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Criteria of External Sustainability

Criteria of External Sustainability »

Source: Criteria of External Sustainability

Volume/Issue: 1988/60

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 1988

ISBN: 9781451965209

Keywords: current account, current account balance, current account imbalances, foreign debt, current account imbalance

This paper analyzes the main conceptual issues that arise in assessing external sustainability with a view toward developing operational criteria for the purposes of multilateral surveillance. The main contribution...

Current Account Imbalances

Current Account Imbalances »

Source: Current Account Imbalances : Can Structural Policies Make a Difference?

Volume/Issue: 2012/61

Series: IMF Working Papers

Author(s): Anna Ivanova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

ISBN: 9781463937799

Keywords: structural policies, imbalances, current account balance, current accounts, current account surplus,

The discussion of global and regional imbalances has put the spotlight on the possible link between current accounts and structural policies. Drawing on standard empirical current account models, the paper finds th...

Herd Behavior in Financial Markets

Herd Behavior in Financial Markets »

Source: Herd Behavior in Financial Markets : An Experiment with Financial Market Professionals

Volume/Issue: 2008/141

Series: IMF Working Papers

Author(s): Marco Cipriani , and Antonio Guarino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451869996

Keywords: Herding, Contrarianism, Financial Market Professionals, trade imbalance, financial markets, probability, predictions, experimental design,

We study herd behavior in a laboratory financial market with financial market professionals. We compare two treatments, one in which the price adjusts to the order flow so that herding should never occur, and one i...

Income Inequality and Current Account Imbalances

Income Inequality and Current Account Imbalances »

Source: Income Inequality and Current Account Imbalances

Volume/Issue: 2012/8

Series: IMF Working Papers

Author(s): Romain Ranciere , Nathaniel Throckmorton , Michael Kumhof , Claire Lebarz , and Alexander Richter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463930578

Keywords: Current account imbalances, income inequality; financial liberalization., current account, current account deficit, private credit, current account balance, Income Inequality and Current Account Imbalances, Financial Liberalization,

This paper studies the empirical and theoretical link between increases in income inequality and increases in current account deficits. Cross-sectional econometric evidence shows that higher top income shares, and...

How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence

How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence »

Source: How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence

Volume/Issue: 2005/54

Series: IMF Working Papers

Author(s): Alexander Plekhanov , and Raju Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860733

Keywords: Fiscal federalism, local government, budget deficit, fiscal discipline, subnational governments, fiscal imbalances, vertical fiscal imbalances, fiscal balances, fiscal balance, State and Local Borrowing,

Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 44 countries 1982-2000, this paper provides a panel data analysis to determine the most effective borrow...

Fiscal Policy and the Current Account

Fiscal Policy and the Current Account »

Source: Fiscal Policy and the Current Account

Volume/Issue: 2010/121

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200801

Keywords: fiscal policy, external imbalances, current account, exchange rate, fiscal balance, government spending, budget balance

This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis o...

Systemic Risk, Aggregate Demand, and Commodity Prices

Systemic Risk, Aggregate Demand, and Commodity Prices »

Source: Systemic Risk, Aggregate Demand, and Commodity Prices

Volume/Issue: 2015/165

Series: IMF Working Papers

Author(s): Javier Gómez?Pineda , Dominique Guillaume , and Kadir Tanyeri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2015

ISBN: 9781513552545

Keywords: Financial linkages, Global imbalances Commodity prices, output, country risk, trade, Open Economy Macroeconomics, Forecasting and Simulation,

The paper presents a global model with systemic and country risks, as well as commodity prices.We show that systemic risk shocks have an important impact on world economic activity, with the busts in world output g...

Monetary Transmission of Global Imbalances in Asian Countries

Monetary Transmission of Global Imbalances in Asian Countries »

Source: Monetary Transmission of Global Imbalances in Asian Countries

Volume/Issue: 2010/214

Series: IMF Working Papers

Author(s): Il Lee , and Woon Choi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

ISBN: 9781455205455

Keywords: global imbalance, monetary transmission, net saving rates, dynamic panel, monetary fund, real rates, real output,

The paper explores the linkages between the global and domestic monetary gaps, and estimates the effects of monetary gaps on output growth, inflation, and net saving rates using panel data for 20 Asian countries fo...

International Capital Flows and National Creditworthiness

International Capital Flows and National Creditworthiness »

Source: International Capital Flows and National Creditworthiness : Do the Fundamental Things Apply As Time Goes By?

Volume/Issue: 1998/172

Series: IMF Working Papers

Author(s): Paul Cashin , and C. McDermott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451977523

Keywords: consumption smoothing, international capital flows, structural break, current account, current account deficit, current account imbalances, current account deficits, external liabilities

This paper examines the optimality of international capital flows to a persistent net importer of capital, Australia, during its post-capital-controls period 1984-98. The results suggest that international capital...

External Imbalances and Financial Crises

External Imbalances and Financial Crises »

Source: External Imbalances and Financial Crises

Volume/Issue: 2013/260

Series: IMF Working Papers

Author(s): Alan Taylor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2013

ISBN: 9781484322260

Keywords: financial openness, external imbalances, credit booms, recessions, recession, General, Macroeconomic Aspects of International Trade and Finance, General, International, or Comparative,

Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks withi...