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Precautionary Demand for Foreign Assets in Sudden Stop Economies

Precautionary Demand for Foreign Assets in Sudden Stop Economies »

Source: Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Volume/Issue: 2007/146

Series: IMF Working Papers

Author(s): Enrique Mendoza , Ceyhun Bora Durdu , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451867107

Keywords: Fisherian Deflation, Liability Dollarization, Credit Constraints, foreign assets, financial globalization, foreign asset, net foreign assets,

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest f...

Fiscal Policy Through Time-Varying Tax Rates

Fiscal Policy Through Time-Varying Tax Rates »

Source: Fiscal Policy Through Time-Varying Tax Rates : If and How

Volume/Issue: 2000/170

Series: IMF Working Papers

Author(s): Martin Kaufman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

ISBN: 9781451858419

Keywords: Counter-cyclical fiscal policy, credit constraint, hyperbolic discounting, tax rate, labor income

This paper investigates if there are circumstances where time-varying tax rates could improve welfare and whether such policy can effectively be implemented in practice. While, in principle, variable taxes could im...

U.S. Bank Behavior in the Wake of the 2007-2009 Financial Crisis

U.S. Bank Behavior in the Wake of the 2007-2009 Financial Crisis »

Source: U.S. Bank Behavior in the Wake of the 2007-2009 Financial Crisis

Volume/Issue: 2010/131

Series: IMF Working Papers

Author(s): Dalia Hakura , Ralph Chami , Thomas Cosimano , and Adolfo Barajas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455201143

Keywords: capital constraints, banking, bank holding, bank holding companies, capital ratio, bank capital, Central Banking, And The Supply Of Money And Credit, financial Institutions And Services,

The paper examines the slowdown of lending by large U.S. banks over the period 2007Q3 - 2009Q2, focusing on: (i) whether capital or liquidity was the binding constraint; (ii) factors influencing banks' decision to...

Bank Behavior in Response to Basel Iii

Bank Behavior in Response to Basel Iii »

Source: Bank Behavior in Response to Basel Iii : A Cross-Country Analysis

Volume/Issue: 2011/119

Series: IMF Working Papers

Author(s): Thomas Cosimano , and Dalia Hakura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262427

Keywords: capital constraints, equity, capital requirements, nonperforming loans, interest expense, bank capital, Central Banking, And The Supply Of Money And Credit, financial Institutions And Services,

This paper investigates the impact of the new capital requirements introduced under the Basel III framework on bank lending rates and loan growth. Higher capital requirements, by raising banks' marginal cost of fun...

Managing Credit Bubbles

Managing Credit Bubbles »

Source: Managing Credit Bubbles

Volume/Issue: 2014/95

Series: IMF Working Papers

Author(s): Alberto Martin , and Jaume Ventura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 June 2014

ISBN: 9781498307666

Keywords: rollover crises, secondary markets, crowding, capital stock, capital income, credit constraint, credit market, International Lending and Debt Problems, Financial Aspects of Economic Integration, Open Economy Macroeconomics

We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give...

Precautionary Demand for Foreign Assets in Sudden Stop Economies
			: An Assessment of the New Merchantilism

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism »

Volume/Issue: 2007/146

Series: IMF Working Papers

Author(s): Enrique Mendoza , Ceyhun Bora Durdu , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867107.001

ISBN: 9781451867107

Keywords: Fisherian Deflation, Liability Dollarization, Credit Constraints, foreign assets, financial globalization, foreign asset, net foreign assets,

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest f...

Fiscal Policy Through Time-Varying Tax Rates
			: If and How

Fiscal Policy Through Time-Varying Tax Rates : If and How »

Volume/Issue: 2000/170

Series: IMF Working Papers

Author(s): Martin Kaufman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

DOI: http://dx.doi.org/10.5089/9781451858419.001

ISBN: 9781451858419

Keywords: Counter-cyclical fiscal policy, credit constraint, hyperbolic discounting, tax rate, labor income

This paper investigates if there are circumstances where time-varying tax rates could improve welfare and whether such policy can effectively be implemented in practice. While, in principle, variable taxes could im...

U.S. Bank Behavior in the Wake of the 2007-2009 Financial Crisis

U.S. Bank Behavior in the Wake of the 2007-2009 Financial Crisis »

Volume/Issue: 2010/131

Series: IMF Working Papers

Author(s): Dalia Hakura , Ralph Chami , Thomas Cosimano , and Adolfo Barajas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

DOI: http://dx.doi.org/10.5089/9781455201143.001

ISBN: 9781455201143

Keywords: capital constraints, banking, bank holding, bank holding companies, capital ratio, bank capital, Central Banking, And The Supply Of Money And Credit, financial Institutions And Services,

The paper examines the slowdown of lending by large U.S. banks over the period 2007Q3 - 2009Q2, focusing on: (i) whether capital or liquidity was the binding constraint; (ii) factors influencing banks' decision to...

Bank Behavior in Response to Basel Iii
			: A Cross-Country Analysis

Bank Behavior in Response to Basel Iii : A Cross-Country Analysis »

Volume/Issue: 2011/119

Series: IMF Working Papers

Author(s): Thomas Cosimano , and Dalia Hakura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

DOI: http://dx.doi.org/10.5089/9781455262427.001

ISBN: 9781455262427

Keywords: capital constraints, equity, capital requirements, nonperforming loans, interest expense, bank capital, Central Banking, And The Supply Of Money And Credit, financial Institutions And Services,

This paper investigates the impact of the new capital requirements introduced under the Basel III framework on bank lending rates and loan growth. Higher capital requirements, by raising banks' marginal cost of fun...

Managing Credit Bubbles

Managing Credit Bubbles »

Volume/Issue: 2014/95

Series: IMF Working Papers

Author(s): Alberto Martin , and Jaume Ventura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 June 2014

DOI: http://dx.doi.org/10.5089/9781498307666.001

ISBN: 9781498307666

Keywords: rollover crises, secondary markets, crowding, capital stock, capital income, credit constraint, credit market, International Lending and Debt Problems, Financial Aspects of Economic Integration, Open Economy Macroeconomics

We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give...