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International Crises and Policy Responses in the Southern Cone

Rasteletti, Alejandro; Borensztein, Eduardo; … - Inter-American Development Bank - 2012

Central Banks should meet their inflation targets to preserve fiscal space and anchor inflation expectations. …

Persistent link: https://www.econbiz.de/10010943890

Inflation Targeting in Colombia, 2002-2012

Urrutia, Miguel; Hofstetter, Marc; Hamann, Franz - Inter-American Development Bank - 2014

crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as …

Persistent link: https://www.econbiz.de/10010943921

Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru

Armas, Adrián; Castillo, Paul; Vega, Marco - Inter-American Development Bank - 2014

This paper provides an overview of the reserve requirement measures undertaken by the Central Bank of Peru. It provides a rationale for the use of these instruments as well as empirical evidence of their effectiveness. In general, the results show that tightening reserve requirements has the...

Persistent link: https://www.econbiz.de/10010943927

Monetary and Exchange Rate Policies for the Perfect Storm: The Case of the Bahamas, Barbados, Guyana, Haiti, Jamaica, Suriname, and Trinidad & Tobago

Rebucci, Alessandro; Powell, Andrew; Minella, André; … - Inter-American Development Bank - 2009

This study provides a set of tools to analyze the monetary and exchange rate policy issues in the seven countries of the Inter-American Development Banks Caribbean region (The Bahamas, Barbados, Jamaica, Haiti, Guyana, Suriname, and Trinidad and Tobago). It then applies some of them to the...

Persistent link: https://www.econbiz.de/10010943942

On the Determinants of International Currency Choice: Will the Euro Dominate the World?

Bobba, Matteo; Powell, Andrew; Corte, Giuseppe Della - Inter-American Development Bank - 2007

Money is used as a store of value, a medium of exchange and a unit of account. Most recent analyses of currency choice in an international setting have focused on the denomination of reservesthe store of value role. However, public data are only aggregate and exclude several countries. This...

Persistent link: https://www.econbiz.de/10010943953

Breaking Credibility in Monetary Policy: The Role of Politics in the Stability of the Central Banker

Miguel Ricardo Rueda R. - Inter-American Development Bank - 2008

variables. The measure of credibility is the expected probability of a disinflation beginning when inflation is rising. For a … previous cross country studies. Using the executives party ideology as a measure of aversion to inflation, there was no … disinflation beginning when inflation was rising was found. The results show that legal independence after controlling for the …

Persistent link: https://www.econbiz.de/10010944017

On the Credibility of Inflation Targeting Regimes in Latin America

Mariscal, Rodrigo; Powell, Andrew; Tavella, Pilar - Inter-American Development Bank - 2014

Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The … take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts … to measure whether, for a set of inflation targeters in Latin America, expectations are well anchored. A tighter …

Persistent link: https://www.econbiz.de/10010944050

Does Easing Monetary Policy Increase Financial Instability?

Rebucci, Alessandro; Cesa-Bianchi, Ambrogio - Inter-American Development Bank - 2013

This paper develops a model featuring both a macroeconomic and a financial stability objective that speaks to the interaction between monetary and macroprudential policies. First, we find that interest rate rigidities in a monopolistic banking system have an asymmetric impact on financial...

Persistent link: https://www.econbiz.de/10010944084

News Shocks and Asset Price Volatility in General Equilibrium

Rebucci, Alessandro; Matsumoto, Akito; Cova, Pietro; … - Inter-American Development Bank - 2011

This paper studies equity price volatility in general equilibrium with news shocks about future productivity and monetary policy. As West (1998) shows, in a partial equilibrium present discounted value model, news about the future cash flow reduces asset price volatility. This paper shows that...

Persistent link: https://www.econbiz.de/10010944151

International Initiatives to Bring Stability to Financial Integration

Fernández-Arias, Eduardo; Hausmann, Ricardo - Inter-American Development Bank - 1999

Financial liberalization and integration have generated disappointing results. They were supposed to set up a win-win situation: capital would flow from capital-abundant, low-return, aging industrial countries to capital-scarce, high-return, young emerging countries. Growth in receiving...

Persistent link: https://www.econbiz.de/10010944233