Abstract
IMF Research Bulletin summarizes some of the recent research activities of the IMF.
IMF Working Papers and other IMF publications can be downloaded in full-text format from the Research at the IMF website: http://www.imf.org/research.
Bottom-Up Default Analysis of Corporate Solvency Risk: An Application to Latin America
Jorge A. Chan-Lau, Cheng Hoon Lim, Jose Daniel RodrÃguez-Delgado, Bennett W. Sutton, Melesse Tashu
Financial Frictions, Underinvestment, and Investment Composition: Evidence from Indian Corporates
Sonali Das, Volodymyr Tulin
Capital Controls and the Cost of Debt
Eugenia Andreasen, Martin Schindler, Patricio A. Valenzuela
ABBA: An Agent-Based Model of the Banking System
Jorge A. Chan-Lau
Heterogeneity of Bank Risk Weights in the EU: Evidence by Asset Class and Country of Counterparty Exposure
Rima Turk-Ariss
Public Investment Scaling-up and Debt Sustainability: The Case of Energy Sector Investments in the Caribbean
Ahmed El-Ashram
The Right Kind of Help?: Tax Incentives for Staying Small
Dora Benedek, Pragyan Deb, Borja Gracia, Sergejs Saksonovs, Anna Shabunina, Nina Budina
Cross-Country Spillovers of Fiscal Consolidations in the Euro Area
Tigran Poghosyan
Who Dares, Wins: Labor Market Reforms and Sovereign Yields
Christian H. Ebeke
Tipping the Scale?: The Workings of Monetary Policy through Trade
Gustavo Adler, Carolina Osorio Buitron
Financial Development and Source of Growth: New Evidence
Sami Ben Naceur, Robert Blotevogel, Mark Fischer, Haiyan Shi
Migration and Remittances in Latin America and the Caribbean: Engines of Growth and Macroeconomic Stabilizers?
Kimberly Beaton, Svetlana Cerovic, Misael Galdamez, Metodij Hadzi-Vaskov, Franz Loyola, Zsoka Koczan, Bogdan Lissovolik, Jan Kees Martijn, Yulia Ustyugova, Joyce Wong
Fiscal Reforms, Long-term Growth and Income Inequality
Santiago Acosta Ormaechea, Takuji Komatsuzaki, Carolina Correa-Caro
Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification
Carlos Carvalho, Gee Hee Hong, Jing Zhou
Does the Stock Market Boost Firm Innovation?: Evidence from Chinese Firms
Hui He, Hanya Li, Jinfan Zhang
Trade Integration in Latin America: A Network Perspective
Kimberly Beaton, Aliona Cebotari, Xiaodan Ding, Andras Komaromi
Towards Macroprudential Stress Testing: Incorporating Macro-Feedback Effects
Ivo Krznar, Troy D. Matheson
Panama’s Growth Prospects: Determinants and Sectoral Perspectives
Kimberly Beaton, Metodij Hadzi-Vaskov
The Macroeconomic Effects of Trade Tariffs: Revisiting the Lerner Symmetry Result
Jesper Lindé, Andrea Pescatori
Central Bank Emergency Support to Securities Markets
Darryl King, Luis Brandao-Marques, Kelly Eckhold, Peter Lindner, Diarmuid Murphy
Financial Stability Analysis: What Are the Data Needs?
Robert M. Heath, Evrim Bese Goksu
Exchange Rate Choices with Inflexible Markets and Costly Price Adjustments
Tara Iyer
IMF Lending in an Interconnected World
Jean-Guillaume Poulain, Julien Reynaud
The Informal Economy in Sub-Saharan Africa: Size and Determinants
Leandro Medina, Andrew W. Jonelis, Mehmet Cangul
A License to Issue (Anywhere): Patterns and Drivers of Corporate Bonds in Latin America
Svetlana Vtyurina, Adrian Robles, Bennett W. Sutton
The Evolution of Potential VAT Revenues and C-Efficiency in Advanced Economies
Junji Ueda
On Swing Pricing and Systemic Risk Mitigation
Sheheryar Malik, Peter Lindner
A Crude Shock: Explaining the Impact of the 2014–16 Oil Price Decline Across Exporters
Francesco Grigoli, Alexander Herman, Andrew J. Swiston
Basel Compliance and Financial Stability: Evidence from Islamic Banks
Mohammad Bitar, Sami Ben Naceur, Rym Ayadi, Thomas Walker
The Re-Emerging Privilege of Euro Area Membership
Johannes Wiegand
Financial Resource Curse in Resource-Rich Countries
Montfort Mlachila, Rasmané Ouedraogo
Designing a Simple Loss Function for Central Banks: Does a Dual Mandate Make Sense?
