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Nigeria : Strengthening Monetary and Liquidity Management
World Bank - 2013
liquidity in the financial system, partly caused by spending of oil receipts. In the face of persistent excess liquidity in the …; however, these had a limited impact on monetary aggregates. A structural excess liquidity is a common feature in oil exporting … monetary policy and liquidity management and discusses role of selective financial markets in improving liquidity management in …
Persistent link: https://www.econbiz.de/10012560066
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Russia Economic Report, No. 46, December 2021 : Amidst Strong Economic Recovery, Risks Stemming from COVID-19 and Inflation Build
World Bank - 2021
Russia saw strong growth in 2021, with momentum weakening late in the year. Growth will slow as Russia battles COVID-19 and elevated inflation. Globally, environmental sustainability is becoming central to the economic agenda. The challenge for Russia is to fundamentally transform its economic...
Persistent link: https://www.econbiz.de/10013255376
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Policy mix, public debt management, and fiscal rules : lessons from the 2002 Brazilian crisis
Herrera, Santiago - 2005
"Despite significant progress in economic reform throughout the 1990s and an exemplary development of the policymaking framework in the second part of the decade, Brazil suffered a major public debt and currency crisis in 2002. Though the political origin of the uncertainty cannot be ignored,...
Persistent link: https://www.econbiz.de/10010522687
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Bulgaria : Country Needs and STI Policy Mix Assessment
World Bank - 2020
Bulgaria has achieved impressive economic performance over the last two decades. Nevertheless, recent growth of gross domestic product (GDP) and productivity has slowed since the global financial crisis, and the country faces medium- to long-term labor shortages and skills mismatches driven by...
Persistent link: https://www.econbiz.de/10012647640
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Does inflation targeting matter for output growth? : evidence from industrial and emerging economies
Varella Mollick, Andre - 2008
"This paper examines the effects of inflation targeting on industrial and emerging economies' output growth over the "globalization years" of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the authors find systematic positive and significant effects of...
Persistent link: https://www.econbiz.de/10010520968
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Is there room for foreign exchange interventions under an inflation targeting framework? : Evidence from Mexico and Turkey
Domaç, Ilker - 2004
Persistent link: https://www.econbiz.de/10010523046
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What measure of inflation should a central bank target?
Mankiw, N. Gregory; Reis, Ricardo - European Central Bank - 2002
This paper assumes that a central bank commits itself to maintaining an inflation target and then asks what measure of the inflation rate the central bank should use if it wants to maximize economic stability. The paper first formalizes this problem and examines its microeconomic foundations. It...
Persistent link: https://www.econbiz.de/10005344841
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The role of central bank transparency for guiding private sector forecasts
Ehrmann, Michael; Eijffinger, Sylvester; Fratzscher, Marcel - European Central Bank - 2010
There is a broad consensus in the literature that costs of information processing and acquisition may generate costly disagreements in expectations among economic agents, and that central banks may play a central role in reducing such dispersion in expectations. This paper analyses empirically...
Persistent link: https://www.econbiz.de/10008545908
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Forecasting the central bank’s inflation objective is a good rule of thumb
Diron, Marie; Mojon, Benoît - European Central Bank - 2005
This paper first shows that the forecast error incurred when assuming that future inflation will be equal to the inflation target announced by the central bank is typically at least as small and often smaller than forecast errors of model-based and published inflation forecasts. It then shows...
Persistent link: https://www.econbiz.de/10005222363
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The European Monetary Union as a commitment device for new EU member states
Ravenna, Federico - European Central Bank - 2005
This paper shows that the credibility gain from permanently committing to a fixed exchange rate by joining the European Monetary Union can outweigh the loss from giving up independent monetary policy. When the central bank enjoys only limited credibility a pegged exchange rate regime yields a...
Persistent link: https://www.econbiz.de/10005222375