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Multi-Country Report
			: Ensuring Financial Stability in Countries with Islamic Banking-Case Studies-Press Release; Staff Report

Multi-Country Report : Ensuring Financial Stability in Countries with Islamic Banking-Case Studies-Press Release; Staff Report »

Volume/Issue: 2017/145

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 June 2017

DOI: http://dx.doi.org/10.5089/9781484302996.002

ISBN: 9781484302996

Keywords: Asia and Pacific, Bahrain, Djibouti, Europe, Indonesia, Kenya, Kuwait, Malaysia, Middle East, Nigeria

This paper presents country experiences with reforms to strengthen regulatory oversight of the Islamic banking sector. Based on the selected country experiences, a number of important lessons and policy options can...

Bank Solvency and Funding Cost

Bank Solvency and Funding Cost »

Volume/Issue: 2016/64

Series: IMF Working Papers

Author(s): Christoph Aymanns , Carlos Caceres , Christina Daniel , and Liliana Schumacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2016

DOI: http://dx.doi.org/10.5089/9781513591131.001

ISBN: 9781513591131

Keywords: Solvency, funding cost, bank fundamentals, bank, banks, interest, capital, risk, General, All Countries,

Understanding the interaction between bank solvency and funding cost is a crucial pre-requisite for stress-testing. In this paper we study the sensitivity of bank funding cost to solvency measures while controlling...

The Challenge of Public Pension Reform in Advanced and Emerging Economies

The Challenge of Public Pension Reform in Advanced and Emerging Economies »

Series: Occasional Papers

Author(s): Benedict Clements , David Coady , Frank Eich , Sanjeev Gupta , Alvar Kangur , Baoping Shang , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 January 2016

Language: Chinese

DOI: http://dx.doi.org/10.5089/9787504979971.084

ISBN: 9787504979971

Keywords: Pension reforms, Developed countries, Emerging markets, Pensions, Government expenditures, Cross country analysis, emerging market economies, retirement, pensions, pension spending

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population...

Government Spending Effects in Low-income Countries

Government Spending Effects in Low-income Countries »

Volume/Issue: 2015/286

Series: IMF Working Papers

Author(s): Wenyi Shen , Susan Yang , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2015

DOI: http://dx.doi.org/10.5089/9781513578972.001

ISBN: 9781513578972

Keywords: Fiscal Policy, Low-income Countries, Public Investment, Fiscal Multipliers, Small Open DSGE Models, Aid, investment, government spending, exchange rate, exchange

Despite the voluminous literature on fiscal policy, very few papers focus on low-income countries (LICs). This paper develops a new-Keynesian small open economy model to show, analytically and through simulations,...

What Really Drives Public Debt
			: A Holistic Approach

What Really Drives Public Debt : A Holistic Approach »

Volume/Issue: 2015/137

Series: IMF Working Papers

Author(s): Pablo Anaya , and Alex Pienkowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 June 2015

DOI: http://dx.doi.org/10.5089/9781513591353.001

ISBN: 9781513591353

Keywords: debt, interest, interest rate, General, Monetary Policy (Targets, Instruments, and Effects),

This paper presents a novel approach to detail the propagation of shocks to public debt. The modeling technique involves a structural vector auto-regression (SVAR) estimator with an endogenous debt accumulation equ...

When Should Public Debt Be Reduced?

When Should Public Debt Be Reduced? »

Volume/Issue: 2015/10

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , Atish Ghosh , and Raphael Espinoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2015

DOI: http://dx.doi.org/10.5089/9781498379205.006

ISBN: 9781498379205

Keywords: Economic growth, Public investment, Public debt, debt, investment, financial crisis, Forecasts of Budgets, Deficits, and Debt,

What considerations should guide public debt policy going forward? Should debt be reduced to achieve normative anchors (such as 60 percent of GDP), should it be increased further to finance a big public investment...

A Network Analysis of Sectoral Accounts
			: Identifying Sectoral Interlinkages in G-4 Economies

A Network Analysis of Sectoral Accounts : Identifying Sectoral Interlinkages in G-4 Economies »

Volume/Issue: 2015/111

Series: IMF Working Papers

Author(s): Luiza Antoun de Almeida

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 May 2015

DOI: http://dx.doi.org/10.5089/9781513523101.001

ISBN: 9781513523101

Keywords: Balance sheet exposures, cross-border exposures, Data Gaps Initiative (DGI), financial networks, sectoral accounts, debt, financial crisis, Financial Aspects of Economic Integration, Financial Markets and the Macroeconomy, Government Policy and Regulation,

The recent financial crisis highlighted that balance sheet exposures can be a major shock transmission channel. Using sectoral accounts data in combination with data from the Coordinated Portfolio Investment Survey...

How Delaying Fiscal Consolidation Affects the Present Value of GDP

How Delaying Fiscal Consolidation Affects the Present Value of GDP »

Volume/Issue: 2015/52

Series: IMF Working Papers

Author(s): Kevin Fletcher , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 March 2015

DOI: http://dx.doi.org/10.5089/9781498393577.001

ISBN: 9781498393577

Keywords: hysteresis, fiscal multipliers, gdp, multipliers, debt, interest, interest rate,

We develop a simple model to examine the conditions under which delaying fiscal consolidation can affect the present value of GDP via the fiscal stance's effects on the output gap and hysteresis. We find that the a...

Central Counterparties
			: Addressing their Too Important to Fail Nature

Central Counterparties : Addressing their Too Important to Fail Nature »

Volume/Issue: 2015/21

Series: IMF Working Papers

Author(s): Froukelien Wendt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2015

DOI: http://dx.doi.org/10.5089/9781475572933.001

ISBN: 9781475572933

Keywords: central counterparties, interdependencies, too important to fail, recovery and resolution, risk waterfall, markets, market, default, liquidity, Government Policy and Regulation

Central counterparties (CCPs) can offer significant benefits to a market. However, CCPs are also highly interconnected with financial institutions and markets and therefore too important to fail. The increased volu...

Market Signals and the Cost of Credit Risk Protection
			: An Analysis of CDS Settlement Auctions

Market Signals and the Cost of Credit Risk Protection : An Analysis of CDS Settlement Auctions »

Volume/Issue: 2014/239

Series: IMF Working Papers

Author(s): Luisa Zanforlin , and Nobuyuki Kanazawa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 December 2014

DOI: http://dx.doi.org/10.5089/9781498389471.001

ISBN: 9781498389471

Keywords: Credit Default Swaps, Market signals, Derivative Markets, cds, default, market, default probabilities, General, Derivative Markets.,

We study the link between the probability of default implied by Credit Default Swaps (CDS) spreads and the final prices of the defaulted bonds as established at the CDS settlement auctions. We observe that the post...