Dominica: Selected Issues

July 20, 2016

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Format: Chicago

Dominica: Selected Issues, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This Selected Issues paper presents a proposal for the creation of savings funds (SF) for rehabilitation and reconstruction after natural disasters (ND) in Dominica. A Monte Carlo experiment is used to calibrate the size of the SF, based on the distribution of ND fiscal shocks estimated from an empirical fiscal model. ND shocks are identified by controlling for other major sources of shock affecting the cyclical fluctuations of output, and government revenue and expenditure, and by calibrating the probability of ND consistent with their historical frequency. It is concluded that under the parameter calibrations proposed, the SF would be financially sustainable with a low probability of depletion.

Subject: Commercial banks, Credit bureaus, Environment, Financial institutions, Financial markets, Monetary policy, Natural disasters, Public debt, Standing facilities

Keywords: Caribbean, Climate change cost, Commercial banks, CR, Credit bureaus, Credit union, Credit union sector, Deposit, Dominica, Estimating hurricane, ISCR, Natural disasters, Standing facilities, Tropical cyclone, Tropical cyclone damage, Tropical cyclone disaster

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/245
Stock No:

1DMAEA2016002
ISBN:

9781498377423
ISSN:

1934-7685

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