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Informality and the Challenge of Pension Adequacy: Outlook and Reform Options for Peru

Informality and the Challenge of Pension Adequacy: Outlook and Reform Options for Peru »

Volume/Issue: 2019/149

Series: IMF Working Papers

Author(s): Christoph Freudenberg , and Frederik Toscani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2019

DOI: http://dx.doi.org/10.5089/9781498318525.001

ISBN: 9781498318525

Keywords: Pension funds, Social safety nets, Wage indexation, Labor market reforms, Minimum wages, Pension System, Contribution Density, Replacement Rates, Peru, replacement rate

Past reforms have put the Peruvian pension system on a largely fiscally sustainable path, but the system faces important challenges in providing adequate pension levels for a large share of the population. Using ad...

Growth at Risk: Concept and Application in IMF Country Surveillance

Growth at Risk: Concept and Application in IMF Country Surveillance »

Volume/Issue: 2019/36

Series: IMF Working Papers

Author(s): Ananthakrishnan Prasad , Selim Elekdag , Phakawa Jeasakul , Romain Lafarguette , Adrian Alter , Alan Xiaochen Feng , and Changchun Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2019

DOI: http://dx.doi.org/10.5089/9781484397015.001

ISBN: 9781484397015

Keywords: Interest rates on loans, Economic growth, Economic recovery, External sector, Real interest rates, downside risk;macrofinancial linkages;financial stability;Gar;financial condition;forecast horizon;article IV consultation;quantiles

The growth-at-risk (GaR) framework links current macrofinancial conditions to the distribution of future growth. Its main strength is its ability to assess the entire distribution of future GDP growth (in contrast...

Peru
			: Financial Sector Assessment Program-Detailed Assessment of Observance - Basel Core Principles for Effective Banking Supervision

Peru : Financial Sector Assessment Program-Detailed Assessment of Observance - Basel Core Principles for Effective Banking Supervision »

Volume/Issue: 2018/366

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2018

DOI: http://dx.doi.org/10.5089/9781484390139.002

ISBN: 9781484390139

Keywords: Peru, Western Hemisphere

The overall quality of Peru's supervisory approach and regulation of the banking sector is strong. Some areas for enhancement remain. A key area that needs strengthening relates to the powers and regulatory framewo...

Challenges for Central Banking
			: Perspectives from Latin America

Challenges for Central Banking : Perspectives from Latin America »

Series: Books

Author(s): Luis I. Jacome H. , Yan Carriere-Swallow , Hamid Faruqee , and Krishna Srinivasan

Publisher: China Financial Publishing House (CFPH)

Publication Date: 05 October 2018

Language: Chinese

DOI: http://dx.doi.org/10.5089/9787504994806.071

ISBN: 9787504994806

Keywords: central banking, Latin America, monetary independence, economic integration, term premium, monetary policy, forward guidance, macroprudential policies, monetary frameworks, reserve requirements

In the wake of the 2008-09 global financial crisis, central banking and monetary policy in many corners of the world came under intense pressure and entered unchartered waters. The breadth and scale of central ban...

The Effects of Higher Bank Capital Requirements on Credit in Peru

The Effects of Higher Bank Capital Requirements on Credit in Peru »

Volume/Issue: 2018/222

Series: IMF Working Papers

Author(s): Xiang Fang , David Jutrsa , Maria Martinez Peria , Andrea Presbitero , Lev Ratnovski , and Felix Vardy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2018

DOI: http://dx.doi.org/10.5089/9781484378366.001

ISBN: 9781484378366

Keywords: bank credit, bank regulation, capital requirements

This paper offers novel evidence on the impact of raising bank capital requirements in the context of an emerging market: Peru. Using quarterly bank-level data and exploiting the adoption of bank-specific capital b...

Banca central en América Latina
			: El camino hacia adelante

Banca central en América Latina : El camino hacia adelante »

Volume/Issue: 2016/197

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Luis I. Jacome H. , Nicolas Magud , and Alejandro Werner

Publisher: CEMLA/Centro de Estudios Monetarios Latinamericano

Publication Date: 31 July 2018

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484343241.001

ISBN: 9781484343241

Keywords: Argentina, Bolivia, Central bank autonomy, Central banks, Chile, Colombia, Brazil, Ecuador, Financial stability, Intervention

Los bancos centrales de América Latina han avanzado considerablemente en la creación de un entorno de estabilidad de precios que propicie el crecimiento económico sostenible. Examinamos estos logros y analizamos lo...

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

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

Volume/Issue: 2018/225

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2018

DOI: http://dx.doi.org/10.5089/9781484369203.002

ISBN: 9781484369203

Keywords: Western Hemisphere, Peru

Peru has been one of the top performers in Latin America since the turn of the century: robust growth has helped close the income gap with the largest regional economies and reduce poverty significantly. Last year,...

Peru
			: Financial System Stability Assessment

Peru : Financial System Stability Assessment »

Volume/Issue: 2018/238

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2018

DOI: http://dx.doi.org/10.5089/9781484370667.002

ISBN: 9781484370667

Keywords: Peru, Western Hemisphere

Peru's financial system has developed and become more resilient since the previous FSAP in 2011, but some challenges remain. Peru's main vulnerabilities are external, especially related to growth in trading partner...

Regional Economic Outlook, April 2018, Western Hemisphere Department
			: Seizing the Momentum

Regional Economic Outlook, April 2018, Western Hemisphere Department : Seizing the Momentum »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2018

DOI: http://dx.doi.org/10.5089/9781484339879.086

ISBN: 9781484339879

The world economy and global trade are experiencing a broad-based cyclical upswing. Since October 2017, global growth outcomes and the outlook for 2018-19 have improved across all regions, reinforced by the expecte...

Regional Economic Outlook, April 2018, Western Hemisphere Department
			: Seizing the Momentum

Regional Economic Outlook, April 2018, Western Hemisphere Department : Seizing the Momentum »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2018

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484348925.086

ISBN: 9781484348925

The world economy and global trade are experiencing a broad-based cyclical upswing. Since October 2017, global growth outcomes and the outlook for 2018-19 have improved across all regions, reinforced by the expecte...

A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean

A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean »

Volume/Issue: 2018/94

Series: IMF Working Papers

Author(s): Antonio David , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 April 2018

DOI: http://dx.doi.org/10.5089/9781484353059.001

ISBN: 9781484353059

Keywords: Mexico, Paraguay, Peru, Taxation, Uruguay, Western Hemisphere, Argentina, Fiscal policy, Guatemala, Jamaica

This paper presents a new database of fiscal consolidations for 14 Latin American and Caribbean economies during 1989-2016. We focus on discretionary changes in taxes and government spending primarily motivated by...

The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru

The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru »

Volume/Issue: 2017/208

Series: IMF Working Papers

Author(s): Francisco Roch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

DOI: http://dx.doi.org/10.5089/9781484320648.001

ISBN: 9781484320648

Keywords: Western Hemisphere, Peru, Chile, Colombia, JEL Classification Numbers: E62, F14, H50, O13 Commodity Prices, Fiscal Policy, Flexible Exchange Rates

This paper presents a comparative analysis of the macroeconomic adjustment in Chile, Colombia, and Peru to commodity terms-of-trade shocks. The study is done in two steps: (i) an analysis of the impulse responses o...

