Imf Staff Papers Volume 47 No 3 PDF Download
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| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 140 |
| Release | : 2001-10-10 |
| Genre | : Business & Economics |
| ISBN | : 1451973748 |
Download IMF Staff Papers, Volume 47, No. 3 Book in PDF, ePub and Kindle
This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It looks at what precisely is meant by herding, the causes of herd behavior, the success of existing studies in identifying the phenomenon, and the effect that herding has on financial markets. The paper also surveys a selected number of studies that evaluated the demand for money using the error-correction model approach in the 1990s across a range of industrial and developing countries.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 128 |
| Release | : 2000-01-01 |
| Genre | : Business & Economics |
| ISBN | : 145197423X |
Download IMF Staff Papers, Volume 47, No. 2 Book in PDF, ePub and Kindle
This paper analyzes portfolio diversification, leverage, and financial contagion. It studies the extent to which basic principles of portfolio diversification explain “contagious selling” of financial assets when there are purely local shocks. The paper demonstrates that the elementary portfolio theory offers key insights into “contagion.” Most important, portfolio diversification and leverage are sufficient to explain why an investor will find it optimal to significantly reduce all risky asset positions when an adverse shock impacts just one asset.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 168 |
| Release | : 2000-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451974582 |
Download IMF Staff Papers, Volume 47, No. 1 Book in PDF, ePub and Kindle
This paper discusses the origins of the pyramid schemes and the way the authorities handled them. The paper analyzes the economic effects of the pyramid schemes, concluding that despite the descent into anarchy triggered by the schemes’ collapse, their direct effects on the economy are difficult to specify and appear to have been limited. The paper also argues that prevention of pyramid schemes is better than cure and that government and international financial institutions should be vigilant in clamping down on frauds.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 193 |
| Release | : 2005-12-22 |
| Genre | : Business & Economics |
| ISBN | : 1589064755 |
Download IMF Staff Papers, Volume 52, No. 3 Book in PDF, ePub and Kindle
This last issue for 2005 comprises seven new papers, including a contribution to the journal's occasional Special Data Section about domestic debt markets in Sub-Saharan Africa, and also an in-depth look at the internal job market for entry-level economists at the IMF. The remaining articles cover toics as diverse as: modeling of asset markets, exchange rates in developing countries, international bank claims on Latin America, the effectiveness of "early warning" systems, and the use (by emerging market countries) of the IMF's Special Data Dissemination Standard (SDDS).
| Author | : Mr.Robert P. Flood |
| Publisher | : International Monetary Fund |
| Total Pages | : 236 |
| Release | : 2001-11-28 |
| Genre | : Business & Economics |
| ISBN | : 1451963092 |
Download IMF Staff Papers, Volume 47, Special Issue, IMF Annual Research Conference, Book in PDF, ePub and Kindle
This paper presents a broad overview of postwar analytical thinking on international macroeconomics, culminating in a more detailed discussion of recent progress. The paper reviews important empirical evidence that has inspired alternative modeling approaches, as well as theoretical and policy considerations behind developments in the field. The paper presents an empirical study of fiscal policy in countries with extreme monetary regimes. It also examines members of multilateral currency unions, dollarized countries that officially use the money of another country, and countries using currency boards.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 260 |
| Release | : 2002-09-23 |
| Genre | : Business & Economics |
| ISBN | : 9781589061224 |
Download IMF Staff Papers, Volume 49, No. 3 Book in PDF, ePub and Kindle
This paper empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay during 1975–98. Cointegration analysis and error correction modeling are used to research two issues: (i) whether money demand stability is threatened by banking crises; and (ii) whether crises lead to structural breaks in the relation between monetary indicators and prices. Overall, no systematic evidence that banking crises cause money demand instability is found. The paper also analyzes inflation targeting in the context of the IMF-supported adjustment programs.
| 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 | : 181 |
| Release | : 1958-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451968655 |
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This paper explores wage-price link in a prolonged inflation. A fixed tie between wages and prices must have significant effects in any economy. A wage-price link of the type discussed in this paper assumes that wages will be adjusted for any rise in consumer prices, subject to certain safeguards. This will protect wage earners against any significant fall in real wages arising from investment inflation. For a free economy, in which economic adjustments are induced by changes in prices and wages, the imposition of the degree of rigidity implied by this association is of far-reaching importance. in several countries, the use of wage-price links is a consequence of the fear of labor that real wages will be adversely affected by inflation. Although the basic causes of inflation vary widely in different countries and at different times, the process of inflation always shows similar characteristics. In an economy which is functioning properly, the distribution and use of the gross national product should result in an aggregate demand for goods and services that tend to equal the available supply of goods and services at approximately stable prices.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 136 |
| Release | : 1954-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451960115 |
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This paper presents a study on economic development with stability in India. While the Five-Year Plan occupies the central position as the means through which the Government of India proposes to deal with the basic economic problem, it must be implemented by many specific economic and social measures. It is of the utmost importance that the measures taken in various fields should not only contribute to the fulfilment of the Five-Year Plan but that they should form part of a consistent economic and social policy. Apart from the change in total foreign investment, the composition of foreign investment in India now includes a larger proportion of direct and a smaller proportion of fixed interest obligations than before the war. While India's official sterling debt has been practically wiped out, the Government of India has incurred new obligations in dollars. If India could meet its pre-war obligations on foreign investment without any great strain on its balance of payments, it should be able to meet future obligations, resulting from any new debts, provided its balance of payments position in the future is not materially worse than in the past.
| 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.
