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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

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 IMFâ€™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

Measures of Central Bank Autonomy; Empirical Evidence for OECD, Developing, and Emerging Market Economies

Segalotto, Jean-François; Arnone, Marco; Laurens, Bernard - International Monetary Fund (IMF) - 2006

This paper presents an update of the Grilli-Masciandaro-Tabellini (GMT) index of central bank (CB) autonomy, based on CB legislation as of end-2003. The index is applied to a set of OECD and developing countries, and emerging market economies. For a smaller set of countries, the paper presents a...

Persistent link: https://www.econbiz.de/10005826057

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition; Issues and Lessons From Experience

International Monetary Fund (IMF); International … - 1994

In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt...

Persistent link: https://www.econbiz.de/10005826151

Independent Currency Authorities; An Analytic Primer

Osband, Kent; Villanueva, Delano - International Monetary Fund (IMF) - 1992

This paper provides an analytic overview of independent currency authorities (ICAs), sometimes called currency boards. ICAs issue and redeem domestic currency against an exchange standard on demand and back such operations through a 100 percent marginal foreign reserve cover. They also impose...

Persistent link: https://www.econbiz.de/10005826316

Coordinating Public Debt and Monetary Management During Financial Reforms

Leite, Sérgio Pereira. - International Monetary Fund (IMF) - 1992

The paper analyzes the interplay between public debt and monetary management during financial reforms, and provides suggestions on collaboration between the central bank and the treasury to achieve common objectives. It discusses monetary policy and public debt at the onset and through different...

Persistent link: https://www.econbiz.de/10005826325

Central Bank Governance; A Survey of Boards and Management

Morris, JoAnne; Lybek, Tonny - International Monetary Fund (IMF) - 2004

This paper identifies issues to consider when designing the structure, size, and composition of the governing boards and management of a central bank. While central bank autonomy and accountability are generally accepted as good practice, there is less consensus regarding the structure, size,...

Persistent link: https://www.econbiz.de/10005826504

The Macroprudential Framework; Policy Responsiveness and Institutional Arrangements

Lim, Cheng Hoon; Krznar, Ivo; Lipinsky, Fabian; Otani, Akira - International Monetary Fund (IMF) - 2013

This paper gauges if, and how, institutional arrangements are correlated with the use of macroprudential policy instruments. Using data from 39 countries, the paper evaluates policy response time in various types of institutional arrangements for macroprudential policy and finds that the...

Persistent link: https://www.econbiz.de/10011242316

Central Banking in Latin America: From the Gold Standard to the Golden Years

Jácome, Luis Ignacio - International Monetary Fund (IMF) - 2015

of increasing inflation; and the â€œgolden years,â€ when central banks succeeded in preserving price stability in an …

Persistent link: https://www.econbiz.de/10011242432

Samoa; 2007 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion for Samoa

International Monetary Fund (IMF); International … - 2007

Samoa has achieved a major economic transformation over the last decade and a half. This 2007 Article IV Consultation highlights that real per capita GDP in Samoa has increased by more than 3 percent per year on average, and external public debt has fallen below 40 percent of GDP. The external...

Persistent link: https://www.econbiz.de/10011242514

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