Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Europe > Switzerland

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Commercial treaties x
Clear All Modify Search
Cover IMF Working Papers
International Stock Returns and Market Integration: A Regional Perspective
Mr. Marco Del Negro
and
Mr. Robin Brooks
We investigate the relative importance of country and industry effects in international stock returns, with the innovation that we decompose country effects into region and within-region country effects. We divide the global stock market into the Americas, Asia, and Europe and find that most of the variation explained by country effects is actually due to region effects. Over time, these region effects have fallen. Within regions, however, only in Europe has segmentation declined, while it has increased elsewhere. Europe is also the only region where industry effects are now robustly more important than country effects.
Keywords:
WP; TMT firm; U.S. dollar; mean absolute deviations; dummy variable; stock portfolio; Diversification; risk; international financial markets; industrial structure; region effect; portfolio manager; Stock markets; Stocks; Market capitalization; Capital account; North American Free Trade Agreement; Europe; Global; Asia and Pacific; Western Europe; Southeast Asia
Cover The Fund and Non-Member States Some Legal Effects
The Fund and Non-Member States Some Legal Effects
International Monetary Fund

Abstract

This paper examines legal provisions and practices of the IMF that involve nonmember states. It considers certain preliminary topics including: categories of nonmembers, subordinate territories for which members are responsible, and ex-members. It then discusses three ways in which nonmembers are affected either because members are limited in their freedom of action in dealing with nonmembers or because nonmembers have consented to certain obligations or standards that parallel those of the Articles. Withholding of certain benefits from nonmembers is also outlined.

Keywords:
PAM; exchange agreement; exchange transaction; fund's practice; countries of Eastern Europe; General arrangement; Currencies; General Agreement on Tariffs and Trade; Exchange restrictions; Gold; Eastern Europe
Cover IMF Staff Papers
IMF Staff papers: Volume 4 No. 3
International Monetary Fund. Research Dept.
This paper outlines the payment agreements and trade agreements. Resident inconvertibility in relation to other inconvertible countries is largely organized on the basis of bilateral trade agreements establishing quotas for imports, exports, and invisibles, and of the Organization for European Economic Cooperation (OEEC) Code of Liberalization. Resident inconvertibility vis-a-vis convertible countries is implemented mainly by unilaterally imposed quantitative import and exchange restrictions that usually are subject to a high degree of administrative discretion. Under bilateral payments agreements, the partner countries undertake to affect their reciprocal current settlements in a way that will minimize the use of convertible exchange and gold. In a typical case, the two central banks open accounts in their respective currencies in each other’s names, but agreements may also provide for one (main) agreement account. Settlements in convertible currencies or gold have to be made only when one partner’s net debtor position in the designated accounts exceeds an amount established in the agreement as the limit up to which each partner is prepared to sell its currency for the other’s currency without demanding cover.
Keywords:
SP; mixed-citation publication-type; payments agreement; predetermined variable; forecasting equation; government purchase; rate of interest; Journal de la Société de Statistique de Paris; Monetary base; Exports; Trade agreements; Currencies; Personal income; Europe; South America; Western Europe; Eastern Europe; Middle East