Raphael A. Espinoza

International Monetary Fund (IMF)

Economist

700 19th Street, N.W.

Washington, DC 20431

United States

http://oxford.academia.edu/RaphaelEspinoza

  • International Monetary Fund (IMF)

SCHOLARLY PAPERS

27

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21

CROSSREF CITATIONS

12

Scholarly Papers (27)

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1.

Nonperforming Loans in the GCC Banking System and Their Macroeconomic Effects

IMF Working Paper No. 10/224
Number of pages: 25 Posted: 01 Feb 2011
Raphael A. Espinoza and A. Prasad
International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 1,597 (20,094)
Citation 3

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Bank accounting, Banking systems, Banks, Cooperation Council for the Arab States of the Gulf, Credit risk, Economic models, Loans

2.

How Strong are Fiscal Multipliers in the GCC? An Empirical Investigation

IMF Working Paper No. 11/61
Number of pages: 21 Posted: 28 Mar 2011
Raphael A. Espinoza and Abdelhak S. Senhadji
International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 259 (203,810)

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Cooperation Council for the Arab States of the Gulf, External shocks, Fiscal policy, Government expenditures, Nonoil sector, Saudi Arabia

3.

Asset Prices in an Exchange Economy with Money and Trade

Number of pages: 28 Posted: 03 Mar 2007
Raphael A. Espinoza and Dimitrios P. Tsomocos
International Monetary Fund (IMF) and University of Oxford - Said Business School and St. Edmund Hall
Downloads 190 (272,914)

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cash-in-advance , risk-neutral probabilities , state price , term structure

4.

Delays in Public Investment Projects

Number of pages: 27 Posted: 18 Feb 2021
Raphael A. Espinoza and Andrea Presbitero
International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 160 (316,714)

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Public investment, Time delays, Investment projects, World Bank, Investment scaling up

5.

Monetary Policy Transmission in the GCC Countries

IMF Working Paper No. 12/132
Number of pages: 31 Posted: 09 Aug 2012
Raphael A. Espinoza and A. Prasad
International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 153 (328,817)

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Transmission Mechanism, Fixed Exchange Rate Regime, Interest Rate Pass-through, Panel Var, Economic Models, Interest Rates, Monetary Transmission Mechanism

6.

Probabilities of Default and the Market Price of Risk in a Distressed Economy

IMF Working Paper No. 11/75
Number of pages: 15 Posted: 13 Apr 2011
Miguel A. Segoviano Basurto and Raphael A. Espinoza
affiliation not provided to SSRN and International Monetary Fund (IMF)
Downloads 140 (353,134)

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Asset prices, Bankruptcy, Banks, Credit risk, Financial crisis, Risk premium

7.

Estimating the Inflation-Growth Nexus: A Smooth Transition Model

IMF Working Paper No. 10/76
Number of pages: 23 Posted: 29 Mar 2010
Raphael A. Espinoza, Hyginus Leon and A. Prasad
International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 129 (376,005)
Citation 1

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Cross country analysis, Developed countries, Economic growth, Economic models, Emerging markets, Inflation, Monetary policy, Oil exporting countries, Production growth

8.

Regional Financial Integration in the Caribbean: Evidence from Financial and Macroeconomic Data

IMF Working Paper No. 09/139
Number of pages: 36 Posted: 28 Jul 2009
Raphael A. Espinoza and Goohoon Kwon
International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 124 (387,499)

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Bond markets, Capital flows, Caribbean, Cross country analysis, Economic integration, Economic models, Stock markets, Trade integration

9.

Recent Credit Stagnation in the MENA Region: What to Expect? What Can Be Done?

IMF Working Paper No. 10/219
Number of pages: 20 Posted: 01 Feb 2011
Adolfo Barajas, Ralph Chami, Raphael A. Espinoza and Heiko Hesse
International Monetary Fund (IMF) - Western Hemisphere Department, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 119 (399,375)
Citation 1

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Bank credit, Banking sector, Credit expansion, Cross country analysis, Economic growth, Middle East, Monetary policy, North Africa

10.

Regional Financial Integration in the GCC

IMF Working Paper No. 10/90
Number of pages: 34 Posted: 12 Apr 2010
Raphael A. Espinoza, A. Prasad and Oral H. Williams
International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 115 (409,542)
Citation 2

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Asset prices, Banking sector, Capital flows, Cooperation Council for the Arab States of the Gulf, Cross country analysis, Currency pegs, Economic integration, Interest rates, Monetary policy, Monetary unions, Regional shocks, Stock markets

11.

