Browse
Contagion, Monsoons, and Domestic Turmoil in Indonesia »
Source: Contagion, Monsoons, and Domestic Turmoil in Indonesia : A Case Study in the Asian Currency Crisis
Volume/Issue: 2000/60
Series: IMF Working Papers
Author(s): Sweta Saxena , and Valerie Cerra
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2000
ISBN: 9781451848045
Keywords: Economic models, Financial crisis, Indonesia, Currency crisis, Contagion, Markov-switching models, probability, probabilities, asian crisis, equation
This paper investigates whether Indonesia's recent currency crisis was due to domestic fundamentals, common external shocks ('monsoons'), or contagion from neighboring countries. Markov-switching models attribute s...
Cross-country Consumption Risk Sharing, a Long-run Perspective »
Source: Cross-country Consumption Risk Sharing, a Long-run Perspective
Volume/Issue: 2010/64
Series: IMF Working Papers
Author(s): Zhaogang Qiao
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2010
ISBN: 9781451982084
Keywords: Consumption risk sharing, Intertemporal smoothing, Nonstationary panel analysis, Cointegration, risk sharing, equation, time series, statistic, Macroeconomics and Monetary Economics: General, International Economics: General,
This paper estimates an empirical nonstationary panel regression model that tests long-run consumption risk sharing across a sample of OECD and emerging market (EM) countries. This is in contrast to the existing li...
Currency Crises and Uncertainty About Fundamentals »
Source: Currency Crises and Uncertainty About Fundamentals
Volume/Issue: 2002/3
Series: IMF Working Papers
Author(s): M. Sbracia , and Alessandro Prati
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2002
ISBN: 9781451841916
Keywords: Speculative attack, exchange rate crisis, public and private information, exchange rate, exchange rate pressures, probability, equation, predictions, Asymmetric and Private Information,
This paper studies how uncertainty about fundamentals contributed to currency crises from both a theoretical and an empirical perspective. We find evidenceCbased on a monthly dataset of Consensus forecasts for six...
Demand for M2 in an Emerging-Market Economy »
Source: Demand for M2 in an Emerging-Market Economy : An Error-Correction Model for Malaysia
Volume/Issue: 1999/173
Series: IMF Working Papers
Author(s): Subramanian Sriram
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 1999
ISBN: 9781451858617
Keywords: Asia, financial system, money demand, cointegration, error-correction, inflation, equation
This paper analyses demand for M2 in Malaysia from August 1973 to December 1995 under both the closed- and open-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic erro...
The Demand for Money in Developing Countries »
Source: The Demand for Money in Developing Countries : Assessing the Role of Financial innovation
Volume/Issue: 1991/45
Series: IMF Working Papers
Author(s): Jose De Gregorio , Peter Wickham , Patricio Arrau , and Carmen Reinhart
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 1991
ISBN: 9781451974218
Keywords: money demand, equation, cointegration, inflation
Traditional specifications of money demand have been commonly plagued by persistent overprediction, implausible parameter estimates, and highly autocorrelated errors. This paper argues that some of those problems s...
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...
Dread of Depreciation »
Source: Dread of Depreciation : Measuring Real Exchange Rate Interventions
Volume/Issue: 2002/63
Series: IMF Working Papers
Author(s): Jayasri Dutta
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2002
ISBN: 9781451848434
Keywords: interventions, parity conditions, exchange rates, exchange rate, real exchange rate, equation,
We specify an empirical framework to detect the effects of official intervention on real exchange rate dynamics. Using data for 27 advanced and emerging market economies, we find evidence that interventions are a n...
Evidenceon the Fiscal and Macroeconomic Impact of Privatization »
Source: Evidenceon the Fiscal and Macroeconomic Impact of Privatization
Volume/Issue: 2000/130
Series: IMF Working Papers
Author(s): Steven Barnett
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 July 2000
ISBN: 9781451855180
Keywords: privatization proceeds, impact of privatization, equation, samples
This paper empirically investigates the relationship between privatization and measures of fiscal and macroeconomic performance. One of the main findings is that privatization proceeds transferred to the budget ten...
Financial Deepening, Inequality, and Growth »
Source: Financial Deepening, Inequality, and Growth : A Model-Based Quantitative Evaluation
Volume/Issue: 2003/193
Series: IMF Working Papers
Author(s): Robert Townsend , and Kenichi Ueda
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2003
ISBN: 9781451859836
Keywords: Financial deepening, inequality, growth, transitional dynamics, growth rate, equation, gdp growth, law of large numbers, gdp growth rate, Model Evaluation and Selection
We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how...
Financial Development and Economic Growth »
Source: Financial Development and Economic Growth : An Economic Analysis for Singapore
Volume/Issue: 1996/15
Series: IMF Working Papers
Author(s): Lamin Leigh
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 1996
ISBN: 9781451843217
Keywords: equation, statistics, growth model, time series, cointegration
With the emergence of the rapidly expanding literature on endogenous growth, the relationship between financial development and economic growth has received a new source of inspiration. Recent cointegration techniq...