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Macroeconomic Model Spillovers and  Their Discontents

Macroeconomic Model Spillovers and Their Discontents »

Volume/Issue: 2013/4

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 January 2013

DOI: http://dx.doi.org/10.5089/9781475519860.001

ISBN: 9781475519860

Keywords: Growth spillovers, macroeconomic models, international financial links, bond, bond yields, financial market, financial markets, Financial Markets and the Macroeconomy, International Policy Coordination and Transmission, Forecasting and Simulation,

The Great Recession underlined that policies in some countries can have profound spillovers elsewhere. Sadly, the solution of simulating large macroeconomic models to measure these spillovers has been found wanting...

Macroeconomic Model Spillovers and  Their Discontents1

Macroeconomic Model Spillovers and Their Discontents1 »

Source: Macroeconomic Model Spillovers and Their Discontents

Volume/Issue: 2013/4

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 January 2013

ISBN: 9781475519860

Keywords: Growth spillovers, macroeconomic models, international financial links, bond, bond yields, financial market, financial markets, Financial Markets and the Macroeconomy, International Policy Coordination and Transmission, Forecasting and Simulation,

The Great Recession underlined that policies in some countries can have profound spillovers elsewhere. Sadly, the solution of simulating large macroeconomic models to measure these spillovers has been found wanting...

Global Bonding

Global Bonding »

Source: Global Bonding : Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets?

Volume/Issue: 2012/298

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Trung Bui

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2012

ISBN: 9781475586633

Keywords: Identification, international financial linkages, bond, equity markets, bond yields, financial markets, Estimation, Time-Series Models, General,

This paper uses a novel variant of identification through hetroscedacity to estimate spillovers across U.S., Euro area, Japanese, and UK government bond and equity markets in a vector autoregression. The results su...

Global Bonding
			: Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets?

Global Bonding : Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets? »

Volume/Issue: 2012/298

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Trung Bui

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2012

DOI: http://dx.doi.org/10.5089/9781475586633.001

ISBN: 9781475586633

Keywords: Identification, international financial linkages, bond, equity markets, bond yields, financial markets, Estimation, Time-Series Models, General,

This paper uses a novel variant of identification through hetroscedacity to estimate spillovers across U.S., Euro area, Japanese, and UK government bond and equity markets in a vector autoregression. The results su...

Monetary Policy Transmission in Ghana
			: Does the Interest Rate Channel Work?

Monetary Policy Transmission in Ghana : Does the Interest Rate Channel Work? »

Volume/Issue: 2011/275

Series: IMF Working Papers

Author(s): Arto Kovanen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463925314.001

ISBN: 9781463925314

Keywords: monetary policy transmission, interest rates, monetary policy, central bank, inflation, money market, Money And Interest Rates,

This paper analyzes interest rate pass-through in Ghana. Time series and bank-specific data are utilized to highlight linkages between policy, wholesale market, and retail market interest rates. Our analysis shows...

Monetary Policy Transmission in Ghana

Monetary Policy Transmission in Ghana »

Source: Monetary Policy Transmission in Ghana : Does the Interest Rate Channel Work?

Volume/Issue: 2011/275

Series: IMF Working Papers

Author(s): Arto Kovanen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463925314

Keywords: monetary policy transmission, interest rates, monetary policy, central bank, inflation, money market, Money And Interest Rates,

This paper analyzes interest rate pass-through in Ghana. Time series and bank-specific data are utilized to highlight linkages between policy, wholesale market, and retail market interest rates. Our analysis shows...

Do Fiscal Spillovers Matter?

Do Fiscal Spillovers Matter? »

Source: Do Fiscal Spillovers Matter?

Volume/Issue: 2011/211

Series: IMF Working Papers

Author(s): Sebastian Weber , and Anna Ivanova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463902315

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

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

Growth Spillover Dynamics From Crisis to Recovery

Growth Spillover Dynamics From Crisis to Recovery »

Source: Growth Spillover Dynamics From Crisis to Recovery

Volume/Issue: 2011/218

Series: IMF Working Papers

Author(s): Helene Poirson Ward , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463903510

Keywords: Growth, Crisis, Recovery, Euro zone, domestic demand, trade channels, transmission of shocks, external shocks,

Can positive growth shocks from the faster-growing countries in Europe spill over to the slower growing countries, providing useful tailwinds to their recovery process? This study investigates the potential relevan...

Do Fiscal Spillovers Matter?

Do Fiscal Spillovers Matter? »

Volume/Issue: 2011/211

Series: IMF Working Papers

Author(s): Sebastian Weber , and Anna Ivanova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

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

ISBN: 9781463902315

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

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

Growth Spillover Dynamics From Crisis to Recovery

Growth Spillover Dynamics From Crisis to Recovery »

Volume/Issue: 2011/218

Series: IMF Working Papers

Author(s): Helene Poirson Ward , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463903510.001

ISBN: 9781463903510

Keywords: Growth, Crisis, Recovery, Euro zone, domestic demand, trade channels, transmission of shocks, external shocks,

Can positive growth shocks from the faster-growing countries in Europe spill over to the slower growing countries, providing useful tailwinds to their recovery process? This study investigates the potential relevan...

The United States
			: Spillover Report:  2011 Article IV Consultation

The United States : Spillover Report: 2011 Article IV Consultation »

Volume/Issue: 2011/203

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2011

DOI: http://dx.doi.org/10.5089/9781462317349.002

ISBN: 9781462317349

Keywords: bond, bond yields, interest rates, financial market

The size of the U.S. economy and, in particular, the global dominance of its financial markets creates uniquely large policy spillovers. Concerns that the end of QE2 could lead to a rapid reversal of emerging marke...

2011 Spillover Report - Selected Issues

2011 Spillover Report - Selected Issues »

Source: The United States : Spillover Report: 2011 Article IV Consultation

Volume/Issue: 2011/203

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2011

ISBN: 9781462317349

Keywords: bond, bond yields, interest rates, financial market

The size of the U.S. economy and, in particular, the global dominance of its financial markets creates uniquely large policy spillovers. Concerns that the end of QE2 could lead to a rapid reversal of emerging marke...

