Money Monetary Policy category: 1222 books

To assess the overall impact of the financial regulatory initiatives on U.S., European, and Japanese financial institutions and their respective economies. It will examine the existing analyses on the impact of the regulatory initiatives by the financial industry (financial analysts, industry associations,...

The proposed SDN, prepared by a team of MCM/LEG experts, analyses whether bail-in -- defined as a statutory power to recapitalize a distressed SIFI by converting and/or writing down its unsecured debt -- could be a useful complementary tool to other resolution powers. More specifically, the note studies...

This note will provide guidance from a practitioner’s or policymaker’s perspective on how to design fiscal frameworks in natural resource intensive countries. It will lay out principles that should help countries to meet development needs while dealing with the resource revenue volatility, uncertainty, and exhaustibility (intergenerational equity).

The financial crisis has again brought home the profound financial linkages across countries, often manifest in highly volatile capital flows. This volatility has prompted interest in possible rules of the road to guide policies in both source and recipient countries. This note discusses the analytical...

Small and medium-sized enterprises (SMEs) account for a disproportionate share of output and employment in Europe but are still highly dependent on bank finance, which dried up or became prohibitively expensive during the crisis. Broader access to alternative, long-term finance through securitization...

As large emerging market economies take on an increasing role in the global economy, it is useful to explore the possibility of their currencies attaining “international” status. The benefits of currency “internationalization” have to be balanced against country-specific and systemic risks...

Over the past two decades, China's robust economic performance has propelled it to the world stage. At the same time, the world has increasingly scrutinized China's economic policies and activities. One of the hotly contested issues is China's foreign exchange rate policy. China's current reform and...

This paper does two things. First, it articulates what are the main implications of theoretical and empirical research for design of labor market policies and labor market institutions. Second, in this light, the paper analyzes the IMF’s labor market recommendations since the beginning of the crisis, both in general, and more specifically in program countries

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The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current...

Growth in much of Sub-Saharan Africa is expected to remain strong, driven by efforts to invest in infrastructure and strong agricultural production. The current Ebola outbreak in Guinea, Liberia, and Sierra Leone is exacting a heavy toll, with spillovers to neighboring countries. External threats to...