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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
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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
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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
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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
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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
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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
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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
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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
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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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Haiti; Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Requests for Augmentation of Access and Waiver of Nonobservance of Performance...
International Monetary Fund (IMF); International … - 2008
This paper discusses key findings of the Third Review Under the Poverty Reduction and Growth Facility (PRGF) for Haiti. Despite external shocks, program performance was solid in the first half of FY2008, with all but one quantitative performance criteria (PC) met. Most structural conditionality...
Persistent link: https://www.econbiz.de/10011244304