Peru
			: 2017 Article IV Consultation-Press Release; and Staff Report

Peru : 2017 Article IV Consultation-Press Release; and Staff Report »

Volume/Issue: 2017/166

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2017

DOI: http://dx.doi.org/10.5089/9781484305195.002

ISBN: 9781484305195

Keywords: Western Hemisphere, Peru

This 2017 Article IV Consultation highlights Peru's average growth of more than 5.25 percent since 2000, which has led to significantly reduced unemployment and poverty. Inflation is in low single digits, the fisca...

Peru
			: Selected Issues

Peru : Selected Issues »

Volume/Issue: 2017/167

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2017

DOI: http://dx.doi.org/10.5089/9781484305232.002

ISBN: 9781484305232

Keywords: Peru, Western Hemisp

This Selected Issues paper presents an overview of the financial deepening achievements and challenges in Peru. Although substantial progress has been made on various indicators of financial deepening, Peru lags re...

Financial Integration in Latin America
			: A New Strategy for a New Normal

Financial Integration in Latin America : A New Strategy for a New Normal »

Series: Books

Author(s): Charles Enoch , Wouter Bossu , Carlos Caceres , and Diva Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2017

DOI: http://dx.doi.org/10.5089/9781513520247.071

ISBN: 9781513520247

Keywords: Cross-border banking, Financial integration, Latin American regional banking, commodity supercycle, fragmentation, international banking system, growth, policymaking, Latin America, regional financial integration

With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to s...

Cluster Report
			: Trade Integration in Latin America and the Caribbean

Cluster Report : Trade Integration in Latin America and the Caribbean »

Volume/Issue: 2017/66

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 March 2017

DOI: http://dx.doi.org/10.5089/9781475586015.002

ISBN: 9781475586015

Keywords: Puerto Rico, Suriname, Peru, Trinidad and Tobago, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica

This Cluster Report explores opportunities for trade integration in the Latin America and the Caribbean region. It finds that the region can reap significant growth benefits from further trade integration. With tra...

Trade Liberalization in Peru
			: Adjustment Costs Amidst High Labor Mobility

Trade Liberalization in Peru : Adjustment Costs Amidst High Labor Mobility »

Volume/Issue: 2017/47

Series: IMF Working Papers

Author(s): Elin Baldárrago , and Gonzalo Salinas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2017

DOI: http://dx.doi.org/10.5089/9781475585568.001

ISBN: 9781475585568

Keywords: Trade liberalization, Peru, Poverty, Tariff, Measurement and Analysis of Poverty, Regional, Urban, and Rural Analyses, General

While trade integration has been an engine of global growth and prosperity some sectors have been negatively affected by increased imports competition, as expected in theory. Higher labor mobility could lower these...

Challenges for Central Banking
			: Perspectives from Latin America

Challenges for Central Banking : Perspectives from Latin America »

Series: Books

Author(s): Luis I. Jacome H. , Yan Carriere-Swallow , Hamid Faruqee , and Krishna Srinivasan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2016

DOI: http://dx.doi.org/10.5089/9781513591766.071

ISBN: 9781513591766

Keywords: central banking, Latin America, monetary independence, economic integration, term premium, monetary policy, forward guidance, macroprudential policies, monetary frameworks, reserve requirements

In the wake of the 2008-09 global financial crisis, central banking and monetary policy in many corners of the world came under intense pressure and entered unchartered waters. The breadth and scale of central ban...

Central Banking in Latin America
			: The Way Forward

Central Banking in Latin America : The Way Forward »

Volume/Issue: 2016/197

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Luis I. Jacome H. , Nicolas Magud , and Alejandro Werner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2016

DOI: http://dx.doi.org/10.5089/9781475543353.001

ISBN: 9781475543353

Keywords: Central Banking, Monetary Policy, Macroprudential Policy, Latin America.

Latin America's central banks have made substantial progress towards delivering an environment of price stability that is supportive of sustainable economic growth. We review these achievements, and discuss remaini...

Fiscal Multipliers and Institutions in Peru
			: Getting the Largest Bang for the Sol

Fiscal Multipliers and Institutions in Peru : Getting the Largest Bang for the Sol »

Volume/Issue: 2016/144

Series: IMF Working Papers

Author(s): Svetlana Vtyurina , and Zulima Leal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2016

DOI: http://dx.doi.org/10.5089/9781498381017.001

ISBN: 9781498381017

Keywords: Peru, fiscal policy, fiscal sustainability, nonlinear models, multipliers, public investment management, decentralization.

With the end of the commodity super cycle, Peru's potential growth has declined, raising questions of what government policies could do to help boost growth, including over the medium-term. Our econometric analysis...

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

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

Volume/Issue: 2016/234

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2016

DOI: http://dx.doi.org/10.5089/9781498368438.002

ISBN: 9781498368438

This 2016 Article IV Consultation highlights that Peru has successfully navigated the commodity cycle and the 2008-09 global financial crisis, and still leads growth among large Latin American economies. Following...

Peru
			: Selected Issues

Peru : Selected Issues »

Volume/Issue: 2016/235

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2016

DOI: http://dx.doi.org/10.5089/9781475582741.002

ISBN: 9781475582741

This Selected Issues paper presents a comparative analysis of the macroeconomic adjustment in Chile, Colombia, and Peru to commodity terms-of-trade shocks. The study is done in two steps: (1) an analysis of the imp...

Financial De-Dollarization
			: A Global Perspective and the Peruvian Experience

Financial De-Dollarization : A Global Perspective and the Peruvian Experience »

Volume/Issue: 2016/97

Series: IMF Working Papers

Author(s): Luis Catão , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 April 2016

DOI: http://dx.doi.org/10.5089/9781484341377.001

ISBN: 9781484341377

Keywords: Dollarization, Currrency Substitution, Monetary Policy, Emerging Markets.

We re-appraise the cross-country evidence on the dollarization of financial systems in emerging market economies. Amidst striking heterogeneity of patterns across regions, we identify a broad global trend towards f...

Inflation Targeting and Exchange Rate Management In Less Developed Countries

Inflation Targeting and Exchange Rate Management In Less Developed Countries »

Volume/Issue: 2016/55

Series: IMF Working Papers

Author(s): Marco Airaudo , Edward Buffie , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2016

DOI: http://dx.doi.org/10.5089/9781513567433.001

ISBN: 9781513567433

Keywords: Inflation Targeting, Exchange Rate, Indeterminacy, Taylor Principle, inflation, foreign exchange, central bank, Monetary Policy (Targets, Instruments, and Effects)

We analyze coordination of monetary and exchange rate policy in a two-sector model of a small open economy featuring imperfect substitution between domestic and foreign financial assets. Our central finding is that...

Excerpt: Peru Staying the Course of Economic Success

Excerpt: Peru Staying the Course of Economic Success »

Series: Miscellaneous Publication (Other)

Author(s): Alejandro Werner , and Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2016

DOI: http://dx.doi.org/10.5089/9781513586922.073

ISBN: 9781513586922

Keywords: Financial crises, Economic policy, Fiscal policy, Economic growth, Financial markets, MISC PUBS, inflation-targeting, reserve requirement, countercyclical, Peruvian authority

Peru stands out among Latin American countries as an example of successful economic reforms over the past decade. This comprehensive look at Peru's economy traces that country's journey from a debt crisis in the 19...

Gestión financiera pública en América Latina
			: La clave de la eficiencia y la transparencia

Gestión financiera pública en América Latina : La clave de la eficiencia y la transparencia »

Series: Books

Publisher: Inter-American Development Bank

Publication Date: 19 January 2016

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781597822244.071

ISBN: 9781597822244

Keywords: Public financial management, Latin America, contabilidad, costo, presupuestos, compras, deuda, gestión financiera pública, América Latina

La eficiencia, la eficacia y la transparencia de la gestión financiera pública en América Latina son fundamentales para la supervisión de los recursos públicos, la estabilidad fiscal y el desarrollo económico soste...