The United States

The United States »

Source: The United States : Spillover Report: 2011 Article IV Consultation

Volume/Issue: 2011/203

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2011

ISBN: 9781462317349

Keywords: bond, bond yields, interest rates, financial market

The size of the U.S. economy and, in particular, the global dominance of its financial markets creates uniquely large policy spillovers. Concerns that the end of QE2 could lead to a rapid reversal of emerging marke...

Euro Area Policies

Euro Area Policies »

Source: Euro Area Policies : Spillover Report for the 2011 Article IV Consultation and Selected Issues

Volume/Issue: 2011/185

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2011

ISBN: 9781462339549

Keywords: spillovers, bond, financial markets, financial market, financial sector, Euro Area Policies:,

The euro area (EA) plays a major role in the global economy. Market perceptions of events in the EA program countries illustrate the possibility of large spillovers from the area in times of stress. The prospect of...

Euro Area Policies
			: Spillover Report for the 2011 Article IV Consultation and Selected Issues

Euro Area Policies : Spillover Report for the 2011 Article IV Consultation and Selected Issues »

Volume/Issue: 2011/185

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2011

DOI: http://dx.doi.org/10.5089/9781462339549.002

ISBN: 9781462339549

Keywords: spillovers, bond, financial markets, financial market, financial sector, Euro Area Policies:,

The euro area (EA) plays a major role in the global economy. Market perceptions of events in the EA program countries illustrate the possibility of large spillovers from the area in times of stress. The prospect of...

Japan
			: Spillover Report for the 2011 Article IV Consultation and Selected Issues

Japan : Spillover Report for the 2011 Article IV Consultation and Selected Issues »

Volume/Issue: 2011/183

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2011

DOI: http://dx.doi.org/10.5089/9781462328451.002

ISBN: 9781462328451

Keywords: interest rates, lead, trading partners, supply chain

Japan's position is one of the largest and richest economies in the world. Tokyo as a financial marketplace is not a major intermediator of global capital flows. The current macroeconomic environment is conducive t...

Japan

Japan »

Source: Japan : Spillover Report for the 2011 Article IV Consultation and Selected Issues

Volume/Issue: 2011/183

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2011

ISBN: 9781462328451

Keywords: interest rates, lead, trading partners, supply chain

Japan's position is one of the largest and richest economies in the world. Tokyo as a financial marketplace is not a major intermediator of global capital flows. The current macroeconomic environment is conducive t...

Japan: 2011 Spillover Report—Selected Issues

Japan: 2011 Spillover Report—Selected Issues »

Source: Japan : Spillover Report for the 2011 Article IV Consultation and Selected Issues

Volume/Issue: 2011/183

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2011

ISBN: 9781462328451

Keywords: interest rates, lead, trading partners, supply chain

Japan's position is one of the largest and richest economies in the world. Tokyo as a financial marketplace is not a major intermediator of global capital flows. The current macroeconomic environment is conducive t...

2011 Spillover Report—Selected Issues

2011 Spillover Report—Selected Issues »

Source: Euro Area Policies : Spillover Report for the 2011 Article IV Consultation and Selected Issues

Volume/Issue: 2011/185

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2011

ISBN: 9781462339549

Keywords: spillovers, bond, financial markets, financial market, financial sector, Euro Area Policies:,

The euro area (EA) plays a major role in the global economy. Market perceptions of events in the EA program countries illustrate the possibility of large spillovers from the area in times of stress. The prospect of...

From West to East

From West to East »

Source: From West to East : Estimating External Spillovers to Australia and New Zealand

Volume/Issue: 2011/120

Series: IMF Working Papers

Author(s): Yan Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262434

Keywords: business cyles, sample period, small sample, statistically significant, interest rates, International Policy Coordination and Transmission,

This paper examines the size and source of external spillovers to Australia and New Zealand based on a structural vector autoregression (VAR) approach. It finds that during the last decade shocks from emerging Asia...

From West to East
			: Estimating External Spillovers to Australia and New Zealand

From West to East : Estimating External Spillovers to Australia and New Zealand »

Volume/Issue: 2011/120

Series: IMF Working Papers

Author(s): Yan Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

DOI: http://dx.doi.org/10.5089/9781455262434.001

ISBN: 9781455262434

Keywords: business cyles, sample period, small sample, statistically significant, interest rates, International Policy Coordination and Transmission,

This paper examines the size and source of external spillovers to Australia and New Zealand based on a structural vector autoregression (VAR) approach. It finds that during the last decade shocks from emerging Asia...

Measuring Energy Security
			: Trends in the Diversification of Oil and Natural Gas Supplies

Measuring Energy Security : Trends in the Diversification of Oil and Natural Gas Supplies »

Volume/Issue: 2011/39

Series: IMF Working Papers

Author(s): Prakash Loungani , Frederick Joutz , and Gail Cohen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

DOI: http://dx.doi.org/10.5089/9781455217878.001

ISBN: 9781455217878

Keywords: Energy Security, Energy Independence, Diversification, OECD Energy Use, gas, natural gas, oil and gas, natural gas supplies, gas supplies, Energy: Demand and Supply

We present evidence on one facet of energy security in OECD economies - the extent of diversification in sources of oil and natural gas supplies. Viewed from the perspective of the energy-importing countries as a w...

Measuring Energy Security

Measuring Energy Security »

Source: Measuring Energy Security : Trends in the Diversification of Oil and Natural Gas Supplies

Volume/Issue: 2011/39

Series: IMF Working Papers

Author(s): Prakash Loungani , Frederick Joutz , and Gail Cohen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

ISBN: 9781455217878

Keywords: Energy Security, Energy Independence, Diversification, OECD Energy Use, gas, natural gas, oil and gas, natural gas supplies, gas supplies, Energy: Demand and Supply

We present evidence on one facet of energy security in OECD economies - the extent of diversification in sources of oil and natural gas supplies. Viewed from the perspective of the energy-importing countries as a w...

Spillovers of Domestic Shocks
			: Will They Counteract the 'Great Moderation'?

Spillovers of Domestic Shocks : Will They Counteract the 'Great Moderation'? »

Volume/Issue: 2010/78

Series: IMF Working Papers

Author(s): Ashoka Mody , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

DOI: http://dx.doi.org/10.5089/9781451982213.001

ISBN: 9781451982213

Keywords: Output growth volatility, vertical specialization, output growth, domestic shocks, global trade,

Even prior to the extreme volatility just observed, output growth volatility-following protracted decline-was flattening or mildly rising in some countries. More widespread was an increasing tendency from the mid-1...

