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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 … 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
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Deciding to Enter a Monetary Union; TheRole of Trade and Financial Linkages
Lama, Ruy; Rabanal, Pau - International Monetary Fund (IMF) - 2012
This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from joining the euro. We evaluate two alternative scenarios....
Persistent link: https://www.econbiz.de/10011242323
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Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model
Anderson, Derek; Hunt, Ben; Kortelainen, Mika; Kumhof, … - International Monetary Fund (IMF) - 2013
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the GIMF, this paper illustrates the model’s...
Persistent link: https://www.econbiz.de/10011242434
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Guatemala; Selected Issues and Analytical Notes
International Monetary Fund (IMF); International … - 2013
This Selected Issues paper estimates both Guatemala’s potential output and output gap using a wide range of econometric techniques. The analysis suggests that Guatemala’s potential output growth is about 3.5 percent for the whole sample period and that the output gap is almost...
Persistent link: https://www.econbiz.de/10011243930
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The Case for a Long-Run Inflation Target of Four Percent
Ball, Laurence M. - International Monetary Fund (IMF) - 2014
Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to … target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero … cost, because four percent inflation does not harm an economy significantly. …
Persistent link: https://www.econbiz.de/10010790372
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Impact of Demographic Changes on Inflation and the Macroeconomy
Yoon, Jong-Won; Kim, Jinill; Lee, Jungjin - International Monetary Fund (IMF) - 2014
variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and …
Persistent link: https://www.econbiz.de/10011123847
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The Effects of Unconventional Monetary Policies on Bank Soundness
Lambert, Frederic; Ueda, Kenichi - International Monetary Fund (IMF) - 2014
Unconventional monetary policy is often assumed to benefit banks. However, we find little supporting evidence. Rather, we find some evidence for heightened medium-term risks. First, in an event study using a novel instrument for monetary policy surprises, we do not detect clear effects of...
Persistent link: https://www.econbiz.de/10011142163
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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U.S. Fiscal Policies and Priorities for Long-Run Sustainability
Mühleisen, Martin; Towe, Christopher M. - International Monetary Fund (IMF) - 2004
This paper presents an overview of recent U.S. fiscal developments and discusses possible implications of the sharp turn around in the government’s fiscal position. Against this back ground, it also reviews key policy challenges that will need to be addressed to cope with the mounting...
Persistent link: https://www.econbiz.de/10005824863
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Stabilization and Reforms in Latin America; A Macroeconomic Perspective of the Experience Since the 1990s
Belaisch, Agnes; Collyns, Charles; Masi, Paula De; … - International Monetary Fund (IMF) - 2005
This study examines external and domestic influences on Latin America’s economic performance over the past decade and a half. It notes that over the past few years, macroeconomic policies have strengthened and structural reforms have been implemented. Together with a favorable external...
Persistent link: https://www.econbiz.de/10005824870