Staff Discussion Notes

• Pages: 21-21

20

Staff Discussion Notes

Sta Disc ussion Notes showcase new pol icy-related

analysis and rese arch by IMF departments. ese

papers are generally brief a nd written in nontechnical

language, and a re aimed at a broad audience interested

in economic policy issues. For more informat ion on

this series and to down load the papers in this series,

please visit: ww w.imf.org/external/pubs/cat/createx/

Publication s.aspx?page=sdn

No. 16/0 1

Aer Paris: Fisca l, Macroeconomic, and Financial Implications of Climate Cha nge

Mai Farid, Michael Keen, Mich ael Papaioannou, Ian Parry, Catherine Patt illo,

Anna Ter-Martirosyan, and ot her IMF Sta

No. 16/0 2

e Refugee Surge in Europe: Economic Cha llenges

Shekhar Aiya r, Bergljot Barkbu, Nicoletta Batini, Helge Berger, Enrica Detrag iache,

Allan Diz ioli, Christian Ebeke, Huidan L in, Linda Kaltani, Sebas tian Sosa,

Antonio Spilimbergo, and Petia Topalova

No. 16/0 3

Virtual Currencie s and Beyond: Initial Considerations

Dong He, Karl Habermeier, Ross Leckow, Vikram Ha ksar, Yasmin Almeid a,

Mikari K ashima, Nadim Kyriakos-Saad , Hiroko Oura, Tahsin Saadi Sedi k,

Natalia Stetsenko, a nd Concepcion Verdugo-Yepes

InternatIonal Monetary Fund

IMF STAFF DISCUSSION NOTE

December 2012

SDN/12/12

Shadow Banking:

Economics and Policy

Stijn Claessens, Zoltan Pozsar, Lev Ratnovski,

and Manmohan Singh

IMF Research Bulletin

Rabah Arez ki

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