Public Financial Management in Latin America
			: The Key to Efficiency and Transparency

Public Financial Management in Latin America : The Key to Efficiency and Transparency »

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2016

DOI: http://dx.doi.org/10.5089/9781597822268.071

ISBN: 9781597822268

Keywords: Public financial management, Latin America, accounting, cost, budget, procurement, debt

In recent years, the countries of Latin America have embraced reforms in public financial management and have made many important advances-however, many challenges remain. This book brings together IMF and IDB staf...

Sharing a Ride on the Commodities Roller Coaster
			: Common Factors in Business Cycles of Emerging Economies

Sharing a Ride on the Commodities Roller Coaster : Common Factors in Business Cycles of Emerging Economies »

Volume/Issue: 2015/280

Series: IMF Working Papers

Author(s): Andres Fernandez , Andres Gonzalez , and Diego Rodriguez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 December 2015

DOI: http://dx.doi.org/10.5089/9781513587677.001

ISBN: 9781513587677

Keywords: Emerging economies, common factors, Bayesian estimation, dynamic stochastic equilibrium models, commodity, prices, price, commodity price, Open Economy Macroeconomics, International Business Cycles

Fluctuations in commodity prices are an important driver of business cycles in small emerging market economies (EMEs). We document how these fluctuations correlate strongly with the business cycle in EMEs. We then...

Peru
			: Fiscal Transparency Evaluation

Peru : Fiscal Transparency Evaluation »

Volume/Issue: 2015/294

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 October 2015

DOI: http://dx.doi.org/10.5089/9781513595504.002

ISBN: 9781513595504

Keywords: Fiscal transparency, Fiscal reporting, Budgets, Budgeting, Natural resources, Revenues, Fiscal risk, Risk management, Peru, transparency

This paper assesses Peru's fiscal transparency practices in comparison with the IMF's Fiscal Transparency Code, including the new draft pillar on resource revenue management. Peru's practices meet most of the princ...

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence »

Volume/Issue: 2015/226

Series: IMF Working Papers

Author(s): Olivier Blanchard , Jonathan Ostry , Atish Ghosh , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

DOI: http://dx.doi.org/10.5089/9781513500805.001

ISBN: 9781513500805

Keywords: capital inflows, bonds, bond, return, domestic bonds, All Countries, apital inflows,

The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead t...

Regional Economic Outlook, October 2015: Western Hemisphere Department
			: Adjusting Under Pressure

Regional Economic Outlook, October 2015: Western Hemisphere Department : Adjusting Under Pressure »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

DOI: http://dx.doi.org/10.5089/9781513575209.086

ISBN: 9781513575209

Keywords: Trade integration, Fiscal consolidation, Commodity prices, Exchange rate flexibility, interest, trade, exchange, interest rates, financial development

Economies in the Western Hemisphere are generally seeing a slowdown in growth. The U.S. economy regained momentum after a slow start at the beginning of the year, while in Latin America and the Caribbean economic a...

Perspectivas económicas regionales, octubre de 2015: Departamento del Hemisferio Occidental
			: Ajustando bajo presión

Perspectivas económicas regionales, octubre de 2015: Departamento del Hemisferio Occidental : Ajustando bajo presión »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513540610.086

ISBN: 9781513540610

Keywords: intereses, comercio, intercambio, tasa de interés, desarrollo financiero

....

Financial Inclusion
			: Zooming in on Latin America

Financial Inclusion : Zooming in on Latin America »

Volume/Issue: 2015/206

Series: IMF Working Papers

Author(s): Era Dabla-Norris , Yixi Deng , Anna Ivanova , Izabela Karpowicz , Filiz Unsal , Eva VanLeemput , and Joyce Wong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2015

DOI: http://dx.doi.org/10.5089/9781513568928.001

ISBN: 9781513568928

Keywords: Financial inclusion, Growth, Inequality, finance, household, households, bank, Equity, Justice, and Other Normative Criteria and Measurement

Countries in Latin America and the Caribbean (LAC) have made important strides in promoting financial inclusion of firms and households. However, while the region is broadly at par with its peers on financial inclu...

How to De-Dollarize Financial Systems in the Caucasus and Central Asia?

How to De-Dollarize Financial Systems in the Caucasus and Central Asia? »

Volume/Issue: 2015/203

Series: IMF Working Papers

Author(s): Sami Ben Naceur , Amr Hosny , and Gregory Hadjian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 September 2015

DOI: http://dx.doi.org/10.5089/9781513507279.001

ISBN: 9781513507279

Keywords: financial dollarization, financial development, de-dollarization, exchange, exchange rate, currency, inflation, deposits, General,

Dollarization rates in the Caucasus and Central Asia (CCA) region are among the highest in the world, with adverse consequences for macroeconomic stability, monetary policy transmission, and financial sector develo...

Peru
			: Staying the Course of Economic Success

Peru : Staying the Course of Economic Success »

Series: Books

Author(s): Alejandro Werner , and Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2015

DOI: http://dx.doi.org/10.5089/9781513599748.071

ISBN: 9781513599748

Keywords: exchange, tax, investment, exchange rate, foreign exchange

Peru stands out among Latin American countries as an example of successful economic reforms over the past decade. This comprehensive look at Peru's economy traces that country's journey from a debt crisis in the 19...

Perú
			: Manteniéndose en el camino del éxito económico

Perú : Manteniéndose en el camino del éxito económico »

Series: Books

Author(s): Alejandro Werner , and Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513521473.071

ISBN: 9781513521473

Keywords: bolsa, impuesto, inversión, tipo de cambio, divisas

Perú se destaca entre los países latinoamericanos como un ejemplo de ejecución de reformas económicas exitosas en la última década. Este análisis exhaustivo de la economía peruana repasa la trayectoria del país des...

Finance and Development, September 2015

Finance and Development, September 2015 »

Volume/Issue: 52/3

Series: Finance & Development

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 August 2015

DOI: http://dx.doi.org/10.5089/9781484372500.022

ISBN: 9781484372500

Keywords: Finance and Development, finance, monetary fund, markets, emerging markets, bank

This chapter presents the point of view and ideas of Sabina Alkire, an economist. Alkire wants the Multidimensional Poverty Index to be part of a data revolution to guide the fight against poverty. According to Alk...

Administración de ingresos públicos: Panorama general
			: Análisis de datos iniciales utilizando la Herramienta de Información Fiscal para la Administración de Ingresos Públicos

Administración de ingresos públicos: Panorama general : Análisis de datos iniciales utilizando la Herramienta de Información Fiscal para la Administración de Ingresos Públicos »

Series: Departmental Papers / Policy Papers

Author(s): Andrea Lemgruber , Andrew Masters , and Duncan Cleary

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513509266.087

ISBN: 9781513509266

Keywords: Fiscal management, Revenues, Fiscal policy, Tax policy, Tax administration, impuestos, ingreso públicos, aduanas, impuestos, datos

En los últimos años, el Departamento de Finanzas Públicas del FMI ha desarrollado la Herramienta de Información Fiscal para la Administración de Ingresos Públicos (HIF-AIP), una iniciativa orientada a recopilar dat...

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies »

Volume/Issue: 2015/148

Series: IMF Working Papers

Author(s): Diana Ayala Pena , Milan Nedeljkovic , and Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2015

DOI: http://dx.doi.org/10.5089/9781513579757.001

ISBN: 9781513579757

Keywords: bond, markets, debt, market, General, General, General,

This paper studies the determinants of shifts in debt composition among EM non-financial corporates. We show that institutions and macro fundamentals create an enabling environment for bond market development. Duri...

