IMF Working paper-Exchange-Rate Dark Matter -continued

March 2, 2012--Summary: Dark matter accounts for 83 percent of the matter in the universe and plays a central role in cosmology modeling. This paper argues that an analogous form of dark matter plays a similarly important role in international macroeconomics.
Exchange-rate dark matter is invisible, but its existence can be inferred from observations on real exchange rates and interest rates. I first show that dark matter is the dominant driver of short- and medium-term changes in real exchange rates for the G-7 countries; accounting for more than 90 percent of the variance at the five-year horizon. I then develop a model in which risk shocks account for dark matter's role as a driver of exchange-rate dynamics and other macro variables.

view IMF working paper-Exchange-Rate Dark Matter

Source: IMF

Global ETP News
What Does Carbon Pricing Success Look Like? Ask These Leaders
September 18, 2014--STORY HIGHLIGHTS
British Columbia, Sweden, California and China have been pioneering carbon pricing systems to lower emissions and help shift their economies onto cleaner, greener trajectories.
Currently, nearly 40 countries and more than 20 cities, states, and provinces use a form of carbon pricing or are planning to implement it. That number is growing as more governments explore the benefits of carbon pricing for climate and economy.
read more
IMF Working paper-A Quality of Growth Index for Developing Countries: A Proposal
September 17, 2014--Summary: This paper proposes a new quality of growth index (QGI) for developing countries. The index encompasses both the intrinsic nature and social dimensions of growth, and is computed for over 90 countries for the period 1990-2011. The approach is premised on the fact that not all growth is created equal in terms of social outcomes, and that it does matter how one reaches from one level of income to another for various theoretical and empirical reasons.
read more
IFC Becomes Largest Issuer of London-Listed Renminbi Bonds, Supporting Internationalization of Chinese Currency
September 17, 2014--IFC, a member of the World Bank Group, today became the largest issuer of renminbi-denominated bonds on the London Stock Exchange, issuing bonds totaling 1 billion yuan (equivalent to about $163 million) to increase foreign investment in China and support the internationalization of the Chinese currency.
read more
How much does pollution cost?
September 17, 2014--How much do the emissions coming from your car's exhaust pipe cost in terms of damage to the environment? What about the gases that factories emit? Smog can be seen-and felt-in places like Beijing and Mexico City, in other words, it is tangible. But it is difficult to measure and calculate in monetary terms the damage done to the planet, nature and people by greenhouse gases.
read more
IMF's 2014 Financial Access Survey Helps to Map Global Financial Inclusion
September 16, 2014--The International Monetary Fund (IMF) released today the results of the fifth annual Financial Access Survey (FAS),the most comprehensive global source of data on access to,and use of,basic consumer financial services by households and nonfinancial corporations. For the first time,the survey includes data on mobile money indicators. The 2014 FAS round was again conducted with financial support from the Ministry of Foreign Affairs of The Netherlands,while the Bill & Melinda Gates Foundation provided funding to capture data on the use of mobile money services.
read more
UK government to issue the world's first non-Chinese sovereign offshore renminbi bond.
September 12, 2014--The government announced today (12 September), as part of the conclusion of the Economic and Financial Dialogue (EFD) with China, that it intends to issue the world's first non-Chinese sovereign offshore renminbi bond and the proceeds will be used to finance the UK government's reserves of foreign currency.
read more
Basel III monitoring results published by the Basel Committee
September 11, 2014--The Basel Committee today published the results of its latest Basel III monitoring exercise. The study is based on the rigorous reporting process set up by the Committee to periodically review the implications of the Basel III standards for banks.
read more
OTC Derivatives Regulators Issue Report to the G20
September 10, 2014--The Over-the-Counter (OTC) Derivatives Regulators Group (ODRG),which is made up of authorities with responsibility for the regulation of OTC derivatives markets in Australia,Brazil,the European Union,Hong Kong,Japan,Ontario,Quebec,Singapore,Switzerland,and the United States,issued a report today that provides an update to the G20 on further progress in resolving OTC derivatives cross-border implementation issues and identifies a cross-border issue that may call for legislative change.
read more
IMF Working paper-Sovereign Debt Composition in Advanced Economies: A Historical Perspective
September 9, 2014--Summary: We examine how the composition of public debt, broken down by currency, maturity, holder profile and marketability, has responded to major debt accumulation and consolidation episodes during 1900-2011. Covering thirteen advanced economies, we focus on debt structure shifts that occurred around the two World Wars and global economic downturns, and the subsequent debt consolidations.
read more
IOSCO updates survey on commodity derivatives markets supervisory principles
September 9, 2014--The International Organization of Securities Commissions today issued the Update to Survey on the Principles for the Regulation and Supervision of Commodity Derivatives Markets, which updates its 2012 review of the implementation of IOSCO's principles for commodity derivatives markets.
read more
Climate Finance Is Flowing, but It Isn't Enough-Yet
September 5, 2014--STORY HIGHLIGHTS
About US$359 billion a year has been flowing to and within countries to support low-carbon development and clean energy projects that can lower greenhouse gas emissions and increase resilience to the effects of climate change.
read more
WEF-Global Growth at Risk from Slow Reform Progress
The Global Competitiveness Report 2014-2015 finds insufficient progress in adopting and implementing structural reforms necessary for long-term economic growth
Switzerland remains on top of the reportís Global Competitiveness Index rankings; the US and Japan move up in the rankings for a second year in a row
Innovation, talent development and institutional strength continue to play a defining role in determining world's most competitive economies
September 3, 2014--The health of the global economy is at risk, despite years of bold monetary policy,
read more
Average daily volume of 7.0 million contracts at Eurex Group in August
August 1, 2014--In August 2014, the international derivatives markets of Eurex Group recorded an average daily volume of 7.0 million contracts (August 2013: 6.6 million). Of those, 4.8 million were Eurex Exchange contracts (August 2013: 4.5 million), and 2.2 million contracts (August 2013: 2.1 million) were traded at the U.S.-based International Securities Exchange (ISE).
read more
World Water Week Seeks Solutions to Water and Energy Challenges
August 29, 2014--Story Highlights
Water is needed in almost all energy generation processes. At the same time, the water sector needs energy to extract, treat and transport water.
These inextricable connections between water and energy-and how best to manage them for the benefit of the poor-will be the focus of this yearís World Water Week.
read more