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Author: Mr.Ashoka Mody
Publisher: International Monetary Fund
Published: 2004-06-10
Total Pages: 168
ISBN-13: 9781589063204
DOWNLOAD EBOOKThis is the 2004 (Volume 51) Special Issue of IMF Staff Papers, which includes 6 selected papers (from more than 20) that were presented at the IMF's Fourth Annual Research Conference, November 6-7, 2003.
Author: Ashoka Mody
Publisher:
Published: 2004
Total Pages: 168
ISBN-13:
DOWNLOAD EBOOKThis is the 2004 (Volume 51) Special Issue of IMF Staff Papers, which includes 6 selected papers (from more than 20) that were presented at the IMF's Fourth Annual Research Conference, November 6-7, 2003.
Author: MissCatriona Purfield
Publisher: International Monetary Fund
Published: 2018-07-17
Total Pages: 123
ISBN-13: 148436855X
DOWNLOAD EBOOKThis publication brings together a set of IMF papers that prepared as backgrounds for the various sessions of the conference and will help put into broader dissemination channels the results of this important conference. An official IMF publication is well disseminated into academic and institutional libraries and book channels. The IMF metadata will also make the conference papers more discoverable online.
Author: Adolfo Barajas
Publisher:
Published: 2020-08-07
Total Pages: 51
ISBN-13: 9781513553009
DOWNLOAD EBOOKThe past two decades have seen a rapid increase in interest in financial inclusion, both from policymakers and researchers. This paper surveys the main findings from the literature, documenting the trends over time and gaps that have arisen across regions, income levels, and gender, among others. It points out that structural, as well as policy-related, factors, such as encouraging banking competition or channeling government payments through bank accounts, play an important role, and describes the potential macro and microeconomic benefits that can be derived from greater financial inclusion. It argues that policy should aim to identify and reduce frictions holding back financial inclusion, rather than targeting specific levels of inclusion. Finally, it suggests areas for future research.
Author: Wouter Bossu
Publisher: INTERNATIONAL MONETARY FUND
Published: 2020-11-20
Total Pages: 51
ISBN-13: 9781513561622
DOWNLOAD EBOOKThis paper analyzes the legal foundations of central bank digital currency (CBDC) under central bank and monetary law. Absent strong legal foundations, the issuance of CBDC poses legal, financial and reputational risks for central banks. While the appropriate design of the legal framework will up to a degree depend on the design features of the CBDC, some general conclusions can be made. First, most central bank laws do not currently authorize the issuance of CBDC to the general public. Second, from a monetary law perspective, it is not evident that “currency” status can be attributed to CBDC. While the central bank law issue can be solved through rather straithforward law reform, the monetary law issue poses fundmental legal policy challenges.
Author: Mr.Robert P. Flood
Publisher: International Monetary Fund
Published: 2001-11-28
Total Pages: 236
ISBN-13: 1451963092
DOWNLOAD EBOOKThis 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: Carlo Cottarelli
Publisher: International Monetary Fund
Published: 2002-11
Total Pages: 56
ISBN-13:
DOWNLOAD EBOOKDuring the 1990s, the concept of "catalytic official finance" (COF) gained prominence in policy debates. The concept revolves around the idea that the propensity of investors to lend to a country increases when the IMF provides its "seal of approval"-backed up by only limited official financing-on the country's economic program. COF aims at avoiding, on the one hand, the massive use of public money to bail out private investors; on the other, the recourse to coercive bailing-in mechanisms. The paper concludes that COF, while possibly useful in other contexts, is less reliable when used to manage capital account crises.
Author: Mr.Robert P. Flood
Publisher: International Monetary Fund
Published: 2003-08-25
Total Pages: 202
ISBN-13: 9781589062047
DOWNLOAD EBOOKThe paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as the fiscal burden reaches a critical level. The paper provides an overview of key elements of corporate bankruptcy codes and practice around the world that are relevant to the debate on sovereign debt restructuring. It also describes the broad trends in international financial integration for a sample of industrial countries and explains the cross-country and time-series variation in the size of international balance sheets.
Author: M. Ayhan Kose
Publisher: World Bank Publications
Published: 2021-03-03
Total Pages: 403
ISBN-13: 1464815453
DOWNLOAD EBOOKThe global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Published: 2005-08-30
Total Pages: 196
ISBN-13: 9781589064478
DOWNLOAD EBOOKThis paper focuses on expectations for the American economy focused on the likelihood of secular stagnation, which continued to be debated throughout the post-war period. Concerns rose during the late 1960s and early 1970s about rapid population growth smothering the potential for economic growth in developing countries were contradicted when, during the mid- and late-1970s, fertility rates began to decline rapidly. In policy-oriented institutions (and in most businesses and individual decision making), policymaking decisions are often guided by projections and forward-looking indicators. The case of Michael Mussa has been one of great anticipation, and of great accomplishment, and all the early optimistic forecasts about him have turned out to be correct. Within the sphere of economics, undoubtedly the most famous and widely used forecast—one, incidentally, that thus far has often been incorrect—is that based on the Malthusian doctrine of the relationship between resources and population.
