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The Challenge of Public Pension Reform in Advanced and Emerging Economies

The Challenge of Public Pension Reform in Advanced and Emerging Economies »

Series: Occasional Papers

Author(s): Benedict Clements , David Coady , Frank Eich , Sanjeev Gupta , Alvar Kangur , Baoping Shang , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 January 2016

Language: Chinese

DOI: http://dx.doi.org/10.5089/9787504979971.084

ISBN: 9787504979971

Keywords: Pension reforms, Developed countries, Emerging markets, Pensions, Government expenditures, Cross country analysis, emerging market economies, retirement, pensions, pension spending

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population...

Capital Inflows, Credit Growth, and Financial Systems

Capital Inflows, Credit Growth, and Financial Systems »

Volume/Issue: 2015/193

Series: IMF Working Papers

Author(s): Deniz Igan , and Zhibo Tan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 August 2015

DOI: http://dx.doi.org/10.5089/9781513581262.001

ISBN: 9781513581262

Keywords: Financial development, Financial structure, credit growth, financial system, Financial Markets and the Macroeconomy,

Exploiting a granular panel dataset that breaks down capital inflows into FDI, portfolio and other categories, and distinguishes between credit to the household sector and to the corporate sector, we investigate th...

Inflation Reports and Models
			: How Well Do Central Banks Really Write?

Inflation Reports and Models : How Well Do Central Banks Really Write? »

Volume/Issue: 2014/91

Series: IMF Working Papers

Author(s): Ales Bulir , Jaromír Hurník , and Katerina Smidkova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 2014

DOI: http://dx.doi.org/10.5089/9781498387613.001

ISBN: 9781498387613

Keywords: Kalman filter, monetary policy communication, inflation, central bank, aggregate demand, Forecasting and Simulation, Forecasting and Simulation,

We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature, which mostly evaluates the formal quality of these reports, we evaluate their economic content by...

Environmental Tax Reform
			: Principles from Theory and Practice to Date

Environmental Tax Reform : Principles from Theory and Practice to Date »

Volume/Issue: 2012/180

Series: IMF Working Papers

Author(s): Ian Parry , John Norregaard , and Dirk Heine

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

DOI: http://dx.doi.org/10.5089/9781475505283.001

ISBN: 9781475505283

Keywords: design principles, externalities, fuel taxes, country evaluation, environmental tax, tax systems, tax reform, tax system, Nonrenewable Resources and Conservation: Government Policy, Energy: Government Policy,

This paper recommends a system of upstream taxes on fossil fuels, combined with refunds for downstream emissions capture, to reduce carbon and local pollution emissions. Motor fuel taxes should also account for con...

Clarity of Central Bank Communication About Inflation

Clarity of Central Bank Communication About Inflation »

Volume/Issue: 2012/9

Series: IMF Working Papers

Author(s): Ales Bulir , David-Jan Jansen , and Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463931148.001

ISBN: 9781463931148

Keywords: communication, clarity, central bank, inflation target,

This paper examines whether the clarity of central bank communication about inflation has changed with the economic environment. We use readability statistics and content analysis to study the clarity of communicat...

Causes, Benefits, and Risks of Business Tax Incentives

Causes, Benefits, and Risks of Business Tax Incentives »

Volume/Issue: 2009/21

Series: IMF Working Papers

Author(s): Alexander Klemm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

DOI: http://dx.doi.org/10.5089/9781451871685.001

ISBN: 9781451871685

Keywords: effective tax rates, tax system, tax rates, taxation,

This paper provides an updated overview of tax incentives for business investment. It begins by noting that tax competition is likely to be a major force driving countries' tax reforms, and discusses tax incentives...

Writing Clearly
			: ECB's Monetary Policy Communication

Writing Clearly : ECB's Monetary Policy Communication »

Volume/Issue: 2008/252

Series: IMF Working Papers

Author(s): Martin Cihak , Katerina Smídková , and Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

DOI: http://dx.doi.org/10.5089/9781451871104.001

ISBN: 9781451871104

Keywords: Communication, inflation, central bank, inflation forecasts, inflation target,

The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB's written com...

Inflation Targeting and Communication
			: It Pays Off to Read Inflation Reports

Inflation Targeting and Communication : It Pays Off to Read Inflation Reports »

Volume/Issue: 2008/234

Series: IMF Working Papers

Author(s): Katerina Smídková , Viktor Kotlán , David Navrátil , and Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

DOI: http://dx.doi.org/10.5089/9781451870923.001

ISBN: 9781451870923

Keywords: inflation, central bank, inflation forecasts

Inflation-targeting central banks have a respectable track record at explaining their policy actions and corresponding inflation outturns. Using a simple forward-looking policy rule and an assessment of inflation r...

Price Volatility and Financial Instability

Price Volatility and Financial Instability »

Volume/Issue: 2001/60

Series: IMF Working Papers

Author(s): Gene Leon , and Rupert Worrell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

DOI: http://dx.doi.org/10.5089/9781451848052.001

ISBN: 9781451848052

Keywords: volatility, financial instability, GARCH models, exchange rate, stock market, stock prices, stock price, Financial Markets and the Macroeconomy, Financial Institutions and Services: Government Policy and Regulation,

Statistical measures of the volatility of exchange rates, interest rates, and stock prices are estimated for a number of countries. Periods of high volatility are identified and compared with periods of financial d...

The Benefits and Costs of Intervening in Banking Crises

The Benefits and Costs of Intervening in Banking Crises »

Volume/Issue: 2000/147

Series: IMF Working Papers

Author(s): Edward Frydl , and Marc Quintyn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2000

DOI: http://dx.doi.org/10.5089/9781451856729.001

ISBN: 9781451856729

Keywords: banking crises, resolution costs, banking system, banking crisis, recapitalization, deposit guarantee

This paper provides a framework to assess the benefits and costs of intervening in a banking crisis. Intervention involves liquidity support and resolution actions. Principal benefits of intervention include avoidi...