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Fiscal Stimulus and Credibility in Emerging Countries

Fiscal Stimulus and Credibility in Emerging Countries »

Volume/Issue: 2010/123

Series: IMF Working Papers

Author(s): Magda Kandil , and Hanan Morsy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

DOI: http://dx.doi.org/10.5089/9781455200825.001

ISBN: 9781455200825

Keywords: credibility, effectiveness, cyclicality, fiscal impulse, exchange rate, fiscal expansion, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics,

Across a sample of thirty four emerging countries, the evidence shows the frequent existence of a pro-cyclical fiscal impulse. However, the scope for countercyclical policy increases with the availability of intern...

International Transmission of Bank and Corporate Distress

International Transmission of Bank and Corporate Distress »

Volume/Issue: 2010/124

Series: IMF Working Papers

Author(s): Papa N'Diaye , Dale Gray , Natalia Tamirisa , Hiroko Oura , and Qianying Chen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

DOI: http://dx.doi.org/10.5089/9781455200832.001

ISBN: 9781455200832

Keywords: bank, corporate, distress, GVAR, financial, international, probability, bank distress, probabilities, bank default

The paper evaluates how increases in banks' and nonfinancial corporates' default risk are transmitted in the global economy, using in a vector autoregression model for 30 advanced and emerging economies for the per...

International Transmission of Bank and Corporate Distress

International Transmission of Bank and Corporate Distress »

Source: International Transmission of Bank and Corporate Distress

Volume/Issue: 2010/124

Series: IMF Working Papers

Author(s): Papa N'Diaye , Dale Gray , Natalia Tamirisa , Hiroko Oura , and Qianying Chen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200832

Keywords: bank, corporate, distress, GVAR, financial, international, probability, bank distress, probabilities, bank default

The paper evaluates how increases in banks' and nonfinancial corporates' default risk are transmitted in the global economy, using in a vector autoregression model for 30 advanced and emerging economies for the per...

Incorporating Market Information into the Construction of the Fan Chart

Incorporating Market Information into the Construction of the Fan Chart »

Volume/Issue: 2009/178

Series: IMF Working Papers

Author(s): Prakash Kannan , and Selim Elekdag

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

DOI: http://dx.doi.org/10.5089/9781451873252.001

ISBN: 9781451873252

Keywords: Fan Chart, Balance of Risks, Option Prices, Consensus Forecasts, risk factors, survey, skewness, normal distribution, equation,

This paper develops a simple procedure for incorporating market-based information into the construction of fan charts. Using the International Monetary Fund (IMF)'s global growth forecast as a working example, the...

International Evidence on Recovery from Recessions

International Evidence on Recovery from Recessions »

Volume/Issue: 2009/183

Series: IMF Working Papers

Author(s): Valerie Cerra , Sweta Saxena , and Ugo Panizza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

DOI: http://dx.doi.org/10.5089/9781451873306.001

ISBN: 9781451873306

Keywords: Growth, Recession, Rebound, Output loss, exchange rate, recessions, exchange rate regime,

Although negative shocks have persistent effects on output on average, this paper shows that macroeconomic policies and the structure of the economy can influence the speed of recovery and mitigate the persistence...

Incorporating Market Information into the Construction of the Fan Chart

Incorporating Market Information into the Construction of the Fan Chart »

Source: Incorporating Market Information into the Construction of the Fan Chart

Volume/Issue: 2009/178

Series: IMF Working Papers

Author(s): Prakash Kannan , and Selim Elekdag

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

ISBN: 9781451873252

Keywords: Fan Chart, Balance of Risks, Option Prices, Consensus Forecasts, risk factors, survey, skewness, normal distribution, equation,

This paper develops a simple procedure for incorporating market-based information into the construction of fan charts. Using the International Monetary Fund (IMF)'s global growth forecast as a working example, the...

International Evidence on Recovery from Recessions

International Evidence on Recovery from Recessions »

Source: International Evidence on Recovery from Recessions

Volume/Issue: 2009/183

Series: IMF Working Papers

Author(s): Valerie Cerra , Sweta Saxena , and Ugo Panizza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

ISBN: 9781451873306

Keywords: Growth, Recession, Rebound, Output loss, exchange rate, recessions, exchange rate regime,

Although negative shocks have persistent effects on output on average, this paper shows that macroeconomic policies and the structure of the economy can influence the speed of recovery and mitigate the persistence...

Financial Spillovers to Emerging Markets During the Global Financial Crisis

Financial Spillovers to Emerging Markets During the Global Financial Crisis »

Source: Financial Spillovers to Emerging Markets During the Global Financial Crisis

Volume/Issue: 2009/104

Series: IMF Working Papers

Author(s): Nathaniel Frank , and Heiko Hesse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2009

ISBN: 9781451872514

Keywords: Subprime Crisis, Solvency, GARCH, bond, stock market, financial institutions,

In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GAR...

Financial Spillovers to Emerging Markets During the Global Financial Crisis

Financial Spillovers to Emerging Markets During the Global Financial Crisis »

Volume/Issue: 2009/104

Series: IMF Working Papers

Author(s): Nathaniel Frank , and Heiko Hesse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2009

DOI: http://dx.doi.org/10.5089/9781451872514.001

ISBN: 9781451872514

Keywords: Subprime Crisis, Solvency, GARCH, bond, stock market, financial institutions,

In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GAR...

Fiscal Coverage in the Countries of the Middle East and Central Asia

Fiscal Coverage in the Countries of the Middle East and Central Asia »

Source: 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

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...