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Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? a Review of the Experience so Far

Ishi, Kotaro; Fujita, Kenji; Stone, Mark R. - International Monetary Fund (IMF) - 2011

What is the case for adding the unconventional balance sheet policies used by major central banks since 2007 to the standard policy toolkit? The record so far suggests that the new liquidity providing policies in support of financial stability generally warrant inclusion. As the balance sheet...

Persistent link: https://www.econbiz.de/10009151230

Peru; Second Review Under the Stand-By Arrangement and Requests for Establishment of Performance Criteria, Wavier of Nonobservance of Performance Criteria, and Rephasing of Future...

International Monetary Fund (IMF); International … - 2007

This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...

Persistent link: https://www.econbiz.de/10011244851

Jamaica; Third Review Under the Stand-By Arrangement-Staff Report; Informational Annex; Staff Supplement; and the Press Release on the Executive Board Discussion.

International Monetary Fund (IMF); International … - 2011

Economic developments and growth of Jamaica are discussed in this paper. Despite the good performance under the program through end-September, mounting spending pressures and delays in some fiscal reforms have required the adoption of corrective measures by the authorities. The authorities...

Persistent link: https://www.econbiz.de/10011244977

Uruguay; Second Review under the Stand-By Arrangement, Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria, and Extension of Repurchase Exp...

International Monetary Fund (IMF); International … - 2006

Uruguayâ€™s Second Review Under the Stand-By Arrangement and Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria are discussed. Growth remains robust, inflation is subdued, and the external position continues to strengthen, with buoyant exports and...

Persistent link: https://www.econbiz.de/10011245054

United Kingdom; 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director fo...

International Monetary Fund (IMF); International … - 2009

This 2009 Article IV Consultation highlights that economic growth in the United Kingdom has turned sharply negative since mid-2008. Housing prices have fallen by more than 20 percent from their peak, the unemployment rate has increased, and inflation has come down. In response to the crisis, the...

Persistent link: https://www.econbiz.de/10011245180

Monetary Policy Implementation at Different Stages of Market Development

Laurens, Bernard - International Monetary Fund (IMF) - 2005

The most salient trend in monetary policy over the past two decades has been increasing reliance on money market operations, which reflects the belief that allowing market forces to allocate financial resources brings about increased economic efficiency and growth. However, small economies and...

Persistent link: https://www.econbiz.de/10005252522

What Determines Bond Market Development in Sub-Saharan Africa?

Adelegan, Olatundun Janet; Radzewicz-Bak, Bozena - International Monetary Fund (IMF) - 2009

This study empirically analyzes the determinants of bond market development in a cross section of 23 sub …-Saharan African (SSA) countries between 1990 and 2008. It considers the stage of development and the size of the bond market, as well … as the historical, structural, institutional and macroeconomic factors driving bond market development in SSA. The study …

Persistent link: https://www.econbiz.de/10008559281

Balance Sheet Vulnerabilities of Mauritius During a Decade of Shocks

International Monetary Fund (IMF); International … - 2010

After reviewing the economic reform strategy of Mauritius for the past 10 years in the face of several external shocks, we apply a balance sheet analysis (BSA) focusing on currency, maturity, and intersectoral mismatches. In reviewing developments over this decade, we find that the currency and...

Persistent link: https://www.econbiz.de/10008560418

Chile; Institutions and Policies Underpinning Stability and Growth

Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004

This paper presents the primary institutions and economic policies that have led to Chileâ€™s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

Persistent link: https://www.econbiz.de/10005767351

How Does Public External Debt Affect Corporate Borrowing Costs in Emerging Markets?

Celasun, Oya; Agca, Senay - International Monetary Fund (IMF) - 2009

Using data on syndicated loan issuances by emerging market firms, we find that an increase in the external debt of emerging market governments significantly raises the borrowing costs of the domestic corporate sector. This finding suggests that a higher level of public external debt "crowds out"...

Persistent link: https://www.econbiz.de/10008497605

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