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6 A Framework for Financial Stability

6 A Framework for Financial Stability »

Source: Safeguarding Financial Stability : Theory and Practice

Series: Books

Author(s): Garry Schinasi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2005

ISBN: 9781589064409

Keywords: credit, financial system, otc, financial institutions

The framework developed in this chapter seeks to integrate the analytical and policy elements of financial stability, building on the characteristics of finance and the definition of financial stability deve...

After the Crisis

After the Crisis »

Source: After the Crisis : Lower Consumption Growth But Narrower Global Imbalances?

Volume/Issue: 2010/11

Series: IMF Working Papers

Author(s): Franziska Ohnsorge , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

ISBN: 9781451961966

Keywords: current account adjustment, consumption growth, disposable income, household wealth, income growth, private consumption,

We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary behavior in the face of uncertainty. We find that in the short run, continued income uncertaint...

Aggregate Uncertainty and the Supply of Credit

Aggregate Uncertainty and the Supply of Credit »

Source: Aggregate Uncertainty and the Supply of Credit

Volume/Issue: 2013/241

Series: IMF Working Papers

Author(s): Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2013

ISBN: 9781475513936

Keywords: Credit Cycles, Credit Crunch, Uncertainty, Self-insurance, real gdp, bank capital, gdp growth, bank capitalization, bank size, General

Recent studies show that uncertainty shocks have quantitatively important effects on the real economy. This paper examines one particular channel at work: the supply of credit. It presents a model in which a bank,...

Are they All in the Same Boat? the 2000-2001 Growth Slowdown and the G-7 Business Cycle Linkages

Are they All in the Same Boat? the 2000-2001 Growth Slowdown and the G-7 Business Cycle Linkages »

Source: Are they All in the Same Boat? the 2000-2001 Growth Slowdown and the G-7 Business Cycle Linkages

Volume/Issue: 2003/46

Series: IMF Working Papers

Author(s): Thomas Helbling , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451846577

Keywords: International Business Cycles, Dynamic Factor Models, business cycle, correlation, statistics, growth cycles, Open Economy Macroeconomics, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

This paper reviews the international business cycle among Group of Seven (G-7) countries since 1973 from two angles. An examination of business cycle synchronization among these countries using simple descriptive s...

Asset Pricing in the International Economy

Asset Pricing in the International Economy »

Source: Asset Pricing in the International Economy

Volume/Issue: 1993/15

Series: IMF Working Papers

Author(s): José Barrionuevo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1993

ISBN: 9781451843187

Keywords: consumption growth, real returns, per capita consumption, downward bias, consumption component

This paper presents a statistical and economic interpretation of the low and often economically implausible risk aversion estimates obtained for fixed income assets throughout the finance literature. For a statisti...

Can International Macroeconomic Models Explain Low-Frequency Movements of Real Exchange Rates?

Can International Macroeconomic Models Explain Low-Frequency Movements of Real Exchange Rates? »

Source: Can International Macroeconomic Models Explain Low-Frequency Movements of Real Exchange Rates?

Volume/Issue: 2012/13

Series: IMF Working Papers

Author(s): Pau Rabanal , and Juan Rubio-Ramirez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463931186

Keywords: International Business Cycles, Spectrum, Cointegration, tfp, intermediate goods, elasticity of substitution, business cycle, Can International Macroeconomic Models Explain Low-Frequency Movements of Real Exchange Rates?, International Monetary Arrangements and Institutions, Open Economy Macroeconomics,

Real exchange rates exhibit important low-frequency fluctuations. This makes the analysis of real exchange rates at all frequencies a more sound exercise than the typical business cycle one, which compares actual a...

8 Challenges Posed by the Globalization of Finance and Risk

8 Challenges Posed by the Globalization of Finance and Risk »

Source: Safeguarding Financial Stability : Theory and Practice

Series: Books

Author(s): Garry Schinasi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2005

ISBN: 9781589064409

Keywords: credit, financial system, otc, financial institutions

While it is reasonable to presume that the structural financial changes that occurred in international markets since the mid- to late 1970s have been beneficial overall, it would be complacent to ignore, and...

Concordance in Business Cycles

Concordance in Business Cycles »

Source: Concordance in Business Cycles

Volume/Issue: 2000/37

Series: IMF Working Papers

Author(s): C. McDermott , and Alasdair Scott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2000

ISBN: 9781451845563

Keywords: Concordance, phase, statistic, correlation, statistics, random walks, sample size

We study the properties of a test that determines whether two time series comove. The test computes a simple nonparametric statistic for “concordance,” which describes the proportion of time that the...

Debt and Growth: Is There a Magic Threshold?1

Debt and Growth: Is There a Magic Threshold?1 »

Source: Debt and Growth : Is There a Magic Threshold?

Volume/Issue: 2014/34

Series: IMF Working Papers

Author(s): Andrea Pescatori , Damiano Sandri , and John Simon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2014

ISBN: 9781484306444

Keywords: growth, gdp growth, debt thresholds, debt ratio, growth rate, General,

Using a novel empirical approach and an extensive dataset developed by the Fiscal Affairs Department of the IMF, we find no evidence of any particular debt threshold above which medium-term growth prospects are dra...

Deconstructing the International Business Cycle

Deconstructing the International Business Cycle »

Source: Deconstructing the International Business Cycle : Why does a U.S. sneeze give the rest of the world a cold?

Volume/Issue: 2010/239

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2010

ISBN: 9781455209392

Keywords: international business cycles, identification, structural VAR, business cycle, real gdp, correlation, standard errors, statistics, Multiple or Simultaneous Equation Models: Time-Series Models, International Factor Movements and International Business: General

The 2008 crisis underscored the interconnectedness of the international business cycle, with U.S. shocks leading to the largest global slowdown since the 1930s. We estimate spillover effects across major advanced c...