Browse

You are looking at 1 - 10 of 273 items :

  • IMF Working Papers x
Clear All
Government Spending Effects in a Policy Constrained Environment

Government Spending Effects in a Policy Constrained Environment »

Source: Government Spending Effects in a Policy Constrained Environment

Volume/Issue: 2020/91

Series: IMF Working Papers

Author(s): Ruoyun Mao , and Shu-Chun Susan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513546797

Keywords: Economic conditions, Financial crises, Real interest rates, Business cycles, Economic sectors, government spending effects, fiscal multiplier, regime-switching policy, monetary and fiscal policy interaction, nonlinear New Keynesian models

The theoretical literature generally finds that government spending multipliers are bigger than unity in a low interest rate environment. Using a fully nonlinear New Keynesian model, we show that such big multiplie...

Government Spending Effects in a Policy Constrained Environment

Government Spending Effects in a Policy Constrained Environment »

Volume/Issue: 2020/91

Series: IMF Working Papers

Author(s): Ruoyun Mao , and Shu-Chun Susan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

DOI: http://dx.doi.org/10.5089/9781513546797.001

ISBN: 9781513546797

Keywords: Economic conditions, Financial crises, Real interest rates, Business cycles, Economic sectors, government spending effects, fiscal multiplier, regime-switching policy, monetary and fiscal policy interaction, nonlinear New Keynesian models

The theoretical literature generally finds that government spending multipliers are bigger than unity in a low interest rate environment. Using a fully nonlinear New Keynesian model, we show that such big multiplie...

This Changes Everything: Climate Shocks and Sovereign Bonds

This Changes Everything: Climate Shocks and Sovereign Bonds »

Volume/Issue: 2020/79

Series: IMF Working Papers

Author(s): Serhan Cevik , and João Tovar Jalles

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

DOI: http://dx.doi.org/10.5089/9781513546216.001

ISBN: 9781513546216

Keywords: Climatic changes, Bond markets, Bond yields, Municipal bonds, Financial statistics, Climate change, vulnerability, resilience, government bond yields and spreads, WP

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change an...

This Changes Everything: Climate Shocks and Sovereign Bonds

This Changes Everything: Climate Shocks and Sovereign Bonds »

Source: This Changes Everything: Climate Shocks and Sovereign Bonds

Volume/Issue: 2020/79

Series: IMF Working Papers

Author(s): Serhan Cevik , and João Tovar Jalles

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546216

Keywords: Climatic changes, Bond markets, Bond yields, Municipal bonds, Financial statistics, Climate change, vulnerability, resilience, government bond yields and spreads, WP

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change an...

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 »

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

DOI: http://dx.doi.org/10.5089/9781513531861.001

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...

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...

Transitory and Permanent Shocks in the Global Market for Crude Oil

Transitory and Permanent Shocks in the Global Market for Crude Oil »

Volume/Issue: 2020/47

Series: IMF Working Papers

Author(s): Nooman Rebei , and Rashid Sbia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2020

DOI: http://dx.doi.org/10.5089/9781513528601.001

ISBN: 9781513528601

Keywords: Oil prices, Supply and demand, Oil production, Purchasing power parity, Real sector, Oil market, Vector autoregressions, Narrative analysis, Bayesian estimation, Kalman filtering

This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evide...

Transitory and Permanent Shocks in the Global Market for Crude Oil1

Transitory and Permanent Shocks in the Global Market for Crude Oil1 »

Source: Transitory and Permanent Shocks in the Global Market for Crude Oil

Volume/Issue: 2020/47

Series: IMF Working Papers

Author(s): Nooman Rebei , and Rashid Sbia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2020

ISBN: 9781513528601

Keywords: Oil prices, Supply and demand, Oil production, Purchasing power parity, Real sector, Oil market, Vector autoregressions, Narrative analysis, Bayesian estimation, Kalman filtering

This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evide...

Managed Trade: What Could be Possible Spillover Effects of a Potential Trade Agreement Between the U.S. and China?

Managed Trade: What Could be Possible Spillover Effects of a Potential Trade Agreement Between the U.S. and China? »

Volume/Issue: 2019/251

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Shan Chen , Pragyan Deb , Albe Gjonbalaj , Swarnali Hannan , and Adil Mohommad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2019

DOI: http://dx.doi.org/10.5089/9781513518312.001

ISBN: 9781513518312

Keywords: Bilateral trade, Balance of trade, Patterns of trade, Trading systems, Trade policy, Managed trade deal, spillover effects., WP, extra purchase, size-based

The trade discussions between the U.S. and China are on-going. Not much is known about the shape and nature of a potential agreement, but it seems possible that it would include elements of managed trade. This pape...

Managed Trade: What Could be Possible Spillover Effects of a Potential Trade Agreement Between the U.S. and China?1

Managed Trade: What Could be Possible Spillover Effects of a Potential Trade Agreement Between the U.S. and China?1 »

Source: Managed Trade: What Could be Possible Spillover Effects of a Potential Trade Agreement Between the U.S. and China?

Volume/Issue: 2019/251

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Shan Chen , Pragyan Deb , Albe Gjonbalaj , Swarnali Hannan , and Adil Mohommad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2019

ISBN: 9781513518312

Keywords: Bilateral trade, Balance of trade, Patterns of trade, Trading systems, Trade policy, Managed trade deal, spillover effects., WP, extra purchase, size-based

The trade discussions between the U.S. and China are on-going. Not much is known about the shape and nature of a potential agreement, but it seems possible that it would include elements of managed trade. This pape...