranche Positions and their Use »

Source: An Analysis of Reserve Tranche Positions and their Use

Volume/Issue: 1988/107

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 December 1988

ISBN: 9781451946659

Keywords: reserve tranche, reserve tranche positions, balance of payments, current account, reserve assets

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

Are All Summary Indicators of the Stance of Fiscal Policy Misleading?

Are All Summary Indicators of the Stance of Fiscal Policy Misleading? »

Source: Are All Summary Indicators of the Stance of Fiscal Policy Misleading?

Volume/Issue: 1988/112

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 December 1988

ISBN: 9781451944501

Keywords: fiscal policy, expenditure, fiscal impulse, expenditures, fiscal stance

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...