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The Flexible System of Global Models – FSGM
Andrle, Michal; Blagrave, Patrick; Espaillat, Pedro; … - International Monetary Fund (IMF) - 2015
The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on...
Persistent link: https://www.econbiz.de/10011242191
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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 Republic’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
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Rwanda; Third Review Under the Policy Support Instrument: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director f...
International Monetary Fund (IMF); International … - 2012
This paper presents key findings of the Third Review under the Policy Support Instrument (PSI) in Rwanda. Program performance was broadly satisfactory. All end-June quantitative assessment criteria were met. Structural benchmarks were partially met as the pace of implementation of structural...
Persistent link: https://www.econbiz.de/10011244254
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United States; 2006 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2006
high oil prices. Executive Directors commended the Federal Reserve for its monetary tightening. They recognized that the …
Persistent link: https://www.econbiz.de/10011244857
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Republic of Korea; Selected Issues
International Monetary Fund (IMF); International … - 2008
This Selected Issues paper for the Republic of Korea focuses on the role of monetary policy in the current context of slowing growth and rising inflation pressures. Korea has not remained immune to the global slowdown, and with the cycle turning downward, the trade-off between inflation and...
Persistent link: https://www.econbiz.de/10011245257
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A VAR Analysis of Kenya's Monetary Policy Transmission Mechanism; How Does the Central Bank's REPO Rate Affect the Economy?
Cheng, Kevin C. - International Monetary Fund (IMF) - 2006
This paper examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate … main results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices … variations in the short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while …
Persistent link: https://www.econbiz.de/10005263733
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Sources of Inflation in Sub-Saharan Africa
Peiris, Shanaka J.; Barnichon, Régis - International Monetary Fund (IMF) - 2007
This paper explores the sources of inflation in Sub-Saharan Africa by examining the relationship between inflation, the output gap, and the real money gap. Using heterogeneous panel cointegration estimation techniques, we estimate cointegrating vectors for the production function and the real...
Persistent link: https://www.econbiz.de/10005263752
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International Policy Coordination and Simple Monetary Policy Rules
Berger, Wolfram; Wagner, Helmut - International Monetary Fund (IMF) - 2006
trade. Prices of final consumption goods are sticky in the consumer's currency. Pursuing an inward-looking policy, as … price indices is dominated by rules that allow for some fluctuations in prices such as nominal income or monetary targeting. …
Persistent link: https://www.econbiz.de/10005264091
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Central Bank Response to the 2007-08 Financial Market Turbulence; Experiences and Lessons Drawn
Stella, Peter; Shimizu, Seiichi; Gray, Simon; Klueh, … - International Monetary Fund (IMF) - 2008
The paper reviews the policy response of major central banks during the 2007–08 financial market turbulence and suggests that there is scope for convergence among central bank operational frameworks through the adoption of those elements that proved most instrumental in calming markets. These...
Persistent link: https://www.econbiz.de/10005825614
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Can a Rule-Based Monetary Policy Framework Work in a Developing Country? the Case of Yemen
Elekdag, Selim; Ltaifa, Nabil Ben; Schneider, Todd; … - International Monetary Fund (IMF) - 2007
Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper argues in favor of a new formal monetary policy...
Persistent link: https://www.econbiz.de/10005825743