|Optimal Prudential Regulation of Banks and the Political Economy of Supervision|
Author/Editor: Thierry Tressel, Thierry Verdier.
Release Date:May, 2014
We consider a moral hazard economy in banks and production to study how incentives for risk taking are affected by the quality of supervision. We show that low interest rates may generate excessive more...
|Obstacles to International Policy Coordination, and How to Overcome Them|
Author/Editor: Jonathan David Ostry, Atish R Ghosh.
Release Date:December, 2013
In bilateral and multilateral surveillance, countries are often urged to consider alternative policies that would result in superior outcomes for the country itself and, perhaps serendipitously, for more...
|Outlook for Interest Rates and Japanese Banks Risk Exposures under Abenomics|
Author/Editor: Serkan Arslanalp, Raphael W Lam.
Release Date:October, 2013
This paper examines how Japan’s long-term interest rates and Japanese banks’ interest rate risk exposures may evolve under Abenomics. Results from a panel regression analysis for major advanced more...
|Options and Strategies for Fiscal Consolidation in India|
Author/Editor: Sampawende J -A Tapsoba.
Release Date:May, 2013
The paper uses a multi-region DSGE model to quantify the macroeconomic implications ofthree adjustment scenarios for India: growth-friendly, social-friendly, and a benchmark casecentered on bringing more...
|Outward Foreign Direct Investment and Domestic Investment: the Case of Developing Countries|
Author/Editor: Ali J Al-sadiq.
Release Date:February, 2013
Over the past two decades, the growth rate of outward foreign direct investment (FDI) from developing and transition economies has increased significantly. Given the role of physical capital more...
|Okun's Law: Fit at 50?|
Author/Editor: Laurence M Ball, Daniel Leigh, Prakash Loungani.
Release Date:January, 2013
This paper asks how well Okun’s Law fits short-run unemployment movements in the United States since 1948 and in twenty advanced economies since 1980. We find that Okun’s Law isa strong and more...
|Optimal Oil Production and the World Supply of Oil|
Author/Editor: Nikolay Aleksandrov, lajos Gyurko, Raphael A Espinoza.
Release Date:December, 2012
We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state more...
|On the Sources and Consequences of Oil Price Shocks: the Role of Storage|
Author/Editor: Deren Unalmis, Ibrahim Unalmis, D Filiz Unsal.
Release Date:November, 2012
Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally more...
|Oil and the World Economy: Some Possible Futures|
Author/Editor: Michael Kumhof, Dirk Muir.
Release Date:October, 2012
This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future more...
|Oil Wealth in Central Africa : Policies for Inclusive Growth|
Author/Editor: Bernardin Akitoby, Sharmini Coorey.
Release Date:August, 2012
Despite its vast oil wealth, central Africa still struggles to sustain strong, inclusive economic growth and to generate sufficient employment opportunities, particularly for its fast-growing youth more...