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Luxembourg
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg

Luxembourg : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg »

Volume/Issue: 2019/130

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2019

DOI: http://dx.doi.org/10.5089/9781498314510.002

ISBN: 9781498314510

Keywords: External sector, Fiscal policy, Unemployment, Development, Public investments, article IV consultation, euro area, percent of GDP, percent change, investment fund

The growth outlook remains favorable, but risks are tilted to the downside. Sound economic and fiscal policies together with favorable global conditions in recent years translated into solid growth and a decline in...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2019/131

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2019

DOI: http://dx.doi.org/10.5089/9781498314589.002

ISBN: 9781498314589

Keywords: Social security, Pension reforms, Government expenditures, Labor taxes, Real wages, contribution rate, pension system, pension reform, euro area average, retirement age

Selected Issues...

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...

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

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

Volume/Issue: 2018/96

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2018

DOI: http://dx.doi.org/10.5089/9781484349960.002

ISBN: 9781484349960

Keywords: Luxembourg, Europe

Luxembourg's growth outlook remains favorable, as the ongoing global recovery boosts near-term activity. Economic, fiscal and financial sector policies are generally sound and unemployment is on a declining path. R...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2018/97

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2018

DOI: http://dx.doi.org/10.5089/9781484350041.002

ISBN: 9781484350041

Keywords: Europe, Luxembourg

Selected Issues...

Luxembourg: Financial Sector Assessment Program
			: Detailed Assessment of Observance-Assessment of Observance of the CPSS-IOSCO Principles for Financial Market Infrastructures: Clearstream Banking Luxembourg

Luxembourg: Financial Sector Assessment Program : Detailed Assessment of Observance-Assessment of Observance of the CPSS-IOSCO Principles for Financial Market Infrastructures: Clearstream Banking Luxembourg »

Volume/Issue: 2017/260

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2017

DOI: http://dx.doi.org/10.5089/9781484316825.002

ISBN: 9781484316825

Keywords: Europe, Luxembourg

Clearstream Banking Luxembourg (CBL) is a large securities settlement system that is highly interconnected with global securities markets and as such considered to be systemically important. The average daily settl...

Luxembourg: Financial Sector Assessment Program:
			: Technical Note-Anti-Money Laundering And Combatting The Financing of Terrorism

Luxembourg: Financial Sector Assessment Program: : Technical Note-Anti-Money Laundering And Combatting The Financing of Terrorism »

Volume/Issue: 2017/255

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2017

DOI: http://dx.doi.org/10.5089/9781484316740.002

ISBN: 9781484316740

Keywords: Luxembourg, Europe

This technical note (TN) sets out the findings and recommendations made in the 2017 Financial Sector Assessment Program (FSAP) Update for Luxembourg in a few selected areas of Anti-Money Laundering and Combating th...

Luxembourg: Financial Sector Assessment Program
			: Technical Note-Fund Management: Regulation, Supervision, and Systemic Risk Monitoring

Luxembourg: Financial Sector Assessment Program : Technical Note-Fund Management: Regulation, Supervision, and Systemic Risk Monitoring »

Volume/Issue: 2017/257

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2017

DOI: http://dx.doi.org/10.5089/9781484316771.002

ISBN: 9781484316771

Keywords: Europe, Luxembourg

Luxembourg has an internationally significant fund management sector, to which it applies a strong and comprehensive regulatory framework. The industry is the largest in Europe by domiciled assets, and the second l...

Luxembourg: Financial Sector Assessment Program:
			: Technical Note-Macroprudential Framework And Policies

Luxembourg: Financial Sector Assessment Program: : Technical Note-Macroprudential Framework And Policies »

Volume/Issue: 2017/256

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2017

DOI: http://dx.doi.org/10.5089/9781484316764.002

ISBN: 9781484316764

Keywords: Europe, Luxembourg

Luxembourg has a large financial system which contributes a significant share of GDP and is globally interconnected. The investment fund industry, which is central to the business model of large depositary banks in...

Luxembourg: Financial Sector Assessment Program
			: Technical Note-Managing Problem Banks and Systemic Banking Crises

Luxembourg: Financial Sector Assessment Program : Technical Note-Managing Problem Banks and Systemic Banking Crises »

Volume/Issue: 2017/259

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2017

DOI: http://dx.doi.org/10.5089/9781484316818.002

ISBN: 9781484316818

Keywords: Europe, Luxembourg

The landscape for managing problem banks in Luxembourg has changed fundamentally in recent years. As part of the euro area, Luxembourg is now part of a 'Banking Union' (BU) where the European Central Bank (ECB) has...

Luxembourg: Financial Sector Assessment Program
			: Technical Note-Risk Analysis

Luxembourg: Financial Sector Assessment Program : Technical Note-Risk Analysis »

Volume/Issue: 2017/261

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2017

DOI: http://dx.doi.org/10.5089/9781484316832.002

ISBN: 9781484316832

Keywords: Luxembourg, Europe

Financial soundness indicators for Luxembourg's financial system, which plays a key role in the intermediation of financial capital, have remained relatively robust in recent years. Rising asset prices and inflows...

Luxembourg: Financial Sector Assessment Program
			: Technical Note-Selected Issues in Banking Supervision

Luxembourg: Financial Sector Assessment Program : Technical Note-Selected Issues in Banking Supervision »

Volume/Issue: 2017/258

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2017

DOI: http://dx.doi.org/10.5089/9781484316801.002

ISBN: 9781484316801

Keywords: Luxembourg, Europe

This review examines aspects of the banking supervision regime in Luxembourg having due regard to the establishment of the SSM.1 In addition to updating the findings of the previous FSAP of 2011, it concentrates on...

Luxembourg
			: Financial System Stability Assessment

Luxembourg : Financial System Stability Assessment »

Volume/Issue: 2017/122

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 2017

DOI: http://dx.doi.org/10.5089/9781484300374.002

ISBN: 9781484300374

This paper evaluates the stability of the financial system of Luxembourg. Financial soundness indicators for Luxembourg's financial system, which plays a key role in the intermediation of financial capital, have re...