Spillovers of Domestic Shocks

Spillovers of Domestic Shocks »

Source: Spillovers of Domestic Shocks : Will They Counteract the 'Great Moderation'?

Volume/Issue: 2010/78

Series: IMF Working Papers

Author(s): Ashoka Mody , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

ISBN: 9781451982213

Keywords: Output growth volatility, vertical specialization, output growth, domestic shocks, global trade,

Even prior to the extreme volatility just observed, output growth volatility-following protracted decline-was flattening or mildly rising in some countries. More widespread was an increasing tendency from the mid-1...

Three Cycles
			: Housing, Credit, and Real Activity

Three Cycles : Housing, Credit, and Real Activity »

Volume/Issue: 2009/231

Series: IMF Working Papers

Author(s): Natalia Tamirisa , Alain Kabundi , Deniz Igan , Francisco Nadal De Simone , and Marcelo Pinheiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

DOI: http://dx.doi.org/10.5089/9781451873788.001

ISBN: 9781451873788

Keywords: Macro-financial linkages, house prices, business cycle, lead, spillovers,

We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House pric...

Three Cycles

Three Cycles »

Source: Three Cycles : Housing, Credit, and Real Activity

Volume/Issue: 2009/231

Series: IMF Working Papers

Author(s): Natalia Tamirisa , Alain Kabundi , Deniz Igan , Francisco Nadal De Simone , and Marcelo Pinheiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

ISBN: 9781451873788

Keywords: Macro-financial linkages, house prices, business cycle, lead, spillovers,

We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House pric...

Benchmark Priors Revisited

Benchmark Priors Revisited »

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

Volume/Issue: 2009/202

Series: IMF Working Papers

Author(s): Martin Feldkircher , and Stefan Zeugner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873498

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

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

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

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

Volume/Issue: 2009/202

Series: IMF Working Papers

Author(s): Martin Feldkircher , and Stefan Zeugner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

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

ISBN: 9781451873498

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

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

Bolivia

Bolivia »

Source: Bolivia : The Hydrocarbons Boom and the Risk of Dutch Disease

Volume/Issue: 2008/154

Series: IMF Working Papers

Author(s): Eugenio Cerutti , and Mario Mansilla

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870121

Keywords: Equilibrium Real Exchange, gas, exchange rate, real exchange rate, equilibrium exchange rate,

The hydrocarbons sector has become one of the most dynamic economic activities in the Bolivian economy and the main driver of improved export performance and international reserve accumulation. The central role of...

Bolivia
			: The Hydrocarbons Boom and the Risk of Dutch Disease

Bolivia : The Hydrocarbons Boom and the Risk of Dutch Disease »

Volume/Issue: 2008/154

Series: IMF Working Papers

Author(s): Eugenio Cerutti , and Mario Mansilla

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

DOI: http://dx.doi.org/10.5089/9781451870121.001

ISBN: 9781451870121

Keywords: Equilibrium Real Exchange, gas, exchange rate, real exchange rate, equilibrium exchange rate,

The hydrocarbons sector has become one of the most dynamic economic activities in the Bolivian economy and the main driver of improved export performance and international reserve accumulation. The central role of...

Spillovers Across NAFTA

Spillovers Across NAFTA »

Volume/Issue: 2008/3

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

DOI: http://dx.doi.org/10.5089/9781451868654.001

ISBN: 9781451868654

Keywords: NAFTA, correlation, covariance, correlations,

This paper examines linkages across North America by estimating the size of spillovers from the major regions of the world-the United States, euro area, Japan, and the rest of the world-to Canada and Mexico, and de...

Spillovers Across NAFTA

Spillovers Across NAFTA »

Source: Spillovers Across NAFTA

Volume/Issue: 2008/3

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

ISBN: 9781451868654

Keywords: NAFTA, correlation, covariance, correlations,

This paper examines linkages across North America by estimating the size of spillovers from the major regions of the world-the United States, euro area, Japan, and the rest of the world-to Canada and Mexico, and de...

United States
			: Selected Issues

United States : Selected Issues »

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

DOI: http://dx.doi.org/10.5089/9781451839692.002

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

United States

United States »

Source: United States : Selected Issues

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

United States: Selected Issues

United States: Selected Issues »

Source: United States : Selected Issues

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

United States: Selected Issues

United States: Selected Issues »

Source: United States : Selected Issues

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

United States: Selected Issues

United States: Selected Issues »

Source: United States : Selected Issues

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

United States: Selected Issues

United States: Selected Issues »

Source: United States : Selected Issues

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

United States: Selected Issues

United States: Selected Issues »

Source: United States : Selected Issues

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

United States: Selected Issues

United States: Selected Issues »

Source: United States : Selected Issues

Volume/Issue: 2007/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451839692

Keywords: spillovers, industrial countries, international monetary fund, interest rates

The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a divers...

Foreign Entanglements

Foreign Entanglements »

Source: Foreign Entanglements : Estimating the Source and Size of Spillovers Across Industrial Countries

Volume/Issue: 2007/182

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867466

Keywords: international business cycles, vector autoregressions, correlation, equation, covariance,

VARs of real growth since 1970 are used to estimate spillovers between the U.S., euro area, Japan, and an aggregate of small industrial countries, which proxies for global shocks. U.S. and global shocks generate si...

Foreign Entanglements
			: Estimating the Source and Size of Spillovers Across Industrial Countries

Foreign Entanglements : Estimating the Source and Size of Spillovers Across Industrial Countries »

Volume/Issue: 2007/182

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867466.001

ISBN: 9781451867466

Keywords: international business cycles, vector autoregressions, correlation, equation, covariance,

VARs of real growth since 1970 are used to estimate spillovers between the U.S., euro area, Japan, and an aggregate of small industrial countries, which proxies for global shocks. U.S. and global shocks generate si...

An Oil and Gas Model

An Oil and Gas Model »

Volume/Issue: 2007/135

Series: IMF Working Papers

Author(s): Noureddine Krichene

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451866995.001

ISBN: 9781451866995

Keywords: elasticity, exchange rate, impulse response, interest rate, multiplier, gas, oil and gas, oil demand,

This paper formulated a short-run model, with an explicit role for monetary policy, for analyzing world oil and gas markets. The model described carefully the parameters of these markets and their vulnerability to...

