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Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa
Saxegaard, Magnus - International Monetary Fund (IMF) - 2006
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...
Persistent link: https://www.econbiz.de/10005826003
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Financial Sector Projections and Stress Testing in Financial Programming; A New Framework
Pascual, Antonio Garcia; Choueiri, Nada; Basu, Ritu - International Monetary Fund (IMF) - 2006
This paper proposes a framework to check for consistency between the IMF's standard country surveillance tool, namely medium-term projections of the macroeconomic framework (including the real, fiscal, external, and monetary sectors), and the financial sector. Consistency here entails that the...
Persistent link: https://www.econbiz.de/10005826073
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Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions
Saborowski, Christian; Weber, Sebastian - International Monetary Fund (IMF) - 2013
between 2003 and 2008, mainly due to positive risk sentiment, rising inflation and increasingly diversified banking sectors … proliferated and inflation moderated. …
Persistent link: https://www.econbiz.de/10011123851
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Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America
International Monetary Fund (IMF); International … - 2012
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their...
Persistent link: https://www.econbiz.de/10010878415
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Shock from Graying; Is the Demographic Shift Weakening Monetary Policy Effectiveness
Imam, Patrick A. - International Monetary Fund (IMF) - 2013
impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …
Persistent link: https://www.econbiz.de/10011242214
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Deciding to Enter a Monetary Union; TheRole of Trade and Financial Linkages
Lama, Ruy; Rabanal, Pau - International Monetary Fund (IMF) - 2012
This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from joining the euro. We evaluate two alternative scenarios....
Persistent link: https://www.econbiz.de/10011242323
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Are Non-Euro Area EU Countries Importing Low Inflation from the Euro Area?
Iossifov, Plamen; Podpiera, Jiri - International Monetary Fund (IMF) - 2014
are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open …-economy, New Keynsian Phillips curve, in which we control for imported inflation. Regression results suggest that falling food and … energy prices have been the main disinflationary driver. But low core inflation in the euro area has also had a clear and …
Persistent link: https://www.econbiz.de/10010959481
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Estimating Sri Lanka’s Potential Output
Ding, Ding; Nelmes, John; Perera, Roshan; Tulin, Volodymyr - International Monetary Fund (IMF) - 2014
data series including inflation, actual output, unemployment and capacity utilization. The estimation results suggest that …
Persistent link: https://www.econbiz.de/10011142089
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Germany; 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice; and Statement by the Executive Director for Germany
International Monetary Fund (IMF); International … - 2008
The German economy has made major strides, helped by wide-ranging reforms. Greater transparency and stronger incentives for prudent action will support crisis prevention and management. The immediate priorities are preserving the integrity of the financial system and maintaining economic...
Persistent link: https://www.econbiz.de/10011242796
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Jamaica; 2010 First Review of the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2010
Jamaica has performed well under the Stand-By Arrangement program. Executive Directors commended that overall macroeconomic performance under the program has been encouraging. Directors welcomed the program aimed at fiscal responsibility legislation and central treasury management, public debt...
Persistent link: https://www.econbiz.de/10011243799