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The Effectiveness of Monetary Policy Transmission Under Capital Inflows

The Effectiveness of Monetary Policy Transmission Under Capital Inflows »

Source: The Effectiveness of Monetary Policy Transmission Under Capital Inflows : Evidence from Asia

Volume/Issue: 2012/265

Series: IMF Working Papers

Author(s): Sonali Jain-Chandra , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 November 2012

ISBN: 9781475525823

Keywords: Monetary policy transmission, dynamic factor model, structural VAR, long-term interest rates, bond yields, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics,

The effectiveness of the monetary policy transmission mechanism in open economies could be impaired if interest rates are driven primarily by global factors, especially during periods of large capital inflows. The...

The Global Financial Crisis

The Global Financial Crisis »

Source: The Global Financial Crisis : An Anatomy of Global Growth

Volume/Issue: 2013/76

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2013

ISBN: 9781484362013

Keywords: Growth Synchronization, global shocks, global financial crisis, idiosyncratic shocks, pre-crisis, Bayesian Analysis, Time-Series Models, International Policy Coordination and Transmission, Open Economy Macroeconomics,

The global financial crisis was a stark reminder of the importance of cross-country linkages in the global economy. We document growth synchronization across a diverse group of 185 countries covering 7 regions, and...

Future of Asia’s Finance

Future of Asia’s Finance »

Source: Future of Asia's Finance : How Can it Meet Challenges of Demographic Change and Infrastructure Needs?

Volume/Issue: 2014/126

Series: IMF Working Papers

Author(s): Ding Ding , Waikei Lam , and Shanaka Peiris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2014

ISBN: 9781498321082

Keywords: Demographic change, infrastructure financing, financial deepening, financial integration, capital and financial flows, bond, financial markets, financial sector development, bonds, Models with Panel Data

There is a role for Asia's financial sector to play to address the challenges associated with the region's changing demographics and infrastructure investment needs. Enhancing financial innovation and integration i...

Output and Unemployment Dynamics during the Great Recession

Output and Unemployment Dynamics during the Great Recession »

Source: Output and Unemployment Dynamics during the Great Recession : A Panel Unobserved Components Analysis

Volume/Issue: 2010/185

Series: IMF Working Papers

Author(s): Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202195

Keywords: Output dynamics, Unemployment dynamics, World economy, Great Recession, Panel unobserved components model, unemployment rate, unemployment, domestic demand, labor demand, Open Economy Macroeconomics,

This paper analyzes the sources of output and unemployment dynamics in the world economy during the Great Recession. This analysis is based on a panel unobserved components model of the world economy, disaggregated...

Trade and Financial Spilloveron Hong Kong SAR from a Downturn in Europe and Mainland China

Trade and Financial Spilloveron Hong Kong SAR from a Downturn in Europe and Mainland China »

Source: Trade and Financial Spilloveron Hong Kong SAR from a Downturn in Europe and Mainland China

Volume/Issue: 2012/81

Series: IMF Working Papers

Author(s): Papa N'Diaye , and Ashvin Ahuja

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502336

Keywords: Macroeconomic Interdependence, Growth, Global VAR, Applied General Equilibrium Model, Simulation, financial system, lending, portfolio, financial distress, Multiple or Simultaneous Equation Models: Time-Series Models

Hong Kong SAR was hit hard by the global financial crisis, which started out in the U.S. and spilled over to the rest of the world. Three years later, vulnerabilities in the euro area's financial system and concern...

Measuring External Risks for Peru

Measuring External Risks for Peru »

Source: Measuring External Risks for Peru : Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy

Volume/Issue: 2014/161

Series: IMF Working Papers

Author(s): Fei Han

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2014

ISBN: 9781498327220

Keywords: Macroeconomic Model, Partial Dollarization, External Risk, Macroeconomic Forecast, inflation, aggregate demand, monetary fund, Multiple or Simultaneous Equation Models: Instrumental Variables (IV) Estimation, Forecasting and Simulation, Monetary Policy (Targets

This paper quantifies the effects of external risks for Peru, with particular attention to two major external risks, China's investment slowdown and the U.S. monetary policy tightening. In particular, a macroeconom...

Did Output Recover From the Asian Crisis?

Did Output Recover From the Asian Crisis? »

Source: Did Output Recover From the Asian Crisis?

Volume/Issue: 2003/48

Series: IMF Working Papers

Author(s): Valerie Cerra , and Sweta Saxena

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451846751

Keywords: Crisis, Recovery, Hong Kong, Korea, recessions, asian crisis, recession, probability, probabilities, International Finance: Other

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countrie...

What Drives Credit Growth in Emerging Asia?

What Drives Credit Growth in Emerging Asia? »

Source: What Drives Credit Growth in Emerging Asia?

Volume/Issue: 2012/43

Series: IMF Working Papers

Author(s): Fei Han , and Selim Elekdag

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

ISBN: 9781463936440

Keywords: rapid credit growth, emerging Asia, SVAR, Bayesian estimation, sign restrictions, aggregate demand, domestic monetary policy, inflation, financial stability, What Drives Credit Growth in Emerging Asia?

This paper seeks to uncover the main drivers of credit growth in emerging Asia using a multi-country structural vector autoregressive (SVAR) model. Taking a novel approach, we developed a two-block SVAR whereby sho...

Policies and Prospects in Japan and the Implications for the Asia-Pacific Region

Policies and Prospects in Japan and the Implications for the Asia-Pacific Region »

Source: Policies and Prospects in Japan and the Implications for the Asia-Pacific Region

Volume/Issue: 2001/131

Series: IMF Working Papers

Author(s): Tim Callen , and Warwick McKibbin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451855289

Keywords: Asia-Pacific region, macroeconomic model, fiscal consolidation, equity prices, government expenditure, government bonds, International Factor Movements and International Business: General, Open Economy Macroeconomics, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

This paper uses the G-Cubed (Asia-Pacific) model-a macroeconomic model with rich cross-country links-to explore the implications for Japan and Asia of several shocks to the Japanese economy. The results suggest tha...

China

China »

Source: China : Sources of Real Exchange Rate Fluctuations

Volume/Issue: 2004/18

Series: IMF Working Papers

Author(s): Tao Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451843675

Keywords: real exchange rate, structural VAR, exchange rate, effective exchange rate, real effective exchange rate, exchange rate fluctuations, Multiple or Simultaneous Equation Models: Time-Series Models, Open Economy Macroeconomics, Economywide Country Studies: Asia including Middle East,

This paper reviews the evolution of China's real effective exchange rate between 1980 and 2002, and uses a structural vector autoregression model to study the relative importance of different types of macroeconomic...