An Oil and Gas Model

An Oil and Gas Model »

Source: An Oil and Gas Model

Volume/Issue: 2007/135

Series: IMF Working Papers

Author(s): Noureddine Krichene

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451866995

Keywords: elasticity, exchange rate, impulse response, interest rate, multiplier, gas, oil and gas, oil demand,

This paper formulated a short-run model, with an explicit role for monetary policy, for analyzing world oil and gas markets. The model described carefully the parameters of these markets and their vulnerability to...

Fiscal Policy and Interest Rates

Fiscal Policy and Interest Rates »

Source: Fiscal Policy and Interest Rates : How Sustainable Is The 'New Economy'?

Volume/Issue: 2006/112

Series: IMF Working Papers

Author(s): Manmohan Kumar , and David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

ISBN: 9781451863727

Keywords: international reserves, inflation, long-term interest rates, monetary fund, monetary policy

This paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of...

Fiscal Policy and Interest Rates
			: How Sustainable Is The 'New Economy'?

Fiscal Policy and Interest Rates : How Sustainable Is The 'New Economy'? »

Volume/Issue: 2006/112

Series: IMF Working Papers

Author(s): Manmohan Kumar , and David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

DOI: http://dx.doi.org/10.5089/9781451863727.001

ISBN: 9781451863727

Keywords: international reserves, inflation, long-term interest rates, monetary fund, monetary policy

This paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of...

Interest Rate Determination in Lebanon

Interest Rate Determination in Lebanon »

Volume/Issue: 2006/94

Series: IMF Working Papers

Author(s): Tushar Poddar , Mangal Goswami , Juan Sole , and Victor Echévarria Icaza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2006

DOI: http://dx.doi.org/10.5089/9781451863543.001

ISBN: 9781451863543

Keywords: eurobonds, international reserves, deposit rates, eurobond

This paper seeks to understand how interest rates are formed in Lebanon, by focusing on the pass-through from benchmark rates, prevailing liquidity conditions, and the main characteristics of the Lebanese economy,...

Interest Rate Determination in Lebanon

Interest Rate Determination in Lebanon »

Source: Interest Rate Determination in Lebanon

Volume/Issue: 2006/94

Series: IMF Working Papers

Author(s): Tushar Poddar , Mangal Goswami , Juan Sole , and Victor Echévarria Icaza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2006

ISBN: 9781451863543

Keywords: eurobonds, international reserves, deposit rates, eurobond

This paper seeks to understand how interest rates are formed in Lebanon, by focusing on the pass-through from benchmark rates, prevailing liquidity conditions, and the main characteristics of the Lebanese economy,...

Emergence of the Gulf of Guinea in the Global Economy

Emergence of the Gulf of Guinea in the Global Economy »

Source: Emergence of the Gulf of Guinea in the Global Economy : Prospects and Challenges

Volume/Issue: 2005/235

Series: IMF Working Papers

Author(s): Damian Ondo Mañe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451862546

Keywords: Natural Resource Curse, Fiscal Policies, Institutional Quality, gas, natural gas, gas production, gas flaring, gas sector, Development Planning and Policy, Economywide Country Studies

The Gulf of Guinea's tremendous potential is creating investment opportunities for the region. Some of its resources, such as oil, minerals, and forests, continue to attract significant investments whereas others,...

Emergence of the Gulf of Guinea in the Global Economy
			: Prospects and Challenges

Emergence of the Gulf of Guinea in the Global Economy : Prospects and Challenges »

Volume/Issue: 2005/235

Series: IMF Working Papers

Author(s): Damian Ondo Mañe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

DOI: http://dx.doi.org/10.5089/9781451862546.001

ISBN: 9781451862546

Keywords: Natural Resource Curse, Fiscal Policies, Institutional Quality, gas, natural gas, gas production, gas flaring, gas sector, Development Planning and Policy, Economywide Country Studies

The Gulf of Guinea's tremendous potential is creating investment opportunities for the region. Some of its resources, such as oil, minerals, and forests, continue to attract significant investments whereas others,...

In the Pipeline
			: Georgia's Oil and Gas Transit Revenues

In the Pipeline : Georgia's Oil and Gas Transit Revenues »

Volume/Issue: 2004/209

Series: IMF Working Papers

Author(s): Jonathan Dunn , Andreas Billmeier , and Bert van Selm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

DOI: http://dx.doi.org/10.5089/9781451874785.001

ISBN: 9781451874785

Keywords: Transit fees, fiscal revenue, gas, oil and gas, gas transit, oil producing, oil producing countries, Energy and the Macroeconomy,

Starting in 2005, nontax revenue in Georgia is expected to rise significantly, in the form of transit fees for oil transported through the Baku-Tbilisi-Ceyhan Oil Pipeline. Transit fees for gas transported through...

In the Pipeline

In the Pipeline »

Source: In the Pipeline : Georgia's Oil and Gas Transit Revenues

Volume/Issue: 2004/209

Series: IMF Working Papers

Author(s): Jonathan Dunn , Andreas Billmeier , and Bert van Selm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451874785

Keywords: Transit fees, fiscal revenue, gas, oil and gas, gas transit, oil producing, oil producing countries, Energy and the Macroeconomy,

Starting in 2005, nontax revenue in Georgia is expected to rise significantly, in the form of transit fees for oil transported through the Baku-Tbilisi-Ceyhan Oil Pipeline. Transit fees for gas transported through...

Multinational Enterprises, International Trade, and Productivity Growth
			: Firm-Level Evidence From the United States

Multinational Enterprises, International Trade, and Productivity Growth : Firm-Level Evidence From the United States »

Volume/Issue: 2003/248

Series: IMF Working Papers

Author(s): Stephen Yeaple , and Wolfgang Keller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2003

DOI: http://dx.doi.org/10.5089/9781451875898.001

ISBN: 9781451875898

Keywords: technology spillovers, fdi, spillovers, direct investment,

We estimate international technology spillovers to U.S. manufacturing firms via imports and foreign direct investment (FDI) between 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to...

