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Can Countries Manage Their Financial Conditions Amid Globalization?

Can Countries Manage Their Financial Conditions Amid Globalization? »

Source: Can Countries Manage Their Financial Conditions Amid Globalization?

Volume/Issue: 2018/15

Series: IMF Working Papers

Author(s): Nicolas Arregui , Selim Elekdag , R. Gelos , Romain Lafarguette , and Dulani Seneviratne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2018

ISBN: 9781484338612

Keywords: Monetary policy, Financial conditions, international policy transmission, Financial Markets and the Macroeconomy, General, General, General

This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of adva...

World Economic Outlook, October 2016
			: Subdued Demand: Symptoms and Remedies

World Economic Outlook, October 2016 : Subdued Demand: Symptoms and Remedies »

Series: World Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2016

DOI: http://dx.doi.org/10.5089/9781513599540.081

ISBN: 9781513599540

Keywords: World Economic Outlook, International trade, General Agreement on Tariffs and Trade, Discriminatory trade practices, International trade agreements, Trade, Trade liberalization, Trade policy, Global trade, Restraint of trade

According to the October 2016 "World Economic Outlook," global growth is projected to slow to 3.1 percent in 2016 before recovering to 3.4 percent in 2017. The forecast, revised down by 0.1 percentage point for 201...

The Global Macrofinancial Model

The Global Macrofinancial Model »

Source: The Global Macrofinancial Model

Volume/Issue: 2018/81

Series: IMF Working Papers

Author(s): Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 April 2018

ISBN: 9781484350706

Keywords: Monetary policy; Fiscal policy; Macroprudential policy; Spillovers; Forecasting; Dynamic stochastic general equilibrium model; World economy

This paper documents the theoretical structure and empirical properties of the latest version of the Global Macrofinancial Model (GFM). This dynamic stochastic general equilibrium model of the world economy, disagg...

Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies

Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies »

Source: Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies

Volume/Issue: 2017/56

Series: IMF Working Papers

Author(s): Joseph Gagnon , Tamim Bayoumi , Juan Londono , Christian Saborowski , and Horacio Sapriza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2017

ISBN: 9781475586237

Keywords: Foreign exchange intervention, current account balance, unconventional monetary policy, quantitative easing, General, General

This paper explores the effects of unconventional monetary and exchange rate policies. We find that official foreign asset purchases have large effects on current accounts that diminish as capital mobility rises an...

Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis1

Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis1 »

Source: Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis

Volume/Issue: 2017/101

Series: IMF Working Papers

Author(s): Ashraf Khan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2017

ISBN: 9781475595802

Keywords: Financial crisis, Financial stability, Governance, Central banking, law, financial supervision, independence, autonomy, monetary policy, International Relations and International Political Economy: General

Drawing on the 2016 update of the IMF's Central Bank Legislation Database, this paper examines differences in central bank legal frameworks before and after the Global Financial Crisis. Examples from select countri...

Policy Uncertainty in Japan

Policy Uncertainty in Japan »

Source: Policy Uncertainty in Japan

Volume/Issue: 2017/128

Series: IMF Working Papers

Author(s): Elif Arbatli , Steven Davis , Arata Ito , Naoko Miake , and Ikuo Saito

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 May 2017

ISBN: 9781484300671

Keywords: Asia and Pacific, Japan, Policy uncertainty, aggregate investment, General, Monetary Policy (Targets, Instruments, and Effects)

We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper articles that c...

Monetary Policy and Inflation Dynamics in ASEAN Economies

Monetary Policy and Inflation Dynamics in ASEAN Economies »

Source: Monetary Policy and Inflation Dynamics in ASEAN Economies

Volume/Issue: 2018/147

Series: IMF Working Papers

Author(s): Geraldine Dany-Knedlik , and Juan Angel Garcia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2018

ISBN: 9781484363041

Keywords: Inflation expectations, Monetary policy, Phillips curve, ASEAN countries, Time-Series Models, General

This paper investigates the evolution of inflation dynamics in the five largest ASEAN countries between 1997 and 2017. To account for changes in the monetary policy frameworks since the Asian Financial Crisis (AFC)...

An Index for Transparency for Inflation-Targeting Central Banks: Application to the Czech National Bank

An Index for Transparency for Inflation-Targeting Central Banks: Application to the Czech National Bank »

Source: An Index for Transparency for Inflation-Targeting Central Banks: Application to the Czech National Bank

Volume/Issue: 2018/210

Series: IMF Working Papers

Author(s): Rania Al-Mashat , Ales Bulir , N. Nergiz Dinçer , Tibor Hlédik , Tomás Holub , Asya Kostanyan , Douglas Laxton , Armen Nurbekyan , Rafael Portillo , and Hou Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2018

ISBN: 9781484374832

Keywords: Central banks, Czech Republic, Europe, Inflation targeting, Monetary policy, Transparency, General

This paper develops a new central bank transparency index for inflation-targeting central banks (CBT-IT index). It applies the CBT-IT index to the Czech National Bank (CNB), one of the most transparent inflation-ta...

No Business Taxation Without Model Representation

No Business Taxation Without Model Representation »

Source: No Business Taxation Without Model Representation : Adding Corporate Income and Cash Flow Taxes to GIMF

Volume/Issue: 2017/259

Series: IMF Working Papers

Author(s): Benjamin Carton , Emilio Fernández Corugedo , and Benjamin Hunt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2017

ISBN: 9781484326015

Keywords: tax policy; business taxation; financial accelerator; corporate leverage; dynamic stochastic general equilibrium models; macroeconomic interdependence; tax policy; business taxation; dynamic stochastic general equilibrium models; macroeconomic interdependence; Forecasting and Simulation; Monetary Policy (Targets; Instruments; and Effects); Open Economy Macroeconomics

The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed at the International Monetary Fund for policy analysis and international economic research. This paper...

Policy, Risk and Spillover Analysis in the World Economy

Policy, Risk and Spillover Analysis in the World Economy »

Source: Policy, Risk and Spillover Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Volume/Issue: 2017/89

Series: IMF Working Papers

Author(s): Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2017

ISBN: 9781475592757

Keywords: Monetary policy analysis; Fiscal policy analysis; Macroprudential policy analysis; Spillover analysis; Forecasting; World economy; Bayesian econometrics, Monetary policy analysis, Fiscal policy analysis, Macroprudential policy analysis, Spillover analysis, Forecasting, World economy, Bayesian econometrics, Bayesian Analysis, Models with Panel Data

This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies, to facilitate multilaterally consistent macrofinancial policy, risk and spillover analysis....