Series: IMF Working Papers
Author(s): Jodi Scarlata , Juan Sole , and Alicia Novoa
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2009
Keywords: Procyclicality, fair value accounting, financial statements, financial stability, financial instruments, banking,
In light of the uncertainties about valuation highlighted by the 2007-2008 market turbulence, this paper provides an empirical examination of the potential procyclicality that fair value accounting (FVA) could intr...