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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...

Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe

Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe »

Source: Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe

Volume/Issue: 2008/219

Series: IMF Working Papers

Author(s): Deniz Igan , and Natalia Tamirisa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870770

Keywords: boom, bank, soundness, transition, equation, net interest margin, statistics,

This paper examines the behavior of bank soundness indicators during episodes of brisk loan growth, using bank-level data for central and eastern Europe and controlling for the feedback effect of credit growth on b...

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...

Assessing the Variability of Tax Elasticities in Lithuania

Assessing the Variability of Tax Elasticities in Lithuania »

Source: Assessing the Variability of Tax Elasticities in Lithuania

Volume/Issue: 2011/270

Series: IMF Working Papers

Author(s): Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463925222

Keywords: tax revenues, tax compliance, tax system, Multiple or Simultaneous Equation Models: Time-Series Models,

This paper quantifies the variability of tax elasticities in Lithuania using two alternative methods: rolling regressions and pooled mean group estimator. The analysis is motivated by the systematic variation of ta...

Competitiveness in Transition Economies

Competitiveness in Transition Economies »

Source: Competitiveness in Transition Economies : What Scope for Real Appreciation?

Volume/Issue: 1997/149

Series: IMF Working Papers

Author(s): Kornelia Krajnyak , and Jeronimo Zettelmeyer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1997

ISBN: 9781451923551

Keywords: wage, transition economies, trading partners, transition economy

This paper estimates equilibrium dollar wages for 15 transition economies. Equilibrium dollar wages are interpreted as full employment wages consistent with a country’s physical and human capital endowment,...

Corporate and Household Debt Distress in Latvia

Corporate and Household Debt Distress in Latvia »

Source: Corporate and Household Debt Distress in Latvia : Strengthening the Incentives for Market-Based Approach to Debt Resolution

Volume/Issue: 2011/85

Series: IMF Working Papers

Author(s): Magnus Saxegaard , Michaela Erbenova , and Yan Liu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

ISBN: 9781455226030

Keywords: insolvency law, debt, restructuring, insolvency, loans, Other Substantive Areas of Law: General,

This paper reviews Latvia's efforts to manage the increase in debt distress resulting from the unwinding of the 2000-07 credit boom and spillovers from the global financial crisis. The authorities have designed a s...

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...

Defining, Measuring and Alleviating Poverty in an Economy in Transition

Defining, Measuring and Alleviating Poverty in an Economy in Transition »

Source: Defining, Measuring and Alleviating Poverty in an Economy in Transition : The Case of Lithuania

Volume/Issue: 1994/116

Series: IMF Working Papers

Author(s): Peter Cornelius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1994

ISBN: 9781451942248

Keywords: social safety net, social benefits, poverty line, social assistance, distribution of income

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...

Does Supply or Demand Drive the Credit Cycle? Evidence from Central, Eastern, and Southeastern Europe1

Does Supply or Demand Drive the Credit Cycle? Evidence from Central, Eastern, and Southeastern Europe1 »

Source: Does Supply or Demand Drive the Credit Cycle? Evidence from Central, Eastern, and Southeastern Europe

Volume/Issue: 2015/15

Series: IMF Working Papers

Author(s): Greetje Everaert , Natasha Che , Nan Geng , Bertrand Gruss , Gregorio Impavido , Yinqiu Lu , Christian Saborowski , Jérôme Vandenbussche , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2015

ISBN: 9781484379981

Keywords: Credit Supply, Disequilibrium Model, bank, banks, loans, capital, General, Disequilibrium Model.,

Countries in Central, Eastern, and Southeastern Europe (CESEE) experienced a credit boom-bust cycle in the last decade. This paper analyzes the roles of demand and supply factors in explaining this credit cycle. Ou...