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Regional Economic Outlook, October 2018, Europe
			: Domestic Expansion Running into External Turbulence

Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

DOI: http://dx.doi.org/10.5089/9781484375402.086

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment and wages, remains the main engin...

Austria
			: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria

Austria : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria »

Volume/Issue: 2018/272

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 September 2018

DOI: http://dx.doi.org/10.5089/9781484375846.002

ISBN: 9781484375846

Keywords: Article IV consultation reports, Fiscal policy, Fiscal reforms, Unemployment, Fiscal sustainability, Macroprudential policies and financial stability, Economic indicators, Debt sustainability analysis, Press releases, Staff Reports

Living standards in Austria are high, and income inequality and poverty low. The economy has picked up markedly, accelerating to 3 percent in 2017, and 3.1 percent (y/y) in 2018: Q1. This provides an opportunity to...

Austria
			: Fiscal Transparency Evaluation

Austria : Fiscal Transparency Evaluation »

Volume/Issue: 2018/193

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 June 2018

DOI: http://dx.doi.org/10.5089/9781484363812.002

ISBN: 9781484363812

Keywords: Austria, Europe

This paper evaluates the state of fiscal transparency in Austria. Austria has built strong fiscal institutions over the past decade, notably through the budget reforms introduced in 2009 and 2013, which have signif...

Revisiting the Economic Case for Fiscal Union in the Euro Area

Revisiting the Economic Case for Fiscal Union in the Euro Area »

Volume/Issue: 2018/3

Series: Departmental Papers / Policy Papers

Author(s): Helge Berger , Giovanni Dell'Ariccia , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2018

DOI: http://dx.doi.org/10.5089/9781484340424.087

ISBN: 9781484340424

Keywords: Sweden, Switzerland, United Kingdom, Monetary unions, Spain, Italy, Fiscal policy, France, Germany, Greece

The paper makes an analytical contribution to the revived discussion about the euro area's institutional setup. After significant progress during the euro crisis, the drive to complete Europe's Economic and Monetar...

Austria
			: 2016 Article IV Consultation-Press Release; and Staff Report for Austria

Austria : 2016 Article IV Consultation-Press Release; and Staff Report for Austria »

Volume/Issue: 2017/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 February 2017

DOI: http://dx.doi.org/10.5089/9781475573169.002

ISBN: 9781475573169

Keywords: Austria, Europe

This 2016 Article IV Consultation highlights that the economic recovery in Austria has strengthened in 2016. GDP growth in 2016 is estimated at 1.4 percent, an improvement over the average growth of 0.6 percent in...

Austria
			: Austria: Selected Issues

Austria : Austria: Selected Issues »

Volume/Issue: 2017/27

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 February 2017

DOI: http://dx.doi.org/10.5089/9781475573176.002

ISBN: 9781475573176

Keywords: Europe, Austria

This Selected Issues paper discusses structural and fiscal reforms in Austria that could increase potential output. Structural measures focused on further liberalization of professional services, and lowering of th...

Austria

Austria »

Volume/Issue: 2016/50

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2016

DOI: http://dx.doi.org/10.5089/9781498327961.002

ISBN: 9781498327961

Keywords: banks, bank, capital, debt, labor, Europe, Austria

The 2015 Article IV Consultation discusses the key issues related to the economy of Austria. Austria has recovered from the global financial crisis, but the crisis still remains in bank and public sector balance sh...

Austria

Austria »

Volume/Issue: 2016/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2016

DOI: http://dx.doi.org/10.5089/9781498328210.002

ISBN: 9781498328210

Keywords: health, tax, expenditure, risks, monetary fund, Austria, Europe

This paper reviews two main issues pertaining to Austrian economy: (1) Austria's long-term fiscal sustainability in light of current tax and expenditure trends, and (2) Austria's macroeconomic challenges and opport...

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...

Supervisory Roles in Loan Loss Provisioning in Countries Implementing IFRS

Supervisory Roles in Loan Loss Provisioning in Countries Implementing IFRS »

Volume/Issue: 2014/170

Series: IMF Working Papers

Author(s): Ellen Gaston , and In Song

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 November 2015

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781513590479.001

ISBN: 9781513590479

Keywords: Supervisory role, loan loss provisioning, IFRS implementation, banking, capital adequacy, banking supervision, bank for international settlements, bank supervisors, General, Government Policy and Regulation

Countries implementing International Financial Reporting Standards (IFRS) for loan loss provisioning by banks have been guided by two different approaches: International Accounting Standards (IAS) 39 and Basel stan...

Is There a Debt-threshold Effect on Output Growth?

Is There a Debt-threshold Effect on Output Growth? »

Volume/Issue: 2015/197

Series: IMF Working Papers

Author(s): Alexander Chudik , Kamiar Mohaddes , M. Pesaran , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 2015

DOI: http://dx.doi.org/10.5089/9781513513355.001

ISBN: 9781513513355

Keywords: Panel tests of threshold effects, long-run relationships, estimation and inference, large dynamic heterogeneous panels, cross-section dependence, and inflation, variables, gdp, cd, inflation

This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness. Our contribution is both theoretical and e...

Trends in Fiscal Transparency
			: Evidence from a New Database of the Coverage of Fiscal Reporting

Trends in Fiscal Transparency : Evidence from a New Database of the Coverage of Fiscal Reporting »

Volume/Issue: 2015/188

Series: IMF Working Papers

Author(s): Rachel Wang , Timothy Irwin , and Lewis Murara

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 August 2015

DOI: http://dx.doi.org/10.5089/9781513523965.001

ISBN: 9781513523965

Keywords: transparency, government finance, central government, General,

Although there are several measures of fiscal transparency, none provides satisfactory information on certain issues of macroeconomic relevance, including whether fiscal data are available for all of general govern...

Bosnia and Herzegovina
			: Financial Sector Assessment Program - Banking Sector Supervision Core Principles Implementation Update-Technical Note

Bosnia and Herzegovina : Financial Sector Assessment Program - Banking Sector Supervision Core Principles Implementation Update-Technical Note »

Volume/Issue: 2015/214

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2015

DOI: http://dx.doi.org/10.5089/9781513551616.002

ISBN: 9781513551616

Keywords: banks, banking, bank, risk, banking supervision

This Technical Note presents an update on Banking Sector Supervision Core Principles Implementation in Bosnia and Herzegovina. The system of banking supervision oversight has significantly improved since the last r...

