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Central Bank Foreign Exchange Market Intervention and Option Contract Specification; The Case of Colombia
Mandeng, Ousmène - International Monetary Fund (IMF) - 2003
intervention. Option contract specifications determine the impact of options on the underlying asset or currency, and hence their …-based intervention. The paper reviews the experience of the systematic option-based foreign exchange market intervention of the Central …
Persistent link: https://www.econbiz.de/10005825716
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Official Intervention in the Foreign Exchange Market; Elements of Best Practice
Kriljenko, Jorge Iván Canales; Karacadag, Cem; … - International Monetary Fund (IMF) - 2003
This paper offers guidance on the operational aspects of official intervention in the foreign exchange market … counterparties in conducting intervention. The analysis highlights the difficulty of detecting exchange rate misalignments and … disorderly markets, and argues in favor of parsimony in official intervention. Determining the timing and amount of intervention …
Persistent link: https://www.econbiz.de/10005826478
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Republic of Belarus: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Belarus
International Monetary Fund (IMF); International … - 2014
KEY ISSUES Context: Attempts to boost activity with policy stimulus, in lieu of much-needed structural reform, have failed to raise growth and contributed to large external imbalances. Adverse developments in the region further cloud the outlook. High financing needs and low buffers leave...
Persistent link: https://www.econbiz.de/10011244333
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From Fixed to Float; Operational Aspects of Moving towards Exchange Rate Flexibility
Fernandez, Gilda; Karacadag, Cem; Duttagupta, Rupa - International Monetary Fund (IMF) - 2004
market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the …
Persistent link: https://www.econbiz.de/10005826173
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Modeling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New-Keynesian Framework
Benes, Jaromir; Berg, Andrew; Portillo, Rafael A; … - International Monetary Fund (IMF) - 2013
We study a wide range of hybrid inflation-targeting (IT) and managed exchange rate regimes, analyzing their implications for inflation, output and the exchange rate in the presence of various domestic and external shocks. To this end, we develop an open economy new-Keynesian model featuring...
Persistent link: https://www.econbiz.de/10011123860
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Monetary Policy Transmission in the GCC Countries
Prasad, Ananthakrishnan; Espinoza, Raphael A. - International Monetary Fund (IMF) - 2012
The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This paper shows, however, that the pass-through of policy rates to retail rates is on the low side, reflecting the...
Persistent link: https://www.econbiz.de/10010878414
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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
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their...
Persistent link: https://www.econbiz.de/10010878415
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Sierra Leone: 2013 Article IV Consultation and Request for a Three-Year Arrangement Under the Extended Credit Facility
International Monetary Fund (IMF); International … - 2013
This 2013 Article IV Consultation highlights that Sierra Leone has made significant progress in macroeconomic stabilization over the last five years. Real GDP growth averaged some 7 percent, driven by output expansion in agriculture, mining, and services; as well as the scaling-up of...
Persistent link: https://www.econbiz.de/10011244166
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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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Turkey: Staff Report for the 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This 2013 Article IV Consultation highlights that the Turkish economy achieved a welcome reduction of imbalances in 2012. In 2013, growth has accelerated significantly on the back of a monetary and fiscal policy stimulus. The economy is projected to expand by 3.8 percent this year, with private...
Persistent link: https://www.econbiz.de/10011244217