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How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes

How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes »

Volume/Issue: 2005/48

Series: IMF Working Papers

Author(s): Rodney Ramcharan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

DOI: http://dx.doi.org/10.5089/9781451860672.001

ISBN: 9781451860672

Keywords: Risk, diversification, earthquakes, earthquake, disasters, epidemiology of disasters, Macroeconomics: Consumption, Saving, Production, Employment

Economic activity is risky. Returns across economic sectors can be highly variable, potentially causing costly adjustments to consumption. However, when returns are imperfectly correlated across sectors and insuran...

If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows

If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows »

Volume/Issue: 2015/256

Series: IMF Working Papers

Author(s): Swarnali Ahmed

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

DOI: http://dx.doi.org/10.5089/9781498367196.001

ISBN: 9781498367196

Keywords: Fed liftoffs, policy responses, policy framework, emerging market economies, interest, market, portfolio, interest rate, Monetary Policy (Targets, Instruments

After more than six years of ultra-low interest rates, a Fed liftoff (rate hike) is just a matter of time. This paper goes back to history to understand the spillover effect - or what is termed in the paper as the...

Inequality, Poverty, and Growth
			: Cross-Country Evidence

Inequality, Poverty, and Growth : Cross-Country Evidence »

Volume/Issue: 2005/28

Series: IMF Working Papers

Author(s): Garbis Iradian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

DOI: http://dx.doi.org/10.5089/9781451860474.001

ISBN: 9781451860474

Keywords: Inequality, growth, public expenditure, per capita income, economic growth, gini index, real gdp, gdp growth, Economic Growth and Aggregate Productivity: General, Financial Institutions and Services: General

This paper examines the empirical relationship between inequality and growth, and analyzes the impacts of growth, inequality, and government spending on poverty reduction. A new panel dataset has been assembled on...

Inflation Targeting and Exchange Rate Regimes in Emerging Markets

Inflation Targeting and Exchange Rate Regimes in Emerging Markets »

Volume/Issue: 2015/228

Series: IMF Working Papers

Author(s): Christian Ebeke , and Armand Fouejieu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 October 2015

DOI: http://dx.doi.org/10.5089/9781513586267.001

ISBN: 9781513586267

Keywords: Inflation targeting, Exchange rate regime, Non-linearities, exchange rate, inflation, central bank, General, Globalization: General, All Countries,

This paper investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions. Using a large sample...

Inflation Targeting and the Crisis
			: An Empirical Assessment

Inflation Targeting and the Crisis : An Empirical Assessment »

Volume/Issue: 2010/45

Series: IMF Working Papers

Author(s): Irineu de Carvalho Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

DOI: http://dx.doi.org/10.5089/9781451963045.001

ISBN: 9781451963045

Keywords: economic crisis, inflation, terms of trade, real interest rates, Macroeconomics and Monetary Economics: General, Business Fluctuations, And Cycles, money And Interest Rates,

This paper appraises how countries with inflation targeting fared during the current crisis, with the goal of establishing the stylized facts that will guide and motivate future research. We find that since August...

Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?

Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We? »

Volume/Issue: 2015/77

Series: IMF Working Papers

Author(s): Nicolas Magud , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2015

DOI: http://dx.doi.org/10.5089/9781475534221.001

ISBN: 9781475534221

Keywords: financial constraints, private investment, commodity, debt, General, General, General, General, capital inflows.,

We document that (i) although private investment growth in emerging markets has decelerated in recent years, it came down from cyclical highs and remains close to pre-crisis trends; and (ii) investment-to-output ra...

Military Expenditure
			: Econometric Testing of Economic and Political Influences

Military Expenditure : Econometric Testing of Economic and Political Influences »

Volume/Issue: 1991/53

Series: IMF Working Papers

Author(s): Daniel Hewitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1991

DOI: http://dx.doi.org/10.5089/9781451847291.001

ISBN: 9781451847291

Keywords: military, military expenditures, expenditures, expenditure, military expenditure

Econometric results from an analysis of the determinants of military expenditure in 125 countries during 1972-88 are presented. The dependent variable is the ratio of military expenditure to GDP; included among the...

Reaping the Benefits from Global Value Chains

Reaping the Benefits from Global Value Chains »

Volume/Issue: 2015/204

Series: IMF Working Papers

Author(s): Kevin Cheng , Sidra Rehman , Dulani Seneviratne , and Shiny Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2015

DOI: http://dx.doi.org/10.5089/9781513516738.001

ISBN: 9781513516738

Keywords: Global Value Chains, GVC, Economic Complexity, Growth, value, trade, value added, development, General, Globalization: General,

Against the backdrop of the rise of global value chains (GVCs), particularly in Asia, this paper documents key developments of GVCs and investigates what factors cause economies to reap greater benefits from GVC pa...

Shifting Motives
			: Explaining the Buildup in official Reserves in Emerging Markets Since the 1980's

Shifting Motives : Explaining the Buildup in official Reserves in Emerging Markets Since the 1980's »

Volume/Issue: 2012/34

Series: IMF Working Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463933197.001

ISBN: 9781463933197

Keywords: Quantile Regression, exchange rate, reserve holdings, short-term debt, exchange rate regime, Economic Growth of Open Economies,

Why have emerging market economies (EMEs) been stockpiling international reserves? We find that motives have varied over time?vulnerability to current account shocks was relatively important in the 1980s but, as EM...

Spatial Spillovers in Emerging Market Spreads

Spatial Spillovers in Emerging Market Spreads »

Volume/Issue: 2011/221

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , Emanuele Baldacci , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904234.001

ISBN: 9781463904234

Keywords: sovereign spreads, emerging market, spatial econometrics, external debt, bond, currency crises, sovereign bond, total external debt, International Finance: General,

We use novel spatial econometrics techniques to explore spillovers in the sovereign bond market for 24 emerging economies during 1995-2010. The paper extends the previous literature focusing on spillover effects fr...