Youth Unemployment in Advanced Europe
			: Okun's Law and Beyond

Youth Unemployment in Advanced Europe : Okun's Law and Beyond »

Volume/Issue: 2015/5

Series: IMF Working Papers

Author(s): Angana Banerji , Huidan Lin , and Sergejs Saksonovs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2015

DOI: http://dx.doi.org/10.5089/9781498382519.001

ISBN: 9781498382519

Keywords: Youth employment, youth unemployment, Okun&;amp;#x2019;s law, business cycle, labor market factors, labor market, labor, employment, General, Labor Force and Employment

The crisis has intensified what was previously a chronic unemployment problem in Europe; youth unemployment is now at unprecedented highs in some European countries. This paper assesses the main drivers of youth un...

Austria
			: Staff Report for the 2014 Article IV Consultation

Austria : Staff Report for the 2014 Article IV Consultation »

Volume/Issue: 2014/278

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 2014

DOI: http://dx.doi.org/10.5089/9781498333726.002

ISBN: 9781498333726

Keywords: Economic indicators, Economic growth, Debt sustainability analysis, Banking sector, Bank restructuring, Austria, Article IV consultation reports, Staff Reports, Press releases, Labor productivity

KEY ISSUES Context: Austria did not experience a severe boom-bust cycle and came through the crisis relatively well. The main impact was on the banking sector and public debt. With cyclical slack low and the recov...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2014/279

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 2014

DOI: http://dx.doi.org/10.5089/9781498351799.002

ISBN: 9781498351799

Keywords: expenditure, health expenditure, pension, expenditure growth, expenditure levels

...

How to Capture Macro-Financial Spillover Effects in Stress Tests?

How to Capture Macro-Financial Spillover Effects in Stress Tests? »

Volume/Issue: 2014/103

Series: IMF Working Papers

Author(s): Heiko Hesse , Ferhan Salman , and Christian Schmieder

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2014

DOI: http://dx.doi.org/10.5089/9781498379083.001

ISBN: 9781498379083

Keywords: Macro-financial linkages, Scenarios, Spillover, Contagion, bonds, national bank, banks ’; solvency, banking, bank solvency, General Outlook and Conditions

One of the challenges of financial stability analysis and bank stress testing is how to establish scenarios with meaningful macro-financial linkages, i.e., taking into account spillover effects and other forms of c...

Cross-Country Experience in Reducing Net Foreign Liabilities
			: Lessons for New Zealand

Cross-Country Experience in Reducing Net Foreign Liabilities : Lessons for New Zealand »

Volume/Issue: 2014/62

Series: IMF Working Papers

Author(s): Ding Ding , Werner Schule , and Yan Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2014

DOI: http://dx.doi.org/10.5089/9781475516388.001

ISBN: 9781475516388

Keywords: Net foreign liabilities, Current account balance, Public savings, foreign liabilities, foreign assets, international investment, financial integration, external indebtedness, Open Economy Macroeconomics,

This paper studies the dynamics of net foreign liabilities across a number of countries. Our historical analysis suggests that an orderly reduction in a country's net foreign liabilities has mostly occurred when th...

Austria
			: Publication of Financial Sector Assessment Program Documentation-Detailed Assessment of Basel Core Principles for Effective Banking Supervision

Austria : Publication of Financial Sector Assessment Program Documentation-Detailed Assessment of Basel Core Principles for Effective Banking Supervision »

Volume/Issue: 2014/13

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2014

DOI: http://dx.doi.org/10.5089/9781484374948.002

ISBN: 9781484374948

Keywords: banking, banking supervision, banking secrecy, banking system, internal audit

This paper discusses key findings of the Detailed Assessment of Basel Core Principles for Effective Banking Supervision on Austria. Since the outbreak of the financial crisis, some Austrian credit institutions had...

Austria
			: Publication of Financial Sector Assessment Program Documentation-Technical Note on Crisis Preparedness and Management Framework

Austria : Publication of Financial Sector Assessment Program Documentation-Technical Note on Crisis Preparedness and Management Framework »

Volume/Issue: 2014/15

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2014

DOI: http://dx.doi.org/10.5089/9781484376348.002

ISBN: 9781484376348

Keywords: banking, problem bank, insured deposit, deposit guarantee

This Technical Note analyzes crisis preparedness and management framework in Austria. The global crisis revealed weaknesses in Austria's financial stability policy framework. Austria needs to put in place a special...

Austria
			: Publication of Financial Sector Assessment Program Documentation-Technical Note on Insurance Sector

Austria : Publication of Financial Sector Assessment Program Documentation-Technical Note on Insurance Sector »

Volume/Issue: 2014/14

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2014

DOI: http://dx.doi.org/10.5089/9781484375730.002

ISBN: 9781484375730

Keywords: life insurance, insurance industry, insurance companies, risk management

This Technical Note provides an update on the Austrian insurance industry and an analysis of its regulatory and supervisory regime. The structure of the domestic insurance sector has remained largely stable since t...

Austria
			: Publication of Financial Sector Assessment Program Documentation-Technical Note on Stress Testing the Banking Sector

Austria : Publication of Financial Sector Assessment Program Documentation-Technical Note on Stress Testing the Banking Sector »

Volume/Issue: 2014/16

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2014

DOI: http://dx.doi.org/10.5089/9781484377000.002

ISBN: 9781484377000

Keywords: banking, banking system, interbank market

This Technical Note discusses key results of stress testing of the banking sector in Austria. The Austrian banking system is in a recovery phase following the 2008-2009 global financial crisis. Stress testing resul...

Austria
			: 2013 Article IV Consultation

Austria : 2013 Article IV Consultation »

Volume/Issue: 2013/280

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2013

DOI: http://dx.doi.org/10.5089/9781475575088.002

ISBN: 9781475575088

Keywords: fiscal adjustment, tax burden, taxation

This paper presents details of Austria's 2013 Article IV Consultation. Austria has been growing economically but is facing challenges in the financial sector. Full implementation of medium-term fiscal adjustment pl...

Austria
			: Financial Sector Stability Assessment

Austria : Financial Sector Stability Assessment »

Volume/Issue: 2013/283

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2013

DOI: http://dx.doi.org/10.5089/9781484356302.002

ISBN: 9781484356302

Keywords: banking, banking system, bank assets, bank asset

This Financial Sector Stability Assessment report reviews economic development and different fiscal policies in Austria. The global crisis has revealed weaknesses in Austria's financial stability policy framework,...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2013/281

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2013

DOI: http://dx.doi.org/10.5089/9781484394083.002

ISBN: 9781484394083

Keywords: benefits, taxation, payroll, tax wedge, wages

This paper focuses on Austria's 2013 Article IV Consultation on economic development and policies related to labor demand and supply. Austria taxes labor heavily, and this practice explains in particular the limite...

European Union
			: Publication of Financial Sector Assessment Program Documentation-Technical Note on Deposit Insurance

European Union : Publication of Financial Sector Assessment Program Documentation-Technical Note on Deposit Insurance »

Volume/Issue: 2013/66

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2013

DOI: http://dx.doi.org/10.5089/9781475542646.002

ISBN: 9781475542646

Keywords: deposit insurance, banking, deposit guarantee, deposit guarantee schemes, banking union

This article is an overview of existing deposit insurance in the European Union. There are various national deposit schemes that form the source of insurance. The schemes come up with various coverage, contribution...

