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The Great Recession and the Inflation Puzzle

Matheson, Troy; Stavrev, Emil - International Monetary Fund (IMF) - 2013

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

Persistent link: https://www.econbiz.de/10010790401

Monetary Policy and Balance Sheets

Igan, Deniz; Kabundi, Alain N.; Simone, Francisco Nadal-De - International Monetary Fund (IMF) - 2013

This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Augmented Vector Autoregression model on an expanded data set, including sectoral balance sheet variables, we show that the balance sheets...

Persistent link: https://www.econbiz.de/10010790431

Slovak Republic; 2005 Article IV Consultation-Staff Report; and Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2006

The Slovak Republicâ€™s 2005 Article IV Consultation reports that sound macroeconomic management and a wide range of fundamental structural reforms are supporting nominal convergence with European Union norms. Real GDP growth accelerated to 6 percent in 2005, driven by an improvement in the...

Persistent link: https://www.econbiz.de/10011244180

Mongolia; Fifth and Sixth Reviews under the Stand-By Arrangement and Rephasing of Purchases

International Monetary Fund (IMF); International … - 2010

Despite the negative impact of the severe winter on agriculture, other indicators are pointing to a strong recovery. Exports are growing rapidly, fueled by the rebound in copper prices and a rapid growth in coal exports. Rephasing of purchases by combining the fifth and sixth reviews is...

Persistent link: https://www.econbiz.de/10011244274

South Africa; 2010 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for...

International Monetary Fund (IMF); International … - 2010

The global financial crisis had a much more pronounced impact on South Africa relative to some other large emerging markets. The overriding economic policy challenge is to reduce unemployment and inequality through higher economic growth. Unemployment is a key policy focus; and a wage subsidy...

Persistent link: https://www.econbiz.de/10011244306

Chile; Selected Issues Paper

International Monetary Fund (IMF); International … - 2008

This Selected Issues paper examines the acceleration of inflation over the past year in Chile, identifying domestic … compares it with alternative policy rules. The paper concludes that Chile’s framework based on an explicit inflation target, a …

Persistent link: https://www.econbiz.de/10011244342

South Africa; Selected Issues

International Monetary Fund (IMF); International … - 2008

This Selected Issues paper discusses the policy response by a sample of central banks to the ongoing oil and food price shocks in South Africa, drawing some lessons, which can help put in context developments in the country. The paper discusses first- and second-round effects of â€œsupply...

Persistent link: https://www.econbiz.de/10011244349