Davide Debortoli, Jinill Kim, Jesper Lindé, Ricardo C Nunes
Smooth Operator: Remittances and Fiscal Shocks
Kimberly Beaton, Serhan Cevik, Reza Yousefi
Women Are Key for Future Growth: Evidence from Canada
Bengt Petersson, Rodrigo Mariscal, Kotaro Ishi
What Explains the Decline of the U.S. Labor Share of Income?: An Analysis of State and Industry Level Data
Yasser Abdih, Stephan Danninger
Efficiency-Adjusted Public Capital, Capital Grants, and Growth
Ernesto Crivelli
Why Is Labor Receiving a Smaller Share of Global Income?: Theory and Empirical Evidence
Mai Chi Dao, Mitali Das, Zsoka Koczan, Weicheng Lian
Macroprudential Policy Spillovers: A Quantitative Analysis
Heedon Kang, Francis Vitek, Rina Bhattacharya, Phakawa Jeasakul, Sònia Muñoz, Naixi Wang, Rasool Zandvakil
Sovereign Debt Restructurings in Grenada: Causes, Processes, Outcomes, and Lessons Learned
Tamon Asonuma, Xin Li, Michael G. Papaioannou, Saji Thomas
Central Bank Balance Sheet Policies and Spillovers to Emerging Markets
Manmohan Singh, Haobin Wang
Government Financial Assets and Debt Sustainability
Camila Henao Arbelaez, Nelson Sobrinho
Uphill Capital Flows and the International Monetary System
Balazs Csonto, Camilo E. Tovar Mora
Bank Consolidation, Efficiency, and Profitability in Italy
Anke Weber
The Financing of Ideas and the Great Deviation
Daniel Garcia-Macia
Mining Spillovers in Chile
Esther Perez Ruiz
Calculating Trade in Value Added
Aqib Aslam, Natalija Novta, Fabiano Rodrigues-Bastos
Leaning Against Windy Bank Lending
Giovanni Melina, Stefania Villa
When Gambling for Resurrection Is Too Risky
Divya Kirti
Back to the Future: The Nature of Regulatory Capital Requirements
Ralph Chami, Thomas F. Cosimano, Emanuel Kopp, Celine Rochon
Structural Reforms and External Rebalancing
Alexander Culiuc, Annette Kyobe
Corporate Investment and the Real Exchange Rate
Mai Chi Dao, Camelia Minoiu, Jonathan David Ostry
The Nonlinear Interaction Between Monetary Policy and Financial Stress
MartÃn SaldÃas
Cyber Risk, Market Failures, and Financial Stability
Emanuel Kopp, Lincoln Kaffenberger, Christopher Wilson
Stabilizing the System of Mortgage Finance in the United States
Richard Koss
Taxation and the Peer-to-Peer Economy
Aqib Aslam, Alpa Shah
Bankruptcy Technology, Finance, and Entrepreneurship
Nelson Sobrinho
Finance and Employment in Developing Countries: The Working Capital Channel
Mai Chi Dao, Lucy Qian Liu
Housing Finance and Real Estate Markets in Colombia
Francisco Roch
Emissions and Growth: Trends and Cycles in a Globalized World
Gail Cohen, João Tovar Jalles, Prakash Loungani, Ricardo Marto
Macroeconomic and Distributional Effects of Personal Income Tax Reforms: A Heterogenous Agent Model Approach for the U.S.
Sandra V. Lizarazo Ruiz, Adrian Peralta-Alva, Damien Puy
How Important Is the Global Financial Cycle? Evidence from Capital Flows
Eugenio M. Cerutti, Stijn Claessens, Andrew K. Rose
Western Balkans: Increasing Women’s Role in the Economy
Ruben V. Atoyan, Jesmin Rahman
The Political Economy of Fiscal Transparency and Independent Fiscal Councils
Roel M.W.J. Beetsma, Xavier Debrun, Randolph Sloof
Oil Prices and Inflation Dynamics: Evidence from Advanced and Developing Economies
Sangyup Choi, Davide Furceri, Prakash Loungani, Saurabh Mishra, Marcos Poplawski-Ribeiro
Benchmarking Social Spending Using Efficiency Frontiers
Javier Kapsoli, Iulia Ruxandra Teodoru
Fiscal Stabilization and Growth: Evidence from Industry-level Data for Advanced and Developing Economies
Sangyup Choi, Davide Furceri, João Tovar Jalles
Banking on Women Leaders: A Case for More?
Ratna Sahay, Martin Cihak, Papa M. N’Diaye, Adolfo Barajas, Annette Kyobe, Srobona Mitra, Yen N. Mooi, Reza Yousefi
The Effect of Leverage on Asset Sales Between Financial Institutions
Sonali Das
What Prevents a Real Business Cycle Model from Matching the U.S. Data? Decomposing the Labor Wedge
Dmitry Plotnikov
Growth Breaks and Growth Spells in Sub-Saharan Africa
Francisco Arizala, Jesus R. Gonzalez-Garcia, Charalambos G. Tsangarides, Mustafa Yenice
Medium-Term Budget Frameworks in Sub-Saharan African Countries
Richard Allen, Taz Chaponda, Lesley Fisher, Rohini Ray
Policy Mix and the U.S. Trade Balance
Gustavo Adler, Carolina Osorio Buitron
Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth
Sakai Ando, Koffie Ben Nassar
Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?
Francesca G. Caselli
FX Intervention in the New Keynesian Model
Zineddine Alla, Raphael A. Espinoza, Atish R. Ghosh
The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru
Francisco Roch
Loss of Correspondent Banking Relationships in the Caribbean: Trends, Impact, and Policy Options
Trevor Serge Coleridge Alleyne, Jacques Bouhga-Hagbe, Thomas Dowling, Dmitriy Kovtun, Alla Myrvoda, Joel Chiedu Okwuokei, Jarkko Turunen
Interconnectedness of Global Systemically-Important Banks and Insurers
Sheheryar Malik, TengTeng Xu
Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation
Ambrogio Cesa-Bianchi, Emilio Fernández Corugedo
Quantitative Easing and Long-Term Yields in Small Open Economies
Antonio Diez de los Rios, Maral Shamloo
Settling the Inflation Targeting Debate: Lights from a Meta-Regression Analysis
Hippolyte W. Balima, Eric G. Kilama, Rene Tapsoba
Lessons from the Old Masters on Assessing Equity and Efficiency: A Primer for Fiscal Policymakers
Vitor Gaspar, Paolo Mauro, Tigran Poghosyan
Market Reforms at the Zero Lower Bound
Matteo Cacciatore, Romain A. Duval, Giuseppe Fiori, Fabio Ghironi
Understanding Correspondent Banking Trends: A Monitoring Framework
Dirk Jan Grolleman, David Jutrsa
