[PDF] Imf Staff Papers Volume 52 eBook

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 224 pages
File Size : 42,51 MB
Release : 2005-08-29
Category : Business & Economics
ISBN : 1589064488

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This paper examines contractionary currency crashes in developing countries. It explores the causes of India’s productivity surge around 1980, more than a decade before serious economic reforms were initiated. The paper finds evidence that the trigger may have been an attitudinal shift by the government in the early 1980s that, unlike the reforms of the 1990s, was pro-business rather than pro-market in character, favoring the interests of existing businesses rather than new entrants or consumers. A relatively small shift elicited a large productivity response, because India was far away from its income possibility frontier.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 156 pages
File Size : 21,30 MB
Release : 2005-04-18
Category : Business & Economics
ISBN : 9781589064195

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This first issue of IMF Staff Papers for 2005 contains 7 papers that discuss: whether output recovered after the Asian crisis; the value of a country's trading partners to its own economic growth; whether interdependence is a factor in understanding the spread of currency crises; can remittance payments from expatriates be a reliable source of capital for economic development?; total factor productivity; designing a VAT for the energy trade in Russia and Ukraine; and lastly, a discussion of the reasons for central bank intervention in ERM-I since 1993

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 196 pages
File Size : 37,96 MB
Release : 2005-08-30
Category : Business & Economics
ISBN : 9781589064478

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This paper focuses on expectations for the American economy focused on the likelihood of secular stagnation, which continued to be debated throughout the post-war period. Concerns rose during the late 1960s and early 1970s about rapid population growth smothering the potential for economic growth in developing countries were contradicted when, during the mid- and late-1970s, fertility rates began to decline rapidly. In policy-oriented institutions (and in most businesses and individual decision making), policymaking decisions are often guided by projections and forward-looking indicators. The case of Michael Mussa has been one of great anticipation, and of great accomplishment, and all the early optimistic forecasts about him have turned out to be correct. Within the sphere of economics, undoubtedly the most famous and widely used forecast—one, incidentally, that thus far has often been incorrect—is that based on the Malthusian doctrine of the relationship between resources and population.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 193 pages
File Size : 13,90 MB
Release : 2005-12-22
Category : Business & Economics
ISBN : 1589064755

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This last issue for 2005 comprises seven new papers, including a contribution to the journal's occasional Special Data Section about domestic debt markets in Sub-Saharan Africa, and also an in-depth look at the internal job market for entry-level economists at the IMF. The remaining articles cover toics as diverse as: modeling of asset markets, exchange rates in developing countries, international bank claims on Latin America, the effectiveness of "early warning" systems, and the use (by emerging market countries) of the IMF's Special Data Dissemination Standard (SDDS).

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 248 pages
File Size : 26,17 MB
Release : 2009-06-01
Category : Business & Economics
ISBN : 1589067940

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This special issue brings together world-renowned experts to provide a systematic and critical analysis of the costs and benefits of financial globalization. Contributors include Kenneth Rogoff, Maurice Obstfeld, Dani Rodrik, and Frederic S. Mishkin.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 236 pages
File Size : 17,88 MB
Release : 2007-09-26
Category : Business & Economics
ISBN : 1589066502

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Vol. 54, No. 2 includes three notable contributions from the Seventh Jacques Polak Annual Research Conference (ARC) hosted by the IMF in November 2006. Its lead paper, by Olivier Blanchard of Harvard University, is the 2006 Mundell-Fleming Lecture (delivered at the ARC), which analyzes current-account deficits in the advanced economies. Other papers in this issue look at the relationship between international financial integration and the real economy. Other papers discuss whether (or not): i) the next capital account crisis can be predicted; ii) accepted definitions of debt crises are adequate; iii) the Doha Round of trade talks (if they are ever successfully completed) will lead to preference erosion; and finally iv) there is room for political opportunism in countries deciding between money-based or exchange-rate-based stabilization programs.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 248 pages
File Size : 12,88 MB
Release : 2009-07-31
Category : Business & Economics
ISBN : 1589068203

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Studies of the impact of trade openness on growth are based either on crosscountry analysis—which lacks transparency—or case studies—which lack statistical rigor. This paper applies a transparent econometric method drawn from the treatment evaluation literature (matching estimators) to make the comparison between treated (that is, open) and control (that is, closed) countries explicit while remaining within a statistical framework. Matching estimators highlight that common cross-country evidence is based on rather far-fetched country comparisons, which stem from the lack of common support of treated and control countries in the covariate space. The paper therefore advocates paying more attention to appropriate sample restriction in crosscountry macro research.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 296 pages
File Size : 43,3 MB
Release : 2009-11-04
Category : Business & Economics
ISBN : 1589069102

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This paper empirically evaluates four types of costs that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 220 pages
File Size : 37,40 MB
Release : 2008-06-18
Category : Business & Economics
ISBN : 1589067223

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In this issue, a team of economists look at approaches to modeling the use of IMF resources in order to gauge whether the recent decline in credit outstanding is a temporary or permanent phenomenon. Era Dabla-Norris and Gabriela Inchauste examine what drives the growth of firms, with a focus on informality and regulations. Evan Tanner and Issouf Samake use a vector autoregression approach to examine the probabilistic sustainability of public debt in Brazil. Mexico, and Turkey. And Rachel Glennerster and Yongseok Shin ask whether transparency pays?that is, does the frequency and accuracy of macroeconomic information released to the public lead to lower borrowing costs in sovereign debt markets?