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Noise Traders and Herding Behavior

Noise Traders and Herding Behavior »

Source: Noise Traders and Herding Behavior

Volume/Issue: 1996/104

Series: IMF Working Papers

Author(s): Lee Redding

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1996

ISBN: 9781451947960

Keywords: noise, bond, financial markets, cash flow, bonds

Recent developments in financial economics have included many explorations into market microstructure, that is, the internal functioning of markets and the ways in which they provide liquidity to traders. An import...

Issues in Interest Rate Management and Liberalization1/

Issues in Interest Rate Management and Liberalization1/ »

Source: Issues in Interest Rate Management and Liberalization

Volume/Issue: 1990/12

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1990

ISBN: 9781451925333

Keywords: interest rates, interest rate liberalization, money market, financial markets, financial intermediaries

This paper discusses the transition strategy from administratively set interest rates to market rates. Despite worldwide trends toward financial liberalization, few monetary authorities are prepared to accept as re...

Global Bonding

Global Bonding »

Source: Global Bonding : Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets?

Volume/Issue: 2012/298

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Trung Bui

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2012

ISBN: 9781475586633

Keywords: Identification, international financial linkages, bond, equity markets, bond yields, financial markets, Estimation, Time-Series Models, General,

This paper uses a novel variant of identification through hetroscedacity to estimate spillovers across U.S., Euro area, Japanese, and UK government bond and equity markets in a vector autoregression. The results su...

Macroeconomic Model Spillovers and  Their Discontents1

Macroeconomic Model Spillovers and Their Discontents1 »

Source: Macroeconomic Model Spillovers and Their Discontents

Volume/Issue: 2013/4

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 January 2013

ISBN: 9781475519860

Keywords: Growth spillovers, macroeconomic models, international financial links, bond, bond yields, financial market, financial markets, Financial Markets and the Macroeconomy, International Policy Coordination and Transmission, Forecasting and Simulation,

The Great Recession underlined that policies in some countries can have profound spillovers elsewhere. Sadly, the solution of simulating large macroeconomic models to measure these spillovers has been found wanting...

Foreign Banks and the Vienna Initiative

Foreign Banks and the Vienna Initiative »

Source: Foreign Banks and the Vienna Initiative : Turning Sinners Into Saints?

Volume/Issue: 2012/117

Series: IMF Working Papers

Author(s): Ralph De Haas , Yevgeniya Korniyenko , Alexander Pivovarsky , and Elena Loukoianova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503463

Keywords: Foreign Banks, Vienna Initiative, Financial Crisis, State Support, subsidiaries, banking, bank subsidiaries, capital markets, bank lending

We use data on 1,294 banks in Central and Eastern Europe to analyze how bank ownership and creditor coordination in the form of the Vienna Initiative affected credit growth during the 2008-09 crisis. As part of the...

Islamic Financial Institutions and Products in the Global Financial System

Islamic Financial Institutions and Products in the Global Financial System »

Source: Islamic Financial Institutions and Products in the Global Financial System : Key Issues in Risk Management and Challenges Ahead

Volume/Issue: 2002/192

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2002

ISBN: 9781451859775

Keywords: risk management. Islamic Financial Services Board, islamic banks, banking, mudaraba, islamic bank, General Financial Markets: Government Policy and Regulation, Comparative Analysis of Economic Systems, Islamic Financial Services Board,

The provision and use of financial services and products that conform to Islamic religious principles pose special challenges for the identification, measurement, monitoring, and control of underlying risks. Effect...

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...

Is One Watchdog Better Than Three? International Experience with Integrated Financial Sector Supervision

Is One Watchdog Better Than Three? International Experience with Integrated Financial Sector Supervision »

Source: Is One Watchdog Better Than Three? International Experience with Integrated Financial Sector Supervision

Volume/Issue: 2006/57

Series: IMF Working Papers

Author(s): Martin Cihak , and Richard Podpiera

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863178

Keywords: financial services regulation, prudential supervision, supervisory agencies, integrated supervision, banking, banking supervision, regulatory environment, General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation, Regulation and Business Law: General

Over the past two decades, there has been a clear trend toward integrating the regulation and supervision of banks, nonbank financial institutions, and securities markets. This paper reviews the international exper...

Monitoring and Commitment in Bank Lending Behavior

Monitoring and Commitment in Bank Lending Behavior »

Source: Monitoring and Commitment in Bank Lending Behavior

Volume/Issue: 2005/222

Series: IMF Working Papers

Author(s): Rodolphe Blavy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

ISBN: 9781451862416

Keywords: Bank, monitoring, commitment, asymmetry of information, probability, equation, bank lending, loan commitment, Asymmetric and Private Information, Financial Markets and the Macroeconomy,

The paper proposes a theoretical argument on the nature of bank lending, based on the idea that, through commitment and monitoring, banks overcome basic informational asymmetries with borrowers. By bringing togethe...

The Effect of Capital Controlson Foreign Direct Investment Decisions Under Country Risk with Intangible Assets

The Effect of Capital Controlson Foreign Direct Investment Decisions Under Country Risk with Intangible Assets »

Source: The Effect of Capital Controlson Foreign Direct Investment Decisions Under Country Risk with Intangible Assets

Volume/Issue: 2007/79

Series: IMF Working Papers

Author(s): Kinga Elo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866438

Keywords: Foreign direct investments, decisions under uncertainty, fdi, capital control, direct investment, foreign direct investment, General Financial Markets: Government Policy and Regulation, Corporate Finance and Governance: Government Policy and Regulation,

This paper examines how capital controls affect FDI decisions and how the impact of these restrictive measures varies with different levels of country risk. We construct a model of firms' FDI decisions, broadly in...