This paper gauges if, and how, institutional arrangements are correlated with the use of
macroprudential policy instruments. Using data from 39 countries, the paper evaluates policy …

Stock markets play a key role in corporate financing in Asia. However, despite their increasing
importance in terms of size and cross-border investment activity, the region’s markets are …

Bank stress tests of climate change risks are relatively new, but are rapidly proliferating. The
IMF and World Bank staff collaborated to develop an experimental macro scenario stress …

Climate change presents risks and opportunities for the real economies and financial sectors
of the IMF’s global membership. Understanding the risks is key to prepare for a successful …

Understanding the interplay between firms’ balance sheets and the macro-economic
environment is important for understanding of the Brazilian economy. A close examination of …

Motivated by the increasing interest in analyzing the links between the financial sector and
the real economy, we develop a macro-financial structural model with two novel features. First…

This paper presents the framework underlying the Global Bank Stress Test (GST) and
applies it to recent data and global scenarios to illustrate the usefulness of the framework in …

This paper develops comparable financial conditions indices (FCIs) for the six large and most
financially-integrated Latin American economies (LA6) by following Korobilis (2013) and …

… Mr. Sumi has also held key positions in the Japanese government, including Deputy Vice
Minister of … Fabian Lipinsky is an Economist in the Western Hemisphere Department at the IMF. …

Anti-nuclear antibodies (ANA) are fundamental for the diagnosis of autoimmune diseases,
and have been determined by indirect immunofluorescence assay (IIFA) for decades. As the …