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Accounting discretion of banks during a financial crisis

Accounting discretion of banks during a financial crisis »

Source: Accounting discretion of banks during a financial crisis

Volume/Issue: 2009/207

Series: IMF Working Papers

Author(s): Luc Laeven , and Harry Huizinga

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873542

Keywords: Key bank regulation, fair value accounting, corporate disclosure, real estate, real estate loans, tier 1 capital, bank assets, real estate loan,

This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially...

Adding Latin America to the Global Projection Model1

Adding Latin America to the Global Projection Model1 »

Source: Adding Latin America to the Global Projection Model

Volume/Issue: 2009/85

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872323

Keywords: Macroeconomic Modeling, Bayesian Estimation, inflation, equation, forecasting, real interest rate,

This is the fourth of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which e...

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...

Adopting Currency Convertibility

Adopting Currency Convertibility »

Source: Adopting Currency Convertibility : Experiences and Monetary Policy Considerations for Advanced Developing Countries

Volume/Issue: 1994/96

Series: IMF Working Papers

Author(s): Peter Quirk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1994

ISBN: 9781451950052

Keywords: exchange rate, capital inflows, foreign exchange, domestic credit, capital movements

This paper analyses issues for developing countries with structurally sound balance of payments that are considering a move to full currency convertibility. The main experiences of industrial countries in their dec...

After the Crisis

After the Crisis »

Source: After the Crisis : Lower Consumption Growth But Narrower Global Imbalances?

Volume/Issue: 2010/11

Series: IMF Working Papers

Author(s): Franziska Ohnsorge , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

ISBN: 9781451961966

Keywords: current account adjustment, consumption growth, disposable income, household wealth, income growth, private consumption,

We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary behavior in the face of uncertainty. We find that in the short run, continued income uncertaint...

After the Fall

After the Fall »

Source: After the Fall : Lessons for Policy Cooperation from the Global Crisis

Volume/Issue: 2014/97

Series: IMF Working Papers

Author(s): Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2014

ISBN: 9781498375764

Keywords: Policy cooperation, institutuinal coarregements, policy spillovers, central bank, monetary fund, financial stability, monetary policies, International Monetary Arrangements and Institutions, Open Economy Macroeconomics, institutional coarrangements,

A crisis is a terrible thing to waste, and nowhere is this truer than in the arena of international economic policy cooperation. With the world facing the largest and most synchronized plunge in output of the postw...

Aggregate Investment Expenditures on Tradable and Nontradable Goods

Aggregate Investment Expenditures on Tradable and Nontradable Goods »

Source: Aggregate Investment Expenditures on Tradable and Nontradable Goods

Volume/Issue: 2008/45

Series: IMF Working Papers

Author(s): Rudolfs Bems

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

ISBN: 9781451869071

Keywords: tradable and nontradable goods, expenditure, expenditures, investment expenditures, input-output, expenditure share,

This paper shows that aggregate investment expenditure shares on tradable and nontradable goods are very similar across countries and regions. Furthermore, the two expenditure shares have remained close to constant...

Aggregate Uncertainty and the Supply of Credit

Aggregate Uncertainty and the Supply of Credit »

Source: Aggregate Uncertainty and the Supply of Credit

Volume/Issue: 2013/241

Series: IMF Working Papers

Author(s): Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2013

ISBN: 9781475513936

Keywords: Credit Cycles, Credit Crunch, Uncertainty, Self-insurance, real gdp, bank capital, gdp growth, bank capitalization, bank size, General

Recent studies show that uncertainty shocks have quantitatively important effects on the real economy. This paper examines one particular channel at work: the supply of credit. It presents a model in which a bank,...

Aggregation of Economic Indicators Across Countries

Aggregation of Economic Indicators Across Countries »

Source: Aggregation of Economic Indicators Across Countries : Exchange Rate versus PPP Based GDP Weights

Volume/Issue: 1992/36

Series: IMF Working Papers

Author(s): Marianne Schulze-Gattas , and Anne Gulde

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1992

ISBN: 9781451845396

Keywords: exchange rate, market exchange rates, market exchange rate

Relative GDP shares are frequently used as weights in aggregations. In order to ensure that these weights reflect countries’ shares in real output, GDP data in national currencies should be converted into a...

Aging, Savings, and Pensions in the Group of Seven Countries: 1980-2025

Aging, Savings, and Pensions in the Group of Seven Countries: 1980-2025 »

Source: Aging, Savings, and Pensions in the Group of Seven Countries : 1980-2025

Volume/Issue: 1989/13

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1989

ISBN: 9781451924657

Keywords: elderly, private savings, pensions, dependency, pension

In the next 30-40 years, past changes in fertility and mortality will lead to a significant increase in the share of the elderly. This study suggests that these demographic trends may lead to a decline in the G-7 p...