Autore	Iossifov Plamen
Pubbl/distr/stampa	Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica	57 p. : ill
Altri autori (Persone)	TakebeMisa ZhanZaijin KinoshitaNoriaki YorkRobert
Collana	IMF Working Papers
Soggetto topico	Monetary policy - Africa, Central Monetary unions - Africa, Central Banks and banking - Africa, Central Investments: Energy Macroeconomics Public Finance Taxation Fiscal Policy Business Taxes and Subsidies Energy: General National Government Expenditures and Related Policies: General Public finance & taxation Investment & securities Fiscal stance Fiscal policy Oil, gas and mining taxes Oil Expenditure Petroleum industry and trade Expenditures, Public
ISBN	1-4623-9309-8 1-282-84492-X 9786612844928 1-4519-4202-8 1-4527-5611-2
Formato	Materiale a stampa
Livello bibliografico	Monografia
Lingua di pubblicazione	eng
Record Nr.	UNINA-9910788222703321

Autore	Iossifov Plamen
Edizione	[1st ed.]
Pubbl/distr/stampa	Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica	57 p. : ill
Disciplina	332.4;332.496751
Altri autori (Persone)	KinoshitaNoriaki TakebeMisa YorkRobert ZhanZaijin
Collana	IMF Working Papers
Soggetto topico	Monetary policy - Africa, Central Monetary unions - Africa, Central Banks and banking - Africa, Central Business Taxes and Subsidies Energy: General Expenditure Expenditures, Public Fiscal Policy Fiscal policy Fiscal stance Investment & securities Investments: Energy Macroeconomics National Government Expenditures and Related Policies: General Oil Oil, gas and mining taxes Petroleum industry and trade Public finance & taxation Public Finance Taxation
ISBN	9786612844928 9781462393091 1462393098 9781282844926 128284492X 9781451942026 1451942028 9781452756110 1452756112
Formato	Materiale a stampa
Livello bibliografico	Monografia
Lingua di pubblicazione	eng
Nota di contenuto	Intro -- Contents -- Executive Summary -- I. Introduction -- II. Institutional Background and Features -- A. Macroeconomic Policies in the CEMAC Region -- B. Policy Coordination and Surveillance -- III. Improving the Measures of Fiscal Surveillance -- A. Fiscal Policy Objectives and Indicators -- B. Indicators of Policy Stance and Policy Change -- C. Indicators of Sustainability -- D. Implications for Fiscal Surveillance -- IV. External Shocks and the Convergence Criteria -- A. External Shocks and Growth -- B. The Efficacy of Fiscal Policies in Mitigating Shocks -- C. Implications for Regional Surveillance -- V. External Stability Considerations and Regional Surveillance -- A. Consistency of the CEMAC Fiscal Convergence Criteria with External Stability -- B. The Desirability of a Foreign Reserves Target -- C. Long-run Considerations in Regional Surveillance -- VI. Summary and Policy Implications -- Boxes -- 1. Brief Economic History of the Central African CFA Zone -- 2. Overview of the Optimum Currency Area Literature -- 3. BEAC Monetary Programming -- 4. Characteristics of Oil Revenue in the CEMAC -- 5. CEMAC Convergence Criteria -- 6. Fiscal Stance and Fiscal Impulse -- 7. The Primary Gap Measure -- 8. Constant Fiscal Expenditure Rule for Oil Producing Countries -- 9. Measuring the Impact of Exogenous Shocks on the Non-oil Economy -- 10. Measuring the Impact of Counter-Cyclical Fiscal Policies on the Non-oil Economy -- Tables -- 1. CEMAC Fiscal Developments and the Fiscal Convergence Criteria, 1998-2008 -- 2. A Comparison of CEMAC Fiscal Indicators, 2000-08 (in percent of GDP) -- 3. A Comparison of CEMAC Fiscal Indicators, 2000- -- 4. Primary Gap Measures Across the CEMAC, 1998-2008 -- 5. CEMAC Long-term Macroeconomic Assumptions -- 6. CEMAC Average Sustainable Non-oil Primary Deficit Under Different Fiscal Rules, 2009-48. 