Structural Reforms, IMF Programs and Capacity Building
			: An Empirical Investigation

Structural Reforms, IMF Programs and Capacity Building : An Empirical Investigation »

Volume/Issue: 2012/232

Series: IMF Working Papers

Author(s): Rabah Arezki , Marc Quintyn , and Frederik Toscani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 September 2012

DOI: http://dx.doi.org/10.5089/9781475510706.001

ISBN: 9781475510706

Keywords: Structural Reform, IMF Program, Capacity Building, technical assistance, regulation, capacity building activities, bureaucratic quality, General, International Lending and Debt Problems,

This paper investigates the role that International Monetary Fund (IMF) programs and capacity building play in fostering structural reforms. To do so, we exploit two novel datasets on IMF capacity building and stru...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2012/252

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 August 2012

DOI: http://dx.doi.org/10.5089/9781475506785.002

ISBN: 9781475506785

Keywords: subsidiaries, banking, banking system, banks ? loan, banking sector

The Austrian authorities introduced new supervisory guidance aiming at constraining the funding model of the three largest Austrian banks' subsidiaries. The guidance introduced the concept of Loan-to-Local-Stable-F...

Austria
			: 2012 Article IV Consultation:  Staff Report; Informational Annex; Statement by the Staff Representative; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

Austria : 2012 Article IV Consultation: Staff Report; Informational Annex; Statement by the Staff Representative; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria »

Volume/Issue: 2012/251

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2012

DOI: http://dx.doi.org/10.5089/9781475506778.002

ISBN: 9781475506778

Keywords: retirement, pension, early retirement, health care, retirement age

Austria has relatively strong macroeconomic fundamentals, but also deep ties with the rest of the euro area. The legacy of an overly ambitious eastward financial sector expansion has created substantial challenges...

An Integrated Framework for Financial Positions and Flowson a From-Whom-To-Whom Basis
			: Concepts, Status, and Prospects

An Integrated Framework for Financial Positions and Flowson a From-Whom-To-Whom Basis : Concepts, Status, and Prospects »

Volume/Issue: 2012/57

Series: IMF Working Papers

Author(s): Segismundo Fassler , Manik Shrestha , and Reimund Mink

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

DOI: http://dx.doi.org/10.5089/9781463937751.001

ISBN: 9781463937751

Keywords: financial flows, financial accounts, balance sheet approach, financial instruments, central bank, financial assets, financial corporations, monetary fund, Methodology for Collecting, Estimating

The global crisis of 2008 highlighted the need to understand financial interconnectedness among the various sectors of an economy and between them and their counterparties in the rest of the world. However, applica...

How Risky Are Banks' Risk Weighted Assets? Evidence From the Financial Crisis

How Risky Are Banks' Risk Weighted Assets? Evidence From the Financial Crisis »

Volume/Issue: 2012/36

Series: IMF Working Papers

Author(s): Sonali Das , and Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463933791.001

ISBN: 9781463933791

Keywords: crisis, regulation, risk weighted assets, Basel III, banking, return on assets, dummy variables, standard errors, independent variables, Financial Institutions and Services: General

We study how investors account for the riskiness of banks' risk-weighted assets (RWA) by examining the determinants of stock returns and market measures of risk. We find that banks with higher RWA had lower stock r...

Next Generation System-Wide Liquidity Stress Testing

Next Generation System-Wide Liquidity Stress Testing »

Volume/Issue: 2012/3

Series: IMF Working Papers

Author(s): Claus Puhr , Andre Santos , Christian Schmieder , Salih Neftci , Benjamin Neudorfer , Stefan Schmitz , and Heiko Hesse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781475502466.001

ISBN: 9781475502466

Keywords: StressTesting, Basel III, liquidity, solvency, cash flow, maturity, Monetary and Capital Markets Department, General Financial Markets: General (includes Measurement and Data), Financial Institutions and Services: General,

A framework to run system-wide, balance sheet data-based liquidity stress tests is presented. The liquidity framework includes three elements: (a) a module to simulate the impact of bank run scenarios; (b) a module...

Russian Federation
			: Targeted Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision

Russian Federation : Targeted Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision »

Volume/Issue: 2011/336

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2011

DOI: http://dx.doi.org/10.5089/9781463925925.002

ISBN: 9781463925925

Keywords: banking, risk management, internal control, internal audit, banking supervision, Russian Federation:,

This paper focuses on targeted detailed assessment of observance of the Basel Core Principles for effective banking supervision. The selection of the principles to be reassessed was made by the mission team based o...

Austria
			: 2011 Article IV Consultation:  Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

Austria : 2011 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria »

Volume/Issue: 2011/275

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 September 2011

DOI: http://dx.doi.org/10.5089/9781463902841.002

ISBN: 9781463902841

Keywords: banking, retirement, pensions, health care

Increasing integration to the East has benefited the Austrian economy, but also created vulnerabilities that came to a head with the global financial crisis. The crisis has highlighted old challenges and created ne...

Do Fiscal Spillovers Matter?

Do Fiscal Spillovers Matter? »

Volume/Issue: 2011/211

Series: IMF Working Papers

Author(s): Sebastian Weber , and Anna Ivanova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463902315.001

ISBN: 9781463902315

Keywords: coordinated fiscal exit, fiscal changes, fiscal consolidation, fiscal measure, Macroeconomic Aspects Of International Trade And Finance, Macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook, general Aggregative Models,

The paper assesses the impact of fiscal spillovers on growth in the context of a coordinated exit from crisis management policies. We find that despite potentially sizeable domestic effects from consolidation, aggr...

Systemic Risks in Global Banking
			: What Available Data Can Tell Us and What More Data Are Needed?

Systemic Risks in Global Banking : What Available Data Can Tell Us and What More Data Are Needed? »

Volume/Issue: 2011/222

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Patrick McGuire , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904241.001

ISBN: 9781463904241

Keywords: Systemic risks, banking system, international, contagion, vulnerabilities, banking, systemic risk, banking statistics, recapitalization, International Lending and Debt Problems

The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or asset class can have a sizable impact on the stability of institutions and markets around the world...

Avoid Filling Swiss Cheese with Whipped Cream
			: Imputation Techniques and Evaluation Procedures for Cross-Country Time Series

Avoid Filling Swiss Cheese with Whipped Cream : Imputation Techniques and Evaluation Procedures for Cross-Country Time Series »

Volume/Issue: 2011/151

Series: IMF Working Papers

Author(s): Michael Weber , and Michaela Denk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455270507.001

ISBN: 9781455270507

Keywords: Missing or incomplete data, imputation quality, statistical matching, time series, missing data, algorithms, statistical methods, cluster analysis, Estimation, Model Evaluation and Selection

International organizations collect data from national authorities to create multivariate cross-sectional time series for their analyses. As data from countries with not yet well-established statistical systems may...

