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Unanticipated Shocks and Systemic Influences
			: The Impact of Contagion in Global Equity Markets in 1998

Unanticipated Shocks and Systemic Influences : The Impact of Contagion in Global Equity Markets in 1998 »

Volume/Issue: 2003/84

Series: IMF Working Papers

Author(s): Brenda Gonzalez-Hermosillo , Vance Martin , Renee Fry , and Mardi Dungey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

DOI: http://dx.doi.org/10.5089/9781451850666.001

ISBN: 9781451850666

Keywords: Contagion, International Spillovers, Russia, LTCM, financial markets, bond, equity market, Multiple or Simultaneous Equation Models: Models with Panel Data, Financial Markets and the Macroeconomy, International Lending and Debt Problems,

August to September 1998 has been characterized as one of the worst episodes of global financial distress in decades. This paper investigates the transmission of the Russian and the LTCM crises through global equit...

Can Global Liquidity Forecast Asset Prices?

Can Global Liquidity Forecast Asset Prices? »

Volume/Issue: 2010/196

Series: IMF Working Papers

Author(s): Reginald Darius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455205264.001

ISBN: 9781455205264

Keywords: Asset Price, Spillover Analysis, central bank, global financial crisis, private credit, Financial Markets and the Macroeconomy,

During the period leading up to the global financial crisis many asset classes registered rapid price increases. This coincided with a significant rise in global liquidity. This paper attempts to determine the exte...

Global and Regional Spillovers to GCC Equity Markets

Global and Regional Spillovers to GCC Equity Markets »

Volume/Issue: 2011/138

Series: IMF Working Papers

Author(s): Tahsin Saadi Sedik , and Oral Williams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455265435.001

ISBN: 9781455265435

Keywords: GCC, contagion, equity markets, stock market, market capitalization, foreign participation, Financial Aspects of Economic Integration, Financial Markets and the Macroeconomy,

This paper analyzes the impact of global and regional spillovers to GCC equity markets. GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation. Spil...

Macroprudential Policy, Incomplete Information and Inequality
			: The case of Low-Income and Developing Countries

Macroprudential Policy, Incomplete Information and Inequality : The case of Low-Income and Developing Countries »

Volume/Issue: 2017/59

Series: IMF Working Papers

Author(s): Margarita Rubio , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2017

DOI: http://dx.doi.org/10.5089/9781475588057.001

ISBN: 9781475588057

Keywords: Credit, Low-income developing countries, Macroprudential Policy, incomplete information, collateral requirements, inequality, Financial Markets and the Macroeconomy, Government Policy and Regulation

In this paper, we use a DSGE model to study the passive and time-varying implementation of macroprudential policy when policymakers have noisy and lagged data, as commonly observed in lowincome and developing count...

Inequality, Leverage and Crises: The Case of Endogenous Default

Inequality, Leverage and Crises: The Case of Endogenous Default »

Source: Inequality, Leverage and Crises : The Case of Endogenous Default

Volume/Issue: 2013/249

Series: IMF Working Papers

Author(s): Michael Kumhof , Romain Ranciere , and Pablo Winant

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2013

ISBN: 9781484310762

Keywords: wealth inequality, debt leverage, wealth in utility, global solution methods, recession, crisis probability, Aggregate Factor Income Distribution, Financial Markets and the Macroeconomy, wealth inutility, global solution methods.,

The paper studies how high household leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income s...

Macroprudential Policy, Incomplete Information and Inequality

Macroprudential Policy, Incomplete Information and Inequality »

Source: Macroprudential Policy, Incomplete Information and Inequality : The case of Low-Income and Developing Countries

Volume/Issue: 2017/59

Series: IMF Working Papers

Author(s): Margarita Rubio , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2017

ISBN: 9781475588057

Keywords: Credit, Low-income developing countries, Macroprudential Policy, incomplete information, collateral requirements, inequality, Financial Markets and the Macroeconomy, Government Policy and Regulation

In this paper, we use a DSGE model to study the passive and time-varying implementation of macroprudential policy when policymakers have noisy and lagged data, as commonly observed in lowincome and developing count...

A network analysis of global banking

A network analysis of global banking »

Source: A network analysis of global banking : 1978-2009

Volume/Issue: 2011/74

Series: IMF Working Papers

Author(s): Javier Reyes , and Camelia Minoiu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

ISBN: 9781455227051

Keywords: cross-border bank lending, network analysis, banking, banking crises, banking statistics, contagion, Financial Markets and the Macroeconomy, International Lending and Debt Problems,

In this paper we explore the properties of the global banking network using cross-border bank lending data for 184 countries over 1978-2009. Specifically, we analyze financial interconnectedness using network metri...

The Quality Effect

The Quality Effect »

Source: The Quality Effect : Does Financial Liberalization Improve the Allocation of Capital?

Volume/Issue: 2004/112

Series: IMF Working Papers

Author(s): Abdul Abiad , Nienke Oomes , and Kenichi Ueda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451853636

Keywords: Tobin&;amp;#x2019;s Q, financial liberalization, allocative efficiency, inequality, stock market, financial deepening, stock market turnover, stock market capitalization, Financial Markets and the Macroeconomy, General Financial Markets: Government Policy and Regulation,

The study documents evidence of a "quality effect" of financial liberalization on allocative efficiency, which is measured by the dispersion in Tobin's Q across firms. Based on a simple model, the authors predict t...

The Redistributive Effects of Financial Deregulation1

The Redistributive Effects of Financial Deregulation1 »

Source: The Redistributive Effects of Financial Deregulation

Volume/Issue: 2013/247

Series: IMF Working Papers

Author(s): Anton Korinek , and Jonathan Kreamer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2013

ISBN: 9781475546088

Keywords: Financial Regulation, Distributive Conflict, Rent Extraction, Growth of the Financial Sector, bankers, bank capital, bank equity, Aggregate Factor Income Distribution, Financial Markets and the Macroeconomy, Government Policy and Regulation,

Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial...

Slowdown of Credit Flows in Jordan in the Wake of the Global Financial Crisis

Slowdown of Credit Flows in Jordan in the Wake of the Global Financial Crisis »

Source: Slowdown of Credit Flows in Jordan in the Wake of the Global Financial Crisis : Supply or Demand Driven?

Volume/Issue: 2010/256

Series: IMF Working Papers

Author(s): Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455209569

Keywords: credit crunch, equation, monetary policy, supply equation, monetary fund, probability, Financial Markets and the Macroeconomy, Financial Institutions and Services: Government Policy and Regulation,

This paper estimates a disequilibrium model of credit supply and demand to evaluate the relative role of these factors in the slowdown of credit flows in the Jordanian economy in the wake of the global financial cr...