Luxembourg
			: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg

Luxembourg : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg »

Volume/Issue: 2017/113

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2017

DOI: http://dx.doi.org/10.5089/9781475599473.002

ISBN: 9781475599473

Keywords: Europe, Luxembourg

This 2017 Article IV Consultation highlights Luxembourg's strong growth supported by the competitive advantages of fiscal stability, a qualified workforce, and business-friendly regulations and oversight. Economic...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2017/114

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2017

DOI: http://dx.doi.org/10.5089/9781475599480.002

ISBN: 9781475599480

Keywords: Luxembourg, Europe

This Selected Issues paper studies diversification in Luxembourg's economy and the role of the government. The economy of Luxembourg appears to be more concentrated than that of comparable countries. Sectoral outpu...

Introducing an Advance Tax Ruling (ATR) Regime

Introducing an Advance Tax Ruling (ATR) Regime »

Volume: 1

Series: Tax Law Technical Note

Author(s): Christophe Waerzeggers , and Cory Hillier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 May 2016

DOI: http://dx.doi.org/10.5089/9781513511610.008

ISBN: 9781513511610

Keywords: United Kingdom, United States, Western Hemisphere, Netherlands, South Africa, Sub-Saharan Africa, Taxation, Asia and Pacific, Australia, Europe

Advance tax rulings are a common feature of mature tax systems. The tax systems of the United States, the United Kingdom, the Netherlands, Germany, Australia, and South Africa all have established ruling practices....

Luxembourg
			: 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Luxembourg

Luxembourg : 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Luxembourg »

Volume/Issue: 2016/118

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2016

DOI: http://dx.doi.org/10.5089/9781484349113.002

ISBN: 9781484349113

Keywords: market, investment, monetary fund, inflation, financial system

This paper discusses growth prospects and downside risks of Luxembourg's economy. Luxembourg's small open economy plays a pivotal role in intermediating global capital flows. Deep-rooted traditions of fiscal pruden...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2016/119

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2016

DOI: http://dx.doi.org/10.5089/9781484349984.002

ISBN: 9781484349984

Keywords: investment, investment funds, assets, investment fund, asset

This paper studies the two vital issues of Luxembourg's economy: investment IMF-World Bank linkages and lessons and challenges in accommodating migrants and refugees. The Luxembourg investment fund industry, second...

Unlocking Female Employment Potential in Europe
			: Drivers and Benefits

Unlocking Female Employment Potential in Europe : Drivers and Benefits »

Volume: 16

Series: Departmental Papers / Policy Papers

Author(s): Lone Engbo Christiansen , Huidan Lin , Joana Pereira , Petia Topalova , and Rima Turk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2016

DOI: http://dx.doi.org/10.5089/9781513562513.087

ISBN: 9781513562513

Keywords: Corporate governance, Gender equality, Labor force participation, Labor force policy, Output growth, women, labor force, gender, participation, labor

With an aging population and declining productivity growth, Europe faces serious challenges to raising its output growth. Adding to these challenges are the various gender gaps in the labor market. Despite signific...

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...

Capital Account Liberalization and Inequality

Capital Account Liberalization and Inequality »

Volume/Issue: 2015/243

Series: IMF Working Papers

Author(s): Davide Furceri , and Prakash Loungani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2015

DOI: http://dx.doi.org/10.5089/9781513531083.001

ISBN: 9781513531083

Keywords: Inequality, Capital Account Openness, Crises, Institutions, capital account, liberalization, capital account liberalization, standard deviations, Macroeconomic Analyses of Economic Development, All Countries

This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequ...

IEO Annual Report 2015

IEO Annual Report 2015 »

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2015

DOI: http://dx.doi.org/10.5089/9781513536293.017

ISBN: 9781513536293

Keywords: imf, evaluation, budget, monitoring, capital flows

IEO Annual Report 2015...

Luxembourg
			: Staff Report for the 2015 Article IV Consultation

Luxembourg : Staff Report for the 2015 Article IV Consultation »

Volume/Issue: 2015/144

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2015

DOI: http://dx.doi.org/10.5089/9781513530802.002

ISBN: 9781513530802

Keywords: tax, monetary fund, debt, investment, transparency

This 2015 Article IV Consultation highlights that Luxembourg's economic model, emphasizing fiscal stability, openness, firm prudential oversight, and responsiveness to investor needs, is delivering strong growth. B...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2015/145

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2015

DOI: http://dx.doi.org/10.5089/9781513546056.002

ISBN: 9781513546056

Keywords: tax, revenues, revenue, monetary fund, tax system

This Selected Issues paper considers features of the Luxembourg tax system that may be susceptible to changes in international tax transparency standards and surveys related policy options. Luxembourg's predictable...

Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe

Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe »

Volume/Issue: 2015/7

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Ali Al-Eyd , Bergljot Barkbu , and Andreas Jobst

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2015

DOI: http://dx.doi.org/10.5089/9781498397643.006

ISBN: 9781498397643

Keywords: Financial intermediation, Structured finance, macro-financial linkages, SME finance, market, finance, markets, investment, debt, Financial Markets and the Macroeconomy

Small and medium-sized enterprises (SMEs) account for a disproportionate share of output and employment in Europe but are still highly dependent on bank finance, which dried up or became prohibitively expensive dur...

Los regímenes de tipo de cambio y la estabilidad del sistema monetario internacional

Los regímenes de tipo de cambio y la estabilidad del sistema monetario internacional »

Series: Occasional Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498324076.084

ISBN: 9781498324076

Keywords: Exchange rate regimes, Financial stability, International monetary system, Reserve currencies, Reserves accumulation, Trade integration, tipo de cambio, régimen de tipo de cambio, tipos de cambio, tipo de cambio real

Los países miembros del Fondo Monetario Internacional colaboran para asegurar que los regímenes cambiarios funcionen ordenadamente y para fomentar la estabilidad del sistema cambiario, reconociendo que el objetivo...

Luxembourg
			: Staff Report for the 2014 Article IV Consultation

Luxembourg : Staff Report for the 2014 Article IV Consultation »

Volume/Issue: 2014/118

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

DOI: http://dx.doi.org/10.5089/9781475518528.002

ISBN: 9781475518528

Keywords: wage, benefits, wages, wage indexation

This 2014 Article IV Consultation highlights that with a strong policy framework, Luxembourg has weathered the crisis well and the economy is rebounding. The fiscal position remains sound, and the large financial s...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2014/119

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

DOI: http://dx.doi.org/10.5089/9781484378649.002

ISBN: 9781484378649

Keywords: benefits, wage, unemployment, employment, wages

This Selected Issues Paper analyzes the fiscal position and significant challenges for Luxembourg. Luxembourg's fiscal position is currently sound, however, fiscal safety buffers are being eroded. The country's hea...