Financial Cycles
			: What? How? When?

Financial Cycles : What? How? When? »

Volume/Issue: 2011/76

Series: IMF Working Papers

Author(s): Marco Terrones , Ayhan Kose , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

DOI: http://dx.doi.org/10.5089/9781455227037.001

ISBN: 9781455227037

Keywords: credit cycles, asset busts, crunches, house prices, financial cycles, financial crises, financial markets, equity markets, International Policy Coordination and Transmission,

This paper provides a comprehensive analysis of financial cycles using a large database covering 21 advanced countries over the period 1960:1-2007:4. Specifically, we analyze cycles in credit, house prices, and equ...

U.S. Monetary Shocks and Global Stock Prices

U.S. Monetary Shocks and Global Stock Prices »

Volume/Issue: 2010/278

Series: IMF Working Papers

Author(s): Luc Laeven , and Hui Tong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

DOI: http://dx.doi.org/10.5089/9781455210855.001

ISBN: 9781455210855

Keywords: monetary transmission, financial constraints, asset allocation, financial dependence, stock prices, monetary shocks, stock market, Financial Markets and the Macroeconomy, Financial Aspects of Economic Integration,

This paper studies how U.S. monetary policy affects global stock prices. We find that global stock prices respond strongly to changes in U.S. interest rate policy, with stock prices increasing (decreasing) followin...

Bankers Without Borders? Implications of Ring-Fencing for European Cross-Border Banks

Bankers Without Borders? Implications of Ring-Fencing for European Cross-Border Banks »

Volume/Issue: 2010/247

Series: IMF Working Papers

Author(s): Yuliya Makarova , Anna Ilyina , Christian Schmieder , and Eugenio Cerutti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

DOI: http://dx.doi.org/10.5089/9781455209477.001

ISBN: 9781455209477

Keywords: ring-fencing, subsidiaries, banking, capital needs, capital adequacy, banking system, International Lending and Debt Problems, Financial Aspects of Economic Integration, Financial Institutions and Services: Government Policy and Regulation,

This paper presents a stylized analysis of the effects of ring-fencing (i.e., different restrictions on cross-border transfers of excess profits and/or capital between a parent bank and its subsidiaries located in...

Austria
			: 2010 Article IV Consultation:  Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

Austria : 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria »

Volume/Issue: 2010/276

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 2010

DOI: http://dx.doi.org/10.5089/9781455205530.002

ISBN: 9781455205530

Keywords: debt, domestic demand, deficit, article

Austria's recession had limited effects on unemployment. Investment declined sharply but consumption helped cushion the recession, supported by tax cuts and various labor market measures together with large increas...

The Fundamental Determinants of Credit Default Risk for European Large Complex Financial Institutions

The Fundamental Determinants of Credit Default Risk for European Large Complex Financial Institutions »

Volume/Issue: 2010/153

Series: IMF Working Papers

Author(s): Jiri Podpiera , and Inci Ötker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201365.001

ISBN: 9781455201365

Keywords: Large Complex Financial Institutions, dynamic panel data, CAMELS, vulnerability analysis, bond, autocorrelation, corporate bond, statistics, standard errors, Financial Institutions and Services: Government Policy and Regulation

This paper attempts to identify the fundamental variables that drive the credit default swaps during the initial phase of distress in selected European Large Complex Financial Institutions (LCFIs). It uses yearly d...

Borrowing Agreement with the Oesterreichische Nationalbank

Borrowing Agreement with the Oesterreichische Nationalbank »

Volume/Issue: 2010/008

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2010

DOI: http://dx.doi.org/10.5089/9781498337915.007

ISBN: 9781498337915

Keywords: Austrian National Bank, Borrowed resources use, Borrowing agreements, Borrowing by Fund, Executive Board decisions, Fund general resources, Lapse of time approval, SDR interest rates, Freely usable currencies, Interest rates

In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the 'Fund'), and with a view to supporting the Fund's ability to provide timely an...

Austria
			: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

Austria : Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism »

Volume/Issue: 2009/298

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

DOI: http://dx.doi.org/10.5089/9781451802481.002

ISBN: 9781451802481

Keywords: court, due diligence, money laundering, law enforcement, terrorist financing

This paper presents a Detailed Assessment Report on Antimoney Laundering (AML) and Combating the Financing of Terrorism (CFT) for Austria. The authorities have designed and are implementing a comprehensive AML/CFT...

Austria
			: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Austria : Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism »

Volume/Issue: 2009/299

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

DOI: http://dx.doi.org/10.5089/9781451802498.002

ISBN: 9781451802498

Keywords: money laundering, terrorism, terrorist, law enforcement, financing of terrorism

The paper presents a report on Austria's Observance of Standards and Codes for Financial Action Task Force Recommendations for Antimoney Laundering (AML)/Combating the Financing of Terrorism (AML/CFT). The Austrian...

Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts

Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts »

Volume/Issue: 2009/252

Series: IMF Working Papers

Author(s): Alasdair Scott , Pau Rabanal , and Prakash Kannan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2009

DOI: http://dx.doi.org/10.5089/9781451873993.001

ISBN: 9781451873993

Keywords: inflation, monetary fund, monetary conditions, central bank

We find that inflation, output and the stance of monetary policy do not typically display unusual behavior ahead of asset price busts. By contrast, credit, shares of investment in GDP, current account deficits, and...

Euro Area Sovereign Risk During the Crisis

Euro Area Sovereign Risk During the Crisis »

Volume/Issue: 2009/222

Series: IMF Working Papers

Author(s): Edda Zoli , and Silvia Sgherri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

DOI: http://dx.doi.org/10.5089/9781451873696.001

ISBN: 9781451873696

Keywords: Sovereign Spreads, Global Risk Repricing, bond, sovereign bond, bonds,

While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy, it is key that the entailed fiscal costs not be seen by markets as undermining fiscal sustainabi...

Austria
			: 2009 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

Austria : 2009 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria »

Volume/Issue: 2009/295

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 September 2009

DOI: http://dx.doi.org/10.5089/9781451802474.002

ISBN: 9781451802474

Keywords: debt, financial sector, interest, article, revenues

This report is focused on the impact of the financial crisis on the Austrian economy and the financial sector, the authorities' policy responses, and macrofinancial linkages and spillovers. The financial sector has...

