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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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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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On the Estimation of Term Structure Models and An Application to the United States
International Monetary Fund - 2010
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...
Persistent link: https://www.econbiz.de/10014402641
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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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Euro Area Policies : Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director on Euro Area Policies
International Monetary Fund - 2005
This paper focuses on euro area policies. The monetary policy stance remains appropriate for now. Fiscal policies are falling well short of consolidation requirements, and the area remains insufficiently prepared for the looming demographic shock. Past fiscal policy failures, notably...
Persistent link: https://www.econbiz.de/10014405842
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Inflation Targeting and Output Growth : Empirical Evidence for the European Union
International Monetary Fund - 2005
adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union … credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These … countries supports country-specific flexible inflation targeting …
Persistent link: https://www.econbiz.de/10014400852
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Staff Report on the Monetary and Exchange Rate Policies of the Euro Area and the Trade Policies of the European Union : Staff Supplement; Public Information Notice on the Executive...
International Monetary Fund - 2002
weaker and inflation higher than generally expected. To a large extent, this is the result of a series of unanticipated …
Persistent link: https://www.econbiz.de/10014406355
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Euro Area Policies : Selected Issues
International Monetary Fund - 2010
To reduce the negative effects of a bank-lending crunch on economic activity, adequate credit provision should be ensured. Further bank recapitalization, restructuring and consolidation of the banking sector, and regulatory reform decisions will reduce uncertainty. A long-lasting configuration...
Persistent link: https://www.econbiz.de/10014403552
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Government Debt Issuance in the Euro Area : The Impact of the Financial Crisis
International Monetary Fund - 2011
This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone countries and Denmark. Using a newly constructed database on primary market debt issuance during 2007-09, we find evidence of a shift away from pre-crisis standards of best funding...
Persistent link: https://www.econbiz.de/10014403688