07475oam 22012254 450 991077929220332120230725060418.01-4623-4249-31-4552-6436-91-283-53565-397866138481091-4623-8184-7(CKB)2550000000102761(EBL)1606394(SSID)ssj0000674633(PQKBManifestationID)11447313(PQKBTitleCode)TC0000674633(PQKBWorkID)10660922(PQKB)10266131(MiAaPQ)EBC1606394(Au-PeEL)EBL1606394(CaPaEBR)ebr10556840(CaONFJC)MIL384810(OCoLC)870244906(IMF)REOWHDEE2011001(IMF)REOWHDEA2011001(EXLCZ)99255000000010276120020129d2011 uf 0engurcn|||||||||txtccrRegional Economic Outlook, April 2011, Western Hemisphere : Watching Out for OverheatingWashington, D.C. :International Monetary Fund,2011.1 online resource (95 p.)Regional Economic OutlookWorld economic and financial surveys"Apr 11."1-61635-065-2 Includes bibliographical references (p. 76-79).Cover; Contents; Preface; Executive Summary; 1. Global, U.S., and Canadian Outlook; 1.1. The Global Outlook-A Dual Speed Expansion Proceeds with Increasing Risks; Advanced Economies; Emerging Market Economies; 1.2. United States-Ongoing Recovery with Downside Risks; Boxes; 1.1. Long-Term Outlook for the U.S. Federal Government Finances; What Kinds of Policies Are Needed?; 1.2. Household Deleveraging in the United States; 1.3. Canada-Recovery Gathers Strength; 1.4. Implications for the Latin American and Caribbean Region; 1.3. Canada's Financial System Resilience: What Can Others Learn?2. Outlook and Policy Issues for Latin America and the Caribbean 2.1. Overview; 2.2. Policy Challenges; South America-Managing Double Tailwinds; 2.1. Changing Export Patterns in Latin America and the Caribbean; South America-The Less Financially Integrated Commodity Exporters; 2.2. An Update on Macroprudential Policies; Mexico and Central America-Rebuilding Policy Buffers; The Caribbean-Recovery Beginning Amid High Debt; 2.3. Haiti: Economic Developments since the January 2010 Earthquake; 2.4. Caribbean Offshore Financial Centers: Opportunities and Challenges2.3. Dealing with the Oil and Food Price Shock Impact of Global Commodity Price Shocks on Inflation; Monetary Policy in the Face of Commodity Price Shocks; Social Policies and Commodity Price Shocks: Protecting the Poor; 2.5. The Information Value of Core Inflation; 2.4. Credit Markets and Asset Prices-Are Bubbly Conditions Taking Hold?; Bank Credit Growth; Corporate Indebtedness; Equity Prices; Housing Prices; 2.5. Capital Inflows-Guarding Against the Reversal of Favorable Global Conditions; 2.6. Stock Market Developments in the Region: The Role of CommoditiesAnnex 2.1. Estimating Inflation Pass-Throughs 3. Foreign Exchange Market Intervention: How Good a Defense Against Appreciation Winds?; 3.1. Introduction; 3.2. Key Trends; 3.1. Actual Intervention and Changes in Gross International Reserves; 3.3. Modalities of Intervention; 3.2. Foreign Exchange Intervention Rules in Practice: Selected Latin American Experiences; 3.3. Instruments for Foreign Exchange Purchases; 3.4. Searching for Effects of Intervention: New Evidence; An Econometric Panel Approach; 3.4. Channels of Transmission of Foreign Exchange Intervention to the Exchange Rate3.5. Overview of Recent Empirical Studies on Foreign Exchange Intervention in Latin America 3.5. Quasi-Fiscal Costs of FXI; 3.6. Takeaways and Policy Considerations; Annex 3.1. Foreign Exchange Intervention and International Reserves: Data Availability; Annex 3.2. Methodological Strategy for the Panel Approach; Annex 3.3. Confidence Intervals for the Synthetic Currency; Western Hemisphere: Main Economic Indicators; Latin America and the Caribbean: Main Fiscal Indicators; References; New Publications from the Western Hemisphere Department, July 2009-April 2011Despite the recent deterioration in the global economic environment, projections for the region involve only a modest worsening of the outlook. The October 2011 Regional Economic Outlook: Western Hemisphere cautions, however, that there are severe downside risks. A sharp slowdown in Asia, for example in response to a recession in advanced economies, could impact commodity prices, with negative effects on Latin American commodity exporters. With global monetary policy likely to remain accommodative, capital flows could exacerbate overheating and amplify vulnerabilities in emerging markets. Countries with strong real linkages to the United States face a somewhat weaker outlook and should give priority to reducing public debt. Although much of the Caribbean is recovering from a prolonged recession, the outlook remains constrained by high public debt and weak tourism flows. This issue finds that policies can play an important role in mitigating the economic impact of terms-of-trade shocks, and underscores the need to rebuild policy buffers.Regional Economic OutlookWestern HemisphereEconomic forecastingWestern HemisphereBanks and BankingimfForeign ExchangeimfInflationimfMacroeconomicsimfReal EstateimfPrice LevelimfDeflationimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfAgriculture: Aggregate Supply and Demand AnalysisimfPricesimfCommodity MarketsimfCurrencyimfForeign exchangeimfBankingimfFinanceimfProperty & real estateimfExchange ratesimfFood pricesimfBanks and bankingimfHousingimfWestern HemisphereEconomic conditions21st centuryUnited StatesimfEconomic forecastingBanks and BankingForeign ExchangeInflationMacroeconomicsReal EstatePrice LevelDeflationBanksDepository InstitutionsMicro Finance InstitutionsMortgagesAgriculture: Aggregate Supply and Demand AnalysisPricesCommodity MarketsCurrencyForeign exchangeBankingFinanceProperty & real estateExchange ratesFood pricesBanks and bankingHousingInternational Monetary Fund.DcWaIMFBOOK9910779292203321Regional Economic Outlook, April 2011, Western Hemisphere3782718UNINA