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Global Business Cycles

Global Business Cycles »

Source: Global Business Cycles : Convergence or Decoupling?

Volume/Issue: 2008/143

Series: IMF Working Papers

Author(s): Ayhan Kose , Eswar Prasad , and Christopher Otrok

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870015

Keywords: macroeconomic fluctuations, convergence, decoupling, business cycle, globalization period, business cycle fluctuations,

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets,...

Global Financial Shocks and Foreign Asset Repatriation

Global Financial Shocks and Foreign Asset Repatriation »

Source: Global Financial Shocks and Foreign Asset Repatriation : Do Local Investors Play a Stabilizing Role?

Volume/Issue: 2014/60

Series: IMF Working Papers

Author(s): Gustavo Adler , Marie-Louise Djigbenou , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2014

ISBN: 9781484353349

Keywords: gross capital flows, foreign assets, global financial shocks, capital inflows, net capital, net capital flows, capital outflows, General, Open Economy Macroeconomics,

We study the dynamic response of gross capital flows in emerging market economies to different global financial shocks, using a panel vector-autoregressive (PVAR) setting. Our focus lies primarily on the potentiall...

Global House Price Fluctuations

Global House Price Fluctuations »

Source: Global House Price Fluctuations : Synchronization and Determinants

Volume/Issue: 2013/38

Series: IMF Working Papers

Author(s): Hideaki Hirata , Ayhan Kose , Christopher Otrok , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2013

ISBN: 9781475523621

Keywords: globalization, globalization period, inflation, long-term interest rates, Monetary Policy (Targets, Instruments, and Effects), Housing Supply and Markets,

We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, w...

Global Liquidity and Drivers of Cross-Border Bank Flows*

Global Liquidity and Drivers of Cross-Border Bank Flows* »

Source: Global Liquidity and Drivers of Cross-Border Bank Flows

Volume/Issue: 2014/69

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Stijn Claessens , and Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2014

ISBN: 9781475517729

Keywords: F21, F34, G15, G18, G21, G28, banking, bank claims, bank borrowers, International Lending and Debt Problems

This paper provides a definition of global liquidity consistent with its meaning as the 'ease of financing' in international financial markets. Using a longer time series and broader sample of countries than in pre...

A Global Perspectiveon External Positions

A Global Perspectiveon External Positions »

Source: A Global Perspectiveon External Positions

Volume/Issue: 2005/161

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , and Philip Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2005

ISBN: 9781451861808

Keywords: external assets and liabilities, foreign assets, foreign asset, net foreign assets, net foreign asset,

This paper highlights the increased dispersion in net external positions in recent years, particularly among industrial countries. It provides a simple accounting framework that disentangles the factors driving the...

A Global View of the U.S. Investment Position

A Global View of the U.S. Investment Position »

Source: A Global View of the U.S. Investment Position

Volume/Issue: 2005/181

Series: IMF Working Papers

Author(s): Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

ISBN: 9781451862003

Keywords: Home bias, international investment, foreign assets, industrial countries, financial markets, foreign investors, International Lending and Debt Problems, Financial Aspects of Economic Integration,

This paper analyzes various indicators of the U.S. international investment position from a portfolio perspective. The 1990s saw a decline in home bias, which, coupled with rapid financial deepening, led to a large...

Globalization of Financial Markets and Implications for Pacific Basin Developing Countries*

Globalization of Financial Markets and Implications for Pacific Basin Developing Countries* »

Source: Globalization of Financial Markets and Implications for Pacific Basin Developing Countries

Volume/Issue: 1991/34

Series: IMF Working Papers

Author(s): David Goldsbrough , and Ranjit Teja

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1991

ISBN: 9781451978780

Keywords: capital mobility, financial intermediation, financial markets, capital flows

This paper analyzes the consequences of the growing interdependence of world financial markets for Pacific developing countries. Section I discusses trends in financial integration in the Pacific and the underlying...

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels »

Source: How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

Volume/Issue: 2007/238

Series: IMF Working Papers

Author(s): Marco Terrones , Ayhan Kose , and Eswar Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

ISBN: 9781451868029

Keywords: risk sharing, emerging markets, financial globalization,

In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk...

How Does Globalization Affect the Synchronization of Business Cycles?

How Does Globalization Affect the Synchronization of Business Cycles? »

Source: How Does Globalization Affect the Synchronization of Business Cycles?

Volume/Issue: 2003/27

Series: IMF Working Papers

Author(s): Ayhan Kose , Eswar Prasad , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 March 2003

ISBN: 9781451844542

Keywords: Macroeconomic fluctuations, trade and financial integration, output and consumption comovement, correlations, financial integration, capital flows, correlation, Open Economy Macroeconomics, International Policy Coordination and Transmission,

This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited su...

A Global Perspectiveon External Positions

A Global Perspectiveon External Positions »

Volume/Issue: 2005/161

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , and Philip Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2005

DOI: http://dx.doi.org/10.5089/9781451861808.001

ISBN: 9781451861808

Keywords: external assets and liabilities, foreign assets, foreign asset, net foreign assets, net foreign asset,

This paper highlights the increased dispersion in net external positions in recent years, particularly among industrial countries. It provides a simple accounting framework that disentangles the factors driving the...