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U.S. Fiscal Policies and Priorities for Long-Run Sustainability
Mühleisen, Martin; Towe, Christopher M. - International Monetary Fund (IMF) - 2004
discussions with the U.S.authorities in 2002 and 2003. …
Persistent link: https://www.econbiz.de/10005824863
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Money Demand and Inflation in Madagascar
Nassar, Koffie Ben - International Monetary Fund (IMF) - 2005
This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in Madagascar during the period 1982-2004. The estimated model, using quarterly data, finds a stable long-run relationship among monetary aggregates, domestic prices, real income, and...
Persistent link: https://www.econbiz.de/10005825934
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Why Has the Euro Been so Weak?
Meredith, Guy - International Monetary Fund (IMF) - 2001
The weakness of the euro has been surprising given the widely-held expectation that it would be a strong currency. This paper critically examines explanations for the slide in the euro, finding that many are questionable on conceptual or empirical grounds. Two explanations are instead advanced...
Persistent link: https://www.econbiz.de/10005825992
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Oil and the World Economy; Some Possible Futures
Kumhof, Michael; Muir, Dirk - International Monetary Fund (IMF) - 2012
This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional production technologies the effects are modest. But...
Persistent link: https://www.econbiz.de/10011242343
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Inflation Uncertainty and Relative Price Variability in WAEMU Countries
Gerling, Kerstin; Valdovinos, Carlos Fernandez - International Monetary Fund (IMF) - 2011
Using a consistent dataset and methodology for all eight member countries of the West African Economic and Monetary Union (WAEMU) from 1994 to 2009, this paper provides evidence of the two major channels for real effects of inflation: inflation uncertainty and relative price variability. In line...
Persistent link: https://www.econbiz.de/10008876598
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Optimal Price Indices for Targeting Inflation Under Incomplete Markets
Anand, Rahul; Prasad, Eswar - International Monetary Fund (IMF) - 2010
output gap. These results are particularly relevant for emerging markets, where the share of food expenditures in total …
Persistent link: https://www.econbiz.de/10008671286
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Capital Flows and Financial Stability; Monetary Policy and Macroprudential Responses
Unsal, D. Filiz - International Monetary Fund (IMF) - 2011
The resumption of capital flows to emerging market economies since mid 2009 has posed two sets of interrelated challenges for policymakers: (i) to prevent capital flows from exacerbating overheating pressures and consequent inflation, and (ii) to minimize the risk that prolonged periods of easy...
Persistent link: https://www.econbiz.de/10009293772
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Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants
International Monetary Fund (IMF); International … - 2012
This paper analyzes the exchange rate pass-through to domestic prices and its determinants in sub-Saharan African countries. It finds that the pass-through is incomplete. The pass-through is larger following a depreciation than after an appreciation of the local currency. The average elasticity...
Persistent link: https://www.econbiz.de/10010790331
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World Food Prices, the Terms of Trade-Real Exchange Rate Nexus, and Monetary Policy
Catão, Luis; Chang, Roberto - International Monetary Fund (IMF) - 2013
How should monetary policy respond to large fluctuations in world food prices? We study this question in an open … economy model in which imported food has a larger weight in domestic consumption than abroad and international risk sharing … response to world food price shocks. This exacerbates the policy trade-off between stabilizing output prices vis a vis the real …
Persistent link: https://www.econbiz.de/10010838009
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An Estimated Dynamic Stochastic General Equilibrium Model of the Jordanian Economy
Poghosyan, Tigran; Beidas-Strom, Samya - International Monetary Fund (IMF) - 2011
This paper presents and estimates a small open economy dynamic stochastic general-equilibrium model (DSGE) for the Jordanian economy. The model features nominal and real rigidities, imperfect competition and habit formation in the consumer’s utility function. Oil imports are explicitly...
Persistent link: https://www.econbiz.de/10008839360