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Recent Inflationary Trends in World Commodities Markets
Krichene, Noureddine - International Monetary Fund (IMF) - 2008
inflation and posed a price puzzle insofar their evolution was not responsive to record low interest rates, double digit … commodities inflation, and sharp exchange rate depreciation. Commodities prices were shown to be driven by one common trend … accelerating commodities price inflation, subsequent world recession, and financial disorder; or tighten monetary policy with …
Persistent link: https://www.econbiz.de/10005263936
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Money Demand and Inflation in Madagascar
Nassar, Koffie Ben - International Monetary Fund (IMF) - 2005
inflation. The results also suggest that a disequilibrium in the money market has a lasting impact on inflation. The paper …
Persistent link: https://www.econbiz.de/10005825934
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Selected Issues Concerning Monetary Policy and Institutional Design for Central Banks; A Review of Theories
Beddies, Christian H. - International Monetary Fund (IMF) - 2000
In the past decades, much work has been geared toward solving the problem of time inconsistency in monetary policy and analyzing the coordination problem between fiscal and monetary policy. This paper provides a review of the theoretical background to these theories, while also focusing on their...
Persistent link: https://www.econbiz.de/10005826014
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Fiscal and Monetary Anchors for Price Stability; Evidence From Sub-Saharan Africa
International Monetary Fund (IMF); International … - 2008
sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the … dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries … of inflation variability, as predicted by the fiscal theory of the price level. …
Persistent link: https://www.econbiz.de/10005769262
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How to Fight Deflation in a Liquidity Trap; Committing to Being Irresponsible
Eggertsson, Gauti B. - International Monetary Fund (IMF) - 2003
these policy instruments. It commits to higher money supply in the future so that the private sector expects inflation …
Persistent link: https://www.econbiz.de/10005599394
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The ECB’s Monetary Analysis Revisited
Berger, Helge; Harjes, Thomas; Stavrev, Emil - International Monetary Fund (IMF) - 2008
Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non-monetary factors alone may leave the ECB with an incomplete...
Persistent link: https://www.econbiz.de/10005599686
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The Two Monetary Approaches to the Balance of Payments; Keynesian and Johnsonian
Polak, J. J. - International Monetary Fund (IMF) - 2001
This paper emphasizes the distinction between two ‘monetary approaches to the balance of payments’, one developed in the IMF, the other under the leadership of Harry Johnson in Chicago. The IMF approach is presented as an evolutionary development of the Kahn/Keynes multiplier model in an...
Persistent link: https://www.econbiz.de/10005605086
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Monetary Transaction Costs and the Term Premium
Espinoza, Raphael A.; Tsomocos, Dimitrios P. - International Monetary Fund (IMF) - 2013
We show that, in a monetary equilibrium, trade and asset prices depend on both the supply of the liquidity by the Central Bank and the liquidity of assets and commodities. As a result, monetary aggregates are informative for the conduct of monetary policy. We also show asset prices are higher in...
Persistent link: https://www.econbiz.de/10010790281
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Monetary Transmission Mechanism in the East African Community; An Empirical Investigation
Davoodi, Hamid Reza; Dixit, S. V. S.; Pinter, Gabor - International Monetary Fund (IMF) - 2013
Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i …
Persistent link: https://www.econbiz.de/10011242179
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Bayesian Vars; A Survey of the Recent Literature with An Application to the European Monetary System
Ciccarelli, Matteo; Rebucci, Alessandro - International Monetary Fund (IMF) - 2003
This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman (1986) and Doan et al. (1984) and review alternative...
Persistent link: https://www.econbiz.de/10005825693