Carlos De Resende - Latest

• Cross-Country Estimates of the Degree of Fiscal Dominance and Central Bank Independence

  Staff Working Paper 2007-36 Carlos De Resende

  This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Fiscal policy, Inflation: costs and benefits JEL Code(s): E, E3, E31, E4, E42, E5, E50, E6, E63

• IMF-Supported Adjustment Programs: Welfare Implications and the Catalytic Effect

  Staff Working Paper 2007-22 Carlos De Resende

  The author studies the welfare implications of adjustment programs supported by the International Monetary Fund (IMF). He uses a model where an endogenous borrowing constraint, set up by international lenders who will never lend more than a debt ceiling, forces the borrowing economy to always choose repayment over default.

  Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): F, F3, F32, F33, F34, F4, F41

• Endogenous Borrowing Constraints and Consumption Volatility in a Small Open Economy

  Staff Working Paper 2006-37 Carlos De Resende

  Consumption volatility relative to output volatility is consistently higher in emerging economies than in developed economies.

  Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): F, F3, F32, F34, F4, F41