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Accounting for Macrofinancial Fluctuations and Turbulence

Accounting for Macrofinancial Fluctuations and Turbulence »

Source: Accounting for Macrofinancial Fluctuations and Turbulence

Volume/Issue: 2018/238

Series: IMF Working Papers

Author(s): Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484381571

Keywords: Macrofinancial analysis; World economy; Dynamic stochastic general equilibrium model; Autoregressive conditional heteroskedasticity, Macrofinancial analysis, World economy, Dynamic stochastic general equilibrium model, Autoregressive conditional heteroskedasticity, General, Monetary Policy (Targets, Instruments, and Effects)

This paper investigates the sources of macrofinancial fluctuations and turbulence within the framework of an approximate linear dynamic stochastic general equilibrium model of the world economy, augmented with stru...

Chapter 2 Background

Chapter 2 Background »

Source: Creating Policy Space in Low-Income Countries during the Recent Crises

Series: Departmental Papers / Policy Papers

Author(s): Paolo Dudine , Sibabrata Das , Pritha Mitra , Yongzheng Yang , Eteri Kvintradze , and Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069305

Keywords: Financial assistance, Fund-supported adjustment programs, Global Financial Crisis 2008-2009, Low-income developing countries, conditionality, structural conditionality, current account, balance of payments, debt sustainability

The IMF has been at the forefront in helping low-income countries (LICs) address the macroeconomic impact of the global food, fuel, and financial crises. LICs were hard hit by massive increases in food and f...

CHAPTER 12 Bedfellows, Hostages, or Perfect Strangers? Global Capital Markets and the Catalytic Effect of IMF Crisis Lending

CHAPTER 12 Bedfellows, Hostages, or Perfect Strangers? Global Capital Markets and the Catalytic Effect of IMF Crisis Lending »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction Ever since Walter Bagehot’s times, it has been recognized that emergency liquidity support, to be effective, must in principle be unlimited. Of course, the precept shoul...

Chapter 5 Conclusions

Chapter 5 Conclusions »

Source: Creating Policy Space in Low-Income Countries during the Recent Crises

Series: Departmental Papers / Policy Papers

Author(s): Paolo Dudine , Sibabrata Das , Pritha Mitra , Yongzheng Yang , Eteri Kvintradze , and Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2010

ISBN: 9781589069305

Keywords: Financial assistance, Fund-supported adjustment programs, Global Financial Crisis 2008-2009, Low-income developing countries, conditionality, structural conditionality, current account, balance of payments, debt sustainability

Over the past decade, since the advent of the PRGF, the Fund has sought to refocus its programs with LIC members. Macroeconomic policies, though still geared toward ensuring sustainability, were intended to...

CHAPTER 8 Different Strokes? Common and Uncommon Responses to Financial Crises

CHAPTER 8 Different Strokes? Common and Uncommon Responses to Financial Crises »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction The recent proliferation of literature on international financial crises has demonstrated the variegation of causes leading countries to economic disaster. Once thought...

CHAPTER 3 Do IMF-Supported Programs Boost Private Capital Inflows? The Role of Program Size and Policy Adjustment

CHAPTER 3 Do IMF-Supported Programs Boost Private Capital Inflows? The Role of Program Size and Policy Adjustment »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction What determines the success of IMF-supported programs? A simple approach is to ask whether the financing that a country can raise from private sources meets or exceeds t...

CHAPTER 6 Efficiency and Legitimacy: Trade-Offs in IMF Governance

CHAPTER 6 Efficiency and Legitimacy: Trade-Offs in IMF Governance »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction The ability of an international organization to achieve its goals ultimately rests on its legitimacy (Woods, 2000; and Van Houtven, 2002, p. 66). Legitimacy means that i...

CHAPTER 15 Evaluating IMF-Supported Programs in the 1990s: The Importance of Taking Explicit Account of Stoppages

CHAPTER 15 Evaluating IMF-Supported Programs in the 1990s: The Importance of Taking Explicit Account of Stoppages »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction During the past two decades, a number of studies have explored whether IMF programs are effective in improving participating countries’ current account, inflation, and g...

CHAPTER 5 Fiscal Policy, Expenditure Composition, and Growth in Low-Income Countries

CHAPTER 5 Fiscal Policy, Expenditure Composition, and Growth in Low-Income Countries »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction A large body of empirical research supports the notion that healthy budgetary balances are, over the long run, good for growth (Easterly, Rodriguez, and Schmidt-Hebbel,...

CHAPTER 7 IMF Conditionality and Country Ownership of Adjustment Programs

CHAPTER 7 IMF Conditionality and Country Ownership of Adjustment Programs »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction International Monetary Fund (IMF) lending in support of adjustment programs is conditional on the borrowing countries adopting certain agreed policies. The conditions at...