Global Financial Spillovers to Emerging Market Sovereign Bond Markets

Global Financial Spillovers to Emerging Market Sovereign Bond Markets »

Volume/Issue: 2015/141

Series: IMF Working Papers

Author(s): Christian Ebeke , and Annette Kyobe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2015

DOI: http://dx.doi.org/10.5089/9781513552750.001

ISBN: 9781513552750

Keywords: Financial shocks, EM bond markets, Non-linearity, markets, currency, bond, holdings,

Foreign holdings of emerging markets (EMs) government bonds have increased substantially over the last decade. While foreign participation in local-currency sovereign bond markets provides an additional source of f...

Peru
			: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru

Peru : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru »

Volume/Issue: 2015/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 May 2015

DOI: http://dx.doi.org/10.5089/9781513539317.002

ISBN: 9781513539317

Keywords: investment, debt, poverty, monetary fund, deficit

This 2015 Article IV Consultation highlights that Peru remains one of the best performing economies in Latin America, with solid macroeconomic policies and fundamentals and visible gains in poverty reduction. Howev...

Peru
			: Selected Issues

Peru : Selected Issues »

Volume/Issue: 2015/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 May 2015

DOI: http://dx.doi.org/10.5089/9781513560410.002

ISBN: 9781513560410

Keywords: private investment, capital, interest, public investment

This Selected Issues paper describes recent investment dynamics in Peru, and assesses the relationship between private investment and its fundamentals. Over the last decade, average growth in Peru exceeded 6 percen...

Understanding Revenue Administration
			: An Initial Data Analysis Using the Revenue Administration Fiscal Information Tool

Understanding Revenue Administration : An Initial Data Analysis Using the Revenue Administration Fiscal Information Tool »

Series: Departmental Papers / Policy Papers

Author(s): Andrea Lemgruber , Andrew Masters , and Duncan Cleary

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 May 2015

DOI: http://dx.doi.org/10.5089/9781513584829.087

ISBN: 9781513584829

Keywords: Fiscal management, Revenues, Fiscal policy, Tax policy, Tax administration, tax, revenue, customs, taxes, data

During the past few years, the Fiscal Affairs Department (FAD) has developed the Revenue Administration Fiscal Information Tool (RA-FIT), a tax and customs data gathering initiative. This paper, the first of its ki...

Perspectivas económicas, abril de 2015: Las Américas,
			: El Norte se recupera, el Sur aún espera

Perspectivas económicas, abril de 2015: Las Américas, : El Norte se recupera, el Sur aún espera »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 May 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484318768.086

ISBN: 9781484318768

Keywords: América Latina; exportadores de materias primas; economías que dependen del turismo; América Central y la República Dominicana; economía finacieramente integradas

Perspectivas económicas: Las Américas, abril de 2015...

Fiscal Policy in Latin America
			: Lessons and Legacies of the Global Financial Crisis

Fiscal Policy in Latin America : Lessons and Legacies of the Global Financial Crisis »

Volume/Issue: 2015/6

Series: Staff Discussion Notes

Author(s): Oya Celasun , Francesco Grigoli , Keiko Honjo , Javier Kapsoli , Alexander Klemm , Bogdan Lissovolik , Jan Luksic , Marialuz Moreno Badia , Joana Pereira , Marcos Poplawski-Ribeiro , Baoping Shang , and Yulia Ustyugova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2015

DOI: http://dx.doi.org/10.5089/9781498304412.006

ISBN: 9781498304412

Keywords: Fiscal policy, Latin America, fiscal institutions, debt, expenditure, financial crisis, Structure and Scope of Government, General, General, General,

Latin America's bold fiscal policy reaction to the global financial crisis was hailed as a sign that the region had finally overcome its procyclical fiscal past. However, most countries of the region have not yet r...

Fair Weather or Foul? The Macroeconomic Effects of El Niño

Fair Weather or Foul? The Macroeconomic Effects of El Niño »

Volume/Issue: 2015/89

Series: IMF Working Papers

Author(s): Paul Cashin , Kamiar Mohaddes , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2015

DOI: http://dx.doi.org/10.5089/9781475535495.001

ISBN: 9781475535495

Keywords: El Ni&;amp;#x00F1;o weather shocks, oil and non-fuel commodity prices, global macroeconometric modeling, international business cycle, prices, inflation, variables, gdp, trade, Time-Series Models

This paper employs a dynamic multi-country framework to analyze the international macroeconomic transmission of El Niño weather shocks. This framework comprises 21 country/region-specific models, estimated over the...

Regional Economic Outlook, April 2015:  Western Hemisphere Department
			: Northern Spring, Southern Chills

Regional Economic Outlook, April 2015: Western Hemisphere Department : Northern Spring, Southern Chills »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2015

DOI: http://dx.doi.org/10.5089/9781498312127.086

ISBN: 9781498312127

Keywords: investment, commodity, prices, exchange, debt

The economic outlook for Latin America and the Caribbean remains very challenging. Regional growth is projected to decline for a fifth consecutive year in 2015, dipping below 1 percent. Weakness is concentrated amo...

Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?

Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We? »

Volume/Issue: 2015/77

Series: IMF Working Papers

Author(s): Nicolas Magud , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2015

DOI: http://dx.doi.org/10.5089/9781475534221.001

ISBN: 9781475534221

Keywords: financial constraints, private investment, commodity, debt, General, General, General, General, capital inflows.,

We document that (i) although private investment growth in emerging markets has decelerated in recent years, it came down from cyclical highs and remains close to pre-crisis trends; and (ii) investment-to-output ra...

Central Banking in Latin America
			: From the Gold Standard to the Golden Years

Central Banking in Latin America : From the Gold Standard to the Golden Years »

Volume/Issue: 2015/60

Series: IMF Working Papers

Author(s): Luis Jácome

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2015

DOI: http://dx.doi.org/10.5089/9781484303184.001

ISBN: 9781484303184

Keywords: banks, bank, capital, Monetary Policy (Targets, Instruments, and Effects),

This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods...

Juego limpio
			: Leyes más equitativas fomentan la participación femenina en la fuerza laboral

Juego limpio : Leyes más equitativas fomentan la participación femenina en la fuerza laboral »

Volume/Issue: 2015/2

Series: Staff Discussion Notes

Author(s): Christian Gonzales , Sonali Jain-Chandra , Kalpana Kochhar , and Monique Newiak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513573564.006

ISBN: 9781513573564

Keywords: Participación en la fuerza laboral, Mujeres, Igualdad de género,Mercados de trabajo, Reformas del mercado laboral, Aspectos económicos de la familia, Análisis entre países

En este Documento de Análisis del Personal Técnico se estudia el efecto de las restricciones legales basadas en el género y de las políticas públicas y las características demográficas en la participación femenina...

Drivers of Peru's Equilibrium Real Exchange Rate
			: Is the Nuevo Sol a Commodity Currency?

Drivers of Peru's Equilibrium Real Exchange Rate : Is the Nuevo Sol a Commodity Currency? »

Volume/Issue: 2015/26

Series: IMF Working Papers

Author(s): Melesse Tashu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2015

DOI: http://dx.doi.org/10.5089/9781498302760.001

ISBN: 9781498302760

Keywords: Real exchange rate, exchange rate, equilibrium, currency, currencies, Open Economy Macroeconomics,

This paper tests the hypothesis of ‘commodity currency' on the nuevo sol and, more generally, identifies the drivers of Peru's equilibrium real exchange rate using a cointegration analysis. The results show that ex...

