This Selected Issues Paper on Iran reviews that monetary factors are the main determinants of inflation in the country. Government spending out of oil revenues leads to large liquidity injections that the central bank accommodates owing to its efforts to prevent a significant nominal...

The report gives details of the economic analysis for the implementation of Chile's inflation targeting framework. It reviews the current state of liquidity in the Chilean fixed-income markets and developments and impediments to the supply of corporate bonds to the market. The paper considers a...

Niger’s overall macroeconomic statistics is a picture of contrasts. Establishing the National Statistical Institute (INS) and giving it a clear and precise mandate is a step in the right direction. Accuracy and reliability suffer from the weakness of data sources, notably in national...

This Report on the Observance of Standards and Codes (ROSC)—data module—provides an assessment of Moldova’s macroeconomic statistics against the recommendations of the General Data Dissemination System (GDDS) complemented by an assessment of data quality based on the...

Economic outcomes in Jamaica have fallen short of the authorities’ objectives in recent years. As the government looks to reinvigorate its growth and debt reduction strategy, it is instructive to examine how exogenous shocks and other unanticipated developments can affect economic...

This Report on the Observance of Standards and Codes—Data Module provides an assessment of Israel’s macroeconomic statistics against the Special Data Dissemination Standard complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework,...

This paper discusses the estimation of models of the term structure of interest rates. After reviewing the term structure models, specifically the Nelson-Siegel Model and Affine Term- Structure Model, this paper estimates the terms structure of Treasury bond yields for the United States with...

This paper analyses the links between the investment strategies of a commodity-based SWF and the macroeconomic framework of the owner country. We examine some basic macrofinancial linkages of an SWF's strategic asset allocation (SAA) strategies with regard to the government budget, monetary...