Browse

You are looking at 1 - 10 of 220 items :

  • International Relations - Trade and Tariffs x
  • Economics - Macroeconomics x
  • IMF Working Papers x
Clear All
The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model »

Source: The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

Volume/Issue: 2019/124

Series: IMF Working Papers

Author(s): Lisandro Abrego , Maria Alejandra Amado , Tunc Gursoy , Garth Nicholls , and Hector Perez-Saiz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2019

ISBN: 9781498314398

Keywords: Economic integration, Open economies, International trade agreements, Trade finance, Comparative advantage, AfCFTA, welfare, general equilibrium, trade barriers, welfare gain

In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and s...

Anatomy of Sudden Yen Appreciations

Anatomy of Sudden Yen Appreciations »

Source: Anatomy of Sudden Yen Appreciations

Volume/Issue: 2019/136

Series: IMF Working Papers

Author(s): Fei Han , and Niklas Westelius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2019

ISBN: 9781498317344

Keywords: Interest rate differential, Interest rate increases, International financial markets, Interest rates, Exchange rate policy, Carry trade, safe haven effects, exchange rate appreciations, Japan, VIX

The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and upward pressure...

An Assessment of Global Formula Apportionment

An Assessment of Global Formula Apportionment »

Source: An Assessment of Global Formula Apportionment

Volume/Issue: 2019/213

Series: IMF Working Papers

Author(s): Ruud A. Mooij , Li Liu , and Dinar Prihardini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 2019

ISBN: 9781513516257

Keywords: Indicators of economic activity, Tax revenue, Tax competition, Tax bases, Tax rates, International corporate taxation, Multinationals, Formula apportionment., WP, MNEs

Formula apportionment as a way to attribute taxable profits of multinationals across jurisdictions is receiving increased attention. This paper reviews existing literature and discusses experiences in selective fed...

Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks?

Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks? »

Source: Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks?

Volume/Issue: 2019/99

Series: IMF Working Papers

Author(s): Andre Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 May 2019

ISBN: 9781498312080

Keywords: Financial soundness indicators, Bank capital, Financial crises, Credit, Interest rates, Asset managers, contingent convertibles, asset pricing, nonperforming loans, AMs

This paper analyzes the capital structure of private asset managers in which the acquisition of nonperforming loans (NPLs) is funded with Contingent Convertibles (CoCos) placed with investors. The paper develops a...

Capital Flows at Risk: Taming the Ebbs and Flows

Capital Flows at Risk: Taming the Ebbs and Flows »

Source: Capital Flows at Risk: Taming the Ebbs and Flows

Volume/Issue: 2019/279

Series: IMF Working Papers

Author(s): R. Gelos , Lucyna Gornicka , Robin Koepke , Ratna Sahay , and Silvia Sgherri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2019

ISBN: 9781513522906

Keywords: Economic conditions, Exchange markets, Financial crises, Foreign exchange operations, Capital inflows, Capital flows, macroprudential policies, foreign-exchange intervention, capital controls, emerging markets

The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks a...

The Caribbean and its Linkages with the World: A GVAR Model Approach1

The Caribbean and its Linkages with the World: A GVAR Model Approach1 »

Source: The Caribbean and its Linkages with the World: A GVAR Model Approach

Volume/Issue: 2019/256

Series: IMF Working Papers

Author(s): Mauricio Vargas , and Daniela Hess

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 November 2019

ISBN: 9781498326766

Keywords: Economic conditions, Supply and demand, Oil prices, Economic growth, International monetary system, Caribbean countries, Global VAR, financial spillovers, trade., WP

Using data from 1980-2017, this paper estimates a Global VAR (GVAR) model taylored for the Caribbean region which includes its major trading partners, representing altogether around 60 percent of the global economy...

China's Evolving Exchange Rate Regime1

China's Evolving Exchange Rate Regime1 »

Source: China's Evolving Exchange Rate Regime

Volume/Issue: 2019/50

Series: IMF Working Papers

Author(s): Sonali Das

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2019

ISBN: 9781498302029

Keywords: Exchange markets, Real effective exchange rates, Central banks, Exchange rate policy, Nominal effective exchange rate, reminbi, exchange rate, foreign exchange market, liquidity, RMB

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquid...

China's Rebalancing: Recent Progress, Prospects and Policies

China's Rebalancing: Recent Progress, Prospects and Policies »

Source: China's Rebalancing: Recent Progress, Prospects and Policies

Volume/Issue: 2018/243

Series: IMF Working Papers

Author(s): Rui Mano , and Jiayi Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2018

ISBN: 9781484380673

Keywords: Real sector, Producer prices, Economic status, Financial crises, Social safety nets, China, rebalancing, macro-policy framework, policy coordination, rebalance

While China's growth gathered momentum in 2017, rebalancing was uneven and decelerated along many dimensions reflecting the temporary factors behind the growth pickup. Going forward, rebalancing is expected to proc...

Completing the Market: Generating Shadow CDS Spreads by Machine Learning

Completing the Market: Generating Shadow CDS Spreads by Machine Learning »

Source: Completing the Market: Generating Shadow CDS Spreads by Machine Learning

Volume/Issue: 2019/292

Series: IMF Working Papers

Author(s): Nan Hu , Jian Li , and Alexis Meyer-Cirkel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

ISBN: 9781513524085

Keywords: Financial crises, Economic conditions, Financial markets, Financial systems, Credit risk, Credit default swaps, Prediction, Machine Learning methods, WP, CDS

We compared the predictive performance of a series of machine learning and traditional methods for monthly CDS spreads, using firms' accounting-based, market-based and macroeconomics variables for a time period of...

Credit Cycle and Capital Buffers in Central America, Panama, and the Dominican Republic

Credit Cycle and Capital Buffers in Central America, Panama, and the Dominican Republic »

Source: Credit Cycle and Capital Buffers in Central America, Panama, and the Dominican Republic

Volume/Issue: 2019/39

Series: IMF Working Papers

Author(s): Valentina Flamini , Pierluigi Bologna , Fabio Di Vittorio , and Rasool Zandvakil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 February 2019

ISBN: 9781484397992

Keywords: Exchange rate policy, Credit booms, Central banks, Credit pricing, Credit risk, Credit cycle;Financial crises;Countercyclical capital buffer;Basel III;CPI inflation;GFC;countercyclical;synchronicity

Credit is key to support healthy and sustainable economic growth but excess aggregate credit growth can signal the build-up of imbalances and lead to systemic financial crisis. Hence, monitoring the credit cycle is...