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Business and Economics > Insurance

You are looking at 1 - 10 of 11 items for :

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Cover Consumer Price Index Manual, 2020
Consumer Price Index Manual, 2020
Concepts and Methods
International Monetary Fund
,
International Labour Office
,
Statistical Office of the European Communities
,
United Nations
,
World Bank
, and
Organization for Economic Co-operation and Development

Abstract

The Consumer Price Index Manual: Concepts and Methods contains comprehensive information and explanations on compiling a consumer price index (CPI). The Manual provides an overview of the methods and practices national statistical offices (NSOs) should consider when making decisions on how to deal with the various problems in the compilation of a CPI. The chapters cover many topics. They elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. The primary purpose of the Manual is to assist countries in producing CPIs that reflect internationally recommended methods and practices.

Keywords:
cconsumer price index; CPI; CPI Manual; CPI concepts; CPI methods; CPI practice; CPI best practice; CPI international recommendations; CPI weights; CPI data; CPI compilation; CPI calculation; index formulas; scanner data; web scraping; CPI outlets; CPI publication; CPI dissemination; CPI sampling; CPI items; CPI varieties; CPI missing prices; CPI quality adjustment; CPI linking; CPI and SNA; CPI overview; CPI data collection; CPI uses; CPI definitions; M&G; reference period; price change; price collector; price collection; CPI compiler
Cover IMF Working Papers
Intergenerational Transmission of Education in a Developing Country: Evidence from A Mass Education Program in Vietnam
Trung Hoang
and
Ha Nguyen
We study the long-run and multi-generational effects of a mass education program in Vietnam during the First Indochina War (1946-1954). Difference-in-difference estimations indicate that the children of mothers exposed to the education program had an average of 0.9 more years of education. We argue that the impact is via mother’s education. An additional year of maternal education increases children’s education by up to 0.65 years, a stronger effect than those found in the existing literature. Better household lifestyles and a stronger focus on education are possible transmission pathways.
Keywords:
mass education; human capital transmission; mother education; Vietnam; education program; ha Nguyen; household lifestyle; intergenerational transmission; Labor markets; Income; Women; Insurance; Global
Cover Consumer Price Index Manual, 2020
Consumer Price Index Manual, 2020
Concepts and Methods
Brian Graf

Abstract

The Consumer Price Index Manual: Concepts and Methods contains comprehensive information and explanations on compiling a consumer price index (CPI). The Manual provides an overview of the methods and practices national statistical offices (NSOs) should consider when making decisions on how to deal with the various problems in the compilation of a CPI. The chapters cover many topics. They elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. The primary purpose of the Manual is to assist countries in producing CPIs that reflect internationally recommended methods and practices.