Income Inequality, Fiscal Decentralization and Transfer Dependency

Income Inequality, Fiscal Decentralization and Transfer Dependency »

Volume/Issue: 2014/64

Series: IMF Working Papers

Author(s): Caroline-Antonia Goerl , and Mike Seiferling

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2014

DOI: http://dx.doi.org/10.5089/9781484354711.001

ISBN: 9781484354711

Keywords: transfer dependency, COFOG, decentralization, fiscal federalism, federalism, government expenditure, Personal Income and Wealth Distribution, Intergovernmental Relations,

Within the context of reigniting post crisis macroeconomic growth, income inequality has emerged as a topic of significant interest for both academics and policymakers (Bastagli, Coady, and Gupta, 2012) This study...

The Special Data Dissemination Standard
			: Guide for Subscribers and Users

The Special Data Dissemination Standard : Guide for Subscribers and Users »

Series: Manuals & Guides

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2013

DOI: http://dx.doi.org/10.5089/9781484303658.069

ISBN: 9781484303658

Keywords: sdds, metadata, external debt, reserve assets, balance of payments

The International Monetary Fund (IMF) launched the data standards initiatives to enhance member countries' data transparency and to promote their development of sound statistical systems. The need for data standard...

The Distributional Effects of Fiscal Consolidation

The Distributional Effects of Fiscal Consolidation »

Volume/Issue: 2013/151

Series: IMF Working Papers

Author(s): Laurence Ball , Davide Furceri , Daniel Leigh , and Prakash Loungani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2013

DOI: http://dx.doi.org/10.5089/9781475551945.001

ISBN: 9781475551945

Keywords: distributional effects, fiscal consolidation episodes, fiscal consolidations, fiscal adjustments, public debt, Equity, Justice, Inequality, and Other Normative Criteria and Measurement,

This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal consolidation h...

The Anatomy of the VAT

The Anatomy of the VAT »

Volume/Issue: 2013/111

Series: IMF Working Papers

Author(s): Michael Keen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2013

DOI: http://dx.doi.org/10.5089/9781484330586.001

ISBN: 9781484330586

Keywords: tax gaps, vat revenue, consumption tax, tax administration, tax journal, national tax journal, Business Taxes and Subsidies,

This paper sets out some tools for understanding the performance of the value added tax (VAT). Applying a decomposition of VAT revenues (as a share of GDP) to the universe of VATs over the last twenty years, it eme...

European Union
			: Financial Sector Stability Assessment

European Union : Financial Sector Stability Assessment »

Volume/Issue: 2013/75

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/10.5089/9781475585971.002

ISBN: 9781475585971

Keywords: banking, recapitalization, banking system, banking sector, level playing field

The recent financial crises have underscored the need for the European Union (EU) to take a regional approach to financial stability. Preserving financial stability in such an environment requires a supranational o...

European Union
			: Publication of Financial Sector Assessment Program Documentation-Technical Note on Cross-Border Issues, Central Counterparties, and Central Securities Depositories

European Union : Publication of Financial Sector Assessment Program Documentation-Technical Note on Cross-Border Issues, Central Counterparties, and Central Securities Depositories »

Volume/Issue: 2013/72

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/10.5089/9781475548679.002

ISBN: 9781475548679

Keywords: regulation, technical standards, regulations, legislation, international standards

The analysis focuses on the effectiveness of the regulatory, supervisory, and oversight frameworks for central counterparties (CCPs) and central securities depositories (CSDs) in the European Union (EU) as these ar...

A Banking Union for the Euro Area

A Banking Union for the Euro Area »

Volume/Issue: 2013/1

Series: Staff Discussion Notes

Author(s): Rishi Goyal , Petya Koeva Brooks , Mahmood Pradhan , Thierry Tressel , Giovanni Dell'Ariccia , and Ceyla Pazarbasioglu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2013

DOI: http://dx.doi.org/10.5089/9781475521160.006

ISBN: 9781475521160

Keywords: Austria, Bank regulations, Bank resolution, Bank supervision, Belgium, Banking systems, Deposit insurance, Euro Area, Europe, Financial safety nets

The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult...

Some Algebra of Fiscal Transparency
			: How Accounting Devices Work and How to Reveal Them

Some Algebra of Fiscal Transparency : How Accounting Devices Work and How to Reveal Them »

Volume/Issue: 2012/228

Series: IMF Working Papers

Author(s): Timothy Irwin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2012

DOI: http://dx.doi.org/10.5089/9781475510577.001

ISBN: 9781475510577

Keywords: accounting devices, accrual accounting, cash accounting, government finance, full accrual accounting, government finance statistics, National Budget, Deficit, and Debt: General,

Accounting devices that artificially reduce the measured fiscal deficit can be analyzed as transactions involving unrecognized assets and liabilities. Different accounting systems recognize different sets of assets...

Luxembourg
			: Staff Report for the 2012 Article IV Consultation

Luxembourg : Staff Report for the 2012 Article IV Consultation »

Volume/Issue: 2012/160

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2012

DOI: http://dx.doi.org/10.5089/9781475504835.002

ISBN: 9781475504835

Keywords: pension, retirement, retirement age, pension system, old-age pension

This 2012 Article IV Consultation highlights that economic growth in Luxembourg slowed in 2011 amid the euro area sovereign debt crisis. Reflecting sluggish external demand, economic activity is expected to further...

Statuts du Fonds Monétaire International

Statuts du Fonds Monétaire International »

Series: Articles of Agreement

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2012

Language: French

DOI: http://dx.doi.org/10.5089/9781616352578.013

ISBN: 9781616352578

Keywords: voting, general resources account, voting power, election, balance of payments, gold, voting rights, exchange arrangements, repurchases, reserve assets

Last issued in 1992, this new release of the IMF's Articles of Agreement for 2011 includes changes to the Articles resulting from the adoption of the Fourth Amendment on August 10, 2009, as well as the Fifth and Si...

Luxembourg
			: Financial System Stability Assessment:  Update

Luxembourg : Financial System Stability Assessment: Update »

Volume/Issue: 2011/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2011

DOI: http://dx.doi.org/10.5089/9781455288656.002

ISBN: 9781455288656

Keywords: banking, banking sector, settlement systems, iosco principles, risk management

Luxembourg hosts a large international financial center that plays a pivotal role in its economy and in European financial markets. The crisis exposed significant vulnerabilities in Luxembourg's financial system, o...