Output Gap Uncertainty and Real-Time Monetary Policy

Output Gap Uncertainty and Real-Time Monetary Policy »

Volume/Issue: 2015/14

Series: IMF Working Papers

Author(s): Francesco Grigoli , Alexander Herman , Andrew Swiston , and Gabriel Di Bella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2015

DOI: http://dx.doi.org/10.5089/9781498393454.001

ISBN: 9781498393454

Keywords: Output gap, policy rule, data revisions, real-time, uncertainty, inflation target, business cycle, output, future, Monetary Policy (Targets

Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in distinguishing between cycle and trend in real time. This is important given the central role in monetar...

Latin America
			: New Challenges to Growth and Stability

Latin America : New Challenges to Growth and Stability »

Series: Books

Author(s): Dora Iakova , Luis Cubeddu , Gustavo Adler , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 December 2014

DOI: http://dx.doi.org/10.5089/9781498328166.071

ISBN: 9781498328166

Keywords: debt, commodity, fiscal policy, interest, growth

Over the past fifteen years countries in Latin America made tremendous progress in strengthening their economies and improving living standards. Although output fell temporarily during the global financial crisis,...

Global Monetary Tightening
			: Emerging Markets Debt Dynamics and Fiscal Crises

Global Monetary Tightening : Emerging Markets Debt Dynamics and Fiscal Crises »

Volume/Issue: 2014/215

Series: IMF Working Papers

Author(s): Julio Escolano , Christina Kolerus , and Constant Lonkeng Ngouana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2014

DOI: http://dx.doi.org/10.5089/9781475584691.001

ISBN: 9781475584691

Keywords: Debt dynamics, sovereign debt crisis, unconventional, debt, bond, interest, Monetary Policy (Targets, Instruments, and Effects), International Lending and Debt Problems

This paper finds that tightening global financial conditions can worsen emerging economies' public debt dynamics through an increasing interest rate-growth differential, particularly if coupled with high global ris...

Motives and Effectiveness of Forex Interventions
			: Evidence from Peru

Motives and Effectiveness of Forex Interventions : Evidence from Peru »

Volume/Issue: 2014/217

Series: IMF Working Papers

Author(s): Melesse Tashu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2014

DOI: http://dx.doi.org/10.5089/9781484340189.001

ISBN: 9781484340189

Keywords: FX intervention, FX purchase, FX sale, FX volatility, exchange, exchange rate, central bank, portfolio,

This paper assesses empirically the motives and effectiveness of forex interventions in Peru. While the central bank of Peru states that its forex interventions aim only at containing excessive exchange rate volati...

Reforma de los subsidios a la energía
			: Lecciones e implicaciones

Reforma de los subsidios a la energía : Lecciones e implicaciones »

Series: Books

Author(s): Benedict Clements , David Coady , Stefania Fabrizio , Sanjeev Gupta , Trevor Alleyne , and Carlo Sdralevich

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484380109.071

ISBN: 9781484380109

Keywords: subsidios a la energía, subsidios, energía

Los subsidios a la energía tienen consecuencias económicas de amplio alcance. A pesar de que tienen por objeto proteger a los consumidores, los subsidios agravan los desequilibrios fiscales, desplazan gastos públic...

Measuring External Risks for Peru
			: Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy

Measuring External Risks for Peru : Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy »

Volume/Issue: 2014/161

Series: IMF Working Papers

Author(s): Fei Han

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2014

DOI: http://dx.doi.org/10.5089/9781498327220.001

ISBN: 9781498327220

Keywords: Macroeconomic Model, Partial Dollarization, External Risk, Macroeconomic Forecast, inflation, aggregate demand, monetary fund, Multiple or Simultaneous Equation Models: Instrumental Variables (IV) Estimation, Forecasting and Simulation, Monetary Policy (Targets

This paper quantifies the effects of external risks for Peru, with particular attention to two major external risks, China's investment slowdown and the U.S. monetary policy tightening. In particular, a macroeconom...

Finance & Development, September 2014

Finance & Development, September 2014 »

Volume/Issue: 51/3

Series: Finance & Development

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 August 2014

DOI: http://dx.doi.org/10.5089/9781475566987.022

ISBN: 9781475566987

Keywords: Finance and Development, monetary fund, global economy, monetary system, international monetary system

This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global eco...

Perspectivas económicas regionales, abril de 2014: Departamento del Hemisferio Occidental

Perspectivas económicas regionales, abril de 2014: Departamento del Hemisferio Occidental »

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484346129.086

ISBN: 9781484346129

Los cinco informes sobre las perspectivas económicas regionales (informes REO) que el FMI publica semestralmente abarcan Asia y el Pacífico, Europa, Oriente Medio y Asia Central, África sub-sahariana y las Américas...

Managing Economic Volatility in Latin America

Managing Economic Volatility in Latin America »

Series: Books

Author(s): R. Gelos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2014

DOI: http://dx.doi.org/10.5089/9781484364987.071

ISBN: 9781484364987

Keywords: exchange rate, public debt, inflation, current account, dutch disease

How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region has fared in rece...

Monetary and Macroprudential Policies to Manage Capital Flows

Monetary and Macroprudential Policies to Manage Capital Flows »

Volume/Issue: 2014/30

Series: IMF Working Papers

Author(s): Juan Pablo Medina Guzman , and Jorge Roldos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2014

DOI: http://dx.doi.org/10.5089/9781484302873.001

ISBN: 9781484302873

Keywords: Welfare Analysis, inflation, reserve requirement, inflation targeting, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics, Welfare Analysis.,

We study interactions between monetary and macroprudential policies in a model with nominal and financial frictions. The latter derive from a financial sector that provides credit and liquidity services that lead t...

Peru
			: Selected Issues Paper

Peru : Selected Issues Paper »

Volume/Issue: 2014/22

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2014

DOI: http://dx.doi.org/10.5089/9781475563580.002

ISBN: 9781475563580

Keywords: Dollarization, China, Capital flows, Fiscal policy, Natural resources, Peru, Spillovers, Selected issues, fiscal framework, fiscal sustainability

This Selected Issues paper assesses empirically the motives and effectiveness of foreign exchange (FX) interventions in Peru. The results of the study indicate asymmetries both in the Central Reserve Bank of Peru's...

Peru
			: Staff Report for the 2013 Article IV Consultation

Peru : Staff Report for the 2013 Article IV Consultation »

Volume/Issue: 2014/21

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2014

DOI: http://dx.doi.org/10.5089/9781484394564.002

ISBN: 9781484394564

Keywords: Economic indicators, Banks, Article IV consultation reports, Economic growth, Spillovers, Staff Reports, Press releases, Peru, Monetary policy, Fiscal policy

This Informational Annex highlights Peru's current lending portfolio, which includes 17 active projects with a commitment of US$1.8 billion and an undisbursed balance of US$1.4 billion. The areas covered by the exi...

Russian Federation
			: Selected Issues

Russian Federation : Selected Issues »

Volume/Issue: 2013/311

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 October 2013

DOI: http://dx.doi.org/10.5089/9781484343470.002

ISBN: 9781484343470

Keywords: exchange rate, exchange rate volatility, exchange rate regime, exchange rates, exchange rate regimes, Exchange rate regimes],

This Selected Issues paper analyzes the impact of the adoption of inflation targeting (IT) on exchange rate volatility in Russian Federation. Russia has seen an increase in exchange rate volatility during the past...

