IMF Staff Papers, Volume 54, No. 3
IMF Staff Papers, Volume 54, No. 3

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 2007-05-30

Total Pages: 212

ISBN-13: 1589066510

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This issue features a timely paper by Vladimir Klyuev and Paul Mills on the role of personal wealth and home equity withdrawal in the decline in the U.S. saving rate. Lusine Lusinyan and Leo Bonato explain how work absence in 18 European countries affects labor supply and demand. And a paper by Paolo Manasse (University of Bologna) entitled "Deficit Limits and Fiscal Rules for Dummies" examines fiscal frameworks.

IMF Staff Papers, Volume 49, No. 3
IMF Staff Papers, Volume 49, No. 3

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 2002-09-23

Total Pages: 260

ISBN-13: 9781589061224

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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.

IMF Staff Papers
IMF Staff Papers

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 2002-11-04

Total Pages: 250

ISBN-13: 9781589061231

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This paper reports for uncovered interest parity (UIP) using daily data for 23 developing and developed countries during the crisis-strewn 1990s. UIP is a classic topic of international finance, a critical building block of most theoretical models, and a dismal empirical failure. UIP states that the interest differential is, on average, equal to the ex post exchange rate change. UIP may work differently for countries in crisis, whose exchange and interest rates both display considerably more volatility. This volatility raises the stakes for financial markets and central banks; it also may provide a more statistically powerful test for the UIP hypothesis. Policy-exploitable deviations from UIP are, therefore, a necessary condition for an interest rate defense. There is a considerable amount of heterogeneity in the results, which differ wildly by country.

Public Finance in a Changing World
Public Finance in a Changing World

Author: Peter Birch Sorensen

Publisher: Springer

Published: 1998-04-15

Total Pages: 315

ISBN-13: 1349143367

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This non-technical volume analyses topical problems of public finance in a changing world characterized by growing mobility of production factors, liberalized economic policy regimes, and the formation of new nations. It discusses alternative views of government and the way we measure its activities; the modern welfare state and its impact on entrepreneurship and employment; issues of fiscal coordination and income redistribution in a world with many jurisdictions; and the problems of raising government revenue and of allocating property rights in transition economies.

A Guide to IMF Stress Testing
A Guide to IMF Stress Testing

Author: Ms.Li L Ong

Publisher: International Monetary Fund

Published: 2014-12-23

Total Pages: 610

ISBN-13: 1498370411

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The IMF has had extensive involvement in the stress testing of financial systems in its member countries. This book presents the methods and models that have been developed by IMF staff over the years and that can be applied to the gamut of financial systems. An added resource for readers is the companion CD-Rom, which makes available the toolkit with some of the models presented in the book (also located at elibrary.imf.org/page/stress-test-toolkit).

IMF Estimates of Potential Output
IMF Estimates of Potential Output

Author: Ms.Paula De Masi

Publisher: International Monetary Fund

Published: 1997-12-01

Total Pages: 15

ISBN-13: 1451974981

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The concepts of potential output and the output gap are central to the IMF’s analytical work in providing policy recommendations to member governments. This key role has stimulated research at the IMF to develop and refine estimation techniques. This paper summarizes the methodology and results of IMF research on potential output, which has focused mainly on the industrial countries but more recently has addressed issues related to developing countries and countries in transition. It then discusses the approaches that country desk officers use for operational purposes, and presents estimates of potential output for the major industrial countries.

Monetary Policy Instruments for European Monetary Union
Monetary Policy Instruments for European Monetary Union

Author: Lukas Menkhoff

Publisher: Springer Science & Business Media

Published: 2013-03-09

Total Pages: 160

ISBN-13: 3662034123

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Taking the Bundesbank's instruments as a starting point, this book discusses monetary policy instruments of a future European Central Bank. The book offers a systematic analysis of the issue, considering general theoretical arguments as well as the institutional situation in European countries.

African Voices on Structural Adjustment
African Voices on Structural Adjustment

Author: Codesria

Publisher: IDRC

Published: 2003

Total Pages: 514

ISBN-13: 0889368880

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African Voices on Structural Adjustment presents 14 in-depth studies on the history and future of structural adjustment in Africa. Each study appraises the performance of structural adjustment policies (SAPs) with respect to a particular sector or issue. Each evaluates the compatibility of SAPs with the requirements for long-term development in Africa. And, most importantly, each presents a truly African perspective. The contributors represent an outstanding collection of leading African economists and development experts. This volume is intended as a companion to Our Continent, Our Future. It will appeal to students, professors, academics, and researchers in development, economics, and African studies; professionals in donor organizations around the world; and economic policymakers in both the governmental and non-governmental sectors

The Gambia
The Gambia

Author: Mr.Michael T. Hadjimichael

Publisher: International Monetary Fund

Published: 1992-09-15

Total Pages: 58

ISBN-13: 9781557752307

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The Gambia, one of the least developed countries in Africa, has been pursuing corrective economic policies since 1985, aimed at restroing financial stability and laying the basis for strong and sustainable economic growth. Supported by IMF policy advice and financing. The Gambia's economic performance has improved considerably since 1985. This study discusses Gambian adjustment policies and their benefits.