Multinational Enterprises, International Trade, and Productivity Growth

Multinational Enterprises, International Trade, and Productivity Growth »

Source: Multinational Enterprises, International Trade, and Productivity Growth : Firm-Level Evidence From the United States

Volume/Issue: 2003/248

Series: IMF Working Papers

Author(s): Stephen Yeaple , and Wolfgang Keller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2003

ISBN: 9781451875898

Keywords: technology spillovers, fdi, spillovers, direct investment,

We estimate international technology spillovers to U.S. manufacturing firms via imports and foreign direct investment (FDI) between 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to...

The Middle East and North Africa in a Changing Oil Market

The Middle East and North Africa in a Changing Oil Market »

Series: Miscellaneous Publication (Other)

Author(s): Bright Okogu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 September 2003

DOI: http://dx.doi.org/10.5089/9781589062344.073

ISBN: 9781589062344

Keywords: opec, gas, oil market, oil prices, natural gas

The world oil market has undergone a series of changes that have reduced the share of oil in the global energy balance and, with it, the influence of Middle Eastern oil exporters. In spite of oil's loss of ground,...

The Middle East and North Africa in a Changing Oil Market

The Middle East and North Africa in a Changing Oil Market »

Source: The Middle East and North Africa in a Changing Oil Market

Series: Miscellaneous Publication (Other)

Author(s): Bright Okogu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 September 2003

ISBN: 9781589062344

Keywords: opec, gas, oil market, oil prices, natural gas

The world oil market has undergone tremendous changes in the past three decades, starting from the renegotiation of the “posted price”—a reference price on which royalties to host c...

Back Matter

Back Matter »

Source: The Middle East and North Africa in a Changing Oil Market

Series: Miscellaneous Publication (Other)

Author(s): Bright Okogu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 September 2003

ISBN: 9781589062344

Keywords: opec, gas, oil market, oil prices, natural gas

The world oil market has undergone a series of changes that have reduced the share of oil in the global energy balance and, with it, the influence of Middle Eastern oil exporters. In spite of oil's loss of ground,...

Front Matter

Front Matter »

Source: The Middle East and North Africa in a Changing Oil Market

Series: Miscellaneous Publication (Other)

Author(s): Bright Okogu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 September 2003

ISBN: 9781589062344

Keywords: opec, gas, oil market, oil prices, natural gas

The world oil market has undergone a series of changes that have reduced the share of oil in the global energy balance and, with it, the influence of Middle Eastern oil exporters. In spite of oil's loss of ground,...

Asian Flu or Wall Street Virus? Price and Volatility Spillovers of the Tech and Non-Tech Sectors in the United States and Asia

Asian Flu or Wall Street Virus? Price and Volatility Spillovers of the Tech and Non-Tech Sectors in the United States and Asia »

Source: Asian Flu or Wall Street Virus? Price and Volatility Spillovers of the Tech and Non-Tech Sectors in the United States and Asia

Volume/Issue: 2002/154

Series: IMF Working Papers

Author(s): Jorge Chan-Lau , and Iryna Ivaschenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2002

ISBN: 9781451857245

Keywords: Price spillovers, volatility spillovers, asymmetric GARCH models, spillovers, stock market, stock returns, stock price,

This paper, using T-GARCH models, finds that the United States has been the major source of price and volatility spillovers to stock markets in the Asian region during three different periods in the last decade: th...

Asian Flu or Wall Street Virus? Price and Volatility Spillovers of the Tech and Non-Tech Sectors in the United States and Asia

Asian Flu or Wall Street Virus? Price and Volatility Spillovers of the Tech and Non-Tech Sectors in the United States and Asia »

Volume/Issue: 2002/154

Series: IMF Working Papers

Author(s): Jorge Chan-Lau , and Iryna Ivaschenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2002

DOI: http://dx.doi.org/10.5089/9781451857245.001

ISBN: 9781451857245

Keywords: Price spillovers, volatility spillovers, asymmetric GARCH models, spillovers, stock market, stock returns, stock price,

This paper, using T-GARCH models, finds that the United States has been the major source of price and volatility spillovers to stock markets in the Asian region during three different periods in the last decade: th...

Azerbaijan Republic

Azerbaijan Republic »

Source: Azerbaijan Republic : Selected Issues and Statistical Appendix

Volume/Issue: 2002/41

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2002

ISBN: 9781451802559

Keywords: gas, fuel oil, oil products, crude oil, oil and gas

This Selected Issues paper and Statistical Appendix estimates the size of quasi-fiscal subsidies implicit in domestic energy policies in Azerbaijan. The paper highlights that from a consolidated public sector persp...

Azerbaijan Republic
			: Selected Issues and Statistical Appendix

Azerbaijan Republic : Selected Issues and Statistical Appendix »

Volume/Issue: 2002/41

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2002

DOI: http://dx.doi.org/10.5089/9781451802559.002

ISBN: 9781451802559

Keywords: gas, fuel oil, oil products, crude oil, oil and gas

This Selected Issues paper and Statistical Appendix estimates the size of quasi-fiscal subsidies implicit in domestic energy policies in Azerbaijan. The paper highlights that from a consolidated public sector persp...

Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union

Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union »

Source: Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union

Volume/Issue: 2002/60

Series: IMF Working Papers

Author(s): Aleh Tsyvinski , Martin Petri , and Günther Taube

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451848069

Keywords: transition countries, quasi-fiscal activities, implicit subsidies, implicit taxation, payment arrears, gas, fiscal activities, coal, fiscal deficit, Structure

A decade into the transition, many of the successor states of the former Soviet Union (FSU) continue to use energy sector quasi-fiscal activities (QFAs), especially low energy prices and the toleration of payment a...

Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union

Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union »

Volume/Issue: 2002/60

Series: IMF Working Papers

Author(s): Aleh Tsyvinski , Martin Petri , and Günther Taube

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

DOI: http://dx.doi.org/10.5089/9781451848069.001

ISBN: 9781451848069

Keywords: transition countries, quasi-fiscal activities, implicit subsidies, implicit taxation, payment arrears, gas, fiscal activities, coal, fiscal deficit, Structure

A decade into the transition, many of the successor states of the former Soviet Union (FSU) continue to use energy sector quasi-fiscal activities (QFAs), especially low energy prices and the toleration of payment a...