Políticas macroprudencial y microprudencial
			: Hacia la cohabitación

Políticas macroprudencial y microprudencial : Hacia la cohabitación »

Volume/Issue: 2013/5

Series: Staff Discussion Notes

Author(s): Jacek Osinski , Katharine Seal , and Lex Hoogduin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2013

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498332941.006

ISBN: 9781498332941

Keywords: Macroprudential Policy, Financial systems, Financial institutions, Banks, Bank supervision, Financial stability, Business cycles, política microprudencial, ciclo financiero, riesgo sistémico

En todos los países, emergentes y avanzados, se requieren mecanismos eficaces para aplicar políticas micro y macroprudenciales a fin de promover la estabilidad financiera global. Ambas políticas se complementan mut...

Peru
			: 2012 Article IV Consultation

Peru : 2012 Article IV Consultation »

Volume/Issue: 2013/45

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 February 2013

DOI: http://dx.doi.org/10.5089/9781475578508.002

ISBN: 9781475578508

Keywords: current account, external debt, public debt, central bank, domestic currency

This paper discusses Peru's economic performance in 2012. The impressive growth is owed to its strong fundamentals and sound policy management. However, the economy is vulnerable to short-term shocks. A low growth...

Peru
			: Selected Issues Paper

Peru : Selected Issues Paper »

Volume/Issue: 2013/46

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 February 2013

DOI: http://dx.doi.org/10.5089/9781475582604.002

ISBN: 9781475582604

Keywords: fiscal framework, fiscal policy, public debt, fiscal rule, fiscal sustainability

The purpose of the study is to examine Peru's effective interest spread through accounting decompositions, financial ratio analysis, and spread regressions. The government's financial restructuring programs accele...

Government Cash Management
			: Relationship between the Treasury and the Central Bank

Government Cash Management : Relationship between the Treasury and the Central Bank »

Volume: 12

Series: Technical Notes and Manuals

Author(s): Mario Pessoa , and Michael Williams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 January 2013

DOI: http://dx.doi.org/10.5089/9781616355487.005

ISBN: 9781616355487

Keywords: Central banks and their policies, Central bank, debt management, fiscal policy, monetary policy, public finance, public financial management, treasury, treasury single account, debt

This technical note and manual (TNM) addresses the following main issues: Interaction between treasury cash management and monetary policy operations within the wider context of the respective economic responsibili...

Connected to Whom? International Interbank Borrowing During the Global Crisis

Connected to Whom? International Interbank Borrowing During the Global Crisis »

Volume/Issue: 2013/14

Series: IMF Working Papers

Author(s): Kalin Tintchev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 January 2013

DOI: http://dx.doi.org/10.5089/9781475542028.001

ISBN: 9781475542028

Keywords: counterparty risk, financial interconnectedness, banking, banking system, credit risk, General, International Lending and Debt Problems, Open Economy Macroeconomics, International Policy Coordination and Transmission,

The unprecedented collapse of international interbank borrowing was a prominent feature of the global financial crisis that started in August 2007. This paper focuses on the drivers of the retrenchment from 32 adva...

Nonfinancial Firms in Latin America
			: A Source of Vulnerability?

Nonfinancial Firms in Latin America : A Source of Vulnerability? »

Volume/Issue: 2012/279

Series: IMF Working Papers

Author(s): Maria Gonzalez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2012

DOI: http://dx.doi.org/10.5089/9781475513486.001

ISBN: 9781475513486

Keywords: External Vulnerability, Global Shocks, Leverage, Debt Structure, exchange rate, short-term debt, exchange rate regime, terms of trade, trade growth, General,

We examine corporate sector vulnerabilities in Brazil, Chile, Colombia, Mexico and Peru. First, we identify stylized facts based on corporate financial indicators. Second, we assess vulnerability of individual firm...

To Cut or Not to Cut? That is the (Central Bank's) Question In Search of the Neutral Interest Rate in Latin America

To Cut or Not to Cut? That is the (Central Bank's) Question In Search of the Neutral Interest Rate in Latin America »

Volume/Issue: 2012/243

Series: IMF Working Papers

Author(s): Nicolas Magud , and Evridiki Tsounta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 October 2012

DOI: http://dx.doi.org/10.5089/9781475512502.001

ISBN: 9781475512502

Keywords: central bank, neutral interest rate, monetary stance, macrorpudential policies, inflation, real interest rate, Monetary Policy (Targets, Instruments, and Effects),

This paper estimates neutral real interest rate (NRIR) ranges for 10 Latin American countries that either have full-fledged inflation targeting regimes in place or have recently adopted them, using an array of meth...

Peru
			: Report on the Statistics Technical Assistance and Training Evaluation Mission (December 12 - 16, 2011)

Peru : Report on the Statistics Technical Assistance and Training Evaluation Mission (December 12 - 16, 2011) »

Volume/Issue: 2012/233

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 August 2012

DOI: http://dx.doi.org/10.5089/9781475506495.002

ISBN: 9781475506495

Keywords: national accounts, government finance, government finance statistics, external debt, data sources

This paper discusses the evaluation of technical assistance (TA) and training provided by the Statistical Department (STA) of the IMF to Peru during 1993-2011. The results showed that TA was reasonably effective, e...

Building Blocks for Effective Macroprudential Policies in Latin America
			: Institutional Considerations

Building Blocks for Effective Macroprudential Policies in Latin America : Institutional Considerations »

Volume/Issue: 2012/183

Series: IMF Working Papers

Author(s): Patrick Imam , Erlend Nier , and Luis Jácome

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

DOI: http://dx.doi.org/10.5089/9781475505313.001

ISBN: 9781475505313

Keywords: Macrorpudential policy, systemic crises, financial system, financial institutions, banking, banking crises, Financial Institutions and Services: Government Policy and Regulation,

An increasing number of countries - including in Latin America - are reforming their financial stability frameworks in the aftermath of the financial crisis, in order to establish a stronger macroprudential policy...

Latin America
			: Vulnerabilities Under Construction?

Latin America : Vulnerabilities Under Construction? »

Volume/Issue: 2012/193

Series: IMF Working Papers

Author(s): Luis Cubeddu , Camilo Tovar Mora , and Evridiki Tsounta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

DOI: http://dx.doi.org/10.5089/9781475505429.001

ISBN: 9781475505429

Keywords: Mortgage, real estate, data gaps, mortgage credit, housing finance, Financial Markets and the Macroeconomy, General Financial Markets: General (includes Measurement and Data), Financial Institutions and Services: General, Real Estate Services,

This paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and compares them with those of other emerging economies. In particular, it examines the real estat...

Credit Growth and the Effectiveness of  Reserve Requirements and Other Macroprudential Instruments in Latin America

Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America »

Volume/Issue: 2012/142

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475503999.001

ISBN: 9781475503999

Keywords: countercyclical policy, interest rate spreads, bank credit, banking, monetary policy, central bank, Financial Institutions and Services: Government Policy and Regulation, Counter Cyclical Policy,

Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve...

Peru
			: Monetary and Exchange Rate Policies, 1930-1980

Peru : Monetary and Exchange Rate Policies, 1930-1980 »

Volume/Issue: 2012/166

Series: IMF Working Papers

Author(s): Gonzalo Pastor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475505146.001

ISBN: 9781475505146

Keywords: Peru monetary and exchange rate policies, Bretton Woods system, Polak model, exchange rate, foreign exchange, real exchange rate, exchange rates, nominal exchange rate, And The Supply Of Money And Credit, macroeconomic Aspects Of International Trade And Finance

This paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to the world economy, including the post-1929 crash and WWII, and changing economic paradigms, such...