7. Real Non-oil GDP Growth in CEMAC Countries, 1980-2008 -- 8. Correlation of Real GDP Growth Among CEMAC Countries, 1980-2008 -- 9. Triggers of Recessions in CEMAC Countries, selected periods -- 10. Correlation Between Non-oil Real GDP and External Factors, 1980-2008 -- 11. Correlation Between GDP, Public Expenditure, and Non-oil Revenue -- 12. Average Share of Non-oil Revenue and Expenditure in Non-oil GDP, 1980-2008 -- 13. Variance Decomposition of Real GDP by Types of Shocks -- 14. CEMAC Share of Oil Revenue in Total Revenue and Correlation Between Fiscal and External Balances -- 15. CEMAC Currency Coverage Ratio, 2000-08 -- 16. CEMAC Gross Official Reserves, 2000-08 -- Figures -- 1. CEMAC Real and Fiscal Developments, 1969-2008 -- 2. CEMAC Terms of Trade and Balance of Payments Developments, 1969-2008 -- 3. CEMAC Net International Reserve Coverage of Imports, 1995-2008 -- 4. CEMAC Fiscal Policy and Procyclicality vis-à-vis Oil Revenue, 1980-2008 -- 5. Nominal and Real Crude Oil (Spot) Prices, 1970-2014 -- 6. CEMAC Non-oil Real GDP Growth and the Fiscal Impulse, 1995-2008 -- 7. CEMAC External Debt and the Primary Gap, 1998-2008 -- 8. CEMAC Sustainable Non-oil Primary Deficit Under Different Fiscal Rules, 2009-13 -- 9. CEMAC Sensitivity of the Sustainable Non-oil Primary Deficit to Oil Prices Under a Permanent Income Hypothesis, 2009-13 -- 10. Terms of Trade and Real Effective Exchange Rates, 1980-2008 -- 11. Impulse Response of Output to a One Standard Deviation Change in Terms of Trade and Real Effective Exchange Rate Shocks -- 12. Impulse Response of Output to a One Standard Deviation Change in Revenue and Spending Shocks -- 13. CEMAC Overall Fiscal Balance and External Current Account Balance, 1996-2008 -- 14. CEMAC Countries Overall Fiscal Balance and External Current Account Balance, 1996-2008. 15. CEMAC Foreign Assets of BEAC and Government Deposits at BEAC, 1995-2008 -- Appendix -- Linkages Between Fiscal and Monetary Policies in a Non-Renewable Resource Producer under a Fixed Exchange Rate -- References.
Record Nr.	UNINA-9910971216303321

Autore	Iossifov Plamen
Pubbl/distr/stampa	[Washington, District of Columbia] : , : International Monetary Fund, , 2008
Descrizione fisica	1 online resource (34 p.)
Disciplina	332.82
Altri autori (Persone)	ČihákMartin ShanghaviAmar BriançonCyrille
Collana	IMF Working Papers IMF working paper
Soggetto topico	Interest rates - Econometric models Elasticity (Economics) - Econometric models Housing - Prices - Econometric models
Soggetto genere / forma	Electronic books.
ISBN	1-4623-0735-3 1-4527-6118-3 9786612841989 1-4518-7105-8 1-282-84198-X
Formato	Materiale a stampa
Livello bibliografico	Monografia
Lingua di pubblicazione	eng
Nota di contenuto	Contents; I. Introduction; II. Literature Overview; III. Regression Analysis; A. Choice of Explanatory Variables; B. Panel Data Regression Analysis; Tables; 1. 3SLS Estimates of the Residential Housing Price Equation in First-Differences; C. Cross-Section Regression Analysis; 2. OLS Estimates of the Housing Price Equation Using Cross-Country Data; D. Preferred Estimate of the Interest Rate Elasticity of Housing Prices; IV. Conclusion; References; Appendices; I. Survey of Studies of Determinants of Housing Prices; II. Variables Definitions and Data Sources; Appendix Tables 1. Variables Definitions and Data SourcesAppendix Figures; 1. Real Residential Housing Price Indices, 1980-2007; 2. Scatter Plots of Residential Housing Prices on Fundamental Determinants; III. Additional Regression Output; 2. Within (Fixed Effects) Estimates of the Residential Housing Price Equation; 3. OLS and Within Estimates of Unrestricted Residential Housing Price Equation; 4. IV and GMM Panel Data Estimates of the Residential Housing Price Equation in First- Differences; 5. OLS Estimates of the Effect of Fundamentals on Residential Housing Prices in Cross- Country Data
Record Nr.	UNINA-9910463613403321

Autore	Iossifov Plamen
Pubbl/distr/stampa	Washington, D.C. : , : International Monetary Fund, , 2008
Descrizione fisica	1 online resource (34 p.)
