IMF Working Paper-The Modern Hyperinflation Cycle: Some New Empirical Regularities-continued

December 7, 2018--Using a database of up to 62 variables for 196 countries over 57 years, a hyperinflation cycle has been characterized to propose a broader setting of stylized facts. Beyond the usual facts, the findings in this paper contribute to the literature of modern hyperinflations in that these cycles occur in contexts where there are (i) depressed economic freedoms, (ii) deteriorated socioeconomic conditions and rule of law, as well as (iii) high levels of domestic conflictivity and government instability.
Despite social infraestructure factors improve during stabilization, they keep being substantially lower than the respresentative non-hyperinflation country, suggesting an important role for them in the occurrence of modern hypeinflations. Finally, the role of international financial assistance in stabilization was studied, noting that (i) a clear majority of hyperinflation countries used it, further improving their (ii) economic freedoms, and allowing themselves (iii) greater fiscal flexibility and (iv) more exchange rate stability.

view the IMF Working Paper-The Modern Hyperinflation Cycle: Some New Empirical Regularities

Source: IMF

Global ETP News
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ETFGI reports assets invested in the Global ETF and ETP industry decreased to 5.32 trillion US dollars at the end of May 2019
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Santorum-Backed Catholic Blockchain Looks To Entice Younger Users To Crypt. Wait. Crypto.
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ECB Working Paper-Competition among high-frequency traders, and market quality
June 10, 2019--1 Introduction
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Global Growth to Weaken to 2.6% in 2019, Substantial Risks Seen
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Global Economic Prospects: Europe and Central Asia
April 4, 2019--Recent Developments
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FSB Report on Market Fragmentation
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This post is also available in: Italian German
Over a series of articles, we have been trying to resolve the misconceptions some investors have about ETFs.
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Global Trade Watch 2018: Trade Amid Tensions
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Dark pool and OTC crypto trading growing as market begins to resemble traditional asset classes
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Global Trade Watch 201: Trade Amid Tensions
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Stability in the Financial System (2019:1)
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Bitcoin climbs to highest in a year amid cryptocurrency comeback
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Solactive makes strategic investment in European governance, sustainability, and proxy voting firm Minerva Analytics
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GDP Growth-First quarter of 2019, OECD-OECD GDP growth jumps to 0.6% in first quarter of 2019
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Among the Major Seven economies, GDP growth accelerated markedly in Germany (to 0.4% after 0.0% in the previous quarter), Italy (0.2%, from minus 0.1%), the United Kingdom (0.5%, from 0.2%) and the United States (0.8%, from 0.5%).
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ETF Worldwide Snapshot-May 2019
May 22, 2019--In our latest monthly report:
On May 20, 2019 the US SEC formally approved the application from Precidian to launch non-transparent active ETFs in the US. The SEC had earlier issued a notice that it intended to approve it.
The Japan Exchange Group (JPX) and Shanghai Stock Exchange (SSE) agreed to establish Japan-China ETF connectivity, with a goal of increasing cross-border investments.
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Shadow Banking Is a New Culprit in Systemic Risk: Fitch
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Specifically, Fitch pointed to the continued rise of shadow banking as a potential culprit in new systemic risk.
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Investec closes robo-advice
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Citing low appetite for the service, Investec said "the market itself is growing at a much slower rate than expected."
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Aberdeen Standard Investments Precious Metals Outlook: May 2019 Investors Shy Away From Precious Metals Despite Growing Market Risks
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Given that the investor complacency appears to be settling in again and that global growth continues to slow, the upside risks to both gold and silver currently appear larger than the downside risks.
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IMF Working Paper-Pledged Collateral Market's Role in Transmission to Short-Term Market Rates
May 17, 2019--Summary:
In global financial centers, short-term market rates are effectively determined in the pledged collateral market, where banks and other financial institutions exchange collateral (such as bonds and equities) for money.
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IMF Working Paper-FinTech in Financial Inclusion: Machine Learning Applications in Assessing Credit Risk
May 17, 2019--May 17, 2019--Summary:
Recent advances in digital technology and big data have allowed FinTech (financial technology) lending to emerge as a potentially promising solution to reduce the cost of credit and increase financial inclusion. However, machine learning (ML) methods that lie at the heart of FinTech credit have remained largely a black box for the nontechnical audience.
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IMF Working Paper-Rethinking Fiscal Policy in Oil-Exporting Countries
May 17, 2019--Summary:
We examine the existing fiscal policy paradigm in commodity-exporting countries. First, we argue that its centerpiece—the permanent income hypothesis (PIH)-is not consistent with either intergenerational equity or long-term sustainability in the presence of uncertainty. Policies to achieve these goals need to be more prudent and better anchored than the PIH.
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ETFGI reports assets invested in the Global ETF and ETP industry reached a record $5.57 trillion at the end of April 2019
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Firms see risks on the horizon as LIBOR disappears
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Banks and other financial firms are bracing for a host of risks that may accompany the move away from interbank offered rates (IBORs), such as the London IBOR, to alternative financial benchmarks, Moody’s Investors Service reports.
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