Benchmark Priors Revisited
			: On Adaptive Shrinkage and the Supermodel Effect in Bayesian Model Averaging

Benchmark Priors Revisited : On Adaptive Shrinkage and the Supermodel Effect in Bayesian Model Averaging »

Volume/Issue: 2009/202

Series: IMF Working Papers

Author(s): Martin Feldkircher , and Stefan Zeugner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

DOI: http://dx.doi.org/10.5089/9781451873498.001

ISBN: 9781451873498

Keywords: Bayesian model averaging, hyper-g prior, shrinkage factor, Zellner&;amp;#x2019;s g prior, model uncertainty, growth econometrics, noise, probabilities, statistics, bayes factor

Default prior choices fixing Zellner's g are predominant in the Bayesian Model Averaging literature, but tend to concentrate posterior mass on a tiny set of models. The paper demonstrates this supermodel effect and...

Euro Area Policies
			: 2009 Article IV Consultation:  Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Member Countries

Euro Area Policies : 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Member Countries »

Volume/Issue: 2009/223

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2009

DOI: http://dx.doi.org/10.5089/9781451813098.002

ISBN: 9781451813098

Keywords: financial system, financial institutions, labor market

This 2009 Article IV Consultation focuses on euro area policies. The euro area remains in recession, with signs of improvement yet to evolve into a recovery. The large drop in financial wealth, an associated increa...

Credit Risk Spreads in Local and Foreign Currencies

Credit Risk Spreads in Local and Foreign Currencies »

Volume/Issue: 2009/110

Series: IMF Working Papers

Author(s): Zvi Wiener , and Dan Galai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2009

DOI: http://dx.doi.org/10.5089/9781451872576.001

ISBN: 9781451872576

Keywords: credit spread, currency mismatch, Merton&;amp;#x2019;s model, correlation, bond, present value, probability,

The paper shows how-in a Merton-type model with bankruptcy-the currency composition of debt changes the risk profile of a company raising a given amount of financing, and thus affects the cost of debt. Foreign curr...

Foreign Banks in the CESE Countries
			: In for a Penny, in for a Pound?

Foreign Banks in the CESE Countries : In for a Penny, in for a Pound? »

Volume/Issue: 2009/54

Series: IMF Working Papers

Author(s): Li Ong , and Andrea Maechler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451872026.001

ISBN: 9781451872026

Keywords: Contagion, cross-border claims, home, host, local affiliates of foreign banks, claims, bank claims, bank for international settlements, banking sector,

The aim of this paper is to construct a comprehensive and consistent dataset to analyze the potential risks from foreign bank lending, for both the creditor and borrower countries of Central, Eastern and South-East...

Regional Financial Interlinkages and Financial Contagion within Europe

Regional Financial Interlinkages and Financial Contagion within Europe »

Volume/Issue: 2009/6

Series: IMF Working Papers

Author(s): Inci Ötker , Karl Driessen , and Zsófia Árvai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

DOI: http://dx.doi.org/10.5089/9781451871531.001

ISBN: 9781451871531

Keywords: Financial linkages, contagion, spillover effects, funding exposure, credit growth, Central, Eastern, Southeastern Europe, claims, banking

This paper focuses on financial interlinkages within Europe and potential contagion channeled through these interlinkages. It discusses the increased role of external financing as a source of funding for credit gro...

House Price Developments in Europe
			: A Comparison

House Price Developments in Europe : A Comparison »

Volume/Issue: 2008/211

Series: IMF Working Papers

Author(s): Paul Hilbers , Angana Banerji , Haiyan Shi , and Alexander Hoffmaister

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

DOI: http://dx.doi.org/10.5089/9781451870695.001

ISBN: 9781451870695

Keywords: Housing markets, mortgage, mortgage interest, property tax, home ownership,

House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing three groups of countries: the "fast lane", the average performers, and the slow movers. Price move...

Stress Testing at the IMF

Stress Testing at the IMF »

Volume/Issue: 2008/206

Series: IMF Working Papers

Author(s): Mark Swinburne , Stéphanie Marie Stolz , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

DOI: http://dx.doi.org/10.5089/9781451870640.001

ISBN: 9781451870640

Keywords: risk modeling, financial sector, financial institutions

For almost a decade, the IMF has been using stress tests to identify vulnerabilities across institutions that could undermine the stability of a country's financial system. This working paper focuses on the IMF's e...

Austria
			: Financial Sector Assessment Program Technical Note:  Stress Testing and Short-Term Vulnerabilities

Austria : Financial Sector Assessment Program Technical Note: Stress Testing and Short-Term Vulnerabilities »

Volume/Issue: 2008/204

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2008

DOI: http://dx.doi.org/10.5089/9781451802436.002

ISBN: 9781451802436

Keywords: banking, banking system, market risk, liquidity ratio

This technical note focuses on the Austrian banking system that exhibits considerable resilience against shocks determined by stress tests. The main sources of risk lie in the credit risk arising from exposures to...

Austria
			: Financial Sector Assessment Program Update Technical Note:  Factual Update and Analysis of the Basel Core Principles for Effective Banking Supervision

Austria : Financial Sector Assessment Program Update Technical Note: Factual Update and Analysis of the Basel Core Principles for Effective Banking Supervision »

Volume/Issue: 2008/205

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2008

DOI: http://dx.doi.org/10.5089/9781451802443.002

ISBN: 9781451802443

Keywords: banking, banking supervision, internal audit, risk management, consolidated supervision

This technical note highlights the financial sector assessment program update of Austria with factual update for effective banking supervision. Financial sector regulation and supervision should be conducted in the...

Austria
			: Financial Sector Assessment Program Update Technical Note:  Factual Update and Analysis of the IAIS Insurance Core Principles

Austria : Financial Sector Assessment Program Update Technical Note: Factual Update and Analysis of the IAIS Insurance Core Principles »

Volume/Issue: 2008/207

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2008

DOI: http://dx.doi.org/10.5089/9781451802467.002

ISBN: 9781451802467

Keywords: insurance companies, pension, pension funds, risk management

This technical note highlights Austria's analysis of the International Association of Insurance Supervisors Insurance Core Principles. The Austrian economy generally performed well over the past several years, with...

Austria
			: Financial Sector Assessment Program Update Technical Note:  Factual Update and Analysis of the IOSCO Objectives and Principles of Securities Regulation

Austria : Financial Sector Assessment Program Update Technical Note: Factual Update and Analysis of the IOSCO Objectives and Principles of Securities Regulation »

Volume/Issue: 2008/206

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2008

DOI: http://dx.doi.org/10.5089/9781451802450.002

ISBN: 9781451802450

Keywords: market manipulation, insider dealing, external auditors, collective investment schemes, investors

This technical note focuses on the International Organization of Securities Commissions objectives and principles of securities regulations of Austria. The 2003 assessment found that Austria had fully broadly imple...

