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Inflation Dynamics in Kazakstan
International Monetary Fund - 1995
variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and …
Persistent link: https://www.econbiz.de/10014398244
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Estimating Potential Output with a Multivariate Filter
International Monetary Fund - 2010
This paper develops a simple model for measuring potential output that uses data on inflation, unemployment, and …
Persistent link: https://www.econbiz.de/10014403161
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Following Germany'S Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policyon the Economy
International Monetary Fund - 2005
Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest rates on real output growth for several European...
Persistent link: https://www.econbiz.de/10014400699
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Anticipation and Surprises in Central Bank Interest Rate Policy : The Case of the Bundesbank
International Monetary Fund - 1998
Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes and is...
Persistent link: https://www.econbiz.de/10014400820
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Sterilizing Capital inflows
International Monetary Fund - 1997
Developing countries fortunate enough to experience capital inflows haveseen rising levels of investment and enhanced economic growth. Capitalinflows have a negative side, however, in that they tend to appreciatethe domestic currency, making exports less competitive, and to encourageinflation....
Persistent link: https://www.econbiz.de/10014402762
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The Transmission Mechanism in Armenia : New Evidence from a Regime Switching VAR Analysis
International Monetary Fund - 2010
The introduction of inflation targeting in 2006, together with important economic developments such as dedollarization … the time inflation targeting was introduced and reduced levels of dollarization were observed. Results from introducing a …
Persistent link: https://www.econbiz.de/10014403230
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Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy
International Monetary Fund - 2010
estimate a New Keynesian Phillips curve for Armenia, suggesting a significant role of the output gap and inflation expectations … in determining current inflation. Finally, the underlying fiscal stance over the period 2000-09 is assessed by estimating …
Persistent link: https://www.econbiz.de/10014398416
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Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note on Strengthening Monetary and Liquidity Management
International Monetary Fund (IMF); International … - 2013
This Technical Note focuses on strengthening of monetary and liquidity management in Nigeria. The Central Bank of … Nigeria (CBN) has robust institutional framework in place to design and implement monetary policy. The CBN has also sufficient …
Persistent link: https://www.econbiz.de/10011243706
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Philippines; Selected Issues
International Monetary Fund (IMF); International … - 2008
This study discusses the Philippine output gap from three perspectives and evaluates the utility of the approaches for policymaking. Incentives in the Philippines appear broadly comparable with those in neighboring countries. The reform would also improve short- and especially medium-term...
Persistent link: https://www.econbiz.de/10011243744
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Fiscal and Monetary Anchors for Price Stability : Evidence From Sub-Saharan Africa
International Monetary Fund - 2008
sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the … dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries … of inflation variability, as predicted by the fiscal theory of the price level …
Persistent link: https://www.econbiz.de/10014401393