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Central Bank Boards Around the World; Why Does Membership Size Differ?

Berger, Helge; Lybek, Tonny; Nitsch, Volker - International Monetary Fund (IMF) - 2006

This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is...

Persistent link: https://www.econbiz.de/10005768852

Inflation, Debt, and Default in a Monetary Union

Jahjah, Samir - International Monetary Fund (IMF) - 2000

equilibrium with no inflation and no default exists. However, highly-indebted countries are more likely to default once they join …

Persistent link: https://www.econbiz.de/10005605185

Financial Stability and Fiscal Crises in a Monetary Union

Jahjah, Samir - International Monetary Fund (IMF) - 2001

help prevent or minimize the risk of fiscal crises and the corresponding risk of central bank financing and inflation. …

Persistent link: https://www.econbiz.de/10005826053

DSGE Modeling At the Fund; Applications and Further Developments

Botman, Dennis P. J.; Rose, David; Laxton, Douglas; … - International Monetary Fund (IMF) - 2007

Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of these models. The Global Economy Model is a quarterly model that features a large...

Persistent link: https://www.econbiz.de/10005826064

The Macroeconomics of Scaling Up Aid; The Gleneagles Initiative for Benin

Mongardini, Joannes; Samaké, Issouf - International Monetary Fund (IMF) - 2009

This paper assesses the macroeconomic implications of scaling up aid for Benin in line with the Gleneagles commitment to double aid to poor countries over the next three years to reach $85 per capita by 2010 and keep it at that level thereafter. The analysis suggests that the additional aid...

Persistent link: https://www.econbiz.de/10008528643

Debt Stabilization Bias and the Taylor Principle; Optimal Policy in a New Keynesian Model with Government Debt and Inflation Persistence

Vines, David; Stehn, Sven Jari - International Monetary Fund (IMF) - 2007

We analyse optimal monetary and fiscal policy in a New-Keynesian model with public debt and inflation persistence … striking result is not true with high degrees of inflation persistence. Secondly, we show that optimal fiscal policy is more … active under discretion than commitment at all degrees of inflation persistence and all levels of debt. …

Persistent link: https://www.econbiz.de/10005264222

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability

Kuester, Keith; Mueller, Gernot J.; Corsetti, Giancarlo; … - International Monetary Fund (IMF) - 2012

This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a "sovereign risk channel" through which sovereign default risk raises funding costs in the...

Persistent link: https://www.econbiz.de/10009650633

Macroeconomic Implications of Financial Dollarization; The Case of Uruguay

Gelos, Gaston; Mejía, Alejandro López; Piñón-Farah, … - International Monetary Fund (IMF) - 2008

direct bearing on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as …

Persistent link: https://www.econbiz.de/10011245904

The Cyclicality of Sales, Regular and Effective Prices; Business Cycle and Policy Implications

Coibion, Olivier; Gorodnichenko, Yuriy; Hong, Gee Hee - International Monetary Fund (IMF) - 2012

. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective …

Persistent link: https://www.econbiz.de/10011242242

Household Production, Services and Monetary Policy

Ngouana, Constant Lonkeng - International Monetary Fund (IMF) - 2012

real macroeconomic variables to a monetary shock. Some empirical support for this theory is provided. …

Persistent link: https://www.econbiz.de/10010790290