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Inflation Differentials in the EU : A Common ( Factors ) Approach with Implications for EU8 Euro Adoption Prospects
International Monetary Fund - 2008
This paper explores inflation determinants within the EU and implications for new members'' euro adoption plans. Factor … analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components …. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level …
Persistent link: https://www.econbiz.de/10014401399
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Economic and Monetary Integration and the Aggregate Demand for Money in the EMS
International Monetary Fund - 1990
Mechanism (ERM) of the European Monetary System can be expressed as a stable function of ERM-wide income, inflation, interest …
Persistent link: https://www.econbiz.de/10014396161
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Staff Report on the Multilateral Consultation on Global Imbalances with China, the Euro Area, Japan, Saudi Arabia, and the United States
International Monetary Fund - 2007
Multilateral Consultations are a new tool of multilateral surveillance for the IMF, designed to foster action-oriented debate and policy actions on a problem of systemic or regional importance. The first multilateral consultation focused on facilitating the resolution of global imbalances while...
Persistent link: https://www.econbiz.de/10014409833
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Fund Surveillance Over Members of Currency Unions
International Monetary Fund - 2005
Effective Fund surveillance over the members of currency unions entails discussions at the regional level. This requirement derives from the fact that currency union members have devolved responsibility for policy areas that are central to Fund surveillance, notably monetary and exchange rate...
Persistent link: https://www.econbiz.de/10014409950
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The SDR Interest Rate Basket : Proposed Change of the Representative Interest Rate for the Euro and Amendment to Rule T-1(C)
International Monetary Fund - 2014
The three-month Eurepo interest rate, the euro component of the SDR interest rate basket, will be discontinued as of the end of 2014. The three-month Eurepo rate, administered by the European Money Market Institute (EMMI), has been the representative interest rate instrument of the euro area in...
Persistent link: https://www.econbiz.de/10014410559
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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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Economic and Monetary Union in Europe and Constraintson National Budgetary Policies
International Monetary Fund - 1990
This paper reviews the pros and cons of institutionalized constraints limiting the freedom of national budgetary policies within an Economic and Monetary Union (EMU) in Europe. The issue is approached from three angles: the influence of EMU on (i) budget discipline; (ii) intergenerational equity...
Persistent link: https://www.econbiz.de/10014396369
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Euro Area Policies : Spillover Report for the 2011 Article IV Consultation and Selected Issues
International Monetary Fund - 2011
The euro area (EA) plays a major role in the global economy. Market perceptions of events in the EA program countries illustrate the possibility of large spillovers from the area in times of stress. The prospect of large spillovers underscores the urgent need for actions to contain, and...
Persistent link: https://www.econbiz.de/10014398514
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Euro Area Policies : 2011 Article IV Consultation—Lessons from the European Financial Stability Framework Exercise; and Selected Issues Paper
International Monetary Fund - 2011
The European Union’s (EU) financial stability framework is being markedly strengthened. This is taking place on the heels of a severe financial crisis owing to weaknesses in the banking system interrelated with sovereign difficulties in the euro area periphery. Important progress has been made...
Persistent link: https://www.econbiz.de/10014398599
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Monetary and Exchange Rate Policies of the Euro Area
International Monetary Fund - 2000
The economic conditions in the euro area have brightened. Executive Directors commended the policy stance of the European Central Bank. They noted that the exchange rate developments of the euro failed to strengthen the euro area economy, and stressed the need for fiscal discipline, structural...
Persistent link: https://www.econbiz.de/10014401709