Dynamic Loan Loss Provisioning
			: Simulationson Effectiveness and Guide to Implementation

Dynamic Loan Loss Provisioning : Simulationson Effectiveness and Guide to Implementation »

Volume/Issue: 2012/110

Series: IMF Working Papers

Author(s): Torsten Wezel , Jorge Chan-Lau , and Francesco Columba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503319.001

ISBN: 9781475503319

Keywords: Dynamic Provisioining, Procyclicality, capital adequacy, capital adequacy ratio, banking, dividend payout, banking system, Financial Institutions and Services: Government Policy and Regulation,

This simulation-based paper investigates the impact of different methods of dynamic provisioning on bank soundness and shows that this increasingly popular macroprudential tool can smooth provisioning costs over th...

How Do Exchange Rate Regimes Affect Firms' Incentives to Hedge Currency Risk? Micro Evidence for Latin America

How Do Exchange Rate Regimes Affect Firms' Incentives to Hedge Currency Risk? Micro Evidence for Latin America »

Volume/Issue: 2012/69

Series: IMF Working Papers

Author(s): Herman Kamil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

DOI: http://dx.doi.org/10.5089/9781463939052.001

ISBN: 9781463939052

Keywords: exchange rate, exchange rate regime, International Lending and Debt Problems,

Using a unique dataset with information on the currency composition of firms' assets and liabilities in six Latin-American countries, I investigate how the choice of exchange rate regime affects firms' foreign curr...

Peru
			: Selected Issues Paper

Peru : Selected Issues Paper »

Volume/Issue: 2012/27

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

DOI: http://dx.doi.org/10.5089/9781463940423.002

ISBN: 9781463940423

Keywords: fiscal framework, expenditures, fiscal impulse, structural fiscal

Peru's fiscal framework embedded in the Fiscal Responsibility and Transparency Law (FRTL) has proved to be effective in reducing debt. The FRTL embodies some countercyclical elements in response to output or commod...

Peru
			: 2011 Article IV Consultation:  Staff Report; Supplement; and Public Information Notice

Peru : 2011 Article IV Consultation: Staff Report; Supplement; and Public Information Notice »

Volume/Issue: 2012/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

DOI: http://dx.doi.org/10.5089/9781463940416.002

ISBN: 9781463940416

Keywords: current account, credit, external debt, prices, payments

This 2011 Article IV Consultation reports that Peru's activity is expected to decelerate in 2011-12 to slightly below trend while inflation declines toward the target and the external current account deficit remai...

Perspectivas económicas, octubre 2011: Las Américas
			: Vientos cambiantes, nuevos desafíos de política

Perspectivas económicas, octubre 2011: Las Américas : Vientos cambiantes, nuevos desafíos de política »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 November 2011

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781616351311.086

ISBN: 9781616351311

A pesar del reciente deterioro del entorno económico mundial, las proyecciones para la región indican tan solo un debilitamiento moderado de las perspectivas. En la edición de octubre de 2011 de Perspectivas económ...

Regional Economic Outlook, October 2011, Western Hemisphere
			: Shifting Winds, New Policy Challenges

Regional Economic Outlook, October 2011, Western Hemisphere : Shifting Winds, New Policy Challenges »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 November 2011

DOI: http://dx.doi.org/10.5089/9781616351304.086

ISBN: 9781616351304

Keywords: terms of trade, commodity prices, inflation, terms of trade shocks, fiscal consolidation

Despite the recent deterioration in the global economic environment, projections for the region involve only a modest worsening of the outlook. The October 2011 Regional Economic Outlook: Western Hemisphere caution...

Improving the Monetary Policy Frameworks in Central America

Improving the Monetary Policy Frameworks in Central America »

Volume/Issue: 2011/245

Series: IMF Working Papers

Author(s): Stephanie Medina Cas , Alejandro Carrion-Menendez , and Florencia Frantischek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

DOI: http://dx.doi.org/10.5089/9781463923242.001

ISBN: 9781463923242

Keywords: inflation, central bank, price stability, reserve requirements, Monetary Policy, Central Banking, and the Supply of Money and Credit: General,

Several Central American (CADR) countries with independent monetary policies are strengthening their monetary frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengtheni...

The Policy Interest-Rate Pass-Through in Central America

The Policy Interest-Rate Pass-Through in Central America »

Volume/Issue: 2011/240

Series: IMF Working Papers

Author(s): Stephanie Medina Cas , Alejandro Carrion-Menendez , and Florencia Frantischek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

DOI: http://dx.doi.org/10.5089/9781463923228.001

ISBN: 9781463923228

Keywords: interest-rate transmission, exchange rate, central bank, exchange rate flexibility, inflation,

Several Central American (CADR) central banks with independent monetary policies have adopted policy interest rates as their main instrument to signal their monetary policy stances, often in the context of adopting...

Spatial Spillovers in Emerging Market Spreads

Spatial Spillovers in Emerging Market Spreads »

Volume/Issue: 2011/221

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , Emanuele Baldacci , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904234.001

ISBN: 9781463904234

Keywords: sovereign spreads, emerging market, spatial econometrics, external debt, bond, currency crises, sovereign bond, total external debt, International Finance: General,

We use novel spatial econometrics techniques to explore spillovers in the sovereign bond market for 24 emerging economies during 1995-2010. The paper extends the previous literature focusing on spillover effects fr...

The Relationship Between Illicit Coca Production and Formal Economic Activity in Peru

The Relationship Between Illicit Coca Production and Formal Economic Activity in Peru »

Volume/Issue: 2011/182

Series: IMF Working Papers

Author(s): Peter Pedroni , and Concha Verdugo Yepes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2011

DOI: http://dx.doi.org/10.5089/9781462310289.001

ISBN: 9781462310289

Keywords: drugs, economic impact, formal sector, cointegration, statistics, time series, formal sectors, Regional Economic Activity: Growth, Development, and Changes

This paper investigates the relationship between unrecorded economic activity associated with the production of illicit coca and formally recorded economic activity in Peru. It does so by attempting to construct ne...

Foreign Exchange Intervention
			: A Shield Against Appreciation Winds?

Foreign Exchange Intervention : A Shield Against Appreciation Winds? »

Volume/Issue: 2011/165

Series: IMF Working Papers

Author(s): Gustavo Adler , and Camilo Tovar Mora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

DOI: http://dx.doi.org/10.5089/9781462301218.001

ISBN: 9781462301218

Keywords: sterilization, exchange rate, central bank,

This paper examines foreign exchange intervention practices and their effectiveness using a new qualitative and quantitative database for a panel of 15 economies covering 2004 - 10, with special focus on Latin Amer...

Policy Instruments to Lean Against the Wind in Latin America

Policy Instruments to Lean Against the Wind in Latin America »

Volume/Issue: 2011/159

Series: IMF Working Papers

Author(s): G. Terrier , Rodrigo Valdes , Camilo Tovar Mora , Jorge Chan-Lau , Carlos Fernandez Valdovinos , Mercedes Garcia-Escribano , Carlos Medeiros , Man-Keung Tang , Mercedes Vera Martin , and W. Christopher Walker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

DOI: http://dx.doi.org/10.5089/9781455297726.001

ISBN: 9781455297726

Keywords: Dynamic Provisions, Leverage Ratios, Liquidity Requirements, Debt-to-Income Ratios, Loan-to-Value Ratios, Foreign Exchange Credit Risk, Foreign Exchange Positions, Taxes on Capital Inflows, financial system, banking

This paper reviews policy tools that have been used and/or are available for policy makers in the region to lean against the wind and review relevant country experiences using them. The instruments examined include...

