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Western Hemisphere > Argentina

You are looking at 1 - 10 of 18 items for :

  • Type: Journal Issue x
  • Energy: Demand and Supply; Prices x
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Cover IMF Working Papers
Spillovers from Large Emerging Economies: How Dominant Is China?
Hany Abdel-Latif
and
Adina Popescu
This paper investigates the global economic spillovers emanating from G20 emerging markets (G20-EMs), with a particular emphasis on the comparative influence of China. Employing a Bayesian Global Vector Autoregression (GVAR) model, we assess the impacts of both demand-side and supply-side shocks across 63 countries, capturing the nuanced dynamics of global economic interactions. Our findings reveal that China's contribution to global economic spillovers significantly overshadows that of other G20-EMs. Specifically, China's domestic shocks have significantly larger and more pervasive spillover effects on global GDP, inflation and commodity prices compared to shocks from other G20-EMs. In contrast, spillovers from other G20-EMs are more regionally contained with modest global impacts. The study underscores China's outsized role in shaping global economic dynamics and the limited capacity of other G20-EMs to mitigate any potential negative implications from China's economic slowdown in the near term.
Keywords:
Emerging Economies; Growth Spillover; Global transmission; GVAR model; outsized role; China's contribution; IMF working paper No. 25/27; domestic shock; Spillovers; Supply shocks; Emerging and frontier financial markets; Oil prices; Global value chains; Global
Cover IMF Staff Country Reports
Argentina: First Review Under the Extended Arrangement Under the Extended Fund Facility, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Argentina
International Monetary Fund. Western Hemisphere Dept.
First Review under the Extended Arrangement under the Extended Fund Facility, Request for Modification of Performance Criteria, and Financing Assurances Review
Keywords:
FX policy framework; credit policy; monetary policy transmission; deficit target; expenditure growth; Inflation; Government debt management; Energy subsidies; Reserves accumulation; Global
Cover IMF Working Papers
Pricing Sovereign Debt in Resource-Rich Economies
Thomas McGregor
How do oil price movements affect sovereign spreads in an oil-dependent economy? I develop a stochastic general equilibrium model of an economy exposed to co-moving oil price and output processes, with endogenous sovereign default risk. The model explains a large proportion of business cycle fluctuations in interest-rate spreads in oil-exporting emerging market economies, particularly the countercyclicallity of interest rate spreads and oil prices. Higher risk-aversion, more impatient governments, larger oil shares and a stronger correlation between domestic output and oil price shocks all lead to stronger co-movements between risk premiums and the oil price.
Keywords:
WP; oil price; open economy; Risk premium; natural resources; sovereign debt; and default; development; cost parameter; policy makers; oil revenue cost; standard deviation terms; equilibrium bond price; oil price volatility; oil revenue cost of default; oil price state; steady-state price; steady state bond price; output volatility; Oil prices; Emerging and frontier financial markets; Asset prices; Consumption; Oil; gas and mining taxes; Global; Sub-Saharan Africa; Asia and Pacific
Cover IMF Research Bulletin
IMF Research Bulletin, September 2016
International Monetary Fund. Research Dept.
The September 2016 issue of the IMF Research Bulletin includes the following two Research Summaries: “A New Look at Bank Capital” (by Jihad Dagher, Giovanni Dell’Ariccia, Luc Laeven, Lev Ratnovski, and Hui Tong) and “Does Growth Create Jobs?: Evidence for Advance and Developing Economies (by Zidong An, Nathalie Gonzalez Prieto, Prakash Loungani, and Saurabh Mishra). The Q&A article by Rabah Arezki discusses “Seven Questions on Rethinking the Oil Market in the Aftermath of the 2014-16 Price Slump.” A listing of recent IMF Working Papers, Staff Discussion Notes, and Recommended Readings from IMF Publications are also included. Readers can also find an announcement on the 2016 Annual Research Conference and links to top cited 2015 articles in the IMF Economic Review.
Keywords:
IRB; IMF research bulletin; href; Journal citation report; Policy response; journal website; paperback ISBN 978-1-49832-468-7; research journal; Mundell-Fleming Lecture; Banking crises; Oil prices; Oil; Capital adequacy requirements; Global; Eastern Europe; Sub-Saharan Africa; Middle East and Central Asia; Asia and Pacific
Cover Perspectivas económicas regionales, octubre de 2015: Departamento del Hemisferio Occidental
Perspectivas económicas regionales, octubre de 2015: Departamento del Hemisferio Occidental
Ajustando bajo presión
International Monetary Fund. Western Hemisphere Dept.

Abstract

Perspectivas económicas regionales, octubre de 2015: Departamento del Hemisferio Occidental

Keywords:
REO; economy; interest rate; LAC; market; rate
Cover Regional Economic Outlook, October 2015: Western Hemisphere Department
Regional Economic Outlook, October 2015: Western Hemisphere Department
Adjusting Under Pressure
International Monetary Fund. Western Hemisphere Dept.

