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The Art of Making Everybody Happy: How to Prevent a Secession

The Art of Making Everybody Happy: How to Prevent a Secession »

Source: IMF Staff Papers, Volume 50, No. 3

Volume: 50

Series: IMF Staff Papers

Author(s): Robert Flood

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2003

ISBN: 9781589062030

Keywords: unit root, real exchange rate, confidence intervals, confidence interval, serial correlation

This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased es...

“Big Bang” Versus Gradualism in Economic Reforms: An Intertemporal Analysis with an Application to China

“Big Bang” Versus Gradualism in Economic Reforms: An Intertemporal Analysis with an Application to China »

Source: IMF Staff Papers, Volume 50, No. 3

Volume: 50

Series: IMF Staff Papers

Author(s): Robert Flood

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2003

ISBN: 9781589062030

Keywords: unit root, real exchange rate, confidence intervals, confidence interval, serial correlation

This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased es...

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...

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis »

Source: The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

Volume/Issue: 2009/206

Series: IMF Working Papers

Author(s): Heiko Hesse , and Nathaniel Frank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873535

Keywords: Interbank markets, Markov-Switching, GARCH, money markets, central bank, money market, discount rates, interbank money markets, Financial Markets and the Macroeconomy, Instruments

This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in unsecured interbank markets during the first phase of the subprime crisis which began in July...

The High-Yield Spread as a Predictor of Real Economic Activity: Evidence of a Financial Accelerator for the United States

The High-Yield Spread as a Predictor of Real Economic Activity: Evidence of a Financial Accelerator for the United States »

Source: IMF Staff Papers, Volume 50, No. 3

Volume: 50

Series: IMF Staff Papers

Author(s): Robert Flood

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2003

ISBN: 9781589062030

Keywords: unit root, real exchange rate, confidence intervals, confidence interval, serial correlation

This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased es...

IMF Staff Papers, Volume 50, No. 3

IMF Staff Papers, Volume 50, No. 3 »

Volume: 50

Series: IMF Staff Papers

Author(s): Robert Flood

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2003

DOI: http://dx.doi.org/10.5089/9781589062030.024

ISBN: 9781589062030

Keywords: unit root, real exchange rate, confidence intervals, confidence interval, serial correlation

This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased es...

An Unbiased Appraisal of Purchasing Power Parity

An Unbiased Appraisal of Purchasing Power Parity »

Volume/Issue: 2001/196

Series: IMF Working Papers

Author(s): C. McDermott , and Paul Cashin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

DOI: http://dx.doi.org/10.5089/9781451859966.001

ISBN: 9781451859966

Keywords: Median-unbiased estimation, shock persistence, exchange rate, exchange rates, confidence intervals, confidence interval, real exchange rates,

Univariate studies of the hypothesis of unit roots in real exchange rates have yielded consensus point estimates of the half-life of deviations from purchasing power parity of between three to five years. However,...

Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies

Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies »

Volume/Issue: 2011/161

Series: IMF Working Papers

Author(s): Mwanza Nkusu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

DOI: http://dx.doi.org/10.5089/9781455297740.001

ISBN: 9781455297740

Keywords: macrofinancial linkages, nonperforming loans, business fluctuations, banking, macroeconomic performance, banking crises, macroeconomic variables, banks ? balance sheets, Financial Markets and the Macroeconomy,

We analyze the link between nonperforming loans (NPL) and macroeconomic performance using two complementary approaches. First, we investigate the macroeconomic determinants of NPL in panel regressions and confirm t...

Resolution of Banking Crises
			: The Good, the Bad, and the Ugly

Resolution of Banking Crises : The Good, the Bad, and the Ugly »

Volume/Issue: 2010/146

Series: IMF Working Papers

Author(s): Luc Laeven , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201297.001

ISBN: 9781455201297

Keywords: government intervention, macroeconomic policy, banking, recapitalization, banking crises, bank failures, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Macroeconomic Aspects of Public Finance

This paper presents a new database of systemic banking crises for the period 1970-2009. While there are many commonalities between recent and past crises, both in terms of underlying causes and policy responses, th...

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis »

Volume/Issue: 2009/206

Series: IMF Working Papers

Author(s): Heiko Hesse , and Nathaniel Frank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

DOI: http://dx.doi.org/10.5089/9781451873535.001

ISBN: 9781451873535

Keywords: Interbank markets, Markov-Switching, GARCH, money markets, central bank, money market, discount rates, interbank money markets, Financial Markets and the Macroeconomy, Instruments

This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in unsecured interbank markets during the first phase of the subprime crisis which began in July...