The Role of Financial Variables in Predicting Economic Activity

ECB Working Paper No. 1108
Number of pages: 50 Posted: 25 Nov 2009
Raphael A. Espinoza, Fabio Fornari and Marco J. Lombardi
International Monetary Fund (IMF), European Central Bank (ECB) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 112 (417,454)
Citation 6

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VAR, Financial Variables, International Linkages, Conditional Forecast

12.

The Role of Financial Variables in Predicting Economic Activity in the Euro Area

IMF Working Paper No. 09/241
Number of pages: 36 Posted: 10 Nov 2009
Raphael A. Espinoza, Fabio Fornari and Marco J. Lombardi
International Monetary Fund (IMF), European Central Bank (ECB) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 110 (422,970)
Citation 3

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Asset prices, Business cycles, Cross country analysis, Economic forecasting, Economic growth, Economic models, Euro Area, Financial crisis, Financial sector, Global Financial Crisis 2008-2009, Stock markets

13.

The Fiscal Multiplier of Public Investment: The Role of Corporate Balance Sheet

IMF Working Paper No. 20/199
Number of pages: 32 Posted: 30 Oct 2020
Raphael A. Espinoza, Juliana Gamboa-Arbelaez and Mouhamadou Sy
International Monetary Fund (IMF), Central Bank of Columbia and International Monetary Fund (IMF)
Downloads 103 (443,356)

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Public investment and public-private partnerships (PPP), Public investment spending, Private investment, Financial statements, Corporate investment, WP, net investment rate, balance sheet condition, constraint firm, graphic tag0, firm level

14.

Systemic Risk Modeling: How Theory Can Meet Statistics

IMF Working Paper No. 20/54
Number of pages: 40 Posted: 20 Apr 2020
Raphael A. Espinoza, Miguel Segoviano and Ji Yan
International Monetary Fund (IMF), London School of Economics & Political Science (LSE) - Financial Markets Group and City University of Hong Kong (CityUHK) - Department of Economics & Finance
Downloads 75 (540,340)

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Financial crises, Bank credit, Financial markets, Financial institutions, Macroprudential policies and financial stability, Systemic risk, Minsky effect, CIMDO, Default, WP, interbank, repayment rate, expected shortfall, time t, Minsky

15.

Spillovers to Low-Income Countries: Importance of Systemic Emerging Markets

IMF Working Paper No. NO.12/49
Number of pages: 27 Posted: 28 Feb 2012
Raphael A. Espinoza, Sarwat Jahan and Era Dabla-Norris
International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 70 (561,321)
Citation 1

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Growth Spillovers, Low-income Countries, Economic Integration, Decoupling, Vector Autoregression, Panel Estimate, Economic Growth, Emerging Markets, Low-income Developing Countries

16.

FX Intervention in the New Keynesian Model

IMF Working Paper No. 17/207
Number of pages: 40 Posted: 25 Oct 2017
Zineddine Alla, Raphael A. Espinoza and Atish R. Ghosh
Institut d'Etudes Politiques de Paris (Sciences Po), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Policy Development and Review Department
Downloads 69 (565,582)
Citation 2

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Foreign exchange, Central banks and their policies, Central bank reserves; Speculative attack; Portfolio balance model; Equilibrium determinacy; Capital flows; Capital controls; Open Economy New Keynesian Model, Central bank reserves, Speculative attack, Portfolio balance model, Equilibrium determinacy, Capital flows, Capital controls, Open Economy New Keynesian Model, Monetary Policy (Targets, Instruments, and Effects)

17.

How Do Fiscal and Labor Policies in France Affect Inequality?

IMF Working Paper No. 16/41
Number of pages: 45 Posted: 28 Mar 2016
Raphael A. Espinoza and Esther Pérez Ruiz
International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 67 (574,548)

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redistribution, market income inequality, labor market policies, fiscal policies, labor, unemployment, minimum wage, workers, income distribution, Personal Income and Wealth Distribution, Factor Income Distribution, Equity, Justice, Inequality, and Other Normative Criteria and Measurement

18.

Optimal Oil Production and the World Supply of Oil

IMF Working Paper No. 12/294
Number of pages: 32 Posted: 28 Feb 2013
Nikolay A. Aleksandrov, lajos Gyurko and Raphael A. Espinoza
affiliation not provided to SSRN, affiliation not provided to SSRN and International Monetary Fund (IMF)
Downloads 66 (579,150)

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Capacity Expansion, Equilibrium Price of Oil, OPEC, Oil production, Real Options

19.

