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The Link Between Adherence to International Standards of Good Practice, Foreign Exchange Spreads, and Ratings

The Link Between Adherence to International Standards of Good Practice, Foreign Exchange Spreads, and Ratings »

Source: The Link Between Adherence to International Standards of Good Practice, Foreign Exchange Spreads, and Ratings

Volume/Issue: 2003/74

Series: IMF Working Papers

Author(s): Andrew Tiffin , Christian Mulder , and Charalambos Christofides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451849615

Keywords: foreign exchange spreads, standards, correlation, regulation, international standards, equation, International Monetary Arrangements and Institutions,

This paper examines the relationship between adherence to international standards of good practice in policy-making and two key indicators of access to capital markets and the cost of this access: spreads and sover...

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...

Firm Heterogeneity and Weak Intellectual Property Rights

Firm Heterogeneity and Weak Intellectual Property Rights »

Source: 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

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...

The Global Welfare Impact of China

The Global Welfare Impact of China »

Source: The Global Welfare Impact of China : Trade Integration and Technological Change

Volume/Issue: 2012/79

Series: IMF Working Papers

Author(s): Julian Di Giovanni , Jing Zhang , and Andrei Levchenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502312

Keywords: productivity growth, trade costs, correlation, equation, Neoclassical Models of Trade, Economic Growth of Open Economies,

This paper evaluates the global welfare impact of China's trade integration and technological change in a quantitative Ricardian-Heckscher-Ohlin model implemented on 75 countries. We simulate two alternative produc...

Speculative Attacks in the Asian Crisis

Speculative Attacks in the Asian Crisis »

Source: Speculative Attacks in the Asian Crisis

Volume/Issue: 2001/189

Series: IMF Working Papers

Author(s): Zhiwei Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

ISBN: 9781451859614

Keywords: ACH, currency crisis, duration analysis, contagion, speculative attacks, asian crisis, currency crises, equation, Econometric Modeling,

This paper takes the Asian crisis as an example to show that the Autoregressive Conditional Hazard (ACH) model is a powerful tool for studying the time series features of speculative attacks. The ACH model proposes...

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia »

Source: Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Volume/Issue: 1999/63

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1999

ISBN: 9781451848403

Keywords: Tax smoothing, tax tilting, fiscal sustainability, budget surplus, equation, fiscal deficits, government spending

This paper tests a version of Barro’s tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data...

Measuring Oil-Price Shocks Using Market-Based Information1

Measuring Oil-Price Shocks Using Market-Based Information1 »

Source: Measuring Oil-Price Shocks Using Market-Based Information

Volume/Issue: 2012/19

Series: IMF Working Papers

Author(s): Tao Wu , and Michele Cavallo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463931810

Keywords: Oil Shocks, Market-Based Information, VAR Identification, oil market, opec, equation, oil demand, Multiple or Simultaneous Equation Models: Time-Series Models, Methodology for Collecting, Estimating

We study the effects of oil-price shocks on the U.S. economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, we classify them into various event types. We then...

Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries

Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries »

Source: Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries

Volume/Issue: 2011/255

Series: IMF Working Papers

Author(s): Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463923914

Keywords: BRICs, Low-Income Countries, Panel VAR, Panel OLS, Concessionality, loan financing, bank debt, equation, dummy variable, error variance

BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitmen...

Moral Hazard and International Crisis Lending: A Test

Moral Hazard and International Crisis Lending: A Test »

Source: Moral Hazard and International Crisis Lending : A Test

Volume/Issue: 2002/181

Series: IMF Working Papers

Author(s): Giovanni Dell'Ariccia , Jeronimo Zettelmeyer , and Isabel Schnabel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451859201

Keywords: international lending, bond, crisis lending, bond spreads, bonds, International Lending and Debt Problems, Econometric Methods: - Single Equation Models,

We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailou...

How Robust are Estimates of Equilibrium Real Exchange Rates

How Robust are Estimates of Equilibrium Real Exchange Rates »

Source: How Robust are Estimates of Equilibrium Real Exchange Rates : The Case of China

Volume/Issue: 2006/220

Series: IMF Working Papers

Author(s): Lamin Leigh , Steven Dunaway , and Xiangming Li

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

ISBN: 9781451864809

Keywords: China&;amp;#x2019;s equilibrium real exchange rate, robustness tests, exchange rate, real exchange rate, equation, current account balance, Demand and Supply of Labor: General

Increased attention is being paid to assessments of the actual values of countries' real exchange rates relative to their "equilibrium" values as suggested by "fundamental" determining factors. This paper assesses...