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Monetary Policy, Monetary Areas, and Financial Development with Electronic Money
Arnone, Marco; Bandiera, Luca - International Monetary Fund (IMF) - 2004
Electronic money (e-money), as a network good, could become an important form of currency in the future. Such a development could affect monetary policy effectiveness. If an increased use of e-money substantially limits the demand for central bank reserves, this limitation would require changes...
Persistent link: https://www.econbiz.de/10005769222
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Uganda; Sixth Review Under the Policy Support Instrument and Request for an Extension of the Policy Support Instrument-Staff Report; Press Release on the Executive Board Discussion...
International Monetary Fund (IMF); International … - 2009
This paper discusses key findings of the Sixth Review for Uganda Under the Policy Support Instrument. Structural rigidities continue to pose challenges to macroeconomic management in Uganda. Persistent weaknesses in project implementation coupled with rigidities in domestic financial markets...
Persistent link: https://www.econbiz.de/10011244497
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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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China's Growth and Integration into the World Economy; Prospects and Challenges
Prasad, Eswar - International Monetary Fund (IMF) - 2004
China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s...
Persistent link: https://www.econbiz.de/10005252521
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Monetary Policy Implementation at Different Stages of Market Development
Laurens, Bernard - International Monetary Fund (IMF) - 2005
The most salient trend in monetary policy over the past two decades has been increasing reliance on money market operations, which reflects the belief that allowing market forces to allocate financial resources brings about increased economic efficiency and growth. However, small economies and...
Persistent link: https://www.econbiz.de/10005252522
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Central Bank Autonomy; Lessons From Global Trends
Laurens, Bernard; Sommer, Martin; Arnone, Marco; … - International Monetary Fund (IMF) - 2007
inflation levels. The paper identifies four broad principles of central bank autonomy that have been shared by the majority of …
Persistent link: https://www.econbiz.de/10005263819
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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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Central Bank Credit to the Government; What Can We Learn From International Practices?
Matamoros-Indorf, Marcela; Sharma, Mrinalini; Townsend, … - International Monetary Fund (IMF) - 2012
Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced countries, central banks do not finance government...
Persistent link: https://www.econbiz.de/10009650634
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Guinea; Staff-Monitored Program
International Monetary Fund (IMF); International … - 2005
This paper discusses the Staff-Monitored Program (SMP) for Guinea. Agreement in principle was reached on the SMP from April 2005 to March 2006. The program would support the authorities’ efforts in restoring macroeconomic stability and establish a track record of policy implementation to...
Persistent link: https://www.econbiz.de/10005824944
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Spain; 2002 Article IV Consultation — Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Spain
International Monetary Fund (IMF); International … - 2003
consumption lost momentum, as households coped with rising inflation and higher indebtedness. …
Persistent link: https://www.econbiz.de/10005825377