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

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

Volume/Issue: 2011/108

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 2011

DOI: http://dx.doi.org/10.5089/9781455288649.002

ISBN: 9781455288649

Keywords: service exports, pension, reer, export volume, export unit

An externally driven economic recovery has continued gathering strength in 2010 in Luxembourg. Executive Directors welcomed this development and the authorities' supportive fiscal policy in 2010 as well as their ro...

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

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

Volume/Issue: 2010/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 June 2010

DOI: http://dx.doi.org/10.5089/9781455207268.002

ISBN: 9781455207268

Keywords: financial sector, article, financial system, budget, debt

The staff report for the 2010 Article IV Consultation underlies a thorough and objective view of the macroeconomic situation in Luxembourg and the challenges the economy is facing. The country's enviable position o...

Handbook on Securities Statistics
			: Debt Securities Issues

Handbook on Securities Statistics : Debt Securities Issues »

Series: Web Based Statistical Publications

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2009

DOI: http://dx.doi.org/10.5089/9781475510102.037

ISBN: 9781475510102

Keywords: debt securities, bond, securities issues, equity securities, financial corporations

Several high-level international groups urged development of methodological standards for securities statistics. In response, the Bank for International Settlements (BIS), the European Central Bank (ECB), and the I...

The Need for Special Resolution Regimes for Financial Institutions-The Case of the European Union

The Need for Special Resolution Regimes for Financial Institutions-The Case of the European Union »

Volume/Issue: 2009/200

Series: IMF Working Papers

Author(s): Martin Cihak , and Erlend Nier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

DOI: http://dx.doi.org/10.5089/9781451873474.001

ISBN: 9781451873474

Keywords: Resolution Regime, banking, deposit insurance, moral hazard, Financial Institutions and Services: Government Policy and Regulation,

The global financial crisis has demonstrated weaknesses in resolution regimes for financial institutions around the globe, including in the European Union (EU). This paper considers the principles underlying resolu...

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

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

Volume/Issue: 2009/178

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 June 2009

DOI: http://dx.doi.org/10.5089/9781451824384.002

ISBN: 9781451824384

Keywords: revenues, budget, financial stability, article, Article IV consultat,

The adverse impact of the crisis on Luxembourg's growth outlook is partly mitigated by the authorities' well-conceived fiscal policy response. The staff report for Luxembourg's 2009 Article IV Consultation highligh...

Cross-Border Coordination of Prudential Supervision and Deposit Guarantees

Cross-Border Coordination of Prudential Supervision and Deposit Guarantees »

Volume/Issue: 2008/283

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871418.001

ISBN: 9781451871418

Keywords: Deposit guarantees, cross-border coordination, EU, banking, deposit guarantee, prudential supervision,

The scramble to expand deposit guarantees in Europe in response to recent financial turmoil confirms that the on-going integration of European financial markets requires closer coordination of prudential policies a...

Rising Income Inequality
			: Technology, or Trade and Financial Globalization?

Rising Income Inequality : Technology, or Trade and Financial Globalization? »

Volume/Issue: 2008/185

Series: IMF Working Papers

Author(s): Chris Papageorgiou , Subir Lall , and Florence Jaumotte

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

DOI: http://dx.doi.org/10.5089/9781451870435.001

ISBN: 9781451870435

Keywords: mechanisms, trade globalization, financial globalization, technological progress, FDI., tariff rate, trade liberalization, FDI,

We examine the relationship between trade and financial globalization and the rise in inequality in most countries in recent decades. We find technological progress as having a greater impact than globalization on...

Sistema General de Divulgación de Datos
			: Guía Para los Participantes y Usuarios

Sistema General de Divulgación de Datos : Guía Para los Participantes y Usuarios »

Series: Manuals & Guides

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2008

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589066311.069

ISBN: 9781589066311

La labor que dedica el FMI a las normas sobre divulgación de datos abarca dos niveles: el Sistema General de Divulgación de Datos (SGDD), que se aplica a todos los países miembros del FMI, y las Normas Especiales p...

Normas Especiales para la Divulgación de Datos
			: Guía para Suscriptores y Usuarios, 2007

Normas Especiales para la Divulgación de Datos : Guía para Suscriptores y Usuarios, 2007 »

Series: Manuals & Guides

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 March 2008

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589065574.069

ISBN: 9781589065574

Las Normas Especiales para la Divulgación de Datos (NEDD) fueron establecidas por el FMI en 1996 con el objeto de orientar a los países que ya tienen acceso o procuran obtener acceso a los mercados internacionales...

Système général de diffusion des données
			: Guide à l'intention des participants et des utilisateurs

Système général de diffusion des données : Guide à l'intention des participants et des utilisateurs »

Series: Manuals & Guides

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 March 2008

Language: French

DOI: http://dx.doi.org/10.5089/9781589066304.069

ISBN: 9781589066304

Keywords: statistiques, métadonnées, comptes nationaux, site web, enquêtes, enquête, dette extérieure, sources de données, jeux de données, cadre analytique

Les travaux du FMI sur les normes de diffusion des données se font à deux niveaux : le système général de diffusion des données (SGDD), pour tous les pays membres, et la norme spéciale de diffusion des données (NSD...

La norme spéciale de diffusion des données
			: Guide à l'intention des souscripteurs et utilisateurs

La norme spéciale de diffusion des données : Guide à l'intention des souscripteurs et utilisateurs »

Series: Manuals & Guides

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 March 2008

Language: French

DOI: http://dx.doi.org/10.5089/9781589065567.069

ISBN: 9781589065567

Keywords: NSDD, métadonnées, site web, hyperliens, monnaie étrangère, internet, avoirs de réserve, sociétés financières, sources de données, dette extérieure

La norme spéciale de diffusion des données (NSDD) a été créée en 1996 par le FMI pour aider les pays membres - qui ont ou pourraient chercher à avoir accès aux marchés internationaux de capitaux - à communiquer des...

El sistema de estadísticas de las cuentas macroeconómicas
			:  Panorama general

El sistema de estadísticas de las cuentas macroeconómicas : Panorama general »

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 2008

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589066229.054

ISBN: 9781589066229

Este folleto, diseñado para atender necesidades básicas de economistas y estadísticos, es único en cuanto proporciona una explicación de los principios fundamentales en que se basan las estadísticas macroeconómicas...

