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Implications of More Precise Information for Technological Development and Welfare

Implications of More Precise Information for Technological Development and Welfare »

Source: Implications of More Precise Information for Technological Development and Welfare

Volume/Issue: 2007/95

Series: IMF Working Papers

Author(s): Bernhard Eckwert , and Burkhard Drees

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866599

Keywords: information, technological development, growth, risk sharing, information system, information systems, Exchange and Production Economies, Information And Uncertainty,

This paper analyzes the dynamic interactions between the precision of information, technological development, and welfare within an overlapping generations model. More precise information about idiosyncratic produc...

Limits of Conditionality in Poverty Reduction Programs

Limits of Conditionality in Poverty Reduction Programs »

Source: Limits of Conditionality in Poverty Reduction Programs

Volume/Issue: 2002/115

Series: IMF Working Papers

Author(s): Giovanni Dell'Ariccia , and Tito Cordella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2002

ISBN: 9781451853872

Keywords: Asymmetric Information, social spending, poverty alleviation, Information And Uncertainty, Welfare And Poverty,

When donors and recipients have different preferences over budgetary allocations, conditionality helps the implementation of donor-financed poverty reduction programs. However, if donors cannot perfectly monitor al...

Why is Micro Evidenceon the Effects of Uncertainty Not Replicated in Macro Data?

Why is Micro Evidenceon the Effects of Uncertainty Not Replicated in Macro Data? »

Source: Why is Micro Evidenceon the Effects of Uncertainty Not Replicated in Macro Data?

Volume/Issue: 2005/158

Series: IMF Working Papers

Author(s): Domenico Lombardi , and Stephen Bond

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2005

ISBN: 9781451861778

Keywords: Aggregation, Uncertainty, equation, capital stock, equations, correlation, linear trend, Intertemporal Firm Choice and Growth, Investment, or Financing

This study investigates the relationship between uncertainty and investment using U.K. data at different levels of aggregation. Motivated by a comparative econometric analysis using a firm-level panel and aggregate...

Welfare Effects of Transparency in Foreign Exchange Markets

Welfare Effects of Transparency in Foreign Exchange Markets »

Source: Welfare Effects of Transparency in Foreign Exchange Markets : The Role of Hedging Opportunities

Volume/Issue: 2002/219

Series: IMF Working Papers

Author(s): Burkhard Drees , and Bernhard Eckwert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451875188

Keywords: information, foreign exchange, foreign exchange market, exchange rate, currency risk, futures market, Exchange and Production Economies, Information And Uncertainty,

This paper studies the impact of enhanced transparency on risk sharing opportunities in the foreign exchange market and the associated implications for ex ante welfare. Transparency is measured in this model by the...

Imperfect Information and Saving in a Small Open Economy

Imperfect Information and Saving in a Small Open Economy »

Source: Imperfect Information and Saving in a Small Open Economy

Volume/Issue: 2011/60

Series: IMF Working Papers

Author(s): Agustin Roitman , and Christian Daude

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455221042

Keywords: saving, uncertainty, Bayesian learning, Markov switching, autocorrelation, stochastic process, correlation, probabilities, statistics, Asymmetric and Private Information,

Emerging markets are more volatile and face different types of shocks, in size and nature, compared to their developed counterparts. Accurate identification of the stochastic properties of shocks is difficult. We s...

To Buy or Not to Buy? Uncertainty, Irreversibility and Heterogeneous Investment Dynamics in Italian Company Data

To Buy or Not to Buy? Uncertainty, Irreversibility and Heterogeneous Investment Dynamics in Italian Company Data »

Source: To Buy or Not to Buy? Uncertainty, Irreversibility and Heterogeneous Investment Dynamics in Italian Company Data

Volume/Issue: 2004/104

Series: IMF Working Papers

Author(s): Domenico Lombardi , and Stephen Bond

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451948011

Keywords: Real Options, Panel Data, capital stock, survey, equations, measure of uncertainty, cost of capital, Intertemporal Firm Choice and Growth, Investment, or Financing

This study tests for the presence of real options effects induced by uncertainty and (partial) irreversibility on fixed capital investment using Italian company data. The approach recognizes that firm-level investm...

Institutional Quality, Knightian Uncertainty, and Insurability

Institutional Quality, Knightian Uncertainty, and Insurability »

Source: Institutional Quality, Knightian Uncertainty, and Insurability : A Cross-Country Analysis

Volume/Issue: 2006/179

Series: IMF Working Papers

Author(s): S. Erbas , and Chera Sayers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2006

ISBN: 9781451864397

Keywords: Institutional Quality, Knightian Uncertainty, Insurability, non-life insurance, life insurance, insurance markets, insurance coverage, Comparative Studies of Countries, Information And Uncertainty,

Knightian uncertainty (ambiguity) implies presence of uninsurable risks. Institutional quality may be a good indicator of Knightian uncertainty. This paper correlates non-life insurance penetration in 70 countries...

Unconditional IMF Financial Support and Investor Moral Hazard

Unconditional IMF Financial Support and Investor Moral Hazard »

Source: Unconditional IMF Financial Support and Investor Moral Hazard

Volume/Issue: 2007/104

Series: IMF Working Papers

Author(s): Jun Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

ISBN: 9781451866681

Keywords: Coordination failure, IMF bailout, probability, private investors, equations, Information, Knowledge, and Uncertainty: General, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

This paper develops a simple model of international lending, and calibrates it to assess quantitatively the effects of contingent IMF financial support on the risk premiums and the crisis probability. In the model,...

Transparency and International Investor Behavior

Transparency and International Investor Behavior »

Source: Transparency and International Investor Behavior

Volume/Issue: 2002/174

Series: IMF Working Papers

Author(s): Shang-Jin Wei , and R. Gelos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451858709

Keywords: portfolio investment, international investors, international financial architecture, contagion, investors, asian crisis, accounting standards, International Finance: General, Information, Knowledge

Does country "transparency" affect international portfolio investment? We examine this and related questions using a unique micro dataset on international portfolio holdings. We employ various indices of government...

The Role of Monthly Economic Statistical Bulletins

The Role of Monthly Economic Statistical Bulletins »

Source: The Role of Monthly Economic Statistical Bulletins

Volume/Issue: 2002/9

Series: IMF Policy Discussion Papers

Author(s): Claudia Dziobek , and Mei Jin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2002

ISBN: 9781451970562

Keywords: Central banks and their policies, Technical Assistance, Economic information, statistical capacity building, central banks, central bank, balance of payments, industrial countries, government debt, Relation of Economics to Social Values

Monthly economic statistical bulletins issued by central banks and national statistical offices, the focus of this study, are well established in countries with advanced statistical systems. Such bulletins present...