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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...

Determinants of Financial Market Spillovers

Determinants of Financial Market Spillovers »

Source: Determinants of Financial Market Spillovers : The Role of Portfolio Diversification, Trade, Home Bias, and Concentration

Volume/Issue: 2014/187

Series: IMF Working Papers

Author(s): Yoko Shinagawa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2014

ISBN: 9781498365628

Keywords: Financial Spillover, Coordinated Portfolio Investment Survey (CPIS), Home Bias, portfolio investment, financial market, bond, bond markets, International Policy Coordination and Transmission, Portfolio Choice,

This paper defines financial market spillovers as the comovement between two countries' financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio...

Fiscal Space1

Fiscal Space1 »

Source: Fiscal Space

Volume/Issue: 2010/11

Series: IMF Staff Position Notes

Author(s): Jonathan Ostry , Atish Ghosh , Jun Kim , and Mahvash Qureshi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

ISBN: 9781455228010

Keywords: Developed countries, Debt management, Public debt, Fiscal sustainability, Fiscal policy, fiscal sustainability, debt dynamics, debt, interest, primary balance

In this note, the authors reexamine the issue of debt sustainability in a large group of advanced economies. Their hypothesis is that, when debt is in a moderate range, its dynamics are sustainable in the sense tha...

Fiscal Space

Fiscal Space »

Volume/Issue: 2010/11

Series: IMF Staff Position Notes

Author(s): Jonathan Ostry , Atish Ghosh , Jun Kim , and Mahvash Qureshi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

DOI: http://dx.doi.org/10.5089/9781455228010.004

ISBN: 9781455228010

Keywords: Developed countries, Debt management, Public debt, Fiscal sustainability, Fiscal policy, fiscal sustainability, debt dynamics, debt, interest, primary balance

In this note, the authors reexamine the issue of debt sustainability in a large group of advanced economies. Their hypothesis is that, when debt is in a moderate range, its dynamics are sustainable in the sense tha...

Determinants of Financial Market Spillovers
			: The Role of Portfolio Diversification, Trade, Home Bias, and Concentration

Determinants of Financial Market Spillovers : The Role of Portfolio Diversification, Trade, Home Bias, and Concentration »

Volume/Issue: 2014/187

Series: IMF Working Papers

Author(s): Yoko Shinagawa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2014

DOI: http://dx.doi.org/10.5089/9781498365628.001

ISBN: 9781498365628

Keywords: Financial Spillover, Coordinated Portfolio Investment Survey (CPIS), Home Bias, portfolio investment, financial market, bond, bond markets, International Policy Coordination and Transmission, Portfolio Choice,

This paper defines financial market spillovers as the comovement between two countries' financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio...

Optimal and Sustainable Exchange Rate Regimes
			: A Simple Game-Theoretic Approach

Optimal and Sustainable Exchange Rate Regimes : A Simple Game-Theoretic Approach »

Volume/Issue: 1992/100

Series: IMF Working Papers

Author(s): Masahiro Kawai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1992

DOI: http://dx.doi.org/10.5089/9781451852325.001

ISBN: 9781451852325

Keywords: exchange rate, exchange rate regime, inflation, money supply

This paper examines the question of how to design an optimal and sustainable exchange rate regime in a world economy of two interdependent countries. It develops a Barro-Gordon type two-country model and compares n...

Quantity Controls, License Transferability, and the Level of Investment

Quantity Controls, License Transferability, and the Level of Investment »

Volume/Issue: 2001/206

Series: IMF Working Papers

Author(s): Ling Tan , Kala Krishna , and Ram Ranjan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

DOI: http://dx.doi.org/10.5089/9781451874600.001

ISBN: 9781451874600

Keywords: licensing, transferability, tradable quotas, entry, equation, equations, competitive industry, unit of capital, factor demand, Firm Behavior

This paper models investment/entry decisions in a competitive industry that is subject to a quantity control on an input for production. The quantity control is implemented by auctioning licenses for the restricted...

Spillovers of Domestic Shocks
			: Will They Counteract the 'Great Moderation'?

Spillovers of Domestic Shocks : Will They Counteract the 'Great Moderation'? »

Volume/Issue: 2010/78

Series: IMF Working Papers

Author(s): Ashoka Mody , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

DOI: http://dx.doi.org/10.5089/9781451982213.001

ISBN: 9781451982213

Keywords: Output growth volatility, vertical specialization, output growth, domestic shocks, global trade,

Even prior to the extreme volatility just observed, output growth volatility-following protracted decline-was flattening or mildly rising in some countries. More widespread was an increasing tendency from the mid-1...

Too Much Finance?

Too Much Finance? »

Volume/Issue: 2012/161

Series: IMF Working Papers

Author(s): Enrico Berkes , Ugo Panizza , and Jean-Louis Arcand

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504668.001

ISBN: 9781475504668

Keywords: Financial development, Finance-growth nexus, gdp growth, correlation, gdp per capita, standard errors

This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too muc...

Optimal and Sustainable Exchange Rate Regimes

Optimal and Sustainable Exchange Rate Regimes »

Source: Optimal and Sustainable Exchange Rate Regimes : A Simple Game-Theoretic Approach

Volume/Issue: 1992/100

Series: IMF Working Papers

Author(s): Masahiro Kawai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1992

ISBN: 9781451852325

Keywords: exchange rate, exchange rate regime, inflation, money supply

This paper examines the question of how to design an optimal and sustainable exchange rate regime in a world economy of two interdependent countries. It develops a Barro-Gordon type two-country model and compares n...