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The Accountability of Financial Sector Supervisors

The Accountability of Financial Sector Supervisors »

Source: The Accountability of Financial Sector Supervisors : Principles and Practice

Volume/Issue: 2005/51

Series: IMF Working Papers

Author(s): Michael Taylor , Marc Quintyn , and Eva Hüpkes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860702

Keywords: Financial regulation, regulatory agencies, public administration accountability, banking, financial system, financial services, financial sector, financial institutions, General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation

Policymakers' uneasiness about granting independence to financial sector regulators stems to a large extent from the lack of familiarity with, and elusiveness of, the concept of accountability. This paper gives ope...

Are All Summary Indicators of the Stance of Fiscal Policy Misleading?

Are All Summary Indicators of the Stance of Fiscal Policy Misleading? »

Source: Are All Summary Indicators of the Stance of Fiscal Policy Misleading?

Volume/Issue: 1988/112

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 December 1988

ISBN: 9781451944501

Keywords: fiscal policy, expenditure, fiscal impulse, expenditures, fiscal stance

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

Armington Elasticities in Intermediate Inputs Trade

Armington Elasticities in Intermediate Inputs Trade »

Source: Armington Elasticities in Intermediate Inputs Trade : A Problem in Using Multilateral Trade Data

Volume/Issue: 2004/22

Series: IMF Working Papers

Author(s): Mika Saito

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451921380

Keywords: The Armington Model, Intermediate Inputs Trade, Panel Data, trade data, intermediate inputs, equations, multilateral trade, equation,

This paper finds that the estimates of Armington elasticities (the elasticity of substitution between groups of products identified by country of origin) obtained from multilateral trade data can differ from those...

Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries*

Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries* »

Source: Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries

Volume/Issue: 2014/48

Series: IMF Working Papers

Author(s): Andrew Berg , Enrico Berkes , Catherine Pattillo , Andrea Presbitero , and Yorbol Yakhshilikov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2014

ISBN: 9781475579772

Keywords: DSF, Sovereign debt crises, debt thresholds, external debt, debt crises, International Monetary Arrangements and Institutions, International Lending and Debt Problems, Macroeconomic Analyses of Economic Development,

The World Bank and the IMF have adopted a debt sustainability framework (DSF) to evaluate the risk of debt distress in Low Income Countries (LICs). At the core of the DSF are empirically-based thresholds for each o...

Bank Capital

Bank Capital »

Source: Bank Capital : Lessons From the Financial Crisis

Volume/Issue: 2010/286

Series: IMF Working Papers

Author(s): Ouarda Merrouche , Enrica Detragiache , and Asli Demirgüç-Kunt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

ISBN: 9781455210930

Keywords: Basel capital accord, stock returns, stock market, bank stock, tier 2 capital, Financial Institutions and Services: Government Policy and Regulation,

Using a multi-country panel of banks, we study whether better capitalized banks experienced higher stock returns during the financial crisis. We differentiate among various types of capital ratios: the Basel risk-a...

Banking and Trading

Banking and Trading »

Source: Banking and Trading

Volume/Issue: 2012/238

Series: IMF Working Papers

Author(s): Arnoud Boot , and Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2012

ISBN: 9781475511215

Keywords: Bank regulation, proprietary trading, relationship banking, Volcker rule, moral hazard, financial markets, bank profits, bank profitability, Government Policy and Regulation,

We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Tr...

A Barrel of Oil or a Bottle of Wine

A Barrel of Oil or a Bottle of Wine »

Source: A Barrel of Oil or a Bottle of Wine : How Do Global Growth Dynamics Affect Commodity Prices?

Volume/Issue: 2011/1

Series: IMF Working Papers

Author(s): Tahsin Saadi Sedik , and Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2011

ISBN: 9781455211791

Keywords: Wine, Comovement, Global growth, Emerging economies, crude oil, oil demand, Nonrenewable Resources and Conservation: Other, Energy: Demand and Supply, Energy and the Macroeconomy,

This paper investigates the causes of extreme fluctuations in commodity prices from 1990 to 2010. Analyzing two very distinct commodities-crude oil and fine wine, we find that macroeconomic factors are the main det...

The Behavior of Nontradable Goods Prices in Europe

The Behavior of Nontradable Goods Prices in Europe »

Source: The Behavior of Nontradable Goods Prices in Europe : Evidence and Interpretation

Volume/Issue: 1993/45

Series: IMF Working Papers

Author(s): Jose De Gregorio , Thomas Krueger , and Alberto Giovannini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1993

ISBN: 9781451974263

Keywords: exchange rate, nontradable goods, real exchange rate, tradable goods, exchange rates

This paper examines the evolution of the relative price between tradable and nontradable goods in a group of European countries. A model of an open economy is used to analyze different factors that can account for...

Budget Institutions in Low-Income Countries

Budget Institutions in Low-Income Countries »

Source: Budget Institutions in Low-Income Countries : Lessons from G-20

Volume/Issue: 2014/164

Series: IMF Working Papers

Author(s): Sanjeev Gupta , and Sami Yläoutinen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 September 2014

ISBN: 9781498329439

Keywords: Budget Institutions, Budget Reforms, fiscal strategy, fiscal outlook, fiscal objectives, fiscal reporting, General,

This paper presents twelve budget institutions that can support planning and delivery of credible fiscal strategies in the fiscal policy-making process. The resulting framework is applied to seven low-income count...

Budget Processes and Commitment to Fiscal Discipline

Budget Processes and Commitment to Fiscal Discipline »

Source: Budget Processes and Commitment to Fiscal Discipline

Volume/Issue: 1996/78

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1996

ISBN: 9781451850079

Keywords: budget process, fiscal discipline, fiscal performance, budget law, budget act

This paper develops a political-economy model of the budget process focusing on the common pool problem of the public budget. We show that the externality arising from the fact that public spending tends to be targ...