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Supporting Studies for the World Economic Outlook, prepared by IMF staff, provide a more detailed analysis of issues recently covered in the main pubication. The current edition includes studies of globalization and growth, the future of the international financial system, currency crises,...
Persistent link: https://www.econbiz.de/10014404467
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
It is shown how the frequency of central bank intervention in financial markets can affect the incentives for economic agents to acquire information, which will be reflected in market prices and thus become available to policy makers. The optimal frequency of intervention, and therefore the...
Persistent link: https://www.econbiz.de/10014403364
An empirical study that shows that countries’ reserve holdings are sensitive to the rates at which they can borrow on international financial markets, this analysis confirms the view that holding major currencies as reserve assets has costs that are frequently unrecognized. Between 1978-82 for...
Persistent link: https://www.econbiz.de/10014395904
backward-looking inflation expectations. However, it does not lead to instability in several large multicountry econometric …
Persistent link: https://www.econbiz.de/10014396137
Several years of high inflation rates have negatively affected economic conditions in Angola. Macroeconomic … stabilization in Angola entails strict control over central bank credit to the government, an ending of the quasi …
Persistent link: https://www.econbiz.de/10005824891
inflation. The authorities need to take steps to encourage foreign direct investment, to make good on their plans for …
Persistent link: https://www.econbiz.de/10005824909
This Selected Issues paper takes a close look at the proximate determinants and short-term dynamics of inflation in … Switzerland. It identifies salient features of the inflation experience in Switzerland. The paper uses a wage-price model to gauge … the sensitivity of inflation to the business cycle and the exchange rate. The findings suggest that underlying inflation …
Persistent link: https://www.econbiz.de/10005825084
This 2003 Article IV Consultation highlights that the macroeconomic developments in the Russian Federation remained generally strong, with a third consecutive year of considerable GDP growth, fiscal surplus, and large current account surplus. The economy continues to benefit from the earlier...
Persistent link: https://www.econbiz.de/10005825217
This 2004 Article IV Consultation highlights that Israel’s economic recovery is under way after a prolonged recession. Growth is being supported by more favorable global economic conditions, an improvement in the security situation, and appropriate policies, which have included tightening...
Persistent link: https://www.econbiz.de/10005825350