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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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Simulating the Effects of Some Simple Coordinated versus Uncoordinated Policy Rules
International Monetary Fund - 1989
Effects of different policy rules are simulated: uncoordinated targeting of the money supply or nominal income, use of monetary policy to achieve coordinated targets for nominal or real exchange rates, and the use of monetary and fiscal policies to hit targets for internal and external balance....
Persistent link: https://www.econbiz.de/10014396458
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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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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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On Fixed and Variable Fiscal Surplus Rules
International Monetary Fund - 2004
Fiscal rules are being increasingly used by both emerging and developed economies. This paper analyzes two alternative fiscal policy rules in terms of their impact on debt sustainability: a rule that fixes the ratio of primary surplus to GDP (""fixed surplus rule"") and one that sets the primary...
Persistent link: https://www.econbiz.de/10014404172
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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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Advancing the frontiers of monetary policy
Adrian, Tobias (ed.); Laxton, Douglas (ed.);  … - 2018
Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including …Part I. The frontiers of monetary policymaking. 1. An overview of inflation-forecast targeting -- Part II. Principles … and practices of inflation-forecast targeting. 2. First principles -- 3. Managing expectations -- 4. Nuts and bolts of a …
Persistent link: https://www.econbiz.de/10011874333
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A Simple Dge Model for Inflation Targeting
International Monetary Fund - 2007
The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT …
Persistent link: https://www.econbiz.de/10014400322
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Market Information and Signaling in Central Bank Operations, Or, How often Should a Central Bank Intervene?
International Monetary Fund - 1997
A central bank must decide on the frequency with which it will conduct open market operations and the variability in short-term money market that it will allow. It is shown how the optimal operating procedure balances the value of attaining an immediate target and broadcasting the central...
Persistent link: https://www.econbiz.de/10014400555
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Coordinating Public Debt and Monetary Management
International Monetary Fund - 1997
Edited by V. Sundararajan, Peter Dattels, and Hans Blommestein, this volume outlines strategies for managing public debt, developing government securities markets, and coordinating those activities with monetary management through legal, administrative, and operational arrangements. Both...
Persistent link: https://www.econbiz.de/10014402318