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The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent developments in the principle of cointegrated variables. M2 but not M1 is cointegrated with relevant price, transactions, and rate of return variables. However, deviations of M2 from its...
Persistent link: https://www.econbiz.de/10014395786
This paper considers the demand for various monetary aggregates with a view to assessing their potential roles as intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are presented. For M1, the results support an “error...
Persistent link: https://www.econbiz.de/10014396094
The economic and financial crisis is affecting the fiscal accounts of virtually every country. Public sector support for the financial system, fiscal stimulus and the automatic stabilizers, as well as the revenue decline from the downturn in commodity and asset prices, are leading to sharp...
Persistent link: https://www.econbiz.de/10010790494
The German economy has made major strides, helped by wide-ranging reforms. Greater transparency and stronger incentives for prudent action will support crisis prevention and management. The immediate priorities are preserving the integrity of the financial system and maintaining economic...
Persistent link: https://www.econbiz.de/10011242796
This 2009 Article IV Consultation highlights that the global financial crisis and the contraction of world trade have pulled the French economy into a severe recession and put its financial sector under strain. Structural features combined with early policy action have helped soften the...
Persistent link: https://www.econbiz.de/10011245061
This 2005 Article IV Consultation highlights that Zimbabwe’s pace of economic deterioration slowed somewhat in 2004 …
Persistent link: https://www.econbiz.de/10014405313
Zimbabwe. It discusses land reform, agricultural policies, and the outcomes. The paper presents background information on the … evolution of inflation and money aggregates in Zimbabwe. It analyzes the demand of money since the late 1990s, and discusses … factors that can lead to diverging paths of inflation and money growth in the short term. The paper also analyzes Zimbabwe …
Persistent link: https://www.econbiz.de/10014405314
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country
Persistent link: https://www.econbiz.de/10014405630
This Selected Issues paper analyzes economic and agricultural developments, and the impact of land reforms of Zimbabwe …/AIDS on Zimbabwe. It reviews the debt restructuring, fiscal sustainability, and the vulnerabilities of Zimbabwe's banking … system. It analyzes the situation of major public enterprises and the foreign exchange system in Zimbabwe. It also provides a …
Persistent link: https://www.econbiz.de/10014406581
urged the Reserve Bank of Zimbabwe to ensure that banks meet all prudential regulations, and are adequately capitalized …. They welcomed Zimbabwe's participation in the General Data Dissemination Standards, and urged the authorities to strengthen …
Persistent link: https://www.econbiz.de/10014406582