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Optimal Macroprudential Policy and Asset Price Bubbles

Optimal Macroprudential Policy and Asset Price Bubbles »

Volume/Issue: 2019/184

Series: IMF Working Papers

Author(s): Nina Biljanovska , Lucyna Gornicka , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

DOI: http://dx.doi.org/10.5089/9781513511078.001

ISBN: 9781513511078

Keywords: Economic conditions, Financial crises, Demand, Economic stabilization, Price indexes, Collateral constraints, rational bubbles, macroprudential regulation, optimal policy, WP

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytic...

Optimal Macroprudential Policy and Asset Price Bubbles

Optimal Macroprudential Policy and Asset Price Bubbles »

Source: Optimal Macroprudential Policy and Asset Price Bubbles

Volume/Issue: 2019/184

Series: IMF Working Papers

Author(s): Nina Biljanovska , Lucyna Gornicka , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513511078

Keywords: Economic conditions, Financial crises, Demand, Economic stabilization, Price indexes, Collateral constraints, rational bubbles, macroprudential regulation, optimal policy, WP

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytic...

Energy Subsidies and Public Social Spending

Energy Subsidies and Public Social Spending »

Source: Energy Subsidies and Public Social Spending : Theory and Evidence

Volume/Issue: 2015/101

Series: IMF Working Papers

Author(s): Christian Ebeke , and Constant Lonkeng Ngouana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 May 2015

ISBN: 9781475580747

Keywords: Energy subsidies, Public social spending, Causality, subsidy, tax, energy subsidy, Cross-Sectional Models, Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation, Causality.,

This paper shows that high energy subsidies and low public social spending can emerge as an equilibrium outcome of a political game between the elite and the middle-class when the provision of public goods is subje...

Energy Subsidies and Public Social Spending
			: Theory and Evidence

Energy Subsidies and Public Social Spending : Theory and Evidence »

Volume/Issue: 2015/101

Series: IMF Working Papers

Author(s): Christian Ebeke , and Constant Lonkeng Ngouana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 May 2015

DOI: http://dx.doi.org/10.5089/9781475580747.001

ISBN: 9781475580747

Keywords: Energy subsidies, Public social spending, Causality, subsidy, tax, energy subsidy, Cross-Sectional Models, Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation, Causality.,

This paper shows that high energy subsidies and low public social spending can emerge as an equilibrium outcome of a political game between the elite and the middle-class when the provision of public goods is subje...

Fiscal Decentralization and the Efficiency of Public Service Delivery

Fiscal Decentralization and the Efficiency of Public Service Delivery »

Source: Fiscal Decentralization and the Efficiency of Public Service Delivery

Volume/Issue: 2015/59

Series: IMF Working Papers

Author(s): Moussé Sow , and Ivohasina Razafimahefa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2015

ISBN: 9781484351116

Keywords: Decentralization, efficiency, stochastic frontier analysis, fiscal decentralization, public expenditure, expenditure, Methodological Issues: General, Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation, General, Intergovernmental Relations,

This paper explores the impact of fiscal decentralization on the efficiency of public service delivery. It uses a stochastic frontier method to estimate time-varying efficiency coefficients and analyzes the impact...

Fiscal Decentralization and the Efficiency of Public Service Delivery

Fiscal Decentralization and the Efficiency of Public Service Delivery »

Volume/Issue: 2015/59

Series: IMF Working Papers

Author(s): Moussé Sow , and Ivohasina Razafimahefa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2015

DOI: http://dx.doi.org/10.5089/9781484351116.001

ISBN: 9781484351116

Keywords: Decentralization, efficiency, stochastic frontier analysis, fiscal decentralization, public expenditure, expenditure, Methodological Issues: General, Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation, General, Intergovernmental Relations,

This paper explores the impact of fiscal decentralization on the efficiency of public service delivery. It uses a stochastic frontier method to estimate time-varying efficiency coefficients and analyzes the impact...

Measuring External Risks for Peru
			: Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy

Measuring External Risks for Peru : Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy »

Volume/Issue: 2014/161

Series: IMF Working Papers

Author(s): Fei Han

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2014

DOI: http://dx.doi.org/10.5089/9781498327220.001

ISBN: 9781498327220

Keywords: Macroeconomic Model, Partial Dollarization, External Risk, Macroeconomic Forecast, inflation, aggregate demand, monetary fund, Multiple or Simultaneous Equation Models: Instrumental Variables (IV) Estimation, Forecasting and Simulation, Monetary Policy (Targets

This paper quantifies the effects of external risks for Peru, with particular attention to two major external risks, China's investment slowdown and the U.S. monetary policy tightening. In particular, a macroeconom...

Measuring External Risks for Peru

Measuring External Risks for Peru »

Source: Measuring External Risks for Peru : Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy

Volume/Issue: 2014/161

Series: IMF Working Papers

Author(s): Fei Han

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2014

ISBN: 9781498327220

Keywords: Macroeconomic Model, Partial Dollarization, External Risk, Macroeconomic Forecast, inflation, aggregate demand, monetary fund, Multiple or Simultaneous Equation Models: Instrumental Variables (IV) Estimation, Forecasting and Simulation, Monetary Policy (Targets

This paper quantifies the effects of external risks for Peru, with particular attention to two major external risks, China's investment slowdown and the U.S. monetary policy tightening. In particular, a macroeconom...

Boosting Competitiveness to Grow Out of Debt

Boosting Competitiveness to Grow Out of Debt »

Source: Boosting Competitiveness to Grow Out of Debt : Can Ireland Find a Way Back to Its Future?

Volume/Issue: 2013/35

Series: IMF Working Papers

Author(s): Mwanza Nkusu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2013

ISBN: 9781475563658

Keywords: Simultaneous equation models, economywide country studies, reer, competitiveness, exports of goods, export growth, pre-crisis, Other, Economic Growth of Open Economies, General,

This paper investigates the prospects for Ireland to grow its economy against the backdrop of high indebtedness. The paper uses vector autoregressive analysis to explore the interlinkages among competitiveness, exp...

Boosting Competitiveness to Grow Out of Debt
			: Can Ireland Find a Way Back to Its Future?

Boosting Competitiveness to Grow Out of Debt : Can Ireland Find a Way Back to Its Future? »

Volume/Issue: 2013/35

Series: IMF Working Papers

Author(s): Mwanza Nkusu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2013

DOI: http://dx.doi.org/10.5089/9781475563658.001

ISBN: 9781475563658

Keywords: Simultaneous equation models, economywide country studies, reer, competitiveness, exports of goods, export growth, pre-crisis, Other, Economic Growth of Open Economies, General,

This paper investigates the prospects for Ireland to grow its economy against the backdrop of high indebtedness. The paper uses vector autoregressive analysis to explore the interlinkages among competitiveness, exp...