Download or read book Portugal written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2018-09-12 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper describes financial conditions and growth at risk in Portugal. The macro-finance literature and recent experience provide compelling evidence that financial imbalances grow in good times, creating downside risks to economic growth. The analysis highlights the importance of the price of risk, leverage and credit growth as leading indicators of risks to gross domestic product growth. The price of risk appears to provide the most powerful signal in the short term, while credit aggregates are the most significant predictor in the medium term. This finding is consistent with the volatility paradox and is line with other empirical studies. The Growth-at-Risk (GaR) model suggests contained downside risks to Portugal’s growth projections at the current juncture based on financial conditions data, but credit growth should continue to be monitored given still high leverage. The moderate risk to growth identified by the GaR model reflects the impact of low credit spreads and volatility in the financial markets, in their turn reflecting the prevailing policy mix. Still, a repricing of risks and other shocks could be magnified by the still-high leverage, and lead to less favorable growth outcomes.
Download or read book Portugal written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-06-22 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Portugal: Selected Issues
Download or read book Portugal written by International Monetary Fund Staff and published by . This book was released on 1998-02-01 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2015-05-15 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper takes stock of structural reforms in Portugal from a firm-level perspective. Structural reforms were the main available policy tool to mend Portugal’s accumulated imbalances. Portugal’s macroeconomic toolbox was severely constrained by monetary union membership and spillover considerations. This paper discusses what structural reforms were supposed to achieve at the firm level. It documents a few stylized facts about Portuguese firms and describes the structural reform agenda. The paper also reports the results of a firm survey on the perceived effectiveness of the structural reforms.
Download or read book Portugal Selected Issues written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-01-15 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper on Portugal reviews a set of issues of relevance to the regime change implied by European Monetary Union participation. It presents an empirical investigation of the business cycle in Portugal. The paper attempts to obtain a quantitative sense of the impact of monetary policy on the Portuguese economy, utilizing an unrestricted vector autoregression methodology to characterize the monetary transmission mechanism. It also examines some key forces at work in Portugal’s external sector from different vantage points.
Download or read book Portugal written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2017-09-15 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses that the average investment growth needed for Portugal was to achieve the 2-percent and 2.5-percent real GDP growth in the medium term. It is likely that the growth rate of investment must significantly exceed the projected 4.9 percent in order to achieve the GDP growth path envisaged in the 2017 Stability Program. Specifically, per staff estimates, investment needs to grow at around 8.5 percent per year in case the TFP growth remains at -0.26 percent. The challenges confronting Portuguese banks were discussed in the 2016 Article IV staff report, which highlighted low profitability and weak asset quality as key concerns. The regulatory environment has exerted positive pressure insofar as the review of business models has now become an integral part of the supervisory agenda, especially for Single Supervisory Mechanism (SSM)-supervised banks. Pursuant to the Capital Requirements Directive IV (CRD-IV), banks’ business models are considered in the Supervisory Review and Evaluation Process (SREP) performed by the supervisory authorities not only to determine capital and liquidity requirements but also to assess banks’ recovery plans.
Download or read book Portugal written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal written by Paulo Drummond and published by . This book was released on 2006 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal Selected Issues written by Andrea Lemgruber and published by . This book was released on 2007 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal written by and published by . This book was released on 2007 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-12-16 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper and Statistical Appendix examines Portugal’s real convergence experience, and highlights the growth payoff of reform policies in determining the country’s rapid growth during most of the past decade. The paper identifies potential areas for reform by examining developments in the unemployment–vacancy relationship since the early 1980s. The paper highlights that an issue for Portugal as a prospective European Monetary Union member is that of the strength of its financial links with Spain. The paper also examines such linkages as derived from daily data on short-term interest rates.
Download or read book Portugal written by Paulo Flavio Nacif Drummond and published by . This book was released on 2006 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal written by Fonds monétaire international and published by . This book was released on 1997 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal written by Yasemin Bal-Gündüz and published by . This book was released on 2004 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal Selected Issues written by Benedict J. Clements and published by . This book was released on 1999 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal written by Jörg Decressin and published by . This book was released on 1998 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Portugal Selected Issues and Statistical Appendix written by María Vicenta Carković S. and published by . This book was released on 1996 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:
