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Short (August 22, 1998), Segodnia Aug 1998

Short (August 22, 1998), Segodnia

Documents

No abstract provided.


Recapitalize Program For Financial Institutions, Bank Of Thailand Aug 1998

Recapitalize Program For Financial Institutions, Bank Of Thailand

Documents

No abstract provided.


Federal Reserve Board Approves The Merger Of Bank Holding Companie, Federal Reserve System: Board Of Governors Aug 1998

Federal Reserve Board Approves The Merger Of Bank Holding Companie, Federal Reserve System: Board Of Governors

Documents

No abstract provided.


Issue 81/2541: Financial Institutions System Rehabilitation Plan, Thai Ministry Of Finance Aug 1998

Issue 81/2541: Financial Institutions System Rehabilitation Plan, Thai Ministry Of Finance

Documents

No abstract provided.


Bank Indonesia To Lift Guarantee For Creditors, Dow Jones Newswires Aug 1998

Bank Indonesia To Lift Guarantee For Creditors, Dow Jones Newswires

Documents

No abstract provided.


Political Constitution Of The Republic Of Ecuador, National Congress Of Ecuador Aug 1998

Political Constitution Of The Republic Of Ecuador, National Congress Of Ecuador

Documents

No abstract provided.


Reduction Of The 3-Month Intervention Rate, Bank Negara Malaysia/Central Bank Of Malaysia Aug 1998

Reduction Of The 3-Month Intervention Rate, Bank Negara Malaysia/Central Bank Of Malaysia

Documents

No abstract provided.


Frb Memorandum To Board Of Governors From Division Of Consumer And Community Affairs, Helen M. Troy, Tracy K. Anderson Aug 1998

Frb Memorandum To Board Of Governors From Division Of Consumer And Community Affairs, Helen M. Troy, Tracy K. Anderson

Documents

No abstract provided.


Details On Establishment Of Danamodal Nasional Berhad, Danamodal Nasional Berhad Aug 1998

Details On Establishment Of Danamodal Nasional Berhad, Danamodal Nasional Berhad

Documents

No abstract provided.


How To Estimate Autoregressive Roots Near Units, Peter C.B. Phillips, Hyungsik Roger Moon, Zhijie Xiao Aug 1998

How To Estimate Autoregressive Roots Near Units, Peter C.B. Phillips, Hyungsik Roger Moon, Zhijie Xiao

Cowles Foundation Discussion Papers

A new model of near integration is formulated in which the local to unity parameter is identifiable and consistently estimable with time series data. The properties of the model are investigated, new functional laws for near integrated time series are obtained, and consistent estimators of the localizing parameter are constructed. The model provides a more complete interface between I(0) and I(1) models than the traditional local to unity model and leads to autoregressive coefficient estimates with rates of convergence that vary continuously between the O(/n) rate of stationary autoregression, the O(n) rate of unit root regression and the power rate …


Higher Order Approximations For Wald Statistics In Cointegrating Regressions, Zhijie Xiao, Peter C.B. Phillips Aug 1998

Higher Order Approximations For Wald Statistics In Cointegrating Regressions, Zhijie Xiao, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Asymptotic expansions are developed for Wald test statistics in cointegrating regression models. These expansions provide an opportunity to reduce size distortion in testing by suitable bandwidth selection, and automated rules for doing so are calculated. Band spectral regression methods and tests are also considered. In such cases, it is shown how the effects of nonstationarity that dominate low frequency limit behaviour also carry over to high frequency asymptotics, with consequential effects on bandwidth rules.


Would A Privatized Social Security System Really Pay A Higher Rate Of Return, John Geanakoplos, Olivia S. Mitchell, Stephen P. Zeldes Aug 1998

Would A Privatized Social Security System Really Pay A Higher Rate Of Return, John Geanakoplos, Olivia S. Mitchell, Stephen P. Zeldes

Cowles Foundation Discussion Papers

Many advocates of social security privatization argue that rates of return under a defined contribution individual account system would be much higher for all than they are under the current social security system. This claim is false. The mistake comes from ignoring accrued benefits already promised based on past payroll taxes, and from underestimating the riskiness of stock investments. Confusion arises because three distinct reforms are muddled. By privatization we mean creating individual accounts (which could, for example, be invested exclusively in bonds). By diversification we mean investing in stocks, and perhaps other assets, as well as bonds; diversification might …


A Primer On Unit Root Testing, Peter C.B. Phillips, Zhijie Xiao Aug 1998

A Primer On Unit Root Testing, Peter C.B. Phillips, Zhijie Xiao

Cowles Foundation Discussion Papers

The immense literature and diversity of unit root tests can at times be confusing even to the specialist and presents a truly daunting prospect to the uninitiated. In consequence, much empirical work still makes use of the simplest testing procedures because it is unclear from the literature and from recent reviews which tests if any are superior. This paper presents a survey of unit root theory with an emphasis on testing principles and recent developments. The general framework adopted makes it possible to consider tests of stochastic trends against trend stationarity and trend breaks of a general type. The main …


Nonlinear Regressions With Integrated Time Series, Joon Y. Park, Peter C.B. Phillips Aug 1998

Nonlinear Regressions With Integrated Time Series, Joon Y. Park, Peter C.B. Phillips

Cowles Foundation Discussion Papers

An asymptotic theory is developed for nonlinear regression with integrated processes. The models allow for nonlinear effects from unit root time series and therefore deal with the case of parametric nonlinear cointegration. The theory covers integrable, asymptotically homogeneous and explosive functions. Sufficient conditions for weak consistency are given and a limit distribution theory is provided. In general, the limit theory is mixed normal with mixing variates that depend on the sojourn time of the limiting Brownian motion of the integrated process. The rates of convergence depend on the properties of the nonlinear regression function, and are shown to be as …


Social Security Money's Worth, John Geanakoplos, Olivia S. Mitchell, Stephen P. Zeldes Aug 1998

Social Security Money's Worth, John Geanakoplos, Olivia S. Mitchell, Stephen P. Zeldes

Cowles Foundation Discussion Papers

This paper describes how three money’s worth measures — the benefit-to-tax ratio, the internal rate of return, and the net present value — are calculated and used in analyses of social security reforms, including systems with privately managed individual accounts invested in equities. Declining returns from the U.S. social security system prove to be the inevitable result of having instituted an unfunded (pay-as-you-go) retirement system that delivered $7.9 trillion of net transfers (in 1997 present value dollars) to people born before 1917, and will deliver another $1.8 trillion to people born between 1918 and 1937. But young and future workers …


The Financial Crisis In Thailand: Causes, Conduct And Consequences?, Laruids S. Lauridsen Aug 1998

The Financial Crisis In Thailand: Causes, Conduct And Consequences?, Laruids S. Lauridsen

Documents

early academic study recounting, among other things, the government's response to the financial crisis


Burkina Faso: Recent Economic Developments, International Monetary Fund (Imf) Aug 1998

Burkina Faso: Recent Economic Developments, International Monetary Fund (Imf)

Documents

No abstract provided.


Reduction Of The 3-Month Intervention Rate And The Introduction Of A New Liquidity Framework, Bank Negara Malaysia/Central Bank Of Malaysia Jul 1998

Reduction Of The 3-Month Intervention Rate And The Introduction Of A New Liquidity Framework, Bank Negara Malaysia/Central Bank Of Malaysia

Documents

No abstract provided.


The Korean Crisis - Causes And Resolution, Joonho Hahm, Inseok Shin Jul 1998

The Korean Crisis - Causes And Resolution, Joonho Hahm, Inseok Shin

Documents

No abstract provided.


Maintaining Liquid Assets Of Finance Companies, Bank Of Thailand Jul 1998

Maintaining Liquid Assets Of Finance Companies, Bank Of Thailand

Documents

No abstract provided.


Prescribing Commercial Banks To Maintain Liquid Assets, Bank Of Thailand Jul 1998

Prescribing Commercial Banks To Maintain Liquid Assets, Bank Of Thailand

Documents

No abstract provided.


Letter Of Intent Of The Government Of Korea, Chol-Hwan Chon, Kyu-Sung Lee Jul 1998

Letter Of Intent Of The Government Of Korea, Chol-Hwan Chon, Kyu-Sung Lee

Documents

https://www.imf.org/external/np/loi/072498.htm


Chairman Alan Greenspan Otc Derivavies (Housetestimony), Alan Greenspan Jul 1998

Chairman Alan Greenspan Otc Derivavies (Housetestimony), Alan Greenspan

Documents

No abstract provided.


Brooksley Born Testimony Regarding The Over-The-Counter Derivatives Market, Brooksley Born Jul 1998

Brooksley Born Testimony Regarding The Over-The-Counter Derivatives Market, Brooksley Born

Documents

No abstract provided.


Mexico's Bank Rescue: No End To The Burden?, The Economist Jul 1998

Mexico's Bank Rescue: No End To The Burden?, The Economist

Documents

No abstract provided.


The Current Status Of Risk Management Loans Held By Deposit-Taking Financial Institutions In Japan, Government Of Japan: Financial Services Authority Jul 1998

The Current Status Of Risk Management Loans Held By Deposit-Taking Financial Institutions In Japan, Government Of Japan: Financial Services Authority

Documents

No abstract provided.


Recapitalisation And Consolidation Of The Banking Sector, Bank Negara Malaysia/Central Bank Of Malaysia Jul 1998

Recapitalisation And Consolidation Of The Banking Sector, Bank Negara Malaysia/Central Bank Of Malaysia

Documents

No abstract provided.


Monetary Policy Measures (July 12, 1998), Russian Federation: Central Bank Of The Russian Federation Jul 1998

Monetary Policy Measures (July 12, 1998), Russian Federation: Central Bank Of The Russian Federation

Documents

No abstract provided.


The Tasks And Functions Of The Bank Of Russia (July 12, 1998), Russian Federation: Central Bank Of The Russian Federation Jul 1998

The Tasks And Functions Of The Bank Of Russia (July 12, 1998), Russian Federation: Central Bank Of The Russian Federation

Documents

No abstract provided.


Legal Status (July 12, 1998), Russian Federation: Central Bank Of The Russian Federation Jul 1998

Legal Status (July 12, 1998), Russian Federation: Central Bank Of The Russian Federation

Documents

No abstract provided.