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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

procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have … new cross-country evidence on how they influence real private bank credit growth. Our results show that these instruments …

Persistent link: https://www.econbiz.de/10010878415

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

Inflation in Tajikistan; Forecasting Analysis and Monetary Policy Challenges

Vtyurina, Svetlana; Alturki, Fahad - International Monetary Fund (IMF) - 2010

This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing different transmission channels through the VECM, we were able to evaluate their...

Persistent link: https://www.econbiz.de/10008519491

Republic of Armenia; Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criterion: Staff Report; a...

International Monetary Fund (IMF); International … - 2006

The staff report for the Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility focuses on the Republic of Armeniaâ€™s economic environment and policy discussion. Financial sector reforms will focus on improving corporate governance, strengthening...

Persistent link: https://www.econbiz.de/10011244639

Macroeconomic Implications of Financial Dollarization; The Case of Uruguay

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

Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in favor of a free float, adoped a monetary regime initially based on money targets,...

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

The Bank Lending Channel of Monetary Transmission; Does it Work in Turkey?

Brooks, Petya Koeva - International Monetary Fund (IMF) - 2007

Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as an exogenous shock that prompted a significant tightening of monetary policy, this paper examines the loan supply response of Turkey's banks, depending on their balance sheet...

Persistent link: https://www.econbiz.de/10005248226

Monetary Policy with a touch of Basel

Chami, Ralph; Cosimano, Thomas F. - International Monetary Fund (IMF) - 2001

The typical portrait of monetary policy has the banks and the money supply being manipulated through changes in bank reserves. However, with only a small portion of bank deposits now subject to reserve requirements, an alternative explanation of how monetary policy influences banks is needed....

Persistent link: https://www.econbiz.de/10005263662

Monetary Policy and Corporate Behaviour in India

International Monetary Fund (IMF); International … - 2005

The paper examines the association and corporate behavior for a sample of manufacturing firms in India for the post-reform period 1992-2003. The findings suggest that a contractionary monetary policy lowers overall debt including bank debt, although the lagged response is positive, and listed...

Persistent link: https://www.econbiz.de/10005263785

Bank Losses, Monetary Policy and Financial Stability-Evidenceon the Interplay From Panel Data

Zicchino, Lea; Nier, Erlend - International Monetary Fund (IMF) - 2008

We assess the extent to which loan losses affect banks’ provision of credit to companies and households and examine how … feedback from losses to a reduction in credit is affected by the monetary policy stance. Using a unique cross-country dataset … of more than 600 banks from 32 countries, we find that losses lead to a reduction in credit and that this effect is more …

Persistent link: https://www.econbiz.de/10005826440

Monetary Transmission in Low Income Countries

Montiel, Peter; Spilimbergo, Antonio; Mishra, Prachi - International Monetary Fund (IMF) - 2010

This paper reviews monetary transmission mechanisms in low-income countries (LICs) to identify aspects of the channels that may operate differently in LICs relative to advanced and emerging economies. Given the weak institutional frameworks, reduced role of securities markets, imperfect...

Persistent link: https://www.econbiz.de/10008671304

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