Author/Editor: Olaf Unteroberdoerster.

Release Date: February, 2014

Cambodia is poised to join a new generation of Asian frontier economies transitioning from low-income to emerging-market. But the path to greater and more shared prosperity requires a solid more...

Author/Editor: Jose De Gregorio.

Release Date: December, 2013

This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and more...

Author/Editor: Yi Wu.

Release Date: July, 2013

This paper examines the factors affecting the weekly peso/dollar exchange rate movements between 1999 and 2013 using an error correction model. The model fits the historical data well. While copper more...

Author/Editor: Fabio Comelli.

Release Date: May, 2013

The purpose of this paper is to compare in-sample and out-of-sample performances of three parametric and non-parametric early warning systems (EWS) for currency crises in emerging market economies more...

Author/Editor: Yan Carriere-Swallow, Pablo Garcia-Silva.

Release Date: May, 2013

This paper recounts Chile’s experience with capital account policies since the 1990s. We present how two external shocks were confronted under very different macroeconomic and capital account more...

Author/Editor: Aideen Morahan, Christian B Mulder.

Release Date: May, 2013

This paper reports in detail on a survey that was circulated to reserve managing central banks of IMF member countries in April 2012. The survey aims to gain further insight into how reserve managers more...

Author/Editor: Matthew S Malloy.

Release Date: March, 2013

Using panel data for 15 economies from 2001-12, I identify determinants of central bank foreign exchange intervention in emerging markets (“EMs”) with flexible to moderately managed exchange more...

Author/Editor: Reinout De Bock, Irineu E Carvalho Filho.

Release Date: January, 2013

Episodes of increased global risk aversion, also known as risk-off episodes, have become more frequent and severe since 2007. During these episodes, currency markets exhibit recurrent patterns, as more...

Release Date: October, 2012

The October 2012 World Economic Outlook (WEO) assesses the prospects for the global recovery in light of such risks as the ongoing euro area crisis and the fiscal cliff facing U.S. policymakers. more...

Author/Editor: Ehsan U. Choudhri, Dalia Hakura.

Release Date: September, 2012

Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to more...

Release Date: August, 2012

Author/Editor: Nkunde Mwase.

Release Date: August, 2012

This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique more...

Author/Editor: Alun H. Thomas.

Release Date: August, 2012

The paper considers the determinants of exchange rate movements among sub-Saharan countries that have flexible exchange rate regimes. The determinants are based on the law of one price and interest more...

Author/Editor: Jacob Gyntelberg, Mico Loretan, Subhanij Tientip.

Release Date: August, 2012

We present empirical evidence that the Thai baht’s value is driven in part by investors’ cross-border equity portfolio rebalancing decisions. Our results are based on comprehensive more...

Release Date: July, 2012

Release Date: July, 2012

Release Date: July, 2012

Release Date: July, 2012

Release Date: July, 2012

Author/Editor: Martin D. D. Evans.

Release Date: July, 2012

This paper presents a new model for studying international capital flows and debt dynamics that emphasizes the role played by expectations concerning future trade flows and returns. I use the model more...