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Addressing Interconnectedness

Addressing Interconnectedness »

Source: Addressing Interconnectedness : Concepts and Prudential Tools

Volume/Issue: 2013/199

Series: IMF Working Papers

Author(s): Nicolas Arregui , Mohamed Norat , Antonio Pancorbo , Jodi Scarlata , Eija Holttinen , Fabiana Melo , Jay Surti , Christopher Wilson , Rodolfo Wehrhahn , and Mamoru Yanase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 2013

ISBN: 9781475531855

Keywords: network analysis, prudential tools, policymakers, systemic risk, banking, banking system, banking sector, bank reporting, interbank market, General

This paper reviews tools used to identify and measure interconnectedness and raises the awareness of policymakers as to potential cross-sectional implications of prudential tools aimed at controlling interconnected...

Assessing Fiscal Sustainability in Theory and Practice1

Assessing Fiscal Sustainability in Theory and Practice1 »

Source: Assessing Fiscal Sustainability in Theory and Practice

Volume/Issue: 2000/81

Series: IMF Working Papers

Author(s): Nigel Chalk , and Richard Hemming

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2000

ISBN: 9781451850352

Keywords: Government deficits and debt, present value budget constraint, sustainability indicators, fiscal sustainability, debt ratio, budget constraint, primary deficit

The main purpose of this paper is to provide an overview of approaches to assessing fiscal sustainability. It summarizes the general analytical background, focusing on the present value budget constraint, which is...

Banks and Labor as Stakeholders

Banks and Labor as Stakeholders »

Source: Banks and Labor as Stakeholders : Impact on Economic Performance

Volume/Issue: 2008/229

Series: IMF Working Papers

Author(s): Kenichi Ueda , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870879

Keywords: stakeholders, shareholders&;amp;#x2019; maximization, financial liberalization, employment protection, employment, shareholders,

Traditionally, the impacts of the rights of financial institutions and workers on corporate performance have been analyzed independently. Yet, theory clearly indicates that the combination of relative powers of dif...

Budget Deficits and Interest Rates

Budget Deficits and Interest Rates »

Source: Budget Deficits and Interest Rates : A Fresh Perspective

Volume/Issue: 2008/42

Series: IMF Working Papers

Author(s): Ari Aisen , and David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

ISBN: 9781451869040

Keywords: system GMM, inflation, budget deficit, money supply,

We extend the literature on budget deficits and interest rates in three ways: we examine both advanced and emerging economies and for the first time a large emerging market panel; explore interactions to explain so...

Causes of Asset Shortages in Emerging Markets

Causes of Asset Shortages in Emerging Markets »

Source: Causes of Asset Shortages in Emerging Markets

Volume/Issue: 2011/114

Series: IMF Working Papers

Author(s): Jiaqian Chen , and Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262373

Keywords: Asset Shortage, Emerging Market, Capital Market, Regulation, financial assets, interest rates, capital markets, capital account, pension funds, Money and Interest Rates: General

We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We de...

Central Bank Independence and Transparency

Central Bank Independence and Transparency »

Source: Central Bank Independence and Transparency : Evolution and Effectiveness

Volume/Issue: 2008/119

Series: IMF Working Papers

Author(s): Christopher Crowe , and Ellen Meade

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

ISBN: 9781451869798

Keywords: inflation, central bank, inflation targeting, monetary fund

This paper examines the current level of central bank independence (CBI) and transparency in a broad sample of countries using newly constructed measures, and looks at the evolution in both measures from an earlier...

Central Counterparties

Central Counterparties »

Source: 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

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...

The Challenge of Enforcement in Securities Markets

The Challenge of Enforcement in Securities Markets »

Source: The Challenge of Enforcement in Securities Markets : Mission Impossible?

Volume/Issue: 2009/168

Series: IMF Working Papers

Author(s): Ana Carvajal , and Jennifer Elliott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

ISBN: 9781451873153

Keywords: court, securities regulation, court order, securities regulators, courts, Enforcement,

Weaknesses in the enforcement of regulation have been targeted by the G-20 as a priority concern for reform. But enforcement efforts in securities markets have proven difficult and uneven. The recent scandal in the...

Competition in the Financial Sector

Competition in the Financial Sector »

Source: Competition in the Financial Sector : Overview of Competition Policies

Volume/Issue: 2009/45

Series: IMF Working Papers

Author(s): Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451871937

Keywords: competition policy, contestability, stability, degree of competition, General Financial Markets: General (includes Measurement and Data), General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation, Market Structure, Firm Strategy, And Market Performance

As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests, however, that unfettered competition is not first best given the special features of finance....

Contingent Liabilities from Banks

Contingent Liabilities from Banks »

Source: Contingent Liabilities from Banks : How to Track Them?

Volume/Issue: 2015/255

Series: IMF Working Papers

Author(s): Serkan Arslanalp , and Yin Liao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

ISBN: 9781513568560

Keywords: bank, banks, banking, risk, Government Policy and Regulation, All Countries,

In this paper, we develop a methodology to assess potential losses to the government that could arise from bank failures. The approach is intended to be simple, parsimonious, and used in real time. It generates an...