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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 … and appreciation in the nominal exchange rate, but has insignificant impact on output. Moreover, the paper finds that …
Persistent link: https://www.econbiz.de/10005263733
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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
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Monetary Transmission Mechanisms in Belarus
Maino, Rodolfo; Horváth, Balázs - International Monetary Fund (IMF) - 2006
-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary …
Persistent link: https://www.econbiz.de/10005825964
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Transmission Mechanisms of Monetary Policy in Armenia; Evidence from VAR Analysis
Dabla-Norris, Era; Floerkemeier, Holger - International Monetary Fund (IMF) - 2006
, the interest rate channel remains weak, even though there is some evidence of transmission to prices of changes in the …
Persistent link: https://www.econbiz.de/10005768895
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The Cost Channel of Monetary Policy; Further Evidence for the United States and the Euro Area
Rabanal, Pau - International Monetary Fund (IMF) - 2003
increase in inflation. The model explains the joint dynamics of output, inflation, real wages, and interest rates, and is …
Persistent link: https://www.econbiz.de/10005768944
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Why is Canada's Price Level so Predictable?
Klyuev, Vladimir; Kiem, Heesun; Kamenik, Ondra; Laxton, … - International Monetary Fund (IMF) - 2008
has tended to revert to that path after temporary deviations. Econometric analysis using Bayesian estimation suggests that … major driver of actual inflation in Canada, which makes it easier to keep inflation close to the target without large output …
Persistent link: https://www.econbiz.de/10005769297
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The Maastricht Inflation Criterion; How Unpleasant is Purgatory?
Bulir, Ales; Hurník, Jaromír - International Monetary Fund (IMF) - 2006
The Maastricht inflation criterion, designed in the early 1990s to bring "high-inflation" EU countries in line with "low-inflation" countries prior to the introduction of the euro, poses challenges for both new EU member countries and the European Central Bank. While the criterion has positively...
Persistent link: https://www.econbiz.de/10005605112
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Innocent Bystanders? Monetary Policy and Inequality in the U.S.
Silvia, John; Kueng, Lorenz; Coibion, Olivier; … - International Monetary Fund (IMF) - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10010790323
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Canada; Selected Issues
International Monetary Fund (IMF); International … - 2008
The spillovers from the U.S. economy to Canada have been assessed. It uses structural vector autoregressions to analyze the role of financial linkages in real and financial spillovers from the United States to Canada. The implications of Canada’s predictable price level have been...
Persistent link: https://www.econbiz.de/10011243149