Abstract

Economies in the Western Hemisphere are generally seeing a slowdown in growth. The U.S. economy regained momentum after a slow start at the beginning of the year, while in Latin America and the Caribbean economic activity continues to decelerate. Stronger U.S. growth should benefit countries in the region, especially those with tighter links through trade, remittances, and tourism (Mexico, Central America, and the Caribbean). Weaker commodity prices for the foreseeable future, however, will continue to hurt South America's net commodity exporters, lowering national incomes, reducing investment, and worsening fiscal balances. These developments could, in turn, impede progress made in recent years in poverty reduction. These developments could, in turn, impede progress made in recent years in poverty reduction. Key risks, including an abrupt tightening of U.S. interest rates or a further slowdown in China, may disproportionately affect Latin America. Chapters in this report examine monetary policy in Latin America, including the region’s exposure to global financial shocks; the role of value chains and regional trade agreements in fostering trade integration; and financial market development in the region.

Keywords:
REO; economy; interest rate; LAC; market; rate; inflation expectation; IMF staff calculation; commodity exporter; commodity price; dollarized economy; market efficiency; Financial sector development; Commodity prices; Oil prices; Inflation; Exports; Global; Caribbean; Asia and Pacific; Central America; South America; debt management strategy; efficiency gap; market development
Cover IMF Survey
Bulletin du FMI vol. 36, n° 8, mai 2007
International Monetary Fund. External Relations Dept.
En mettant l’accent sur le travail du FMI et sur les grandes questions macroéconomiques et financières internationales, le Bulletin du FMI présente une analyse des développements nationaux, régionaux et mondiaux, des informations sur le travail, les politiques, les réformes et les activités d'assistance technique du FMI, les conclusions d'études de calibre mondial, des données essentielles qui ne sont souvent pas disponibles ailleurs, ainsi que des rapports sur les discussions économiques et financières au sein du FMI et ailleurs. Publié douze fois par an, ce bulletin de seize pages s'adresse à un large public : dirigeants, analystes, chercheurs, étudiants et journalistes. Disponible en anglais, français et espagnol.
Keywords:
SV; print version of IMF Survey; IMF Survey; SDR; price
Cover IMF Survey
Boletín del FMI Vol.36, No.08 mayo 2007
International Monetary Fund. External Relations Dept.
El Boletín del FMI aborda de manera específica el trabajo del FMI y los grandes temas macroeconómicos y financieros internacionales y ofrece análisis sobre la evolución en los distintos países y regiones y en el mundo; información sobre las operaciones, políticas, reformas y asistencia técnica del FMI; síntesis de las principales investigaciones económicas mundiales; datos fundamentales que no suelen estar disponibles en otras fuentes, e informes sobre debates económicos y financieros que tienen lugar dentro y fuera del FMI. Este boletín de 16 páginas, publicado 12 veces al año, está orientado a una vasta audiencia, que incluye autoridades de política económica, analistas, profesionales del mundo académico y de los medios de difusión y estudiantes. Disponible en inglés, español y francés.
Keywords:
SV; print version of IMF Survey; IMF Survey; SDR; price
Cover IMF Survey
IMF Survey, Volume 36 Issue 08
International Monetary Fund. External Relations Dept.
De Rato on hedge funds and trade; Portugal on IMF technical assistance; Latin American growth; Iraq reforms economy; debt restructuring in eight countries; IMF research: investment, reserves, inflation; exchange rate adjustment and global imbalances.
Keywords:
SV; print version of IMF Survey; IMF Survey; SDR; price; IMF quota; IMF's e-mail notification service; unit of account of the IMF; Debt relief; Fuel prices; Central bank autonomy; Inflation; Hedge funds; Global; Africa; East Asia; Europe; Western Hemisphere
Cover IMF Working Papers
Modeling Aggregate Use of Fund Resources—Analytical Approaches and Medium-Term Projections
Mr. Atish R. Ghosh
,
Mr. Juan Zalduendo
,
Ms. Manuela Goretti
,
Mr. Bikas Joshi
, and
Mr. Alun H. Thomas
This paper presents two approaches to modeling the use of IMF resources in order to gauge whether the recent decline in credit outstanding is a temporary or a permanent phenomenon. The two approaches-the time series behavior of credit outstanding and a two-stage program selection and access model-yield the same conclusion: the use of IMF resources is likely to decline sharply. Specifically, credit outstanding is projected to decline from an average of SDR 50 billion over 2000?05 to SDR 8 billion over 2006?10. Stochastic simulations suggest that it is unlikely to be much higher. These results are based on WEO projections with a correction for historically-observed over-optimistic biases. Alternative scenarios assuming a weaker economic performance or a less benign global environment do not alter these results.
Keywords:
WP; IMF resource; IMF credit; SDR; time series