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United Arab Emirates

United Arab Emirates »

Source: United Arab Emirates : Dubai International Financial Centre: Financial Sector Assessment Program: Detailed Assessment of Observance of IOSCO Objectives and Principles of Securities Regulation

Volume/Issue: 2007/365

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 2007

ISBN: 9781451801200

Keywords: law, regulatory law, securities regulation, risk management, enforcement powers

This Detailed Assessment of the Observance of International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation for the Dubai International Financial Centre (DIFC) disc...

Modeling Correlated Systemic Liquidity and Solvency Risks in a Financial Environment with Incomplete Information

Modeling Correlated Systemic Liquidity and Solvency Risks in a Financial Environment with Incomplete Information »

Source: Modeling Correlated Systemic Liquidity and Solvency Risks in a Financial Environment with Incomplete Information

Volume/Issue: 2011/263

Series: IMF Working Papers

Author(s): Liliana Schumacher , and Theodore Barnhill

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463924614

Keywords: Solvency risk, systemic liquidity, probability, banking, banking system, bank failures, probabilities, General Financial Markets: Other,

This paper proposes and demonstrates a methodology for modeling correlated systemic solvency and liquidity risks for a banking system. Using a forward looking simulation of many risk factors applied to detailed bal...

Riding the Yield Curve: Risk Taking Behavior in a Low Interest Rate Environment*

Riding the Yield Curve: Risk Taking Behavior in a Low Interest Rate Environment* »

Source: Riding the Yield Curve: Risk Taking Behavior in a Low Interest Rate Environment

Volume/Issue: 2020/53

Series: IMF Working Papers

Author(s): Ralph Chami , Thomas Cosimano , Celine Rochon , and Julieta Yung

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2020

ISBN: 9781513531861

Keywords: Interest rate increases, Discount rates, Risk premium, Financial markets, Financial instruments, Interest rate risk, non-linear stochastic discount factor, investment portfolio, term structure model, risk aversion distribution

Investors seek to hedge against interest rate risk by taking long or short positions on bonds of different maturities. We study changes in risk taking behavior in a low interest rate environment by estimating a mar...

Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific

Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific »

Source: Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific

Volume/Issue: 2015/125

Series: IMF Working Papers

Author(s): Ezequiel Cabezon , Leni Hunter , Patrizia Tumbarello , Kazuaki Washimi , and Yiqun Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2015

ISBN: 9781513525792

Keywords: natural disasters, climate change, panel VAR, disaster risk management, disasters, disaster, natural disaster, damage, Environment and Growth, International Monetary Arrangements and Institutions,

Natural disasters and climate change are interrelated macro-critical issues affecting all Pacific small states to varying degrees. In addition to their devastating human costs, these events damage growth prospects...

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF »

Source: Small States Resilience to Natural Disasters and Climate Change - Role for the IMF

Volume/Issue: 2016/038

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

ISBN: 9781498345095

Keywords: Climatic changes, Debt sustainability, Developing countries, Emergency assistance, External shocks, Financial sector, Fiscal policy, Fund role, Monetary policy, Small states

Small developing states are disproportionately vulnerable to natural disasters. On average, the annual cost of disasters for small states is nearly 2 percent of GDP-more than four times that for larger countries. T...

Primeron Reforms in a Second-Best Ambiguous Environment

Primeron Reforms in a Second-Best Ambiguous Environment »

Source: Primeron Reforms in a Second-Best Ambiguous Environment : A Case for Gradualism

Volume/Issue: 2002/50

Series: IMF Working Papers

Author(s): S. Erbas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451846980

Keywords: reform, sequencing, gradualism, big bang, uncertainty, ambiguity, flexibility, reform outcomes, reform package, expected value

Ambiguity, as opposed to uncertainty, reflects lack of sufficient information about distribution and payoffs of infrequent events. Reforms are infrequent events, undertaken in ambiguous second-best environments whe...

Restoring Sustainability in a Changing Global Environment: Options for Swaziland

Restoring Sustainability in a Changing Global Environment: Options for Swaziland »

Source: Restoring Sustainability in a Changing Global Environment : Options for Swaziland

Volume/Issue: 2013/1

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , and Borislava Mircheva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2013

ISBN: 9781475589412

Keywords: Banking sector, Currency pegs, Debt sustainability analysis, External shocks, Reserves, Private sector, South Africa, Spillovers, Fiscal risk, Fiscal policy

The Kingdom of Swaziland (hereinafter 'Swaziland') is a small, open economy bordering Mozambique and South Africa with a population of 1.1 million people. It is a landlocked country with an economy heavily dependen...

Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model*

Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model* »

Source: Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model

Volume/Issue: 2019/145

Series: IMF Working Papers

Author(s): Stefan Mittnik , Willi Semmler , and Alexander Haider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2019

ISBN: 9781498320849

Keywords: Real sector, Economic growth, Interest costs, Interest rates on loans, Low income countries, climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often ent...

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues »

Source: High Level Status Report to the IEO Evaluation of Fund's Recurring Issues

Volume/Issue: 2017/012

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2017

ISBN: 9781498347044

Keywords: Absorptive capacity, Accounting, Accounting systems, Agricultural subsidies, Agriculture, Anti-money laundering, Arrears policy, Balance sheets, Budgeting, Budgets

This is a high-level report on progress in addressing recurring issues identified by the Independent Evaluation Office (IEO). The Board endorsed the proposal in the Chairman's Summing Up for the Independent Evaluat...

Fiscal Buffers for Natural Disasters in Pacific Island Countries1

Fiscal Buffers for Natural Disasters in Pacific Island Countries1 »

Source: Fiscal Buffers for Natural Disasters in Pacific Island Countries

Volume/Issue: 2019/152

Series: IMF Working Papers

Author(s): Hidetaka Nishizawa , Scott Roger , and Huan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 July 2019

ISBN: 9781498320801

Keywords: Access to foreign markets, Accounting, Accounting standards, Agriculture, Aid flows, Balance of payments, Bank deposits, Bank financing, Banks, Bonds

Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spend...