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Bivariate Assessments of Real Exchange Rates Using PPP Data

Bivariate Assessments of Real Exchange Rates Using PPP Data »

Volume/Issue: 2008/153

Series: IMF Working Papers

Author(s): Juan Zalduendo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

DOI: http://dx.doi.org/10.5089/9781451870114.001

ISBN: 9781451870114

Keywords: Real exchange rate, exchange rate, real exchange rates

This paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are based exclusively on bivariate estimations. It begins by presenting an analytical framework of t...

Financial Integration and Risk-Adjusted Growth Opportunities

Financial Integration and Risk-Adjusted Growth Opportunities »

Volume/Issue: 2008/126

Series: IMF Working Papers

Author(s): Iryna Ivaschenko , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

DOI: http://dx.doi.org/10.5089/9781451869866.001

ISBN: 9781451869866

Keywords: growth opportunities, openness, financial development, financial globalization, european financial integration, foreign assets, financial deepening,

This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countrie...

Exchange Rate Assessments
			: CGER Methodologies

Exchange Rate Assessments : CGER Methodologies »

Series: Occasional Papers

Author(s): Jaewoo Lee , Jonathan Ostry , Alessandro Prati , Luca Ricci , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2008

DOI: http://dx.doi.org/10.5089/9781589066380.084

ISBN: 9781589066380

Keywords: Exchange rates, Exchange rate assessments, current account, exchange rate, current account balance, real exchange rate

The rapid increase in international trade and financial integration over the past decade and the growing importance of emerging markets in world trade and GDP have inspired the IMF to place stronger emphasis on mul...

Fiscal Coverage in the Countries of the Middle East and Central Asia
			: Current Situation and a Way Forward

Fiscal Coverage in the Countries of the Middle East and Central Asia : Current Situation and a Way Forward »

Volume/Issue: 2008/111

Series: IMF Working Papers

Author(s): Daria Zakharova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

DOI: http://dx.doi.org/10.5089/9781451869712.001

ISBN: 9781451869712

Keywords: Fiscal coverage, public enterprises, fiscal risks, fiscal statistics, fiscal policy, fiscal accounts, Structure, Scope, and Performance of Government,

This paper reviews some broad principles of fiscal coverage, building on cross-country experience. It discusses the level of coverage that would be appropriate to conduct good quality fiscal analysis, while strikin...

Importer and Producer Petroleum Taxation
			: A Geo-Political Model

Importer and Producer Petroleum Taxation : A Geo-Political Model »

Volume/Issue: 2008/35

Series: IMF Working Papers

Author(s): Jon Strand

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

DOI: http://dx.doi.org/10.5089/9781451868975.001

ISBN: 9781451868975

Keywords: Petroleum taxes, environmental externalities, Nash equilibrium, Stackelberg equilibrium, cap-and-trade schemes, exporter, exporters, petroleum consumption, carbon emissions,

We derive non-cooperative Nash equilibrium (NE) importer and exporter petroleum excise taxes given full within-group tax coordination, but no coordination between groups, assuming that importers do not produce and...

Firm Heterogeneity and Weak Intellectual Property Rights

Firm Heterogeneity and Weak Intellectual Property Rights »

Volume/Issue: 2007/161

Series: IMF Working Papers

Author(s): Stanley Watt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867251.001

ISBN: 9781451867251

Keywords: Firm Heterogeneity, Intellectual Property Rights, r &;amp; d, standard errors, equation, outlier, probability,

In weak intellectual property rights (IPR) environments, the imitation of proprietary technology by domestic firms has become a deterrent for foreign investment. Different multinationals may view this deterrent dif...

Elements of Optimal Monetary Policy Committee Design

Elements of Optimal Monetary Policy Committee Design »

Volume/Issue: 2006/277

Series: IMF Working Papers

Author(s): Jérôme Vandenbussche

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

DOI: http://dx.doi.org/10.5089/9781451865370.001

ISBN: 9781451865370

Keywords: collective decision making, inflation, central bank, monetary policy decisions, inflation targeting, Analysis Of Collective Decision-making, Monetary Policy, Central Banking, And The Supply Of Money And Credit,

The move from individual decision making to committee decision making is widely seen as a major evolution in contemporary central banking. This paper reviews the relevant economics and social psychology literatures...

Euro Area Policies
			: Staff Report

Euro Area Policies : Staff Report »

Volume/Issue: 2005/265

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2005

DOI: http://dx.doi.org/10.5089/9781451813012.002

ISBN: 9781451813012

Keywords: interest rates, structural reforms, economic outlook

This paper focuses on euro area policies. The monetary policy stance remains appropriate for now. Fiscal policies are falling well short of consolidation requirements, and the area remains insufficiently prepared f...

Exits from Heavily Managed Exchange Rate Regimes

Exits from Heavily Managed Exchange Rate Regimes »

Volume/Issue: 2005/39

Series: IMF Working Papers

Author(s): Enrica Detragiache , Eisuke Okada , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

DOI: http://dx.doi.org/10.5089/9781451860580.001

ISBN: 9781451860580

Keywords: orderly and disorderly exits, exchange rate, real exchange rate, international financial statistics, exchange rate regime, exchange rate regimes, International Lending and Debt Problems, orderly, and disorderly exits,

A widely held nostrum is that countries should exit heavily managed exchange rate regimes when the going is good, rather than when the exchange rate is under pressure to depreciate. Have countries followed this adv...

Interest Rate Defenses of Currency Pegs

Interest Rate Defenses of Currency Pegs »

Volume/Issue: 2004/85

Series: IMF Working Papers

Author(s): Juan Sole

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2004

DOI: http://dx.doi.org/10.5089/9781451850789.001

ISBN: 9781451850789

Keywords: bond, central bank, bonds, domestic currency, interest rate policy, Open Economy Macroeconomics,

This paper studies a policy often used to defend a currency peg: raising short-term interest rates. The rationale for this policy is to stem demand for foreign reserves. Yet, this mechanism is absent from most mone...