Perspectives économiques régionales
			: Europe Renforcer les systèmes financiers, Novembro 2007

Perspectives économiques régionales : Europe Renforcer les systèmes financiers, Novembro 2007 »

Series: Regional Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2007

Language: French

DOI: http://dx.doi.org/10.5089/9781589066984.086

ISBN: 9781589066984

Keywords: government securities, financial system, securities market, capital markets, financial institutions, capital inflows, government securities market, financial innovation, financial market, financial intermediation

Strong fundamentals should allow Europe to weather financial turbulence relatively well. Nonetheless, growth is set to ease in 2008 in nearly all countries. Policymakers will need to deal up front with the financia...

Integrating Europe's Financial Markets

Integrating Europe's Financial Markets »

Series: Books

Author(s): Jörg Decressin , Wim Fonteyne , and Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 September 2007

DOI: http://dx.doi.org/10.5089/9781589066236.071

ISBN: 9781589066236

Keywords: financial markets, financial institutions, financial services

By and large, EU financial integration has been a success story. Still, the reform agenda is far from finished. What are the remaining challenges? What are the gains of closer financial market integration? This IMF...

Banking Competition and Capital Ratios

Banking Competition and Capital Ratios »

Volume/Issue: 2007/216

Series: IMF Working Papers

Author(s): Martin Cihak , and Klaus Schaeck

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2007

DOI: http://dx.doi.org/10.5089/9781451867800.001

ISBN: 9781451867800

Keywords: Bank capital ratios, market structure, regulation, banking, statistic, statistics, bank capital, deposit insurance,

We use data for more than 2,600 European banks to test whether increased competition causes banks to hold higher capital ratios. Employing panel data techniques, and distinguishing between the competitive conduct o...

The System of Macroeconomic Accounts Statistics
			: An Overview

The System of Macroeconomic Accounts Statistics : An Overview »

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 August 2007

DOI: http://dx.doi.org/10.5089/9781589066205.054

ISBN: 9781589066205

Keywords: Balance of payments statistics, National accounts, Government finance statistics, statistics, liabilities, payments, debt, balance of payments

Designed to meet the basic needs of economists and statisticians, this pamphlet is unique in providing an explanation of the key principles underlying macroeconomic statistics when viewed as an integrated system. I...

The General Data Dissemination System
			: Guide for Participants and Users

The General Data Dissemination System : Guide for Participants and Users »

Series: Manuals & Guides

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2007

DOI: http://dx.doi.org/10.5089/9781589064171.069

ISBN: 9781589064171

Keywords: statistics, metadata, national accounts, website, surveys

The IMF's work on data dissemination standards consists of two tiers: the General Data Dissemination System (GDDS), which applies to all IMF member countries, and the Special Data Dissemination Standard (SDDS), for...

The Special Data Dissemination Standard
			: Guide for Subscribers and Users

The Special Data Dissemination Standard : Guide for Subscribers and Users »

Series: Manuals & Guides

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2007

DOI: http://dx.doi.org/10.5089/9781589065550.069

ISBN: 9781589065550

Keywords: sdds, metadata, website, hyperlinks, foreign currency

The Special Data Dissemination Standard (SDDS) was established by the IMF in 1996 to guide members that already had, or that might seek, access to international capital markets in providing key economic and financi...

The Discipline-Enhancing Role of Fiscal Institutions
			: Theory and Empirical Evidence

The Discipline-Enhancing Role of Fiscal Institutions : Theory and Empirical Evidence »

Volume/Issue: 2007/171

Series: IMF Working Papers

Author(s): Xavier Debrun , and Manmohan Kumar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867350.001

ISBN: 9781451867350

Keywords: Deficit bias, credibility, accountability, voters, fiscal institutions, fiscal rule, Accountablility,

This paper discusses the role of fiscal institutions, including budget rules and non-partisan agencies, in enhancing fiscal discipline. A dynamic model of fiscal policy shows that optimal institutions lack credibil...

Indicadores de solidez financiera
			: Guía de Compilación

Indicadores de solidez financiera : Guía de Compilación »

Series: Manuals & Guides

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2007

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589063983.069

ISBN: 9781589063983

Los indicadores de solidez financiera (ISF) son medidas que muestran la salud financiera actual y la solidez de las instituciones financieras de un país, y de las empresas y hogares que son su contraparte. Los ISF...

International Finance and Income Convergence
			: Europe is Different

International Finance and Income Convergence : Europe is Different »

Volume/Issue: 2007/64

Series: IMF Working Papers

Author(s): Daniel Leigh , Abdul Abiad , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

DOI: http://dx.doi.org/10.5089/9781451866285.001

ISBN: 9781451866285

Keywords: growth, convergence, current account, current account deficit, current account balance, current accounts, Economic Growth of Open Economies, Financial Aspects of Economic Integration,

Recent studies conclude that the ongoing global financial integration may have had little or no value in advancing economic growth, especially in poor countries. Capital is often found to flow "uphill" from poor to...

Expenditure Composition and Distortionary Tax for Equitable Economic Growth

Expenditure Composition and Distortionary Tax for Equitable Economic Growth »

Volume/Issue: 2006/165

Series: IMF Working Papers

Author(s): Hyun Park

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

DOI: http://dx.doi.org/10.5089/9781451864250.001

ISBN: 9781451864250

Keywords: allocative and redistributive policy, endogeneity, government spending, expenditure, tax rates, government expenditure, National Government Expenditures and Related Policies: General, Economic Growth and Aggregate Productivity: General,

This paper continues the study of optimal fiscal policy in a growing economy by exploring a case in which the government simultaneously provides three main categories of expenditures with distortionary tax finance:...

Luxembourg
			: Staff Report for the 2006 Article IV Consultation

Luxembourg : Staff Report for the 2006 Article IV Consultation »

Volume/Issue: 2006/164

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2006

DOI: http://dx.doi.org/10.5089/9781451824360.002

ISBN: 9781451824360

Keywords: interest, debt, article, deficit

Luxembourg's 2006 Article IV Consultation reports that the dominant financial sector has supported a steady rebound in economic activity. Growth is projected to remain healthy in the near term, but trend growth may...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2006/165

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2006

DOI: http://dx.doi.org/10.5089/9781451824377.002

ISBN: 9781451824377

Keywords: pension, pension fund, pension system, labor force

This Selected Issues paper on Luxembourg reports that exemplary high growth rates and prudent fiscal policies provided the financial basis for the welfare system. Social expenditures in per capita terms, even adjus...

