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The Output Decline in Asian Crisis Countries
			: Investment Aspects

The Output Decline in Asian Crisis Countries : Investment Aspects »

Volume/Issue: 2002/25

Series: IMF Working Papers

Author(s): Joshua Greene

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451844276.001

ISBN: 9781451844276

Keywords: output decline, asian crisis, balance sheet, private capital, private capital flows, private investment, capital flows, capital inflows, Macroeconomics: Production, Macroeconomics: Consumption

This paper examines whether capital outflows may have contributed to output declines during the Asian Crisis by reducing the financing available for domestic investment. Panel data regressions suggest a positive, s...

A Macro Model of the Credit Channel in a Currency Union Member
			: The Case of Benin

A Macro Model of the Credit Channel in a Currency Union Member : The Case of Benin »

Volume/Issue: 2010/191

Series: IMF Working Papers

Author(s): Issouf Samaké

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455202256.001

ISBN: 9781455202256

Keywords: Benin; Credit channel, government bonds, general equilibrium, stochastic simulation, bonds, reserve requirement, monetary policy, central bank, Simulation Methods, Macroeconomics: Production

This paper applies and extends a theoretical model built by Agénor and Montiel (2007) by exploring the effectiveness of government bonds and monetary policy in a small, open, credit-based economy with a fixed excha...

Macrofinancial Modeling At Central Banks
			: Recent Developments and Future Directions

Macrofinancial Modeling At Central Banks : Recent Developments and Future Directions »

Volume/Issue: 2012/21

Series: IMF Working Papers

Author(s): Jan Vlcek , and Scott Roger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463931834.001

ISBN: 9781463931834

Keywords: Monetary policy analysis, financial frictions, macroeconomic modeling, banking, bank capital, financial stability, banking sector, interbank market, Macroeconomics: Consumption, Saving

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and finan...

Fire Sales and the Financial Accelerator

Fire Sales and the Financial Accelerator »

Volume/Issue: 2010/141

Series: IMF Working Papers

Author(s): Woon Choi , and David Cook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201242.001

ISBN: 9781455201242

Keywords: fire sales, financial accelerator, endogenous recovery rate, financial shock, liquidity spiral, collateral, inflation, monetary policy, inflation targeting, real interest rates

During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates...

Population Aging and its Macroeconomic Implications
			: A Framework for Analysis

Population Aging and its Macroeconomic Implications : A Framework for Analysis »

Volume/Issue: 2002/16

Series: IMF Working Papers

Author(s): Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451843415.001

ISBN: 9781451843415

Keywords: Population Aging, saving, birth rate, birth, birth ? rate, birth rates, population growth, Macroeconomics: Consumption, Production, Employment

This paper develops a model to examine the macroeconomic implications of population aging. Using a general equilibrium framework, the analysis examines the various channels through which changes in demographics aff...

Hong Kong Special Administrative Region
			: Macroeconomic Impact of an Aging Population in a Highly Open Economy

Hong Kong Special Administrative Region : Macroeconomic Impact of an Aging Population in a Highly Open Economy »

Volume/Issue: 2006/87

Series: IMF Working Papers

Author(s): Lamin Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451863475.001

ISBN: 9781451863475

Keywords: Productivity Growth, Fiscal Impact, Health Care Costs, pension, health care, elderly, dependency, Macroeconomics: Consumption, Saving, Production

Hong Kong SAR's population is aging rapidly. This paper concludes that, without a change in policies, aging could adversely affect growth and living standards. While higher labor productivity growth and increased m...

Debt, Deficits, and Age-Specific Mortality

Debt, Deficits, and Age-Specific Mortality »

Volume/Issue: 2002/19

Series: IMF Working Papers

Author(s): Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451843750.001

ISBN: 9781451843750

Keywords: Ricardian Equivalence, Saving, mortality rates, mortality rate, birth, birth rate, death rate, Macroeconomics: Consumption, Production, Employment

This paper develops an overlapping agents model with age-specific mortality rates. The analytical framework also nests Blanchard's (1985) "perpetual youth" model as a special, though perhaps not realistic, case. Wi...

How Much Is Enough? Monte Carlo Simulations of an Oil Stabilization Fund for Nigeria

How Much Is Enough? Monte Carlo Simulations of an Oil Stabilization Fund for Nigeria »

Volume/Issue: 2006/142

Series: IMF Working Papers

Author(s): Ulrich Bartsch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

DOI: http://dx.doi.org/10.5089/9781451864021.001

ISBN: 9781451864021

Keywords: Oil stabilization fund, Monte Carlo simulation, fiscal policy, fiscal spending, government spending, government revenue, Macroeconomics: Consumption, Saving, Production, Employment

In oil-dependent countries, a major issue is how to stabilize fiscal spending when government revenue fluctuates along with the international price of oil. A stabilization fund would allow the government to pull th...

Debt Dynamics and Global Imbalances

Debt Dynamics and Global Imbalances »

Source: Debt Dynamics and Global Imbalances : Some Conventional Views Reconsidered

Volume/Issue: 2007/4

Series: IMF Working Papers

Author(s): Guy Meredith

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

ISBN: 9781451865684

Keywords: Debt Dynamics, International Adjustment, exchange rate, current account, real exchange rate, external debt, current account deficit, Forecasting and Other Model Applications, Consumer Economics: Theory, Macroeconomics: Consumption

We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to...

Debt Dynamics and Global Imbalances
			: Some Conventional Views Reconsidered

Debt Dynamics and Global Imbalances : Some Conventional Views Reconsidered »

Volume/Issue: 2007/4

Series: IMF Working Papers

Author(s): Guy Meredith

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

DOI: http://dx.doi.org/10.5089/9781451865684.001

ISBN: 9781451865684

Keywords: Debt Dynamics, International Adjustment, exchange rate, current account, real exchange rate, external debt, current account deficit, Forecasting and Other Model Applications, Consumer Economics: Theory, Macroeconomics: Consumption

We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to...