Unconventional Policy Instruments in the New Keynesian Model

IMF Working Paper No. 16/58
Number of pages: 35 Posted: 26 Apr 2016
Zineddine Alla, Raphael A. Espinoza and Atish R. Ghosh
Institut d'Etudes Politiques de Paris (Sciences Po), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Policy Development and Review Department
Downloads 58 (617,796)

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Unconventional monetary policy, equilibrium indeterminacy, stabilization bias, inflationary bias, instrument, instruments, inflation, monetary policy, interest, Monetary Policy (Targets, and Effects), All Countries,

20.

As You Sow so Shall You Reap: Public Investment Surges, Growth, and Debt Sustainability in Togo

IMF Working Paper No. 12/127
Number of pages: 41 Posted: 09 Aug 2012
Michal Andrle, Antonio C. David, Raphael A. Espinoza, Marshall Mills and Luis-Felipe Zanna
International Monetary Fund (IMF), World Bank - Policy Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 57 (622,904)

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Public Investment, Debt Sustainability, Developing Countries, Economic Growth, Economic Models, Infrastructure, Tax Burdens

21.

The Fiscal Multiplier of European Structural Investment Funds: Aggregate and Sectoral Effects with an Application to Slovenia

IMF Working Paper No. 2021/118
Number of pages: 53 Posted: 04 Feb 2022
Luigi Durand and Raphael A. Espinoza
International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 50 (661,103)

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aggregate multiplier, sectoral multiplier, aggregate analysis, public investment, impact multiplier, Public investment spending, Private investment, Public employment, Manufacturing, Employment, Eastern Europe

22.

Macroprudential Stress Tests: A Reduced-Form Approach to Quantifying Systemic Risk Losses

IMF Working Paper No. 18/49
Number of pages: 46 Posted: 15 Nov 2018
Zineddine Alla, Raphael A. Espinoza, Qiaoluan Li and Miguel Segoviano Basurto
Institut d'Etudes Politiques de Paris (Sciences Po), International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Monetary and Financial Systems Department
Downloads 46 (684,893)

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Systemic risk, Macroprudential policies and financial stability, Financial crises, Stress testing, Stress testing; systemic risk; financial stability, financial stability, Government Policy and Regulation, Financial Markets and the Macroeconomy

23.

Effective Fiscal-Monetary Interactions in Severe Recessions

IMF Working Paper No. 2022/170
Number of pages: 47 Posted: 13 Sep 2022
Jiaqian Chen, Raphael A. Espinoza, Carlos Goncalves, Tryggvi Gudmundsson, Martina Hengge, Zoltan Jakab and Jesper Lindé
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund and International Monetary Fund (IMF)
Downloads 39 (730,825)

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24.

Financial Conditions in Europe: Dynamics, Drivers, and Macroeconomic Implications

IMF Working Paper No. 2023/209
Number of pages: 58 Posted: 05 Oct 2023
Giovanni Borraccia, Raphael A. Espinoza, Vincenzo Guzzo, Fuda Jiang, Romain Lafarguette, Huong (Vina) Nguyen, Miguel Segoviano Basurto and Philippe Wingender
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund, International Monetary Fund, International Monetary Fund (IMF) - Monetary and Financial Systems Department and International Monetary Fund (IMF) - Fiscal Affairs Department
Downloads 36 (751,994)

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Financial condition index, partial least square, funding constraints, credit availability and costs, price of risk, policy stance, inverse probability weighting

25.

Monetary Transaction Costs and the Term Premium

IMF Working Paper No. 13/85
Number of pages: 39 Posted: 25 Apr 2013
Raphael A. Espinoza and Dimitrios P. Tsomocos
International Monetary Fund (IMF) and University of Oxford - Said Business School and St. Edmund Hall
Downloads 28 (814,085)

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Liquidity, Cash-in-advance constraints, Term structure of interest rates

26.

The Armistice of the Sexes: Gender Complementarities in the Production Function

CEPR Discussion Paper No. DP13792
Number of pages: 40 Posted: 29 Jul 2019
Raphael A. Espinoza, Jonathan D. Ostry and Chris Papageorgiou
International Monetary Fund (IMF), Georgetown University and International Monetary Fund (IMF) - Research Department
Downloads 2 (1,044,534)
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aggregate production function, elasticity of substitution, Female Labor Force Participation, growth

27.

Globalization, Redistribution, and the Size of Government

CEPR Discussion Paper No. DP14137
Number of pages: 46 Posted: 04 Dec 2019
Raphael A. Espinoza, Jonathan D. Ostry and Xiaoxiao Zhang
International Monetary Fund (IMF), Georgetown University and University of Cambridge
Downloads 1 (1,052,290)
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Financial Liberalization, Government size, redistribution, Trade openness