Issues in Global Natural Gas
			: A Primer and Analysis

Issues in Global Natural Gas : A Primer and Analysis »

Volume/Issue: 2002/40

Series: IMF Working Papers

Author(s): Bright Okogu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451845983.001

ISBN: 9781451845983

Keywords: LNG, pipeline, gas pricing, economic rent, user cost, transportation constraint, sales and purchase agreement, gas, gas market, gas trade

This paper discusses the rising profile of natural gas in global energy, factors constraining its further development, the gas contracting process, and the absence of a global market, which is analyzed in the conte...

Issues in Global Natural Gas

Issues in Global Natural Gas »

Source: Issues in Global Natural Gas : A Primer and Analysis

Volume/Issue: 2002/40

Series: IMF Working Papers

Author(s): Bright Okogu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451845983

Keywords: LNG, pipeline, gas pricing, economic rent, user cost, transportation constraint, sales and purchase agreement, gas, gas market, gas trade

This paper discusses the rising profile of natural gas in global energy, factors constraining its further development, the gas contracting process, and the absence of a global market, which is analyzed in the conte...

Lutter contre la pollution
			: Écotaxes et permis négociables

Lutter contre la pollution : Écotaxes et permis négociables »

Series: Economic Issues

Author(s): Valerie Reppelin , and John Norregaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2001

Language: French

DOI: http://dx.doi.org/10.5089/9781589060012.051

ISBN: 9781589060012

Keywords: permis négociables, pollution, dioxyde de carbone, émissions de dioxyde de carbone, polluant, lutte contre la pollution, émission, gaz à effet de serre, permis négociable, émissions de dioxyde

Cette brochure examine les avantages et inconvénients relatifs des écotaxes et des permis comme outils de maîtrise de la pollution. Alors que de nombreux pays recourent aux écotaxes, l'intérêt pour les permis négo...

Back Matter

Back Matter »

Source: Lutter contre la pollution : Écotaxes et permis négociables

Series: Economic Issues

Author(s): Valerie Reppelin , and John Norregaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2001

Language: French

ISBN: 9781589060012

Keywords: permis négociables, pollution, dioxyde de carbone, émissions de dioxyde de carbone, polluant, lutte contre la pollution, émission, gaz à effet de serre, permis négociable, émissions de dioxyde

Cette brochure examine les avantages et inconvénients relatifs des écotaxes et des permis comme outils de maîtrise de la pollution. Alors que de nombreux pays recourent aux écotaxes, l'intérêt pour les permis négo...

Front Matter

Front Matter »

Source: Lutter contre la pollution : Écotaxes et permis négociables

Series: Economic Issues

Author(s): Valerie Reppelin , and John Norregaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2001

Language: French

ISBN: 9781589060012

Keywords: permis négociables, pollution, dioxyde de carbone, émissions de dioxyde de carbone, polluant, lutte contre la pollution, émission, gaz à effet de serre, permis négociable, émissions de dioxyde

Cette brochure examine les avantages et inconvénients relatifs des écotaxes et des permis comme outils de maîtrise de la pollution. Alors que de nombreux pays recourent aux écotaxes, l'intérêt pour les permis négo...

Lutter contre la pollution

Lutter contre la pollution »

Source: Lutter contre la pollution : Écotaxes et permis négociables

Series: Economic Issues

Author(s): Valerie Reppelin , and John Norregaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2001

Language: French

ISBN: 9781589060012

Keywords: permis négociables, pollution, dioxyde de carbone, émissions de dioxyde de carbone, polluant, lutte contre la pollution, émission, gaz à effet de serre, permis négociable, émissions de dioxyde

En décembre 1997, cent soixante pays réunis à Kyoto sont convenus de réduire leurs émissions de dioxyde de carbone et d’autres gaz, à effet de serre. Le protocole de Kyoto, qui n’a...

Controlling Pollution

Controlling Pollution »

Source: Controlling Pollution : Using Taxes and Tradable Permits

Series: Economic Issues

Author(s): John Norregaard , and Valerie Reppelin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2001

ISBN: 9781589060005

Keywords: tradable permits, pollution, carbon dioxide, carbon dioxide emissions, pollutant

In December 1997, 160 nations meeting in Kyoto, Japan agreed to cut back emissions of carbon dioxide and other greenhouse gases. While ratified by only a very small number of countries so far, the “Kyoto Pro...

Controlling Pollution
			: Using Taxes and Tradable Permits

Controlling Pollution : Using Taxes and Tradable Permits »

Series: Economic Issues

Author(s): John Norregaard , and Valerie Reppelin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2001

DOI: http://dx.doi.org/10.5089/9781589060005.051

ISBN: 9781589060005

Keywords: tradable permits, pollution, carbon dioxide, carbon dioxide emissions, pollutant

Explores different ways of controlling pollution through -green-taxes or permits, and evaluates their advantages and disadvantages. While many countries use environmental taxes, interest in tradable permits is grow...

Back Matter

Back Matter »

Source: Controlling Pollution : Using Taxes and Tradable Permits

Series: Economic Issues

Author(s): John Norregaard , and Valerie Reppelin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2001

ISBN: 9781589060005

Keywords: tradable permits, pollution, carbon dioxide, carbon dioxide emissions, pollutant

Explores different ways of controlling pollution through -green-taxes or permits, and evaluates their advantages and disadvantages. While many countries use environmental taxes, interest in tradable permits is grow...

Front Matter

Front Matter »

Source: Controlling Pollution : Using Taxes and Tradable Permits

Series: Economic Issues

Author(s): John Norregaard , and Valerie Reppelin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2001

ISBN: 9781589060005

Keywords: tradable permits, pollution, carbon dioxide, carbon dioxide emissions, pollutant

Explores different ways of controlling pollution through -green-taxes or permits, and evaluates their advantages and disadvantages. While many countries use environmental taxes, interest in tradable permits is grow...

Taxes and Tradable Permits As Instruments for Controlling Pollution
			: Theory and Practice

Taxes and Tradable Permits As Instruments for Controlling Pollution : Theory and Practice »

Volume/Issue: 2000/13

Series: IMF Working Papers

Author(s): John Norregaard , and Valerie Reppelin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2000

DOI: http://dx.doi.org/10.5089/9781451842999.001

ISBN: 9781451842999

Keywords: Environment, Taxes, Environmental taxes, tradable permits, emission, pollution, emission tax, emission taxes

This paper examines the relative merits of two dominant economic instruments for reducing pollution-'green' taxes and tradable permits. Theoretically, the two instruments share many similarities, and on balance, ne...

