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The Problem that Wasn't : Coordination Failures in Sovereign Debt Restructurings

Author/Editor: Jeronimo Zettelmeyer, Marcos Chamon, Ran Bi.

Release Date:November, 2011

Contrary to widespread expectation, debt renegotiations in the era of bond finance have generally been quick and involved little litigation. We present a model that rationalizes the initial fears and more...



Price: $18.00
Country Insurance Using Financial Instruments

Author/Editor: Luca Antonio Ricci, Marcos Chamon, Yuanyan Sophia Zhang.

Release Date:July, 2011

The availability of financial instruments related to indices that track global financial conditions and risk appetite can potentially offer countries alternative options to insure against external more...



Price: $18.00
Managing Capital Inflows:What Tools to Use?

Author/Editor: Jonathan David Ostry, Atish R Ghosh, Karl F Habermeier, Luc Laeven, Marcos d Chamon, Mahvash S Qureshi, Annamaria Kokenyne.

Release Date:April, 2011

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are more...



Price: $20.00
Income Uncertainty and Household Savings in China

Author/Editor: Kai Liu, Marcos Chamon, Eswar Prasad.

Release Date:December, 2010

China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain more...



Price: $18.00
Capital Inflows:The Role of Controls

Author/Editor: Jonathan David Ostry, Atish R Ghosh, Karl F Habermeier, Marcos d Chamon, Mahvash S Qureshi, Dennis B S Reinhardt.

Release Date:February, 2010

With the global economy beginning to emerge from the financial crisis, capital is flowing back to emerging market countries (EMEs). These flows, and capital mobility more generally, allow countries more...



Price: $5.00
The Myth of Post-Reform Income Stagnation : Evidence from Brazil and Mexico

Author/Editor: Irineu E. de Carvalho Filho, Marcos Chamon.

Release Date:August, 2008

Economic policies are often judged by a handful of statistics, some of which may be biased during periods of change. We estimate the income growth implied by the evolution of food demand and durable more...



Price: $18.00
Why are Saving Rates of Urban Households in China Rising?

Author/Editor: Marcos Chamon, Eswar Prasad.

Release Date:June, 2008

From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to ¼ of disposable income. We use household-level data to explain the postponing of consumption more...



Price: $18.00
Is There a Novelty Premium on New Financial Instruments? The Argentine Experience with GDP-Indexed Warrants

Author/Editor: Luca Antonio Ricci, Marcos Chamon, Alejo Costa.

Release Date:April, 2008

This paper examines the Argentine experience with GDP-indexed warrants in order to gauge the existence of a novelty premium on new financial instruments. It develops a Monte Carlo pricing exercise to more...



Price: $18.00
The Myth of Post-Reform Income Stagnation in Brazil

Author/Editor: Irineu E de Carvalho Filho, Marcos Chamon.

Release Date:December, 2006

This paper uses Engel curves to estimate real income growth in Brazil. The estimated per capita household real income growth in metropolitan areas during 1987-2002 is about 4½ percent per year, well more...



Price: $18.00
Economic Transformation, Population Growth, and the Long-Run World Income Distribution

Author/Editor: Marcos Chamon, Michael Kremer.

Release Date:January, 2006

This paper considers the long-run evolution of the world economy in a model where countries' opportunities to develop depend on their trade with advanced economies. As developing countries become more...



Price: $15.00
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