Luxembourg
			: Detailed Assessment of Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Luxembourg : Detailed Assessment of Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism »

Volume/Issue: 2004/400

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 December 2004

DOI: http://dx.doi.org/10.5089/9781451824353.002

ISBN: 9781451824353

Keywords: money laundering, terrorism, law enforcement, financing of terrorism, international cooperation

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

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

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

Volume/Issue: 2004/399

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 December 2004

DOI: http://dx.doi.org/10.5089/9781451824346.002

ISBN: 9781451824346

Keywords: money laundering, terrorism, financing of terrorism, law enforcement, international cooperation

This report on the Observance of Standards and Codes reviews Luxembourg's observance of the Financial Action Task Force (FATF) 40 Recommendations for Anti-Money Laundering and eight Special Recommendations on Comba...

The Relationship Between Macroeconomic Statistics Guidelines and Accounting Standards

The Relationship Between Macroeconomic Statistics Guidelines and Accounting Standards »

Volume/Issue: 2004/233

Series: IMF Working Papers

Author(s): Lucie Laliberté

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2004

DOI: http://dx.doi.org/10.5089/9781451875621.001

ISBN: 9781451875621

Keywords: Macroeconomics, accounting, relation of economics to other disciplines, statistics, accounting standards, equation, national accounting, Economic Methodology: General, Econometric and Statistical Methods: General, Macroeconomics and Monetary Economics: General,

This paper aims to promote harmonization between macroeconomic statistics guidelines and accounting standards. It first highlights recent development that act as drivers to the harmonization of the two systems. It...

Fiscal Adjustment in EU Countries
			: A Balance Sheet Approach

Fiscal Adjustment in EU Countries : A Balance Sheet Approach »

Volume/Issue: 2004/143

Series: IMF Working Papers

Author(s): Kenji Moriyama , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2004

DOI: http://dx.doi.org/10.5089/9781451856378.001

ISBN: 9781451856378

Keywords: government assets, net worth, public debt, budget balance, fiscal measures, National Deficit Surplus,

Several European Union countries have recently implemented or are envisaging fiscal that operations improve budgetary figures but have no structural impact on government finances. This paper evaluates some of these...

International Investment Patterns

International Investment Patterns »

Volume/Issue: 2004/134

Series: IMF Working Papers

Author(s): Philip Lane , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

DOI: http://dx.doi.org/10.5089/9781451855630.001

ISBN: 9781451855630

Keywords: International portfolio equity investment, gravity, stock market, equity investment, stock market capitalization, stock returns, foreign equity, International Lending and Debt Problems,

The paper provides a systematic analysis of bilateral, source and host factors driving portfolio equity investment across countries, using newly-released data on international equity holdings at the end of 2001. It...

Luxembourg
			: Staff Report for the 2004 Article IV Consultation

Luxembourg : Staff Report for the 2004 Article IV Consultation »

Volume/Issue: 2004/125

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 May 2004

DOI: http://dx.doi.org/10.5089/9781451824322.002

ISBN: 9781451824322

Keywords: debt, financial sector, public sector, article, deficit

This 2004 Article IV Consultation highlights that the Luxembourg authorities are adjusting policies to the growth slowdown, although major new initiatives are on hold in the run-up to the June 2004 general election...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 2004/124

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 May 2004

DOI: http://dx.doi.org/10.5089/9781451824278.002

ISBN: 9781451824278

Keywords: financial sector, labor productivity, output growth, business cycle, labor force

This Selected Issues paper studies Luxembourg's economic growth performance of the past two decades with a view to shedding light on the growth prospects and fiscal implications. The paper investigates whether the...

Foreign Direct Investment Statistics
			: How Countries Measure FDI 2001

Foreign Direct Investment Statistics : How Countries Measure FDI 2001 »

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 October 2003

DOI: http://dx.doi.org/10.5089/9781589062207.071

ISBN: 9781589062207

Keywords: direct investment, fdi, investors, international standards, investment income

International standards for measuring foreign direct investment (FDI) have become important in today's global economy, where multinational enterprises exercise economic clout and FDI statistics can reflect investor...

The Fiscal Smile
			: The Effectiveness and Limits of Fiscal Stabilizers

The Fiscal Smile : The Effectiveness and Limits of Fiscal Stabilizers »

Volume/Issue: 2003/182

Series: IMF Working Papers

Author(s): Maria Silgoner , Jesús Crespo-Cuaresma , and Gerhard Reitschuler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

DOI: http://dx.doi.org/10.5089/9781451859287.001

ISBN: 9781451859287

Keywords: Fiscal Stabilizers, Business Cycle Volatility, government expenditure, expenditure, expenditures,

We study the smoothing impact of fiscal stabilizers (proxied by government expenditures or revenues) on business cycle volatility for a panel of EU countries in the period 1970-99. The results show that the busines...

Changes in Inventories in the National Accounts

Changes in Inventories in the National Accounts »

Volume/Issue: 2003/120

Series: IMF Working Papers

Author(s): Segismundo Fassler , and Manik Shrestha

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2003

DOI: http://dx.doi.org/10.5089/9781451854299.001

ISBN: 9781451854299

Keywords: inventories, holding gains, inventory, accounting standards, international accounting standards, Econometric and Statistical Methods: Special Topics: General, Methodology for Collecting, Estimating, and Organizing Macroeconomic Data,

The principles underlying the recording of changes in inventories are explained in the System of National Accounts, 1993 (1993 SNA), but operational guidelines on their measurement are lacking. This paper elaborate...

Statistical Treatment of 'Build-Own-Operate-Transfer+L2306 Schemes

Statistical Treatment of 'Build-Own-Operate-Transfer+L2306 Schemes »

Volume/Issue: 2002/167

Series: IMF Working Papers

Author(s): Brian Donaghue

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

DOI: http://dx.doi.org/10.5089/9781451858198.001

ISBN: 9781451858198

Keywords: build-own-operate-transfer, BOOT, financial assets, national accounts, derivative, government revenue, capital expenditure, Structure And Scope Of Government, National Government Expenditures And Related Policies, National Budget

The paper argues that assets produced under build-own-operate-transfer (BOOT) schemes-under which public infrastructure assets are legally owned and operated for a defined period by the private corporation that con...

