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Shock from Graying; Is the Demographic Shift Weakening Monetary Policy Effectiveness

Imam, Patrick A. - International Monetary Fund (IMF) - 2013

impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

Persistent link: https://www.econbiz.de/10011242214

Effect of IMF Structural Adjustment Programson Expectations; The Case of Transition Economies

Imam, Patrick A. - International Monetary Fund (IMF) - 2007

We analyze the effect of IMF programs on economic agents' expectations about the economy in transitional countries using survey data from the Central and Eastern Eurobarometer poll, an annual general public survey monitoring the evolution of public opinion from 1990 to 1997. Previous studies, in...

Persistent link: https://www.econbiz.de/10005768769

Exchange Rate Choices of Microstates

Imam, Patrick A. - International Monetary Fund (IMF) - 2010

In this paper we first explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks microstates face, their ability to better accommodate local preferences combined with a more integrated...

Persistent link: https://www.econbiz.de/10008561087

Rapid Current Account Adjustments; Are Microstates Different?

Imam, Patrick A. - International Monetary Fund (IMF) - 2008

We describe unique aspects of microstates-they are less diversified, suffer from lumpiness of investment, they are geographically at the periphery and prone to natural disasters, and have less access to capital markets-that may make the current account more vulnerable, penalizing exports and...

Persistent link: https://www.econbiz.de/10005826402

Introducing the Euro As Legal Tender; Benefits and Costs of Eurorization for Cape Verde

Imam, Patrick A. - International Monetary Fund (IMF) - 2009

increasingly integrated into the euro-zone area and that has a strong macroeconomic track record. We illustrate that neither the …

Persistent link: https://www.econbiz.de/10008528623

Terms of Trade Shocks and Economic Recovery

Imam, Patrick A.; Granziera, Eleonara; Funke, Norbert - International Monetary Fund (IMF) - 2008

This paper identifies factors that contribute to a fast recovery in growth after persistent negative terms of trade shocks, using a sample of 159 countries for 1970-2006. The results suggest that policies matter. Fast recoveries are fairly robustly related to real exchange rate depreciation and...

Persistent link: https://www.econbiz.de/10005605299

Explaining Episodes of Growth Accelerations, Decelerations, and Collapses in Western Africa

Salinas, Gonzalo; Imam, Patrick A. - International Monetary Fund (IMF) - 2008

The growth literature has had problems explaining the "sub-Saharan African growth dummy" in cross-country regressions. Instead of taking the usual approach of focusing on long-run growth and assuming that sub-Saharan countries have homogenous parameters in growth regressions, we concentrate our...

Persistent link: https://www.econbiz.de/10005605430