Taxes and Tradable Permits As Instruments for Controlling Pollution

Taxes and Tradable Permits As Instruments for Controlling Pollution »

Source: Taxes and Tradable Permits As Instruments for Controlling Pollution : Theory and Practice

Volume/Issue: 2000/13

Series: IMF Working Papers

Author(s): John Norregaard , and Valerie Reppelin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2000

ISBN: 9781451842999

Keywords: Environment, Taxes, Environmental taxes, tradable permits, emission, pollution, emission tax, emission taxes

This paper examines the relative merits of two dominant economic instruments for reducing pollution-'green' taxes and tradable permits. Theoretically, the two instruments share many similarities, and on balance, ne...

Trinidad and Tobago
			: Selected Issues, Statistical Appendix

Trinidad and Tobago : Selected Issues, Statistical Appendix »

Volume/Issue: 1999/67

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 1999

DOI: http://dx.doi.org/10.5089/9781451837599.002

ISBN: 9781451837599

Keywords: gas, lng, natural gas, million tons per annum, ammonia

This Selected Issues paper and Statistical Appendix reviews developments in the energy sector of the Republic of Trinidad and Tobago during 1997-99, and assesses the outlook for energy-related industries. The paper...

Trinidad and Tobago

Trinidad and Tobago »

Source: Trinidad and Tobago : Selected Issues, Statistical Appendix

Volume/Issue: 1999/67

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 1999

ISBN: 9781451837599

Keywords: gas, lng, natural gas, million tons per annum, ammonia

This Selected Issues paper and Statistical Appendix reviews developments in the energy sector of the Republic of Trinidad and Tobago during 1997-99, and assesses the outlook for energy-related industries. The paper...

Trinidad and Tobago: Selected Issues and Statistical Appendix

Trinidad and Tobago: Selected Issues and Statistical Appendix »

Source: Trinidad and Tobago : Selected Issues, Statistical Appendix

Volume/Issue: 1999/67

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 1999

ISBN: 9781451837599

Keywords: gas, lng, natural gas, million tons per annum, ammonia

This Selected Issues paper and Statistical Appendix reviews developments in the energy sector of the Republic of Trinidad and Tobago during 1997-99, and assesses the outlook for energy-related industries. The paper...

Trinidad and Tobago: Selected Issues and Statistical Appendix

Trinidad and Tobago: Selected Issues and Statistical Appendix »

Source: Trinidad and Tobago : Selected Issues, Statistical Appendix

Volume/Issue: 1999/67

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 1999

ISBN: 9781451837599

Keywords: gas, lng, natural gas, million tons per annum, ammonia

This Selected Issues paper and Statistical Appendix reviews developments in the energy sector of the Republic of Trinidad and Tobago during 1997-99, and assesses the outlook for energy-related industries. The paper...

Romania
			: Statistical Appendix

Romania : Statistical Appendix »

Volume/Issue: 1998/123

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

DOI: http://dx.doi.org/10.5089/9781451832693.002

ISBN: 9781451832693

Keywords: lead, gas, copper, iron

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...

Romania

Romania »

Source: Romania : Statistical Appendix

Volume/Issue: 1998/123

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781451832693

Keywords: lead, gas, copper, iron

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...

Turkmenistan
			: Recent Economic Developments

Turkmenistan : Recent Economic Developments »

Volume/Issue: 1998/81

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 September 1998

DOI: http://dx.doi.org/10.5089/9781451837230.002

ISBN: 9781451837230

Keywords: gas, foreign exchange, banking, banking system, interest rates

This paper reviews economic developments in Turkmenistan during 1994-98. Turkmenistan reduced gas exports and suffered a decline in real GDP of close to 40 percent during 1993-95. At the same time, it stepped up fo...

Turkmenistan

Turkmenistan »

Source: Turkmenistan : Recent Economic Developments

Volume/Issue: 1998/81

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 September 1998

ISBN: 9781451837230

Keywords: gas, foreign exchange, banking, banking system, interest rates

This paper reviews economic developments in Turkmenistan during 1994-98. Turkmenistan reduced gas exports and suffered a decline in real GDP of close to 40 percent during 1993-95. At the same time, it stepped up fo...

Republic of Poland
			: Selected Issues and Statistical Appendix

Republic of Poland : Selected Issues and Statistical Appendix »

Volume/Issue: 1998/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 June 1998

DOI: http://dx.doi.org/10.5089/9781451831801.002

ISBN: 9781451831801

Keywords: fiscal costs, pollution, air pollution, gas, budgetary implications

This Selected Issues paper and Statistical Appendix analyzes fiscal costs associated with Poland's accession to the North Atlantic Treaty Organization and European Union (EU). The paper highlights that Poland's acc...

Republic of Poland: Selected Issues and Statistical Appendix

Republic of Poland: Selected Issues and Statistical Appendix »

Source: Republic of Poland : Selected Issues and Statistical Appendix

Volume/Issue: 1998/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 June 1998

ISBN: 9781451831801

Keywords: fiscal costs, pollution, air pollution, gas, budgetary implications

This Selected Issues paper and Statistical Appendix analyzes fiscal costs associated with Poland's accession to the North Atlantic Treaty Organization and European Union (EU). The paper highlights that Poland's acc...

Republic of Poland: Selected Issues and Statistical Appendix

Republic of Poland: Selected Issues and Statistical Appendix »

Source: Republic of Poland : Selected Issues and Statistical Appendix

Volume/Issue: 1998/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 June 1998

ISBN: 9781451831801

Keywords: fiscal costs, pollution, air pollution, gas, budgetary implications

This Selected Issues paper and Statistical Appendix analyzes fiscal costs associated with Poland's accession to the North Atlantic Treaty Organization and European Union (EU). The paper highlights that Poland's acc...

Republic of Poland: Selected Issues and Statistical Appendix

Republic of Poland: Selected Issues and Statistical Appendix »

Source: Republic of Poland : Selected Issues and Statistical Appendix

Volume/Issue: 1998/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 June 1998

ISBN: 9781451831801

Keywords: fiscal costs, pollution, air pollution, gas, budgetary implications

This Selected Issues paper and Statistical Appendix analyzes fiscal costs associated with Poland's accession to the North Atlantic Treaty Organization and European Union (EU). The paper highlights that Poland's acc...

