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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
This paper reviews the long-term growth performance of the major industrial countries and discusses some of the many factors that have been identified as possible sources of the marked slowdown in growth since the early 1970s. According to the view of different demographic developments across...
Persistent link: https://www.econbiz.de/10014400806
This paper reviews the financial implications of aging for the pension system in Belgium during 1995-2050. Our simulations indicate a strong rise in pension expenditure over the next half century, as is the case in other industrialized countries. In Belgium, the problem is particularly acute in...
Persistent link: https://www.econbiz.de/10014396528
The last comprehensive discussion of reform of the international monetary system (IMS)-the set of official arrangements that regulate key dimensions of balance of payments-international reserves, exchange rates, current payments, and capital flows-was held nearly four decades ago. In light of...
Persistent link: https://www.econbiz.de/10014410347
This 2005 Article IV Consultation highlights that recent accession to the European Union and gains in growth performance reinforced the Czech Republic’s position as one of the most open and developed economies among the new member states. Thanks to substantial foreign direct investment, its...
Persistent link: https://www.econbiz.de/10014405841
The Czech government has made impressive progress in bringing the antimoney laundering (AML) regime of the Czech Republic into compliance with both European and international standards. The Czech government has undertaken important steps toward completing the legal and institutional framework to...
Persistent link: https://www.econbiz.de/10014406110
The Czech government has made further progress in improving fiscal transparency that was already high by international standards. The measures implemented to broaden the coverage of general government data have been commended. Improved reporting on fiscal risks, including those arising from...
Persistent link: https://www.econbiz.de/10014407746
This paper presents an update to the Czech Republic’s Report on the Observance of Standards and Codes (ROSC) on Fiscal Transparency, Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency. The Czech Republic continues...
Persistent link: https://www.econbiz.de/10014410937
Economic activity in the Czech Republic is expected to remain flat in 2012 and gradually gain momentum as external conditions improve. The 2012 Article IV Consultation discusses that monetary conditions have been appropriately supportive of economic activity. The Czech financial system has...
Persistent link: https://www.econbiz.de/10014396558
The paper developes a VAR macrofinance model of the Czech economy. It shows that yield misalignments from the yields implied by the macrofinance model partially determine subsequent yield changes over three to nine months. These yield misalignments tend to persist for a number of months. This...
Persistent link: https://www.econbiz.de/10014396906