Keywords:
cconsumer price index; CPI; CPI Manual; CPI concepts; CPI methods; CPI practice; CPI best practice; CPI international recommendations; CPI weights; CPI data; CPI compilation; CPI calculation; index formulas; scanner data; web scraping; CPI outlets; CPI publication; CPI dissemination; CPI sampling; CPI items; CPI varieties; CPI missing prices; CPI quality adjustment; CPI linking; CPI and SNA; CPI overview; CPI data collection; CPI uses; CPI definitions; M&G; reference period; price change; price collector; price collection; CPI compiler; Consumer price indexes; Price indexes; Consumption; Export fluctuations; Global; Europe; North America
Cover IMF Working Papers
With Great Power Comes Great Responsibility: Macroprudential Tools at Work in Canada
Mr. Ivo Krznar
and
Mr. James Morsink
The goal of this paper is to assess the effectiveness of the policy measures taken by Canadian authorities to address the housing boom. We find that the the last three rounds of macroprudential policies implemented since 2010 were associated with lower mortgage credit growth and house price growth. The international experience suggests that—in addition to tighter loan-to-value limits and shorter amortization periods—lower caps on the debt-to-income ratio and higher risk weights could be effective if the housing boom were to reignite. Over the medium term, the authorities could consider structural measures to further improve the soundness of housing finance.
Keywords:
WP; mortgage; LTV; loan; LTV ratio; housing market; mortgage insurance; macroprudential regulation; risk weight; mortgage credit; housing loan; guarantee cover; Mortgages; Loans; Housing prices; Housing; Credit; Global
Cover IMF Working Papers
Natural Disasters: Mitigating Impact, Managing Risks
Ms. Nicole Laframboise
and
Mr. Boileau Loko
This paper reviews the literature on the macroeconomic impact of natural disasters and presents the IMF’s role in assisting countries coping with natural catastrophes. Focusing on seven country cases, the paper describes the emergency financing, policy support, and technical assistance provided by the Fund to help governments put together a policy response or build a macro framework to lay the foundation for recovery and/or unlock other external financing. The literature and experience suggests there are ways to strengthen policy frameworks to increase resilience to natural disaster shocks, including identifying the risks and probability of natural disasters and integrating them more explicitly into macro frame-works, increasing flexibility within fiscal frameworks, and improving coordination amongst international partners ex post and ex ante.
Keywords:
WP; IMF financing; disaster risk financing strategy; fund emergency financing; IMF's financing instrument; contingent financing; financing catalyst; fund financing; IMF program; natural disasters; economic growth; self-insurance; buffers; private sector; Balance of payments need; Disaster aid; Emergency assistance; Insurance; Global
Cover IMF Working Papers
Irrational Exuberance in the U.S. Housing Market: Were Evangelicals Left Behind?
Mr. Christopher W. Crowe
The recent housing bust has reignited interest in psychological theories of speculative excess (Shiller, 2007). I investigate this issue by identifying a segment of the U.S. population-evangelical protestants-that may be less prone to speculative motives, and uncover a significant negative relationship between their population share and house price volatility. Evangelicals' focus on Biblical prophecy could account for this difference, since it may enable them to interpret otherwise negative events as containing positive news, dampening the response of house prices to shocks. I provide evidence for this channel using a popular internet measure of "prophetic activity" and a 9/11 event study. I also analyze survey data covering religious beliefs and asset holding, and find that 'end times' beliefs are associated with a one-third decline in net worth, consistent with these beliefs providing a form of psychic insurance (Scheve and Stasavage, 2006a and 2006b) that reduces asset demand.
Keywords:
WP; standard deviation; house prices; economics of Religion; asset price cycles; share of evangelical; dependent variable; growth series; price appreciation; population share; price volatility; evangelical area; Housing prices; Housing; Asset bubbles; Insurance; Middle East; Global
Cover IMF Working Papers
Implications of More Precise Information for Technological Development and Welfare
Mr. Bernhard Eckwert
and
Mr. Burkhard Drees
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 production shocks has ambiguous effects on technological progress and welfare, which depend critically on the risk sharing capacity of the economy's financial system. For example, we show that with efficient risk sharing more precise information adversely affects the equilibrium risk allocation and creates a negative uncertainty-related welfare effect, at the same time as it accelerates technological progress and increases R&D investment.
Keywords:
WP
Cover IMF Working Papers
Insuring Public Finances Against Natural Disasters: A Survey of Options and Recent Initiatives
Mr. David J Hofman
and
Ms. Patricia A Brukoff
Natural disasters can put severe strain on public finances, in particular in developing and small countries. But catastrophe insurance markets increasingly offer opportunities for the transfer of such risks. Thus far, developing countries have only tepidly begun to tap these opportunities. More frequent and intensive use of insurance markets may be desirable because it could help introduce an important element of predictability in the post-disaster public finances of disaster-prone developing countries. Against this background, the paper surveys the various available insurance modalities and reviews recent initiatives in developing and emerging market countries. It also identifies some key challenges for the insurance community, donors, and international financial institutions (IFIs).
Keywords:
WP; insurance coverage; catastrophe insurance pricing; index insurance contract; disaster insurance scheme; market penetration; public finances; insurance; earthquake insurance scheme; reinsurance company; disaster-insurance modality; disaster risk solution; bond issue; Natural disasters; Insurance companies; Bonds; International capital markets; Caribbean
Cover IMF Working Papers
Institutional Quality, Knightian Uncertainty, and Insurability: A Cross-Country Analysis
Mr. S. Nuri Erbas
and
Chera L. Sayers
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 with income level, financial sector depth, country risk, a measure of cost of insurance, and the World Bank governance indexes. We find that institutional quality-transparency-uncertainty nexus is the dominant determinant of insurability across countries, surpassing the explanatory power of income level. Institutional quality, as it reflects on the level of uncertainty, is the deeper determinant of insurability. Insurability is lower when governance is weaker.
Keywords:
WP; insurance coverage; insurability; life insurance
Cover IMF Working Papers
Macroeconomic Implications of Natural Disasters in the Caribbean
Mr. Tobias N. Rasmussen
Each year natural disasters affect about 200 million people and cause about $50 billion in damage. This paper compares the incidence of natural disasters across countries along several dimensions and finds that the relative costs tend to be far higher in developing countries than in advanced economies. The analysis shows that small island states are especially vulnerable, with the countries of the Eastern Caribbean standing out as among the most disaster-prone in the world. Natural disasters are found to have had a discernible macroeconomic impact, including large effects on fiscal and external balances, pointing to an important role for precautionary measures.
Keywords:
WP; ECCU country; country; GDP; government; market; price; Natural Disasters; Eastern Caribbean; Developing Countries; ECCU insurance market; countries of the Eastern Caribbean Currency Union; island state; market insurance; Insurance; Personal income; Fiscal stance; Caribbean; Global