Imf Staff Papers Volume 55 No 1 PDF Download
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| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 220 |
| Release | : 2008-06-18 |
| Genre | : Business & Economics |
| ISBN | : 1589067223 |
Download IMF Staff Papers, Volume 55, No. 1 Book in PDF, ePub and Kindle
In this issue, a team of economists look at approaches to modeling the use of IMF resources in order to gauge whether the recent decline in credit outstanding is a temporary or permanent phenomenon. Era Dabla-Norris and Gabriela Inchauste examine what drives the growth of firms, with a focus on informality and regulations. Evan Tanner and Issouf Samake use a vector autoregression approach to examine the probabilistic sustainability of public debt in Brazil. Mexico, and Turkey. And Rachel Glennerster and Yongseok Shin ask whether transparency pays?that is, does the frequency and accuracy of macroeconomic information released to the public lead to lower borrowing costs in sovereign debt markets?
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 288 |
| Release | : 2010-03-26 |
| Genre | : Business & Economics |
| ISBN | : 1589069110 |
Download IMF Staff Papers, Volume 57, No. 1 Book in PDF, ePub and Kindle
Do highly indebted countries suffer from a debt overhang? Can debt relief foster their growth rates? To answer these important questions, this article looks at how the debt-growth relation varies with indebtedness levels, as well as with the quality of policies and institutions, in a panel of developing countries. The main findings are that, in countries with good policies and institutions, there is evidence of debt overhang when the net present value of debt rises above 20–25 percent of GDP; however, debt becomes irrelevant above 70–80 percent. In countries with bad policies and institutions, thresholds appear to be lower, but the evidence of debt overhang is weaker and we cannot rule out that debt is always irrelevant. Indeed, in such countries, as well as in countries with high indebtedness levels, investment does not depend on debt levels. The analysis suggests that not all countries are likely to profit from debt relief, and thus that a one-size-fits-all debt relief approach might not be the most appropriate one.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 248 |
| Release | : 2009-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1589067940 |
Download IMF Staff Papers, Volume 56, No. 1 Book in PDF, ePub and Kindle
This special issue brings together world-renowned experts to provide a systematic and critical analysis of the costs and benefits of financial globalization. Contributors include Kenneth Rogoff, Maurice Obstfeld, Dani Rodrik, and Frederic S. Mishkin.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 194 |
| Release | : 1987-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9781463915476 |
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| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 296 |
| Release | : 2009-11-04 |
| Genre | : Business & Economics |
| ISBN | : 1589069102 |
Download IMF Staff Papers, Volume 56, No. 4 Book in PDF, ePub and Kindle
This paper empirically evaluates four types of costs that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 180 |
| Release | : 1957-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451968590 |
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The purpose of this paper is to bring monetary events, monetary data, and monetary problems within the framework of income analysis. The study tries to bridge gaps between: the views widely held on the relation between financial policies and payments questions; and the analytical tools used to explain payments developments. The failure to accommodate monetary factors in the analysis probably becomes most evident when questions are raised concerning the effects of specified monetary changes on income or on the balance of payments. The tools used in the economic analysis of situations are necessarily simplifications of a more general economic theory—simplifications which bring into focus the factors that seem most important in the classes of situation studied. The decision to treat domestic credit expansion as an autonomous variable is dictated by the purposes of the analysis. As statistically measured, credit expansion is a net concept, the difference between credit outstanding at the end and at the beginning of a period. Part of the repayments that occur during a period may be caused by new loans granted during this or a preceding period.
| Author | : Mr.Robert P. Flood |
| Publisher | : International Monetary Fund |
| Total Pages | : 168 |
| Release | : 2003-04-17 |
| Genre | : Business & Economics |
| ISBN | : 9781589061248 |
Download IMF Staff Papers, Volume 50, No. 1 Book in PDF, ePub and Kindle
Forty years ago, Marcus Fleming and Robert Mundell developed independent models of macroeconomic policy in open economies. Why do we link the two, and why do we call the result the Mundell-Fleming, rather than Fieming-Mundell model?
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 248 |
| Release | : 2009-07-31 |
| Genre | : Business & Economics |
| ISBN | : 1589068203 |
Download IMF Staff Papers, Volume 56, No. 3 Book in PDF, ePub and Kindle
Studies of the impact of trade openness on growth are based either on crosscountry analysis—which lacks transparency—or case studies—which lack statistical rigor. This paper applies a transparent econometric method drawn from the treatment evaluation literature (matching estimators) to make the comparison between treated (that is, open) and control (that is, closed) countries explicit while remaining within a statistical framework. Matching estimators highlight that common cross-country evidence is based on rather far-fetched country comparisons, which stem from the lack of common support of treated and control countries in the covariate space. The paper therefore advocates paying more attention to appropriate sample restriction in crosscountry macro research.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 204 |
| Release | : 1990-01-01 |
| Genre | : Business & Economics |
| ISBN | : 145195686X |
Download IMF Staff papers, Volume 37 No. 1 Book in PDF, ePub and Kindle
This paper examines factors affecting saving, policy tools, and tax reform. The literature on factors affecting saving and capital formation in industrialized countries is reviewed, and measurement problems are examined. The effect on the saving rate of real rates of return, income redistribution, allocation of saving between corporations and individuals, growth of public and private pension plans, tax incentives, the bequest motive, energy prices, and inflation is considered. The limited tools available to policymakers to affect savings are discussed.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 187 |
| Release | : 1951-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451949324 |
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This paper discusses that the governments of forty-nine countries have accepted the Articles of Agreement of the IMF. They have accepted the Agreement on their own behalf and in respect of all their colonies, overseas territories, all territories under their protection, suzerainty, or authority and all territories in respect of which they exercise a mandate. Although the concept of a fixed par value and of rates of exchange based on it is of fundamental importance under the Articles of Agreement, provision is also made for the retention, adaptation and introduction of multiple currency practices in certain circumstances. Courts are frequently called upon to decide at what rate of exchange one currency shall be translated into another. The courts of many countries have been faced, both before and after the coming into force of the IMF Agreement, with the problem whether they should recognize the effect of the exchange control regulations of other countries.