Luxembourg
			: Staff Report for the 2002 Article IV Consultation

Luxembourg : Staff Report for the 2002 Article IV Consultation »

Volume/Issue: 2002/118

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2002

DOI: http://dx.doi.org/10.5089/9781451824339.002

ISBN: 9781451824339

Keywords: financial sector, article, government budget, central bank, social security

The 2002 Article IV Consultation highlights that the financial sector of Luxembourg has continued to expand, with asset and liquidity management taking over from private banking as the main source of strong growth...

Luxembourg
			: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics:  Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems

Luxembourg : Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems »

Volume/Issue: 2002/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2002

DOI: http://dx.doi.org/10.5089/9781451824261.002

ISBN: 9781451824261

Keywords: life insurance, money laundering, insurance companies, supervisory authorities, reinsurance

This paper presents Luxembourg's Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regu...

Luxembourg
			: Selected Issues-Prospects of the Financial Sector-Tax Harmonization and Asset Market Valuation

Luxembourg : Selected Issues-Prospects of the Financial Sector-Tax Harmonization and Asset Market Valuation »

Volume/Issue: 2002/117

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2002

DOI: http://dx.doi.org/10.5089/9781451824315.002

ISBN: 9781451824315

Keywords: financial sector, banking, bank assets, stock market, banking sector

This Selected Issues paper presents a short history of the development of the financial sector of Luxembourg, highlighting the strong influence of tax and regulatory advantages for its past development. It describe...

Euro Area
			: Report on Observance of Standards and Codes Assessment of Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies-Monetary Policy and Payment System Oversight, and the CPSS Core Principles for Systemically Important Payment Systems (Target and the EURO1 Payment Systems)

Euro Area : Report on Observance of Standards and Codes Assessment of Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies-Monetary Policy and Payment System Oversight, and the CPSS Core Principles for Systemically Important Payment Systems (Target and the EURO1 Payment Systems) »

Volume/Issue: 2001/195

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2001

DOI: http://dx.doi.org/10.5089/9781451812923.002

ISBN: 9781451812923

Keywords: monetary policy, euro, payment system, financial policies, payment systems

The Euro system maintains a high level of transparency in all aspects of operations, demonstrating a strong institutional commitment to openness and a high degree of observance of the code. Greater consistency in t...

Bond Restructuring and Moral Hazard
			: Are Collective Action Clauses Costly?

Bond Restructuring and Moral Hazard : Are Collective Action Clauses Costly? »

Volume/Issue: 2001/92

Series: IMF Working Papers

Author(s): Torbjorn Becker , Anthony Richards , and Yunyong Thaicharoen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

DOI: http://dx.doi.org/10.5089/9781451851595.001

ISBN: 9781451851595

Keywords: Bond restructuring, contract design, law, bonds, bond, bondholders, International Lending and Debt Problems,

Many official groups have endorsed the wider use by emerging market borrowers of contract clauses which allow for a qualified majority of bondholders to restructure repayment terms in the event of financial distres...

Treatment of Mobile Phone Licences in the National Accounts

Treatment of Mobile Phone Licences in the National Accounts »

Volume/Issue: 2001/72

Series: IMF Working Papers

Author(s): Nils Mæhle , and Robert Dippelsman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

DOI: http://dx.doi.org/10.5089/9781451849349.001

ISBN: 9781451849349

Keywords: Government Financial Statistics, spectrum, recording, accounts payable, Methodology for Collecting, Estimating, and Organizing Macroeconomic Data, National Budget, Deficit, and Debt: General

The treatment of license payments in the national accounts has become increasingly important in recent years; with mobile phone licenses being auctioned for substantial values in several countries. Because the text...

IMF Survey, Volume 30, Issue 03

IMF Survey, Volume 30, Issue 03 »

Volume/Issue: 30/3

Series: IMF Survey

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

DOI: http://dx.doi.org/10.5089/9781451936230.023

ISBN: 9781451936230

Keywords: capital requirements, capital adequacy, capital adequacy ratio, banking supervision, basel accord

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 30, Issue 12

IMF Survey, Volume 30, Issue 12 »

Volume/Issue: 30/12

Series: IMF Survey

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

DOI: http://dx.doi.org/10.5089/9781451931082.023

ISBN: 9781451931082

Keywords: capital markets, international capital, international capital markets, international finance, international trade

On June 7, IMF Managing Director Horst Köhler announced the appointments of the new First Deputy Managing Director and three department heads. The full text of IMF Press Release No. 01/27 is available on the...

Luxembourg
			: Selected Issues and Statistical Appendix

Luxembourg : Selected Issues and Statistical Appendix »

Volume/Issue: 2000/67

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2000

DOI: http://dx.doi.org/10.5089/9781451824308.002

ISBN: 9781451824308

Keywords: labor market, financial sector, employment growth, international monetary fund, monetary union

Luxembourg's impressive growth performance has been accompanied by regional specialization of production, high labor mobility, export-propelled growth, and the dominance of regional growth fluctuations. Luxembourg'...

Luxembourg
			: Staff Report for the 2000 Article IV Consultation

Luxembourg : Staff Report for the 2000 Article IV Consultation »

Volume/Issue: 2000/65

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 2000

DOI: http://dx.doi.org/10.5089/9781451824254.002

ISBN: 9781451824254

Keywords: financial sector, article, financial assets, public sector, central bank

Luxembourg's economic and fiscal performance has remained impressive. A proactive policy approach focused on institutional reforms will bolster the economy and public finances to growth reversals. A shift to a more...

Economic Determinants of Government Subsidies

Economic Determinants of Government Subsidies »

Volume/Issue: 1998/166

Series: IMF Working Papers

Author(s): Benedict Clements , Hugo Rodríguez , and Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

DOI: http://dx.doi.org/10.5089/9781451979664.001

ISBN: 9781451979664

Keywords: government subsidies, government expenditures, subsidies, expenditures, expenditure, subsidy, government expenditure

The paper studies the economic determinants of government subsidies using panel data for 40 countries over 18 years (from 1975 to 1992) and finds that individual country-specific factors play a sizeable role in det...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 1998/67

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 September 1998

DOI: http://dx.doi.org/10.5089/9781451824247.002

ISBN: 9781451824247

Keywords: pension, pensions, retirement age, pensioners, pension system

This Selected Issues paper provides a quantitative assessment of the long-term prospects of the Luxembourg pension system and analyzes possible reform options. The results indicate a need to adopt-at an early stage...

