 | Are We Heading for Another Debt Crisis in Low-Income Countries? Debt Vulnerabilities: Today vs the pre-HIPC Era Author/Editor: Chuku Chuku, Prateek Samal, Joyce Saito, Dalia S Hakura, Marcos d Chamon, Martin D Cerisola, Guillaume Chabert, Jeromin Zettelmeyer. Release Date:April, 2023 There are growing concerns that 25 years after the launch of the HIPC debt relief initiative, many low-income countries are again facing high debt vulnerabilities. This paper compares debt more...
| Price: $20.00
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| Debt-for-Climate Swaps: Analysis, Design, and Implementation Author/Editor: Marcos d Chamon, Erik Klok, Vimal V Thakoor, Jeromin Zettelmeyer. Release Date:August, 2022 This paper compares debt-for-climate swaps—partial debt relief operations conditional on debtor commitments to undertake climate-related investments—to alternative fiscal support instruments. Because more...
| Price: $20.00
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| Intervention Under Inflation Targeting--When Could It Make Sense? Author/Editor: David J Hofman, Marcos d Chamon, Pragyan Deb, Thomas Harjes, Umang Rawat, Itaru Yamamoto. Release Date:January, 2020 We investigate the motives inflation-targeting central banks in emerging markets may have for intervening in foreign exchange markets and evaluate the case for such interventions based on the more...
| Price: $18.00
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| Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel Author/Editor: Tamon Asonuma, Marcos d Chamon, Aitor Erce, Akira Sasahara. Release Date:March, 2019 Sovereign debt restructurings are associated with declines in GDP, investment, bank credit, and capital flows. The transmission channels and associated output and banking sector costs depend on more...
| Price: $18.00
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 | Foreign Exchange Intervention in Inflation Targeters in Latin America Author/Editor: Marcos d Chamon, David J Hofman, Nicolas E Magud, Alejandro M Werner. Release Date:February, 2019 Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate more...
| Price: $30.00
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| A Model to Assess the Probabilities of Growth, Fiscal, and Financial Crises Author/Editor: Suman S Basu, Marcos Chamon, Christopher W Crowe. Release Date:December, 2017 This paper summarizes a suite of early warning models to assess the probabilities of growth, fiscal, and financial crises in advanced economies and emerging markets. We estimate separate more...
| Price: $18.00
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| Trade Costs of Sovereign Debt Restructurings : Does a Market-Friendly Approach Improve the Outcome? Author/Editor: Tamon Asonuma, Marcos Chamon, Akira Sasahara. Release Date:November, 2016 Sovereign debt restructurings have been shown to influence the dynamics of imports and exports. This paper shows that the impact can vary substantially depending on whether the restructuring takes more...
| Price: $18.00
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| Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence Author/Editor: Olivier J. Blanchard, Jonathan David Ostry, Atish R. Ghosh, Marcos Chamon. Release Date:October, 2015 The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that more...
| Price: $18.00
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| Consumption Based Estimates of Urban Chinese Growth Author/Editor: Marcos Chamon, Irineu E Carvalho Filho. Release Date:December, 2013 This paper estimates the household income growth rates implied by food demand in a sample of urban Chinese households in 1993–2005. Our estimates, based on Engel curves for food consumption, more...
| Price: $18.00
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 | Two Targets, Two Instruments : Monetary and Exchange Rate Policies in Emerging Market Economies Author/Editor: Jonathan David Ostry, Atish R Ghosh, Marcos d Chamon. Release Date:February, 2012 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: $10.00
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