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What's the Damage? Medium-term Output Dynamics After Banking Crises

What's the Damage? Medium-term Output Dynamics After Banking Crises »

Source: What's the Damage? Medium-term Output Dynamics After Banking Crises

Volume/Issue: 2009/245

Series: IMF Working Papers

Author(s): Abdul Abiad , Petya Koeva Brooks , Irina Tytell , Daniel Leigh , and Ravi Balakrishnan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2009

ISBN: 9781451873924

Keywords: macroeconomic policy, banking crises, banking, banking crisis, currency crises, Economic History: General, Macroeconomic - Aspects Of Public Finance, And General Outlook,

This paper investigates the medium-term behavior of output following banking crises, and its association with pre- and post-crisis conditions and policies. We find that output tends to be depressed substantially fo...

Fiscal Deficits and Inflation

Fiscal Deficits and Inflation »

Source: Fiscal Deficits and Inflation : A New Look at the Emerging Market Evidence

Volume/Issue: 2001/74

Series: IMF Working Papers

Author(s): Marco Terrones , and Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451849592

Keywords: inflation tax, monetary fund, inflation rates, inflation rate, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

Empirical studies have had little success in finding a statistically significant relationship between fiscal deficits and inflation in broad cross-country panels. This paper provides new econometric estimates for a...

The Choice Between External and Domestic Debt in Financing Budget Deficits

The Choice Between External and Domestic Debt in Financing Budget Deficits »

Source: The Choice Between External and Domestic Debt in Financing Budget Deficits : The Case of Central and West African Countries

Volume/Issue: 2002/79

Series: IMF Working Papers

Author(s): Philippe Beaugrand , Montfort Mlachila , and Boileau Loko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2002

ISBN: 9781451850215

Keywords: budget deficit financing, public debt, debt management, central bank, National Budget, Deficit, And Debt, macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook,

The paper reviews the principles and practical considerations involved in the choice between foreign and domestic financing of fiscal deficits, and derives a series of recommendations broadly applicable to Central...

Real Wage, Labor Productivity, and Employment Trends in South Africa

Real Wage, Labor Productivity, and Employment Trends in South Africa »

Source: Real Wage, Labor Productivity, and Employment Trends in South Africa : A Closer Look

Volume/Issue: 2012/92

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

ISBN: 9781475502824

Keywords: Real wage, wage, informal employment, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Wages, Compensation, and Labor Costs: General,

The paper looks at the dynamics of employment in South Africa and examines the factors that contributed to the job-shedding observed during the recent financial crisis. The paper finds that the rapid growth of the...

External Debt and Economic Reform

External Debt and Economic Reform »

Source: External Debt and Economic Reform : Does a Pain Reliever Delay the Necessary Treatment?

Volume/Issue: 2007/50

Series: IMF Working Papers

Author(s): Athanasios Vamvakidis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

ISBN: 9781451866148

Keywords: economic reform, external borrowing, foreign aid, external financing, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics, Macroeconomic Analyses of Economic Development,

Recent literature argues that conflict in shifting adjustment costs between different socioeconomic groups delays necessary reforms and finds that such reforms often follow economic crises. This paper expands these...

Fiscal Dominance and Inflation in the Democratic Republic of the Congo

Fiscal Dominance and Inflation in the Democratic Republic of the Congo »

Source: Fiscal Dominance and Inflation in the Democratic Republic of the Congo

Volume/Issue: 2005/221

Series: IMF Working Papers

Author(s): Jean-Claude Nachega

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

ISBN: 9781451862409

Keywords: Congo, stabilization in developing countries, money growth, money supply, monetary policy, monetary economics, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

This paper examines the fiscal dominance hypothesis in the Democratic Republic of the Congo (DRC) during 1981-2003, using multivariate cointegration analysis and vector errorcorrection modeling. Empirical results p...

Fiscal Deficits and Inflation

Fiscal Deficits and Inflation »

Source: Fiscal Deficits and Inflation

Volume/Issue: 2003/65

Series: IMF Working Papers

Author(s): Luis Catão , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451848700

Keywords: Macroeconomic Stabilization, price inflation, monetary policy, inflation tax, low inflation, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a n...

The Relationship Between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa

The Relationship Between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa »

Source: The Relationship Between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa

Volume/Issue: 2012/148

Series: IMF Working Papers

Author(s): Janet Stotsky , Manuk Ghazanchyan , Olumuyiwa Adedeji , and Nils Maehle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

ISBN: 9781475504170

Keywords: Exchange rate reforms and regimes, growth, and inflation, exchange rate, inflation, exchange rate regime, exchange rate regimes, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

This study examines the relationship between the foreign exchange regime and macroeconomic performance in Eastern Africa. The study focuses on seven countries, five of which decisively liberalized their foreign exc...

Systemic Banking Crises Database: An Update

Systemic Banking Crises Database: An Update »

Source: Systemic Banking Crises Database : An Update

Volume/Issue: 2012/163

Series: IMF Working Papers

Author(s): Fabian Valencia , and Luc Laeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

ISBN: 9781475505054

Keywords: banking, banking crises, recapitalization, bank claims, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal c...

Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy

Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy »

Source: Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy : Lessons from Gabon

Volume/Issue: 2006/193

Series: IMF Working Papers

Author(s): Jan-Peter Olters , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

ISBN: 9781451864533

Keywords: Sustainable fiscal policy, habit formation, permanent-income hypothesis, primary deficit, oil production, government spending, oil reserves, Macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook

While models based on Friedman's (1957) permanent-income hypothesis can provide oilproducing countries with long-run fiscal targets, they usually abstract from short-run costs associated with consolidation. This pa...