|Demographics, Pension Systems and the Saving-Investment Balance|
Author/Editor: Hua Chai, Jun Il Kim.
Release Date:December, 2018
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small more...
|Debt Maturity : Does It Matter for Fiscal Space?|
Author/Editor: Jun Il Kim.
Release Date:December, 2015
This paper examines how debt maturity affects the debt limit, defined as the maximum amount of debt a government can afford without defaulting. We develop a model where investors are risk neutral, more...
|Impact of Demographic Changes on Inflation and the Macroeconomy|
Author/Editor: Jong-Won Yoon, Jinill Kim, Jungjin Lee.
Release Date:November, 2014
The ongoing demographic changes will bring about a substantial shift in the size and theage composition of the population, which will have significant impact on the global economy. Despite more...
|Assessing Reserve Adequacy in Low-Income Countries|
Author/Editor: Valerio Crispolti, Era Dabla-Norris, Jun Il Kim, Kazuko Shirono, George C. Tsibouris.
Release Date:March, 2013
Low-income countries routinely experience exogenous disturbances&#x2014;sharp swings in the terms of trade, export demand, natural disasters, and volatile financial flows&#x2014;that more...
Author/Editor: Atish R. Ghosh, Jun Il Kim, Mahvash Saeed Qureshi, Juan Zalduendo.
Release Date:January, 2012
This paper examines why surges in capital flows to emerging market economies (EMEs) occur, and what determines the allocation of capital across countries during such surge episodes. We use two more...
|Optimal Precautionary Reserves for Low-Income Countries : A Cost-Benefit Analysis|
Author/Editor: Era Dabla-Norris, Jun Il Kim, Kazuko Shirono.
Release Date:October, 2011
This paper develops a cost-benefit approach that helps to quantify the optimal level of international reserves in low-income countries, focusing on the role of reserves in preventing and mitigating more...
Author/Editor: Jonathan David Ostry, Atish R. Ghosh, Jun Il Kim, Mahvash Qureshi.
Release Date:September, 2010
In this note, the authors reexamine the issue of debt sustainability in a large group of advanced economies. Their hypothesis is that, when debt is in a moderate range, its dynamics are sustainable more...
|Coping with the Crisis: Policy Options for Emerging Market Countries : Policy Options for Emerging Market Countries|
Author/Editor: Christopher W. Crowe, Jonathan David Ostry, Jun Il Kim, Marcos Chamon, Atish R. Ghosh.
Release Date:April, 2009
|Equilibrium Non-Oil Current Account Assessments for Oil Producing Countries|
Author/Editor: Alun H. Thomas, Jun Il Kim, Aqib Aslam.
Release Date:August, 2008
This paper introduces a methodology for assessing external balance in countries with large stocks of non-renewable resources based on oil stock data, and applies it to selected oil producing more...
|Sudden Stops and Optimal Self-Insurance|
Author/Editor: Jun Il Kim.
Release Date:June, 2008
This paper presents a simple model of optimal reserves that can be easily calibrated to compute optimal reserves as well as the implied probability of a sudden stop for given reserves. The model more...