Austria
			: 2008 Article IV Consultation:  Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

Austria : 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria »

Volume/Issue: 2008/188

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2008

DOI: http://dx.doi.org/10.5089/9781451802405.002

ISBN: 9781451802405

Keywords: financial sector, article, interest, deficit, budget

A mix of solid economic policies, wage moderation, and an early orientation toward Eastern Europe explain Austria's strong economic performance. The economy has grown strong in 2007 and through the first quarter of...

Austria
			: Financial System Stability Assessment:  Update

Austria : Financial System Stability Assessment: Update »

Volume/Issue: 2008/190

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 June 2008

DOI: http://dx.doi.org/10.5089/9781451802429.002

ISBN: 9781451802429

Keywords: deposit insurance, financial institutions, financial system, financial sector

The Austrian authorities have been making great efforts since 2003 to enhance the quality of banking supervision and keep up-to-date with banking sector developments. Banks face a reputation risk arising from expos...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2008/189

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 June 2008

DOI: http://dx.doi.org/10.5089/9781451802412.002

ISBN: 9781451802412

Keywords: fiscal federalism, federalism, subnational governments, tax autonomy, subnational government

Austria's federal system comprises the federal government and nine provinces (Länder). The federal system is rather centralized by international standards, with the federal government (including social security fun...

Medium-Term Budgetary Frameworks - Lessons for Austria from International Experience

Medium-Term Budgetary Frameworks - Lessons for Austria from International Experience »

Volume/Issue: 2008/163

Series: IMF Working Papers

Author(s): Erik Lundback

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

DOI: http://dx.doi.org/10.5089/9781451870213.001

ISBN: 9781451870213

Keywords: Fiscal Frameworks, mtbf, expenditure, expenditures, fiscal policies,

The Austrian government is about to introduce a new fiscal management framework. The first step is to introduce a medium-term budgetary framework, including an expenditure rule. The paper focuses on this first step...

Estimating Spillover Risk Among Large EU Banks

Estimating Spillover Risk Among Large EU Banks »

Volume/Issue: 2007/267

Series: IMF Working Papers

Author(s): Li Ong , and Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2007

DOI: http://dx.doi.org/10.5089/9781451868302.001

ISBN: 9781451868302

Keywords: contagion, large banks, banking, stock market, bond, government bond,

The paper examines the scope for cross-border spillovers among major EU banks using information contained in the stock prices and financial statements of these banks. The results suggest that spillovers within dome...

Russian Federation
			: 2007 Article IV Consultation:  Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

Russian Federation : 2007 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion »

Volume/Issue: 2007/351

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2007

DOI: http://dx.doi.org/10.5089/9781451945881.002

ISBN: 9781451945881

Keywords: debt, budget, interest, revenues, External detb, Staff Report,

The staff report for the 2007 Article IV Consultation highlights the Russian Federation's long-term perspective, economic developments, and macroeconomic policies. Russia's economic growth remains robust. High oil...

International Financial Statistics Yearbook, 2007

International Financial Statistics Yearbook, 2007 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 August 2007

DOI: http://dx.doi.org/10.5089/9781589066557.041

ISBN: 9781589066557

Keywords: banking, banking institutions, national bank, ports, bonds, foreign exchange, deposit rate, money market, banknotes, government finance

The International Financial Statistics Yearbook, usually published in September, contains available annual data covering 12 years for countries appearing in the monthly issues of IFS. The IFS service is the standar...

Complex Ownership Structures and Corporate Valuations

Complex Ownership Structures and Corporate Valuations »

Volume/Issue: 2007/140

Series: IMF Working Papers

Author(s): Luc Laeven , and Ross Levine

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867046.001

ISBN: 9781451867046

Keywords: Large shareholders, Blockholders, shareholder, shareholders, corporate valuations, dummy variable,

The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures: 100 percent small shareholders or one large, controlling owner combined with small shareholders...

Austria
			: 2007 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria.

Austria : 2007 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria. »

Volume/Issue: 2007/145

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 May 2007

DOI: http://dx.doi.org/10.5089/9781451802399.002

ISBN: 9781451802399

Keywords: debt, budget, article, deficit, interest

This 2007 Article IV Consultation highlights that the favorable economic outcome for Austria is owed to a combination of stability-oriented macropolicies, a range of structural reforms, strong international competi...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2007/143

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 May 2007

DOI: http://dx.doi.org/10.5089/9781451802382.002

ISBN: 9781451802382

Keywords: fiscal policies, fiscal responsibility, fiscal management, fiscal framework

This Selected Issues paper focuses on the medium-term budgetary framework (MTBF) for Austria. Austria is part of a trend among many countries to consider some form of MTBF. This paper describes the proposed framewo...

Labor's Liquidity Service and Firing Costs

Labor's Liquidity Service and Firing Costs »

Volume/Issue: 2007/120

Series: IMF Working Papers

Author(s): Herman Bennett

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

DOI: http://dx.doi.org/10.5089/9781451866841.001

ISBN: 9781451866841

Keywords: Firing Costs, Financial Restrictions, Liquidity Constraints, Labor&;amp;#x2019;s Liquidity Service, Empirical Evidence, equation, employment, correlation, standard errors,

This paper proposes a new effect of firing costs on firms' behavior that builds from firms' demand for liquidity. When a time gap exists between production and its associated revenues, firing can become a liquidity...

Introduction to Applied Stress Testing

Introduction to Applied Stress Testing »

Volume/Issue: 2007/59

Series: IMF Working Papers

Author(s): Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

DOI: http://dx.doi.org/10.5089/9781451866230.001

ISBN: 9781451866230

Keywords: banking, foreign exchange, capital adequacy, financial stability, financial sector, General Financial Markets: General (includes Measurement and Data), Financial Institutions and Services: General,

Stress testing is a useful and increasingly popular, yet sometimes misunderstood, method of analyzing the resilience of financial systems to adverse events. This paper aims to help demystify stress tests, and illus...

Russian Federation
			: Staff Report for the 2006 Article IV Consultation

Russian Federation : Staff Report for the 2006 Article IV Consultation »

Volume/Issue: 2006/429

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2006

DOI: http://dx.doi.org/10.5089/9781451975246.002

ISBN: 9781451975246

Keywords: debt, interest, budget, deficit

Propelled by large terms-of-trade gains, GDP growth has accelerated and is running close to potential. The demand pressures associated with the large terms-of-trade gains are reflected in a fast real appreciation o...

Boletín del FMI Vol.35, No.21 noviembre 2006

Boletín del FMI Vol.35, No.21 noviembre 2006 »

Volume/Issue: 35/22

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2006

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781451944457.023

ISBN: 9781451944457

El Boletín del FMI aborda de manera específica el trabajo del FMI y los grandes temas macroeconómicos y financieros internacionales y ofrece análisis sobre la evolución en los distintos países y regiones y en el mu...