Disciplina	332.82
Altri autori (Persone)	CihakMartin ShanghaviAmar
Collana	IMF Working Papers IMF working paper
Soggetto topico	Interest rates - Econometric models Elasticity (Economics) - Econometric models Housing - Prices - Econometric models Banks and Banking Infrastructure Real Estate Industries: Financial Services Housing Supply and Markets Economic Development: Urban, Rural, Regional, and Transportation Analysis Housing Interest Rates: Determination, Term Structure, and Effects Real Estate Markets, Spatial Production Analysis, and Firm Location: General Banks Depository Institutions Micro Finance Institutions Mortgages Property & real estate Macroeconomics Finance Housing prices Short term interest rates Real estate prices Prices Saving and investment Interest rates
ISBN	1-4623-0735-3 1-4527-6118-3 9786612841989 1-4518-7105-8 1-282-84198-X
Formato	Materiale a stampa
Livello bibliografico	Monografia
Lingua di pubblicazione	eng
Nota di contenuto	Contents; I. Introduction; II. Literature Overview; III. Regression Analysis; A. Choice of Explanatory Variables; B. Panel Data Regression Analysis; Tables; 1. 3SLS Estimates of the Residential Housing Price Equation in First-Differences; C. Cross-Section Regression Analysis; 2. OLS Estimates of the Housing Price Equation Using Cross-Country Data; D. Preferred Estimate of the Interest Rate Elasticity of Housing Prices; IV. Conclusion; References; Appendices; I. Survey of Studies of Determinants of Housing Prices; II. Variables Definitions and Data Sources; Appendix Tables 1. Variables Definitions and Data SourcesAppendix Figures; 1. Real Residential Housing Price Indices, 1980-2007; 2. Scatter Plots of Residential Housing Prices on Fundamental Determinants; III. Additional Regression Output; 2. Within (Fixed Effects) Estimates of the Residential Housing Price Equation; 3. OLS and Within Estimates of Unrestricted Residential Housing Price Equation; 4. IV and GMM Panel Data Estimates of the Residential Housing Price Equation in First- Differences; 5. OLS Estimates of the Effect of Fundamentals on Residential Housing Prices in Cross- Country Data
Record Nr.	UNINA-9910788343903321

Autore	Iossifov Plamen
Edizione	[1st ed.]
Pubbl/distr/stampa	Washington, D.C. : , : International Monetary Fund, , 2008
Descrizione fisica	1 online resource (34 p.)
Disciplina	332.82
Altri autori (Persone)	CihakMartin ShanghaviAmar
Collana	IMF Working Papers IMF working paper
Soggetto topico	Interest rates - Econometric models Elasticity (Economics) - Econometric models Housing - Prices - Econometric models Banks and Banking Banks Depository Institutions Economic Development: Urban, Rural, Regional, and Transportation Analysis Finance Housing prices Housing Supply and Markets Housing Industries: Financial Services Infrastructure Interest rates Interest Rates: Determination, Term Structure, and Effects Macroeconomics Micro Finance Institutions Mortgages Prices Property & real estate Real Estate Markets, Spatial Production Analysis, and Firm Location: General Real estate prices Real Estate Saving and investment Short term interest rates
ISBN	9786612841989 9781462307357 1462307353 9781452761183 1452761183 9781451871050 1451871058 9781282841987 128284198X
Formato	Materiale a stampa
Livello bibliografico	Monografia
Lingua di pubblicazione	eng
Nota di contenuto	Contents; I. Introduction; II. Literature Overview; III. Regression Analysis; A. Choice of Explanatory Variables; B. Panel Data Regression Analysis; Tables; 1. 3SLS Estimates of the Residential Housing Price Equation in First-Differences; C. Cross-Section Regression Analysis; 2. OLS Estimates of the Housing Price Equation Using Cross-Country Data; D. Preferred Estimate of the Interest Rate Elasticity of Housing Prices; IV. Conclusion; References; Appendices; I. Survey of Studies of Determinants of Housing Prices; II. Variables Definitions and Data Sources; Appendix Tables 1. Variables Definitions and Data SourcesAppendix Figures; 1. Real Residential Housing Price Indices, 1980-2007; 2. Scatter Plots of Residential Housing Prices on Fundamental Determinants; III. Additional Regression Output; 2. Within (Fixed Effects) Estimates of the Residential Housing Price Equation; 3. OLS and Within Estimates of Unrestricted Residential Housing Price Equation; 4. IV and GMM Panel Data Estimates of the Residential Housing Price Equation in First- Differences; 5. OLS Estimates of the Effect of Fundamentals on Residential Housing Prices in Cross- Country Data
Record Nr.	UNINA-9910957403803321