Narrow search
Showing 1 - 10 of 2,734
Cover Image
Dynamics of Devaluation and ""Equivalent"" Fiscal Policies for a Small Open Economy
International Monetary Fund - 1989
In pursuing a steady-state reserve target, policymakers in small open economies can resort to devaluation or to temporary increases in public saving. This paper contrasts the dynamic implications of these alternative policies in a model with optimizing agents who possess perfect foresight. In...
Persistent link: https://www.econbiz.de/10014395937
Cover Image
Corruption and the Rate of Temptation : Do Low Wages in the Civil Service Cause Corruption?
International Monetary Fund - 1997
This paper develops and tests two efficiency wage models of corruption in the civil service. Under fair wage models, civil service wages are an important determinant of corruption. Under shirking models, the level of wages is of secondary importance, as potential bribes dwarf wage income. The...
Persistent link: https://www.econbiz.de/10014400303
Cover Image
West African Economic and Monetary Union (WAEMU) : Staff Report on Common Policies for Member Countries
International Monetary Fund - 2012
The staff report on discussions with regional institutions of the West African Economic and Monetary Union is presented. The region faced a number of challenges in 2011, with the intensification of the political crisis in Côte d’Ivoire and a large increase in global food and fuel prices. A...
Persistent link: https://www.econbiz.de/10014396911
Cover Image
Optimal Tax/Expenditure Competition Strategy of Governments in the Presence of Time Inconsistency : The Case for Investment Tax Abacemencs
International Monetary Fund - 1990
Businesses which seek the location that offers the highest profitability are likely to consider tax incentives and the level of government services available. However, once a business commits itself to a locality, high moving costs render it vulnerable to future tax increases or denial of...
Persistent link: https://www.econbiz.de/10014396504
Cover Image
Money Versus Credit in the Determination of Output for Small Open Economies
International Monetary Fund - 1989
It is well known that in a small open economy where there is perfect substitutability between domestic and foreign assets and costless portfolio adjustment, the monetary authorities cannot control the money supply, but can influence the balance of payments through the use of domestic credit. It...
Persistent link: https://www.econbiz.de/10014395792
Cover Image
From Autarky to Integration : Imitation, Foreign Borrowing, and Growth
International Monetary Fund - 1998
The effects on growth of the integration of an autarkic country into the world economy are analyzed, focusing on the differing roles of imitation and innovation in human capital accumulation. The country initially concentrates on imitation of foreign knowledge; subsequently, as it approaches the...
Persistent link: https://www.econbiz.de/10014403371
Cover Image
Inflation Targeting Lite' in Small Open Economies : The Case of Mauritius
International Monetary Fund - 2005
This paper develops a new macrofinance model for small open economies, allowing the investigation of Mauritius''s experience with ''inflation targeting lite'' as described in Stone (2003). It finds that this monetary policy regime has been associated with a general reduction in inflation,...
Persistent link: https://www.econbiz.de/10014404183
Cover Image
Growth, External Debt and Sovereign Risk in a Small Open Economy
International Monetary Fund - 1989
This paper constructs and analyzes an optimizing model of a highly-indebted small open economy. An important innovation in the model is the incorporation of sovereign risk through the specification of an upward-sloping foreign debt supply function. The model is used to examine the interaction...
Persistent link: https://www.econbiz.de/10014396362
Cover Image
Botswana : Selected Issues
International Monetary Fund - 2008
This paper suggests that it is essential to save a substantial portion of mineral revenues now to ensure fiscal sustainability for a post-diamond period. Taking the non-mineral primary balance into account can help clarify desirable fiscal policies. Botswana’s real effective exchange rate is...
Persistent link: https://www.econbiz.de/10014405503
Cover Image
Botswana : Selected Issues
International Monetary Fund - 2012
Poverty and unemployment remained high in Botswana. The shortcomings of the labor market policies are responsible for a … high unemployment rate. This selected issues paper sheds considerable light on ways that Botswana can enhance inclusive … growth and reduce the high level of structural unemployment. Botswana was identified as having been able to sustain the …
Persistent link: https://www.econbiz.de/10014395662