Browse

You are looking at 1 - 3 of 3 items for :

  • Economic integration x
  • Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure x
Clear All
International Monetary Fund. Research Dept.
This issue of the IMF Research Bulletin opens with a letter from the new editor, Rabah Arezki. The Research Summaries are a "Primer on 'Global Liquidity'" (Eugenio Cerutti, Stijn Claessens, and Lev Ratnovski); and "Trade Integration adn Business Cycle Synchronization" (Kevin Cheng, Romain Duval, and Dulani Senevirante). The Q&A column looks at "Seven Questions on the Global Housing Markets" (Hites Ahir, Heedon Kang, and Prakash Loungani). September 2014 issue of the Bulletin also includes updates on IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore, as well as special announcements on new staff publications and the Fifteenth Annual Jacques Polak Research Conference. Also included is information on the latest issue of “IMF Economic Review” with a link to an article by Paul Krugman.
Mr. Carlo Cottarelli and Mr. Julio Escolano
This paper provides a framework for evaluating the decision to enter a currency area, including the best timing for entry, and uses it to evaluate the assessment of the five tests for euro entry published by the U.K. Treasury in June 2003. The breadth and depth of its assessment is impressive by any standard. Nonetheless, this paper points at some areas that deserve to be explored further in future assessments. Covering these areas would not necessarily have changed the assessment's conclusion, namely that the case for entry is not yet "clear and unambiguous,." but it would have strengthened any conclusion reached. In addition, the paper highlights that in several areas relevant to the entry decision, the margin for uncertainty will remain significant, regardless of any reasonable attempt to reduce it.
International Monetary Fund

This Selected Issues paper of the United Kingdom analyzes the official projections of public pension spending and risks, as well as the strategy to increase private pension provision. It provides a comparison of stylized facts regarding business cycle developments in the three economies, and an analysis of how these cyclical differences reflect the way monetary policy changes impact the three economies. It analyzes the policy on Economic and Monetary Union membership; and also the interest rate changes in the United Kingdom and the United States compared with that in the euro area.