Economic Integration and Financial Stability
			: A European Perspective

Economic Integration and Financial Stability : A European Perspective »

Volume/Issue: 2006/296

Series: IMF Working Papers

Author(s): Gianni De Nicolo , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

DOI: http://dx.doi.org/10.5089/9781451865561.001

ISBN: 9781451865561

Keywords: Economic integration, equation, risk profiles, insurance companies, correlation, probability, Financial Aspects of Economic Integration,

This paper assesses changes in synchronization of real activity and financial market integration in Western Europe and evaluates their implications for financial stability. We find increased synchronization of real...

Institutional Quality, Knightian Uncertainty, and Insurability
			: A Cross-Country Analysis

Institutional Quality, Knightian Uncertainty, and Insurability : A Cross-Country Analysis »

Volume/Issue: 2006/179

Series: IMF Working Papers

Author(s): S. Erbas , and Chera Sayers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2006

DOI: http://dx.doi.org/10.5089/9781451864397.001

ISBN: 9781451864397

Keywords: Institutional Quality, Knightian Uncertainty, Insurability, non-life insurance, life insurance, insurance markets, insurance coverage, Comparative Studies of Countries, Information And Uncertainty,

Knightian uncertainty (ambiguity) implies presence of uninsurable risks. Institutional quality may be a good indicator of Knightian uncertainty. This paper correlates non-life insurance penetration in 70 countries...

IMF Survey
			: Volume 34, Issue 17

IMF Survey : Volume 34, Issue 17 »

Volume/Issue: 34/17

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 September 2005

DOI: http://dx.doi.org/10.5089/9781451938883.023

ISBN: 9781451938883

Keywords: tax treaties, international monetary fund, tax policy, economic outlook

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen...

IMF Survey, Volume 34, Issue 14

IMF Survey, Volume 34, Issue 14 »

Volume/Issue: 34/14

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 August 2005

DOI: http://dx.doi.org/10.5089/9781451938760.023

ISBN: 9781451938760

Keywords: tax treaties, international monetary fund, tax policy, public sector

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen...

Austria
			: Staff Report for the 2005 Article IV Consultation

Austria : Staff Report for the 2005 Article IV Consultation »

Volume/Issue: 2005/248

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2005

DOI: http://dx.doi.org/10.5089/9781451802368.002

ISBN: 9781451802368

Keywords: debt, budget, interest, deficit

This 2005 Article IV Consultation highlights that economic activity in Austria gathered speed in 2004, supported mostly by strong export performance. Growth of real GDP rose to 2.2 percent in 2004. Consumption grow...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2005/249

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2005

DOI: http://dx.doi.org/10.5089/9781451802375.002

ISBN: 9781451802375

Keywords: foreign currency, exchange rate, interest rate, exchange rates, currency substitution

This Selected Issues paper estimates a dynamic model of foreign currency loans to households in Austria to analyze their behavior and assess the effectiveness of measures intended to stem their rise. This paper als...

IMF Survey, Volume 34, Issue 13

IMF Survey, Volume 34, Issue 13 »

Volume/Issue: 34/13

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2005

DOI: http://dx.doi.org/10.5089/9781451938715.023

ISBN: 9781451938715

Keywords: international monetary fund, regional cooperation, global integration, global economy

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen...

IMF Survey, Volume 34, Issue 09

IMF Survey, Volume 34, Issue 09 »

Volume/Issue: 34/9

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 May 2005

DOI: http://dx.doi.org/10.5089/9781451938548.023

ISBN: 9781451938548

Keywords: international monetary fund, development economics, central bank, atomic energy

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen...

Aging
			: Some Pleasant Fiscal Arithmetic

Aging : Some Pleasant Fiscal Arithmetic »

Volume/Issue: 2005/71

Series: IMF Working Papers

Author(s): David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

DOI: http://dx.doi.org/10.5089/9781451860900.001

ISBN: 9781451860900

Keywords: OECD countries, public expenditure, expenditure, expenditure growth, total expenditure, National Government Expenditures and Related Policies,

Projections of age-related public expenditure growth have raised widespread concerns about fiscal sustainability. This paper examines how total expenditure would develop under four policy rules on public expenditur...

Russian Federation
			: Staff Report for the 2004 Article IV Consultation

Russian Federation : Staff Report for the 2004 Article IV Consultation »

Volume/Issue: 2004/314

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

DOI: http://dx.doi.org/10.5089/9781451833072.002

ISBN: 9781451833072

Keywords: debt, interest, budget, revenues, external debt

This report on the Russian Federation's Article IV Consultation highlights Data Module and response by the authorities. Russia's statistical system has made good progress in adopting international statistical metho...

Austria
			: Staff Report for the 2004 Article IV Consultation

Austria : Staff Report for the 2004 Article IV Consultation »

Volume/Issue: 2004/236

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 August 2004

DOI: http://dx.doi.org/10.5089/9781451802306.002

ISBN: 9781451802306

Keywords: debt, deficit, interest, budget, government debt

Austria's 2004 Article IV Consultation reports that the economy has continued to perform relatively well, unemployment is among the lowest in the European Union, and competitiveness remains strong. Also, a gradual...

Austria
			: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics:  Banking Supervision, Securities Regulation, Insurance Regulation, and Anti-Money Laundering and Combating the Financing of Terrorism

Austria : Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Regulation, and Anti-Money Laundering and Combating the Financing of Terrorism »

Volume/Issue: 2004/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 August 2004

DOI: http://dx.doi.org/10.5089/9781451802351.002

ISBN: 9781451802351

Keywords: banking, money laundering, deposit insurance, banking sector, banking supervision

Austria's Financial System Stability Assessment highlights Reports on the Observance of Standards and Codes on banking supervision, securities regulation, and insurance regulation. The banking sector has weathered...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2004/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 August 2004

DOI: http://dx.doi.org/10.5089/9781451802344.002

ISBN: 9781451802344

Keywords: expenditures, expenditure, fiscal policy, taxation, fiscal variables

This Selected Issues paper for Austria reports the impact of the government size, in addition to tax and expenditure composition, on real GDP growth. In addition to having a large public sector relative to the Euro...

Explaining Efficiency Differences Among Large German and Austrian Banks

Explaining Efficiency Differences Among Large German and Austrian Banks »

Volume/Issue: 2004/140

Series: IMF Working Papers

Author(s): David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2004

DOI: http://dx.doi.org/10.5089/9781451856156.001

ISBN: 9781451856156

Keywords: efficiency, data envelopment analysis, banking, statistics, linear programming, banking systems,

Cost-efficiency, scale efficiency, and productivity change are estimated by data envelopment analysis; and cost-efficiency is regressed on explanatory variables. No evidence is found for average productivity respon...