The Distributive Effects of Land Titleon Labor Supply
			: Evidence From Brazil

The Distributive Effects of Land Titleon Labor Supply : Evidence From Brazil »

Volume/Issue: 2011/131

Series: IMF Working Papers

Author(s): Mauricio Moura , Caio Piza , and Marcos Poplawski-Ribeiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455259366.001

ISBN: 9781455259366

Keywords: land-titling, quantile regression, propensity score, land title, property rights, child labor, labor market, urban poor, Economic Growth and Aggregate Productivity: General, Time Allocation and Labor Supply

This paper studies the effects of property-titling on labor supply. The role of legal ownership security is isolated by comparing the effect that being part of, or excluded from, a land title program in a unique qu...

Perspectivas económicas, abril 2011: Las Américas
			: Atentos al sobrecalentamiento

Perspectivas económicas, abril 2011: Las Américas : Atentos al sobrecalentamiento »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2011

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781616350895.086

ISBN: 9781616350895

A pesar del reciente deterioro del entorno económico mundial, las proyecciones para la región indican tan solo un debilitamiento moderado de las perspectivas. Sin embargo, en la edición de octubre de 2011 de Perspe...

Regional Economic Outlook, April 2011, Western Hemisphere
			: Watching Out for Overheating

Regional Economic Outlook, April 2011, Western Hemisphere : Watching Out for Overheating »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2011

DOI: http://dx.doi.org/10.5089/9781616350659.086

ISBN: 9781616350659

Keywords: inflation, exchange rate, central bank, foreign exchange, monetary policy

Despite the recent deterioration in the global economic environment, projections for the region involve only a modest worsening of the outlook. The October 2011 Regional Economic Outlook: Western Hemisphere caution...

The Monetary Transmission in Dollarized and Non-Dollarized Economies
			: The Cases of Chile, New Zealand, Peru and Uruguay

The Monetary Transmission in Dollarized and Non-Dollarized Economies : The Cases of Chile, New Zealand, Peru and Uruguay »

Volume/Issue: 2011/87

Series: IMF Working Papers

Author(s): Santiago Acosta Ormaechea , and David Coble Fernandez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

DOI: http://dx.doi.org/10.5089/9781455234097.001

ISBN: 9781455234097

Keywords: Monetary Policy Transmission, IT Regimes, inflation, central bank, money market, aggregate demand,

The paper conducts a comparative study of the monetary policy transmission in two economies that run a well-established IT regime, Chile and New Zealand, vis-à-vis two economies operating under relatively newer IT...

Real-time Forecasts of Economic Activity for Latin American Economies

Real-time Forecasts of Economic Activity for Latin American Economies »

Volume/Issue: 2011/98

Series: IMF Working Papers

Author(s): Philip Liu , Rafael Romeu , and Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

DOI: http://dx.doi.org/10.5089/9781455254293.001

ISBN: 9781455254293

Keywords: Nowcasting, Short-term forecasting, Real-time data, and Latin America, gdp growth, forecasting, real gdp, equation, equations, Model Construction and Estimation

Macroeconomic policy decisions in real-time are based the assessment of current and future economic conditions. These assessments are made difficult by the presence of incomplete and noisy data. The problem is more...

What is Driving Financial De-Dollarization in Latin America?

What is Driving Financial De-Dollarization in Latin America? »

Volume/Issue: 2011/10

Series: IMF Working Papers

Author(s): Mercedes Garcia-Escribano , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2011

DOI: http://dx.doi.org/10.5089/9781455211883.001

ISBN: 9781455211883

Keywords: de-dollarization, banking system, dollarization, exchange rate, exchange rate volatility, constant exchange rate, nominal exchange rate, Monetary Policy, Central Banking, and the Supply of Money and Credit: General

In the last decade, a group of Latin American countries (Bolivia, Paraguay, Peru, and Uruguay) experienced a gradual, yet sustained decline in financial dollarization. This paper documents the stylized facts and us...

Weathering the Global Storm
			: The Benefits of Monetary Policy Reform in the LA5 Countries

Weathering the Global Storm : The Benefits of Monetary Policy Reform in the LA5 Countries »

Volume/Issue: 2010/292

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

DOI: http://dx.doi.org/10.5089/9781455211739.001

ISBN: 9781455211739

Keywords: central bank, inflation, monetary fund

This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the benefits of what they sowed in successfully weathering the global crisis. The adoption of far-r...

Structural Breaks in Fiscal Performance
			: Did Fiscal Responsibility Laws Have Anything to Do with Them?

Structural Breaks in Fiscal Performance : Did Fiscal Responsibility Laws Have Anything to Do with Them? »

Volume/Issue: 2010/248

Series: IMF Working Papers

Author(s): Leandro Medina , Carlos Caceres , and Ana Corbacho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

DOI: http://dx.doi.org/10.5089/9781455209484.001

ISBN: 9781455209484

Keywords: Fiscal Responsibility Laws, Fiscal Institutions, fiscal balance, fiscal balances, primary fiscal balance, Econometric Modeling: General, Studies of Particular Policy Episodes, National Budget, Deficit, and Debt: General,

In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effec...

Perspectivas económicas, October 10: Las Américas
			: Caluroso en el Sur, Más Frío en el Norte

Perspectivas económicas, October 10: Las Américas : Caluroso en el Sur, Más Frío en el Norte »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 October 2010

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589069671.086

ISBN: 9781589069671

Cada semestre, el FMI publica cinco Perspectivas económicas regionales que abarcan las regiones de las Américas, África Subsahariana, Asia y el Pacífico, Europa, Oriente Medio y Asia Central. En cada número se anal...

Regional Economic Outlook, October 2010, Western Hemisphere
			: Heating Up in the South, Cooler in the North

Regional Economic Outlook, October 2010, Western Hemisphere : Heating Up in the South, Cooler in the North »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 October 2010

DOI: http://dx.doi.org/10.5089/9781589069534.086

ISBN: 9781589069534

Keywords: reserve requirements, bond, central bank, international financial statistics, financial system

Heating Up in the South, Cooler in the North broadly describes the economic scene for the Western Hemisphere. The report emphasizes how a mixed environment--with slow recovery in the United States and other advance...

Peru
			: Drivers of De-dollarization

Peru : Drivers of De-dollarization »

Volume/Issue: 2010/169

Series: IMF Working Papers

Author(s): Mercedes Garcia-Escribano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

DOI: http://dx.doi.org/10.5089/9781455201808.001

ISBN: 9781455201808

Keywords: de-dollarization, foreign currency, inflation, macroeconomic stability, foreign exchange, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Financial Institutions and Services: General, Financial Institutions and Services: Government Policy and Regulation,

Peru has successfully pursued a market-driven financial de-dollarization during the last decade. Dollarization of credit and deposit of commercial banks - across all sectors and maturities - has declined, with larg...

United States
			: Publication of Financial Sector Assessment Program Documentation:  Detailed Assessment of Observance of the Depository Trust Company's Observance of the CPSS-IOSCO Recommendations for Securities Settlement Systems

United States : Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of the Depository Trust Company's Observance of the CPSS-IOSCO Recommendations for Securities Settlement Systems »

Volume/Issue: 2010/128

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 May 2010

DOI: http://dx.doi.org/10.5089/9781455206704.002

ISBN: 9781455206704

Keywords: csd, collateral, credit, risk management, clearing agency

This paper discusses key findings of the Detailed Assessment of Observance of the Depository Trust Company's Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Co...