Republic of Poland: Selected Issues and Statistical Appendix

Republic of Poland: Selected Issues and Statistical Appendix »

Source: Republic of Poland : Selected Issues and Statistical Appendix

Volume/Issue: 1998/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 June 1998

ISBN: 9781451831801

Keywords: fiscal costs, pollution, air pollution, gas, budgetary implications

This Selected Issues paper and Statistical Appendix analyzes fiscal costs associated with Poland's accession to the North Atlantic Treaty Organization and European Union (EU). The paper highlights that Poland's acc...

The Macroeconomic Effects of Environmental Taxes
			: A Closer Look at the Feasibility of 'Win-Win' Outcomes

The Macroeconomic Effects of Environmental Taxes : A Closer Look at the Feasibility of 'Win-Win' Outcomes »

Volume/Issue: 1998/75

Series: IMF Working Papers

Author(s): Jenny Ligthart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

DOI: http://dx.doi.org/10.5089/9781451849707.001

ISBN: 9781451849707

Keywords: Abatement, environmental taxes, double dividend, endogenous growth, green tax reform, optimal taxation, pollution., pollution, environment, environmental quality

This paper reviews recent literature on the macroeconomic effects of environmental taxes. It attempts to delineate the conditions under which a cleaner environment is compatible with attaining macroeconomic objecti...

The Macroeconomic Effects of Environmental Taxes

The Macroeconomic Effects of Environmental Taxes »

Source: The Macroeconomic Effects of Environmental Taxes : A Closer Look at the Feasibility of 'Win-Win' Outcomes

Volume/Issue: 1998/75

Series: IMF Working Papers

Author(s): Jenny Ligthart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781451849707

Keywords: Abatement, environmental taxes, double dividend, endogenous growth, green tax reform, optimal taxation, pollution., pollution, environment, environmental quality

This paper reviews recent literature on the macroeconomic effects of environmental taxes. It attempts to delineate the conditions under which a cleaner environment is compatible with attaining macroeconomic objecti...

Payment Arrears in the Gas and Electric Power Sectors of the Russian Federation and Ukraine

Payment Arrears in the Gas and Electric Power Sectors of the Russian Federation and Ukraine »

Volume/Issue: 1997/162

Series: IMF Working Papers

Author(s): Emine Gürgen , and Hrant Bagratian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

DOI: http://dx.doi.org/10.5089/9781451981117.001

ISBN: 9781451981117

Keywords: payments arrears, gas, electric power, electricity, electric power sectors, electric power sector

This paper discusses payments arrears in the Russian Federation and Ukraine, with emphasis on the gas and electric power sectors. Payments arrears, which were triggered primarily by the dislocations experienced dur...

Payment Arrears in the Gas and Electric Power Sectors of the Russian Federation and Ukraine

Payment Arrears in the Gas and Electric Power Sectors of the Russian Federation and Ukraine »

Source: Payment Arrears in the Gas and Electric Power Sectors of the Russian Federation and Ukraine

Volume/Issue: 1997/162

Series: IMF Working Papers

Author(s): Emine Gürgen , and Hrant Bagratian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

ISBN: 9781451981117

Keywords: payments arrears, gas, electric power, electricity, electric power sectors, electric power sector

This paper discusses payments arrears in the Russian Federation and Ukraine, with emphasis on the gas and electric power sectors. Payments arrears, which were triggered primarily by the dislocations experienced dur...

Additional Evidenceon Ems Interest Rate Linkages

Additional Evidenceon Ems Interest Rate Linkages »

Source: Additional Evidenceon Ems Interest Rate Linkages

Volume/Issue: 1996/115

Series: IMF Working Papers

Author(s): John Thornton , and Alicia García-Herrero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1996

ISBN: 9781451942941

Keywords: interest rates, cointegration, statistics, granger causality, equation

This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds t...

Additional Evidenceon Ems Interest Rate Linkages

Additional Evidenceon Ems Interest Rate Linkages »

Volume/Issue: 1996/115

Series: IMF Working Papers

Author(s): John Thornton , and Alicia García-Herrero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1996

DOI: http://dx.doi.org/10.5089/9781451942941.001

ISBN: 9781451942941

Keywords: interest rates, cointegration, statistics, granger causality, equation

This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds t...

Noise Traders and Herding Behavior

Noise Traders and Herding Behavior »

Volume/Issue: 1996/104

Series: IMF Working Papers

Author(s): Lee Redding

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1996

DOI: http://dx.doi.org/10.5089/9781451947960.001

ISBN: 9781451947960

Keywords: noise, bond, financial markets, cash flow, bonds

Recent developments in financial economics have included many explorations into market microstructure, that is, the internal functioning of markets and the ways in which they provide liquidity to traders. An import...

Noise Traders and Herding Behavior

Noise Traders and Herding Behavior »

Source: Noise Traders and Herding Behavior

Volume/Issue: 1996/104

Series: IMF Working Papers

Author(s): Lee Redding

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1996

ISBN: 9781451947960

Keywords: noise, bond, financial markets, cash flow, bonds

Recent developments in financial economics have included many explorations into market microstructure, that is, the internal functioning of markets and the ways in which they provide liquidity to traders. An import...

Turkmenistan
			: Recent Economic Developments

Turkmenistan : Recent Economic Developments »

Volume/Issue: 1996/30

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 May 1996

DOI: http://dx.doi.org/10.5089/9781451837216.002

ISBN: 9781451837216

Keywords: gas, minimum wage, interest rates, benefits, pollution

This paper reviews economic developments in Turkmenistan during 1992-96. There was a general strengthening of centralized controls during 1993-95 to protect international reserves. Monetary and exchange rate polici...

Turkmenistan

Turkmenistan »

Source: Turkmenistan : Recent Economic Developments

Volume/Issue: 1996/30

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 May 1996

ISBN: 9781451837216

Keywords: gas, minimum wage, interest rates, benefits, pollution

This paper reviews economic developments in Turkmenistan during 1992-96. There was a general strengthening of centralized controls during 1993-95 to protect international reserves. Monetary and exchange rate polici...