On June 15, 2007, the International Monetary Fund (IMF) adopted the "2007 Decision on Bilateral Surveillance over Members' Policies," a landmark reform that modernizes th[...]

The International Monetary Fund (IMF) recently adopted the "2007 Decision on Bilateral Surveillance Over Members' Policies," a landmark reform that modernizes the general[...]

This paper presents a model of an emerging market sovereign that can selectively default on its domestic or external creditors. The two classes of creditors have differen[...]

Domestic public debt issued by emerging markets has risen significantly relative to international debt in recent years. Some recent empirical evidence also suggests that [...]

Since 2002, spreads on emerging market sovereign debt have fallen to historical lows. Given the close links between sovereign spreads, capital flows to emerging markets, [...]

Demand for industrial raw materials from emerging economies, particularly emerging Asia, is widely believed to have fueled the surge in oil and industrial commodity price[...]

Building on the growing evidence on the importance of large data sets for empirical macroeconomic modeling, we use a large factor-augmented VAR (FAVAR) model to analyze h[...]

Building on the growing evidence on the importance of large data sets for empirical macroeconomic modeling, we use a factor-augmented VAR (FAVAR) model with more than 260[...]

The Federal Reserve’s path for withdrawal of monetary stimulus and eventually increasing interest rates could have substantial repercussions for capital flows to emerging[...]

We examine the impact of US monetary policy news on portfolio flows to emerging markets using a Bayesian Vectorautoregression that accounts for expectations of future mon[...]