Austria
			: Staff Report for the 2003 Article IV Consultation

Austria : Staff Report for the 2003 Article IV Consultation »

Volume/Issue: 2003/372

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2003

DOI: http://dx.doi.org/10.5089/9781451802290.002

ISBN: 9781451802290

Keywords: debt, deficit, pension reform, budget, interest

The Austrian economy performed well, but long-term problems were unaddressed. Austria has weathered the slump well. The government's economic policy priorities and recent achievements have been commendable. Tax ref...

Ocultándose en las Sombras
			:  El crecimiento de la economía subterránea

Ocultándose en las Sombras : El crecimiento de la economía subterránea »

Series: Economic Issues

Author(s): Dominik Enste , and Friedrich Schneider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2003

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589061521.051

ISBN: 9781589061521

Examina el papel de la economía sumergida, o economía subterránea. Analiza la forma de medirla, la relación entre la economía sumergida y la economía formal, las razones por las cuales está creciendo en tamaño, y s...

Population Aging and Long-Term Fiscal Sustainability in Austria

Population Aging and Long-Term Fiscal Sustainability in Austria »

Volume/Issue: 2002/216

Series: IMF Working Papers

Author(s): Leif Eskesen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

DOI: http://dx.doi.org/10.5089/9781451875096.001

ISBN: 9781451875096

Keywords: Population Aging, Public Finance Sustainability, pension, retirement, long-term care, public finances, Macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook, Structure And Scope Of Government

Austria faces significant population aging. This will increase public spending on pensions, health care, and long-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden f...

Austria
			: Staff Report for the 2002 Article IV Consultation

Austria : Staff Report for the 2002 Article IV Consultation »

Volume/Issue: 2002/184

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 2002

DOI: http://dx.doi.org/10.5089/9781451802337.002

ISBN: 9781451802337

Keywords: deficit, article, financial sector, budget, revenues

This 2002 Article IV Consultation highlights that after decelerating sharply in 2001, economic growth in Austria is projected to strengthen gradually during 2002, parallel to the expected improvement in the global...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2002/183

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 2002

DOI: http://dx.doi.org/10.5089/9781451802283.002

ISBN: 9781451802283

Keywords: debt, long-term care, public finances, debt ratio, pension spending

This Selected Issues paper for Austria looks at the fiscal burden facing Austria owing to aging, and the policy steps necessary to address it. It gives a short description of the Austrian pension, health care, and...

Wage Centralization, Union Bargaining, and Macroeconomic Performance

Wage Centralization, Union Bargaining, and Macroeconomic Performance »

Volume/Issue: 2002/143

Series: IMF Working Papers

Author(s): James McHugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2002

DOI: http://dx.doi.org/10.5089/9781451856354.001

ISBN: 9781451856354

Keywords: wage centralization, wage, aggregate demand, monetary policy, Trade Unions: Objectives, Structure, and Effects, Central Banking, and the Supply of Money and Credit: General,

This paper addresses two questions. First, under what circumstances will a centralized wage-bargaining system offer higher output and employment than a decentralized system? Second, what is the relationship between...

Hiding in the Shadows
			: The Growth of the Underground Economy

Hiding in the Shadows : The Growth of the Underground Economy »

Series: Economic Issues

Author(s): Dominik Enste , and Friedrich Schneider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2002

DOI: http://dx.doi.org/10.5089/9781589060968.051

ISBN: 9781589060968

Keywords: tax rates, labor force, taxation, tax revenues, tax evasion

Examines the role of the shadow, or underground, economy. Looks at ways of measuring it, the relationship between the shadow economy and the main stream economy, why it has been growing in size, and its effects on...

Austria
			: Staff Report for the 2001 Article IV Consultation

Austria : Staff Report for the 2001 Article IV Consultation »

Volume/Issue: 2001/86

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2001

DOI: http://dx.doi.org/10.5089/9781451802276.002

ISBN: 9781451802276

Keywords: deficit, article, interest, public sector, budget

Growth in the Austrian economy decelerated in mid-2000 in tandem with weaker activity in Europe after a vigorous expansion. Privatization of state holdings in commercial enterprises has continued, and liberalizatio...

The Impact of the EMUon the Structure of European Equity Returns
			: An Empirical Analysis of the First 21 Months

The Impact of the EMUon the Structure of European Equity Returns : An Empirical Analysis of the First 21 Months »

Volume/Issue: 2001/84

Series: IMF Working Papers

Author(s): Thomas Kraus

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2001

DOI: http://dx.doi.org/10.5089/9781451850642.001

ISBN: 9781451850642

Keywords: EMU, correlations, industry sectors, factor models, correlation, stock markets, stock market, International Monetary Arrangements and Institutions, Financial Aspects of Economic Integration,

Using symmetric data sets of 92 weekly return observations before and after the introduction of the euro, the paper analyzes the impact of the new currency on the return structure of equity markets in the European...

Austria
			: Selected Issues and Statistical Appendix

Austria : Selected Issues and Statistical Appendix »

Volume/Issue: 2000/124

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2000

DOI: http://dx.doi.org/10.5089/9781451802320.002

ISBN: 9781451802320

Keywords: interest, savings banks, banking sector, financial system, balance sheet

The study describes key features of the Austrian financial system, analyzes current trends in Austrian banking, and discusses appropriate regulatory responses to the changing financial environment. In this paper, t...

Austria
			: Staff Report for the 2000 Article IV Consultation

Austria : Staff Report for the 2000 Article IV Consultation »

Volume/Issue: 2000/95

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 August 2000

DOI: http://dx.doi.org/10.5089/9781451802269.002

ISBN: 9781451802269

Keywords: deficit, interest, article, debt, budget

The Austrian economy has been growing at an annual rate in excess of 3percent since mid-1999. Experience with deregulation in the telecommunications and electricity sectors is encouraged. With strong economic growt...

Austria
			: Selected Issues

Austria : Selected Issues »

Volume/Issue: 2000/149

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2000

DOI: http://dx.doi.org/10.5089/9781451802023.002

ISBN: 9781451802023

Keywords: banking, banking sector, savings bank, joint stock, banking system

The paper describes key features of the Austrian financial system, analyzes current trends in Austrian banking, and discusses appropriate regulatory responses to the changing financial environment. The paper review...

IMF Survey
			: Volume 29, Issue 22

IMF Survey : Volume 29, Issue 22 »

Volume/Issue: 29/22

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2000

DOI: http://dx.doi.org/10.5089/9781451925647.023

ISBN: 9781451925647

Keywords: transition countries, transition economies, current account, current account deficits, external debt

Following are edited excerpts from IMF Managing Director Horst Köhler’s remarks, as prepared for delivery at the conference “Completing Transition: The Main Challenges,” held in Vienna,...