Luxembourg
			: Statistical Appendix

Luxembourg : Statistical Appendix »

Volume/Issue: 1998/68

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 September 1998

DOI: http://dx.doi.org/10.5089/9781451824292.002

ISBN: 9781451824292

Keywords: expenditure, employment, unemployment, total expenditure

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Finance & Development, December 1998

Finance & Development, December 1998 »

Volume/Issue: 35/4

Series: Finance & Development

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1998

DOI: http://dx.doi.org/10.5089/9781451951912.022

ISBN: 9781451951912

Keywords: capital account liberalization, monetary policy, monetary system, international monetary system, monetary fund

How will EMU affect the way the IMF monitors economic developments in its European members?...

Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments

Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments »

Volume/Issue: 1997/93

Series: IMF Working Papers

Author(s): Francesco Mongelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1997

DOI: http://dx.doi.org/10.5089/9781451951271.001

ISBN: 9781451951271

Keywords: economic integration, tax harmonization, joint analysis of monetary and fiscal policy, European Monetary Union, taxation, fiscal discipline, public debt, tax systems

This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate diff...

Luxembourg
			: Recent Economic Developments

Luxembourg : Recent Economic Developments »

Volume/Issue: 1996/47

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 1996

DOI: http://dx.doi.org/10.5089/9781451824230.002

ISBN: 9781451824230

Keywords: unemployment, employment, social security, unemployed, unemployment rate

This paper analyzes economic developments in Luxembourg during the 1990s. Economic performance continues to be exceptional in Luxembourg. Growth averaged 6 percent during 1980s, well above the European average, whi...

Luxembourg
			: Selected Issues

Luxembourg : Selected Issues »

Volume/Issue: 1996/48

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 1996

DOI: http://dx.doi.org/10.5089/9781451824285.002

ISBN: 9781451824285

Keywords: pension, pensions, pension fund, pension system, pension expenditure

This Selected Issues paper analyzes the effect of aging on pension expenditure in Luxembourg. The paper highlights that Luxembourg is in a relatively favorable position because its GDP growth has been well above th...

Non-G-10 Countries and the Basle Capital Rules
			: How Tough a Challenge is it to Join the Basle Club?

Non-G-10 Countries and the Basle Capital Rules : How Tough a Challenge is it to Join the Basle Club? »

Volume/Issue: 1995/5

Series: IMF Policy Discussion Papers

Author(s): Claudia Dziobek , María Nieto , and Olivier Frecaut

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1995

DOI: http://dx.doi.org/10.5089/9781451972467.003

ISBN: 9781451972467

Keywords: Bank regulations, capital accord, balance sheet, capital ratio, risk weights, capital adequacy

The 1988 Basle Capital Accord has introduced the norm of a risk-based capital ratio of 8 percent. It was negotiated among the G-10 countries to strengthen their international banks’ capital base while simult...

Government Spending, Taxes, and Economic Growth

Government Spending, Taxes, and Economic Growth »

Volume/Issue: 1994/92

Series: IMF Working Papers

Author(s): Paul Cashin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1994

DOI: http://dx.doi.org/10.5089/9781451951479.001

ISBN: 9781451951479

Keywords: taxation, economic growth, government spending, public finance

This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in publi...

Statuts du
			: Fonds monétaire international

Statuts du : Fonds monétaire international »

Series: Articles of Agreement

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1993

Language: French

DOI: http://dx.doi.org/10.5089/9781557753731.013

ISBN: 9781557753731

Keywords: voting, voting power, exchange arrangements, election, exchange rates, voting rights, exchange restrictions, general resources account, exchange transactions, gold

Revised in 1993, this edition incorporates the Third Amendment of the Articles of Agreement. Reprinted in December 2004. Reprinted in January 2008 (200 copies)...

The IMF's Statistical Systems in Context of Revision of the United Nations' A System of National Accounts

The IMF's Statistical Systems in Context of Revision of the United Nations' A System of National Accounts »

Series: Books

Author(s): Vicente Galbis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1991

DOI: http://dx.doi.org/10.5089/9781557751591.071

ISBN: 9781557751591

Keywords: payments, social security, interest, taxes, liabilities

Sponsored by the IMF's Statistics Department and edited by Vicente Galbis, this volume contributes to the international discussion that resulted in the UN's "A System of National Accounts, 1993." Experts from the I...

Corporate Income Tax Harmonization and Capital Allocation

Corporate Income Tax Harmonization and Capital Allocation »

Volume/Issue: 1990/103

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1990

DOI: http://dx.doi.org/10.5089/9781451948035.001

ISBN: 9781451948035

Keywords: cost of capital, capital stock, effective tax rates, tax systems, inflation rate

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...

The Role of the SDR in the International Monetary System

The Role of the SDR in the International Monetary System »

Series: Occasional Papers

Author(s): Juanita Roushdy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 March 1987

DOI: http://dx.doi.org/10.5089/9780939934812.084

ISBN: 9780939934812

Keywords: monetary fund, gold, monetary system, international monetary system, exchange rate

In the years since the SDR was created, the international monetary system has experienced a number of profound changes. The present paper sketches the effects of these changes on perceptions of the role that the SD...

Aspects of the International Banking Safety Net

Aspects of the International Banking Safety Net »

Series: Occasional Papers

Author(s): G. Johnson , and Richard Abrams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1983

DOI: http://dx.doi.org/10.5089/9781557750587.084

ISBN: 9781557750587

Keywords: banking, deposit insurance, banking system, international banks, national bank

During the 1970s, international lending by banks came to play a dominant role in the flow of international finance. In the early 1980s, banks have continued to play a major role, but the recent evidence of strains...

Le bon fonctionnement des finances internationales, la promotion des accords de confirmation du FMI et la rédaction des accords de prêt privés

Le bon fonctionnement des finances internationales, la promotion des accords de confirmation du FMI et la rédaction des accords de prêt privés »

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 January 1982

Language: French

DOI: http://dx.doi.org/10.5089/9781451973884.054

ISBN: 9781451973884

Keywords: balance of payments, loan agreement, credit tranches, central bank, general resources account, private banks, central banks, international monetary system, bankers, exchange rate policies

...