Macro-Financial Linkages — IMF Ninth Jacques Polak Annual.

The work under this topic has made significant progress in tackling the issues of financial inclusion, macroprudential policies, and capital flows. What follows is a brief description of how the topic on understanding macro-financial linkages has evolved over the three phases of the DFID-IMF partnership on research on the macroeconomics of LICs.

Reversing the Financial Accelerator: Credit Conditions.

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.Macrofinancial linkages have long been at the core of the IMF's mandate to oversee the stability of the global financial system. With the advent of the economic crisis, the Fund has drawn on this research in order to contribute to critical debates on the nature of appropriate policy responses at both the national and multilateral levels.Macro-Financial Linkages in Shallow Markets Experience from the African Department’s Pilot Countries This paper assesses and disseminates experiences and lessons from low-income countries (LICs) in Sub-Saharan Africa that were selected by the Africa Department in 2015-16 as pilots for enhanced analysis of macro-financial linkages in Article IV staff reports.


The 2008 financial crisis highlighted the challenges associated with global financial integration, emphasized the importance of macro financial linkages and challenged pre-crisis financial stability regimes. Policies in both the macroeconomic and financial sector arenas are now being debated and.He has published many papers on a large range of topics, and builds multi-country models, and models of the oil market, to support the IMF’s surveillance activities. More recently, he has been working on models with strong macro-financial linkages designed to support macro prudential policies. Prior to joining the IMF, Mr. Laxton held.

Macro Financial Linkages In Imf Research Papers

The IMF conducts substantial research in the field of macro-financial linkages and this has generally been of good quality, but it has suffered from a limited diversity of conceptual approaches.

Macro Financial Linkages In Imf Research Papers

The deepening financial liberalisation and the tightening of financial integration globally have made it more challenging to manage macroeconomic policies in general, and to contain the spread of financial turbulence in particular. The financial sector has been shown to be inherently pro-cyclical and capable of amplifying macroeconomic volatilities, making management of monetary policy.

Macro Financial Linkages In Imf Research Papers

A time-varying parameter FAVAR shows that global financial shocks, measured as unexpected changes in a US financial condition index, strongly impact growth in the nine countries considered. In addition, financial shocks in 2008 explain approximately 20% of the GDP growth variation in the 9 countries, as opposed to an average of 5% percent.

Macro Financial Linkages In Imf Research Papers

The macro-financial scenario design is usually based on statistical models aimed at capturing the macro-financial linkages at work. In this respect, Jones et al. (2004) discusses advantages and disadvantages of structural models.

Macro Financial Linkages In Imf Research Papers

Abstract. This study reviews the research on macro-financial linkages at the IMF since 2005. It found that from 2005 to mid-2007, the amount of IMF research on macro-financial issues was limited and the rather small amount of such research that was potentially relevant was not particularly well integrated with the Fund’s operational work.

Modeling with Macro-Financial Linkages - IMF eLibrary.

Macro Financial Linkages In Imf Research Papers

The IMF has had extensive involvement in the stress testing of financial systems in its member countries. This book presents the methods and models that have been developed by IMF staff over the years and that can be applied to the gamut of financial systems. An added resource for readers is the companion CD-Rom, which makes available the toolkit with some of the models presented in the book.

Macro Financial Linkages In Imf Research Papers

Essays on Macro Financial Linkages. Angela Abbate. Thesis submitted for assessment with a view to obtaining the degree of Doctor of Economics of the European University Institute Florence, 14 January 2016. European University Institute. Department of Economics. Essays on Macro Financial Linkages. Angela Abbate. Thesis submitted for assessment with a view to obtaining the degree of.

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Macro Financial Linkages In Imf Research Papers

Macro-Financial Interactions in a Changing World Eddie Gerbay Danilo Leiva-Leonz Abstract We measure the time-varying strength of macro- nancial linkages within and across the US and euro area economies by relying on factor models with drifting parameters, where real and nancial cycles are extracted and shocks are identi ed via sign and.

Macro Financial Linkages In Imf Research Papers

Neeltje van Horen is a Senior Research Advisor at the Research Hub of the Bank of England and a Research Fellow of the CEPR. Prior to joining the Bank of England she worked as a Senior Economist at De Nederlandsche Bank and as a Financial Economist at the World Bank.

Macro Financial Linkages In Imf Research Papers

The 2008 financial crisis has highlighted the challenges associated with global financial integration and has emphasized the importance of macro financial linkages. Specifically it has shown how real (business cycles) can interact with and be amplified by the financial sector, resulting in high pro-cyclicality and a buildup of systemic risk in.

Macrofinancial Linkages - International Monetary Fund.

Macro Financial Linkages In Imf Research Papers

Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an.

Macro Financial Linkages In Imf Research Papers

Working papers. Economics and Finance department faculty disseminate their research in working papers here, and is intended for publication within a period of one to three years. Please click on the year to find their research output.

Macro Financial Linkages In Imf Research Papers

Research Analyst in the Macro-Financial Linkages Division Reference 2016-168-EXT Type of contract Fixed-term contract until 31 December 2017, which may be extended subject to individual performance and organisational.

Macro Financial Linkages In Imf Research Papers

Macro-financial linkages and bank behaviour: evidence from the second-round effects of the global financial crisis on East Asia Chau H.A. Le1 Abstract This paper studies the link between macro-financial variability and bank behaviour, which justifies the second-round effects of the global financial crisis on East Asia. Following.

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