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Fiscal Monitor, October 2016
			: Debt: Use It Wisely

Fiscal Monitor, October 2016 : Debt: Use It Wisely »

Series: Fiscal Monitor

Author(s): Marialuz Moreno Badia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 October 2016

DOI: http://dx.doi.org/10.5089/9781513560601.089

ISBN: 9781513560601

Keywords: Debt, deleveraging, debt overhang, fiscal policy, financial crisis, recovery, debt levels, advanced economies, emerging market economies, private-sector debt

Drawing on an expanded data set covering emerging markets and low-income countries as well as advanced economies, this issue examines the extent and makeup of global debt and asks what role fiscal policy can play i...

Private Sector Deleveraging and Growth Following Busts

Private Sector Deleveraging and Growth Following Busts »

Source: Private Sector Deleveraging and Growth Following Busts

Volume/Issue: 2015/35

Series: IMF Working Papers

Author(s): Sally Chen , Minsuk Kim , Marijn Otte , Kevin Wiseman , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2015

ISBN: 9781498333405

Keywords: deleveraging, leverage cycles, growth, debt, balance sheet, debt overhang, markets, Models with Panel Data,

Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private s...

The Liquidation of Government Debt1

The Liquidation of Government Debt1 »

Source: The Liquidation of Government Debt

Volume/Issue: 2015/7

Series: IMF Working Papers

Author(s): Carmen Reinhart , and M. Belen Sbrancia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2015

ISBN: 9781484369234

Keywords: deleveraging, financial repression, debt, interest, interest rates, real interest, General, General, International, or Comparative,

High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After...

The Great Cross-Border Bank Deleveraging

The Great Cross-Border Bank Deleveraging »

Source: The Great Cross-Border Bank Deleveraging : Supply Constraints and Intra-Group Frictions

Volume/Issue: 2014/180

Series: IMF Working Papers

Author(s): Eugenio Cerutti , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2014

ISBN: 9781498354783

Keywords: Global banks, Credit supply, Deleveraging, banking, banking system, systemic crisis, Financial Markets and the Macroeconomy, Financial Aspects of Economic Integration,

International banks greatly reduced their direct cross-border and local affiliates' lending as the global financial crisis strained balance sheets, lowered borrower demand, and changed government policies. Using bi...

Risks of Stagnation in the Euro Area

Risks of Stagnation in the Euro Area »

Source: Risks of Stagnation in the Euro Area

Volume/Issue: 2016/9

Series: IMF Working Papers

Author(s): Huidan Lin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2016

ISBN: 9781513586175

Keywords: Potential growth, Deleveraging, Downside scenario, debt, investment, unemployment, inflation, Forecasting and Other Model Applications,, Europe, Euro Area

This paper discusses the risks of stagnation over the medium term in the euro area. It examines the consequences of longer-term growth trends that predate the crisis and the progress made in addressing the crisis l...

How much should I hold?  Reserve Adequacy in Emerging Markets and Small Islands

How much should I hold? Reserve Adequacy in Emerging Markets and Small Islands »

Source: How much should I hold? Reserve Adequacy in Emerging Markets and Small Islands

Volume/Issue: 2012/205

Series: IMF Working Papers

Author(s): Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505559

Keywords: Logit and quantile regression, Islands, EMP, Deleveraging, reserve holdings, short-term debt, current account, balance of payments, exchange rate regimes, International Finance Forecasting and Simulation

This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique characteristics. I...

Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten1

Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten1 »

Source: Financial and Sovereign Debt Crises : Some Lessons Learned and Those Forgotten

Volume/Issue: 2013/266

Series: IMF Working Papers

Author(s): Carmen Reinhart , and Kenneth Rogoff

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 December 2013

ISBN: 9781475552874

Keywords: sovereign debt crises, deleveraging, credit cycles, financial repression, debt restructuring., domestic debt, government debt, debt overhang, General, Financial Markets and the Macroeconomy

Even after one of the most severe multi-year crises on record in the advanced economies, the received wisdom in policy circles clings to the notion that high-income countries are completely different from their eme...

Chapter 1. Debt: Use It Wisely

Chapter 1. Debt: Use It Wisely »

Source: Fiscal Monitor, October 2016 : Debt: Use It Wisely

Series: Fiscal Monitor

Author(s): Marialuz Moreno Badia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 October 2016

ISBN: 9781513560601

Keywords: Debt, deleveraging, debt overhang, fiscal policy, financial crisis, recovery, debt levels, advanced economies, emerging market economies, private-sector debt

Introduction The global gross debt of the nonfinancial sector has more than doubled in nominal terms since the turn of the century, reaching $152 trillion in 2015....

Country Abbreviations

Country Abbreviations »

Source: Fiscal Monitor, October 2016 : Debt: Use It Wisely

Series: Fiscal Monitor

Author(s): Marialuz Moreno Badia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 October 2016

ISBN: 9781513560601

Keywords: Debt, deleveraging, debt overhang, fiscal policy, financial crisis, recovery, debt levels, advanced economies, emerging market economies, private-sector debt

Code Country name AFG Afghanistan...

Glossary

Glossary »

Source: Fiscal Monitor, October 2016 : Debt: Use It Wisely

Series: Fiscal Monitor

Author(s): Marialuz Moreno Badia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 October 2016

ISBN: 9781513560601

Keywords: Debt, deleveraging, debt overhang, fiscal policy, financial crisis, recovery, debt levels, advanced economies, emerging market economies, private-sector debt

Cyclical balance Cyclical component of the overall fiscal balance, computed as the difference between cyclical revenues and cyclical expenditures. The latter are typically computed using country...