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Money-Based Versus Exchange-Rate-Based Stabilization; Is there Space for Political Opportunism?
Aisen, Ari - International Monetary Fund (IMF) - 2004
In response to high and chronic inflation, countries have adopted different stabilization policies. However, the extent to which these stabilization programs were designed for political motives is not clear. Since exchange-rate-based stabilizations (ERBS) create an initial consumption boom...
Persistent link: https://www.econbiz.de/10005263919
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Republic of Uzbekistan; 2006 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Rep...
International Monetary Fund (IMF); International … - 2007
The 2006 Article IV Consultation on the Republic of Uzbekistan highlights the economic outlook and policy challenges. The banking system’s ability to fulfill its intermediary role has been constrained by limited credit expansion, given the strong growth in net foreign assets and the need...
Persistent link: https://www.econbiz.de/10011243358
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Peru: Selected Issues Paper
International Monetary Fund (IMF); International … - 2014
This Selected Issues paper examines application of fiscal framework alternatives to the case of Peru. Although growth … has been at historical highs over the last decade, Peru still has an important infrastructure gap and a quarter of its … case of Peru. It takes stock of analytical considerations to resource management, and analyzes Peru’s natural resource …
Persistent link: https://www.econbiz.de/10011244249
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Peru: Staff Report for the 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2014
This 2013 Article IV Consultation highlights that Peru’s economy continues to be a leader in high growth and low inflation in the region, which has been achieved through a prudent macroeconomic policy implementation, a far-reaching structural reform agenda and taking advantage of the...
Persistent link: https://www.econbiz.de/10011245344
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Output Gap Uncertainty and Real-Time Monetary Policy
Grigoli, Francesco; Herman, Alexander; Swiston, Andrew; … - International Monetary Fund (IMF) - 2015
Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in distinguishing between cycle and trend in real time. This is important given the central role in monetary policy of assessments of economic activity relative to capacity. We show that...
Persistent link: https://www.econbiz.de/10011163120
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Drivers of Peru's Equilibrium Real Exchange Rate: Is the Nuevo Sol a Commodity Currency?
Tashu, Melesse - International Monetary Fund (IMF) - 2015
This paper tests the hypothesis of ‘commodity currency’ on the nuevo sol and, more generally, identifies the drivers of Peru’s equilibrium real exchange rate using a cointegration analysis. The results show that export commodity prices do not have a statistically significant...
Persistent link: https://www.econbiz.de/10011242227
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Nonfinancial Firms in Latin America; A Source of Vulnerability?
Gonzalez, Maria - International Monetary Fund (IMF) - 2012
We examine corporate sector vulnerabilities in Brazil, Chile, Colombia, Mexico and Peru. First, we identify stylized …
Persistent link: https://www.econbiz.de/10011242251
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Peru; 2012 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This paper discusses Peru’s economic performance in 2012. The impressive growth is owed to its strong fundamentals and sound policy management. However, the economy is vulnerable to short-term shocks. A low growth in China or in the United States could hamper Peru’s macroeconomic...
Persistent link: https://www.econbiz.de/10011242761
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Peru; Selected Issues Paper
International Monetary Fund (IMF); International … - 2013
The purpose of the study is to examine Peru’s effective interest spread through accounting decompositions, financial ratio analysis, and spread regressions. The government’s financial restructuring programs accelerated the banking sector consolidation process. Robustness of...
Persistent link: https://www.econbiz.de/10011243387
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Motives and Effectiveness of Forex Interventions: Evidence from Peru
Tashu, Melesse - International Monetary Fund (IMF) - 2014
This paper assesses empirically the motives and effectiveness of forex interventions in Peru. While the central bank of … Peru states that its forex interventions aim only at containing excessive exchange rate volatility, the results of this …
Persistent link: https://www.econbiz.de/10011142096