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The External Balance Assessment Methodology: 2018 Update

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The External Balance Assessment Methodology: 2018 Update »

Volume/Issue: 2019/65

Series: IMF Working Papers

Author(s): Luis Cubeddu , Signe Krogstrup , Gustavo Adler , Pau Rabanal , Mai Chi Dao , Swarnali Ahmed Hannan , Luciana Juvenal , Carolina Osorio Buitron , Cyril Rebillard , Daniel Garcia-Macia , Callum Jones , Jair Rodriguez , Kyun Suk Chang , Deepali Gautam , and Zijiao Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 March 2019

DOI: http://dx.doi.org/10.5089/9781498300933.001

ISBN: 9781498300933

Keywords: current account, exchange rates, external sustainability, global imbalances.

The assessment of external positions and exchange rates is a key mandate of the IMF. This paper presents the updated External Balance Assessment (EBA) framework-a key input in the conduct of multilaterally-consiste...

The External Balance Assessment Methodology: 2018 Update

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The External Balance Assessment Methodology: 2018 Update »

Source: The External Balance Assessment Methodology: 2018 Update

Volume/Issue: 2019/65

Series: IMF Working Papers

Author(s): Luis Cubeddu , Signe Krogstrup , Gustavo Adler , Pau Rabanal , Mai Chi Dao , Swarnali Ahmed Hannan , Luciana Juvenal , Carolina Osorio Buitron , Cyril Rebillard , Daniel Garcia-Macia , Callum Jones , Jair Rodriguez , Kyun Suk Chang , Deepali Gautam , and Zijiao Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 March 2019

ISBN: 9781498300933

Keywords: current account, exchange rates, external sustainability, global imbalances.

The assessment of external positions and exchange rates is a key mandate of the IMF. This paper presents the updated External Balance Assessment (EBA) framework-a key input in the conduct of multilaterally-consiste...

Liquidity Management under Fixed Exchange Rate with Open Capital Account

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Liquidity Management under Fixed Exchange Rate with Open Capital Account »

Volume/Issue: 2019/58

Series: IMF Working Papers

Author(s): Mariam El Hamiani Khatat , and Romain Veyrune

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2019

DOI: http://dx.doi.org/10.5089/9781498302913.001

ISBN: 9781498302913

Keywords: Fixed exchange rate regime, price-specie flow mechanism, uncovered interest rate parity, offset coefficients, monetary operations, autonomous factors, money and foreign exchange markets

This paper introduces a theoretical framework for liquidity management under fixed exchange rate arrangement, derived from the price-specie flow mechanism of David Hume. The framework highlights that the risk of sh...

Liquidity Management under Fixed Exchange Rate with Open Capital Account

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Liquidity Management under Fixed Exchange Rate with Open Capital Account »

Source: Liquidity Management under Fixed Exchange Rate with Open Capital Account

Volume/Issue: 2019/58

Series: IMF Working Papers

Author(s): Mariam El Hamiani Khatat , and Romain Veyrune

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2019

ISBN: 9781498302913

Keywords: Fixed exchange rate regime, price-specie flow mechanism, uncovered interest rate parity, offset coefficients, monetary operations, autonomous factors, money and foreign exchange markets

This paper introduces a theoretical framework for liquidity management under fixed exchange rate arrangement, derived from the price-specie flow mechanism of David Hume. The framework highlights that the risk of sh...

Chapter 1 China’s Bond Market: Characteristics, Prospects, and Reforms

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Chapter 1 China’s Bond Market: Characteristics, Prospects, and Reforms »

Source: Excerpt: The Future of China's Bond Market

Series: Miscellaneous Publication (Other)

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2019

ISBN: UTDEAEX

Keywords: Market interest rates, Open market operations, Bond markets, Credit default swap, Financial sector development, Exchange rate markets, bond market;people 's bank of China;people 's bank;SOEs;renminbi

In 2018, China marked the fortieth anniversary of “reform and opening up,” which launched a growth miracle that has put the country on a path—absent major shocks—to becoming the wor...

Excerpt: The Future of China's Bond Market

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Excerpt: The Future of China's Bond Market »

Series: Miscellaneous Publication (Other)

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2019

DOI: http://dx.doi.org/10.5089/UTDEAEX.073

ISBN: UTDEAEX

Keywords: Market interest rates, Open market operations, Bond markets, Credit default swap, Financial sector development, Exchange rate markets, bond market;people 's bank of China;people 's bank;SOEs;renminbi

China's bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country's bonds in global indexes will be a milestone for its financial market integration,...

Front Matter

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Front Matter »

Source: Excerpt: The Future of China's Bond Market

Series: Miscellaneous Publication (Other)

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2019

ISBN: UTDEAEX

Keywords: Market interest rates, Open market operations, Bond markets, Credit default swap, Financial sector development, Exchange rate markets, bond market;people 's bank of China;people 's bank;SOEs;renminbi

China's bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country's bonds in global indexes will be a milestone for its financial market integration,...

China's Evolving Exchange Rate Regime

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China's Evolving Exchange Rate Regime »

Volume/Issue: 2019/50

Series: IMF Working Papers

Author(s): Sonali Das

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2019

DOI: http://dx.doi.org/10.5089/9781498302029.001

ISBN: 9781498302029

Keywords: reminbi, exchange rate, foreign exchange market, liquidity

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquid...

China's Evolving Exchange Rate Regime

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China's Evolving Exchange Rate Regime »

Source: China's Evolving Exchange Rate Regime

Volume/Issue: 2019/50

Series: IMF Working Papers

Author(s): Sonali Das

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2019

ISBN: 9781498302029

Keywords: reminbi, exchange rate, foreign exchange market, liquidity

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquid...

How Effective is Macroprudential Policy? Evidence from Lending Restriction Measures in EU Countries

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How Effective is Macroprudential Policy? Evidence from Lending Restriction Measures in EU Countries »

Source: How Effective is Macroprudential Policy? Evidence from Lending Restriction Measures in EU Countries

Volume/Issue: 2019/45

Series: IMF Working Papers

Author(s): Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2019

ISBN: 9781498300872

Keywords: Monetary policy instruments, Exchange rate policy, Central banks, Monetary policy, Monetary expansion, macroprudential regulation, financial stability, credit, house price, Kleibl

This paper assesses the effectiveness of lending restriction measures, such as loan-to-value and debt-service-to-income ratios, in affecting developments in house prices and credit. We use data on 99 lending standa...