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Assessing China's Residential Real Estate Market

Assessing China's Residential Real Estate Market »

Source: Assessing China's Residential Real Estate Market

Volume/Issue: 2017/248

Series: IMF Working Papers

Author(s): Ding Ding , Xiaoyu Huang , Tao Jin , and W. Raphael Lam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 2017

ISBN: 9781484324813

Keywords: Asia and Pacific, Macroprudential Policy, Central banks and their policies, China real estate market, housing bubbles, Monetary Policy (Targets, Instruments, and Effects), Housing Supply and Markets, Bayesian Analysis

China's real estate market rebounded sharply after a temporary slowdown in 2014-2015. This paper uses city-level data to estimate the range of house price overvaluation across city-tiers and assesses the main risks...

China’s Monetary Policy and Interest Rate Liberalization

China’s Monetary Policy and Interest Rate Liberalization »

Source: China's Monetary Policy and Interest Rate Liberalization : Lessons from International Experiences

Volume/Issue: 2014/75

Series: IMF Working Papers

Author(s): Wei Liao , and Sampawende Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2014

ISBN: 9781484366295

Keywords: Financial Liberalization, Financial Innovation, Money Demand Function, financial reforms, financial market, money demand, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments, and Effects)

China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of prog...

Cost-Benefit Analysis of Leaning Against the Wind

Cost-Benefit Analysis of Leaning Against the Wind »

Source: Cost-Benefit Analysis of Leaning Against the Wind

Volume/Issue: 2016/3

Series: IMF Working Papers

Author(s): Lars Svensson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2016

ISBN: 9781498314787

Keywords: macroprudential policy, unemployment, unemployment rate, debt, marginal cost, benchmark, Monetary Policy (Targets, Instruments, and Effects), All Countries

“Leaning against the wind” (LAW) with a higher monetary policy interest rate may have benefits in terms of lower real debt growth and associated lower probability of a financial crisis but has costs in terms of hig...

The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies

The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies »

Source: The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies

Volume/Issue: 2015/18

Series: IMF Working Papers

Author(s): Sohrab Rafiq

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2015

ISBN: 9781498334037

Keywords: unconventional monetary policy, interest rates, exchange rate, international monetary fund, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics,

This paper explores the effect of U.S. unconventional monetary policy (QE2) on a group of frontier developing economies (FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have...

Financial Crisis, US Unconventional Monetary Policy and International Spillovers1

Financial Crisis, US Unconventional Monetary Policy and International Spillovers1 »

Source: Financial Crisis, US Unconventional Monetary Policy and International Spillovers

Volume/Issue: 2015/85

Series: IMF Working Papers

Author(s): Qianying Chen , Andrew Filardo , Dong He , and Feng Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2015

ISBN: 9781475520668

Keywords: emerging economies, global VAR, international monetary policy spillovers, quantitative easing, unconventional monetary policy, federal reserve, securities, reserve, Financial Markets and the Macroeconomy, Monetary Policy (Targets

We study the impact of the US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error-correction model (GVECM) and conducting counterfactual analyses. We focus on the...

Food Inflation in India

Food Inflation in India »

Source: Food Inflation in India : The Role for Monetary Policy

Volume/Issue: 2014/178

Series: IMF Working Papers

Author(s): Rahul Anand , Ding Ding , and Volodymyr Tulin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

ISBN: 9781484392096

Keywords: food inflation, monetary fund, inflation dynamics, real interest rate, Monetary Policy (Targets, Instruments, and Effects), Forecasting and Simulation, Fiscal and Monetary Policy in Development,

Indian food and fuel inflation has remained high for several years, and second-round effects on core inflation are estimated to be large. This paper estimates the size of second-round effects using an estimated red...

GPM6

GPM6 »

Source: GPM6 : The Global Projection Model with 6 Regions

Volume/Issue: 2013/87

Series: IMF Working Papers

Author(s): Ioan Carabenciov , Charles Freedman , Roberto Garcia-Saltos , Douglas Laxton , Ondra Kamenik , and Petar Manchev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2013

ISBN: 9781484318942

Keywords: Macroeconomic Modeling, Bayesian Estimation, exchange rate, inflation, real exchange rate, real interest rate, Model Construction and Estimation, Monetary Policy (Targets, Instruments, and Effects),

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

The Growth and Stabilization Properties of Fiscal Policy in Malaysia

The Growth and Stabilization Properties of Fiscal Policy in Malaysia »

Source: The Growth and Stabilization Properties of Fiscal Policy in Malaysia

Volume/Issue: 2013/149

Series: IMF Working Papers

Author(s): Sohrab Rafiq

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2013

ISBN: 9781484337912

Keywords: Stabilization, Multipliers, Time-variation, government spending, fiscal multipliers, fiscal stimulus, government spending shocks, Monetary Policy (Targets, Instruments, and Effects)

This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government spending shock leads to broad positive economic effects. Although, the effectiveness of fiscal...

How Important are Debt and Growth Expectations for Interest Rates?

How Important are Debt and Growth Expectations for Interest Rates? »

Source: How Important are Debt and Growth Expectations for Interest Rates?

Volume/Issue: 2015/94

Series: IMF Working Papers

Author(s): Sohrab Rafiq

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2015

ISBN: 9781484358603

Keywords: time-variation, debt, interest, interest rates, forward rates, private sector debt, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics,

This paper uses a dataset on private-sector risk aversion as well as expectations of long-run growth and debt to explain trends in implied forward rates on government bonds in the G-7 countries. The results show, c...

Islamic Finance
			: Opportunities, Challenges, and Policy Options

Islamic Finance : Opportunities, Challenges, and Policy Options »

Volume/Issue: 2015/5

Series: Staff Discussion Notes

Author(s): Alfred Kammer , Mohamed Norat , Marco Pinon , Ananthakrishnan Prasad , Christopher Towe , and Zeine Zeidane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 April 2015

DOI: http://dx.doi.org/10.5089/9781498325035.006

ISBN: 9781498325035

Keywords: Islamic finance, Islamic banking, participation finance, financial regulations, Sukuk markets, infrastructure finance, financial inclusion, monetary policy, macroprudential policy, tax policy

The SDN discusses the main policy issues and challenges in building an inclusive and safe Islamic finance industry, with emphasis on Islamic banking and Sukuk markets. To this end, it discuses why Islamic finance m...