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Monetization in low- and middle-income countries
McLoughlin, Cameron; Kinoshita, Noriaki - 2012
The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...
Persistent link: https://www.econbiz.de/10009618525
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Suppressed Inflation and Money Demand in Zimbabwe.
Muñoz, Sònia - 2006
Persistent link: https://www.econbiz.de/10012691083
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Broad Money Demand and Asset Substitution in China
Wu, Ge - 2009
Recent changes to China's financial system, in particular ongoing interest rate liberalization, gradual movement toward a more flexible exchange rate regime, and rapid development of capital markets, have changed substantially the environment in which monetary policy operates. In light of these...
Persistent link: https://www.econbiz.de/10012677797
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Environmental Tax Reform : Principles from Theory and Practice to Date
Parry, Ian W.H - 2012
energy/environmental tax systems in Germany, Sweden, Turkey, and Vietnam suggests that there is substantial scope for policy … Reforms: The Case of Germany, Sweden, Turkey, and Vietnam -- A. Comparing Energy Systems in Sweden, Germany, Turkey, and … Energy under the Value-Added Tax System -- 5. Environmental Tax Reforms in Sweden, Germany, Turkey, and Vietnam -- References. …
Persistent link: https://www.econbiz.de/10012684557
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A New Taxonomy of Monetary Regimes
Bhundia, Ashok; Stone, Mark R. - International Monetary Fund (IMF) - 2004
This paper proposes a new taxonomy of monetary regimes defined by the choice and clarity of the nominal anchor. The regimes are as follows: (i) monetary nonautonomy, (ii) weak anchor, (iii) money anchor, (iv) exchange rate peg, (v) full-fledged inflation targeting, (vi) implicit price stability...
Persistent link: https://www.econbiz.de/10005248145
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Financial Market Risk and U.S. Money Demand
Cook, David; Choi, Woon Gyu - International Monetary Fund (IMF) - 2007
This paper examines empirically U.S. broad money demand emphasizing the role of financial market risk. We find that money demand rises with the liquidity risk of stock markets or the credit risk of corporate bond markets. After controlling for the effect of financial market risk, money demand...
Persistent link: https://www.econbiz.de/10005248246
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Fiscal Policy and Interest Rates; How Sustainable is the "New Economy"?
Kumar, Manmohan S.; Hauner, David - International Monetary Fund (IMF) - 2006
This paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of adverse factors in recent years. In particular, the paper focuses on the...
Persistent link: https://www.econbiz.de/10005248260
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Determinants of Deflation in Hong Kong SAR
Papa M'B. P. N'Diaye - International Monetary Fund (IMF) - 2003
This paper presents a comprehensive econometric analysis of the determinants of deflation in Hong Kong SAR. The analysis helps to determine the relative contributions of factors such as increased productivity, scarce money supply, and excess capacity in determining deflation. The main conclusion...
Persistent link: https://www.econbiz.de/10005248268
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The Monetary Approach to the Exchange Rate; Rational Expectations, Long-Run Equilibrium and Forecasting
MacDonald, Ronald; Taylor, Mark P. - International Monetary Fund (IMF) - 1992
We re-examine the monetary approach to the exchange rate from a number of perspectives, using monthly data on the deutschemark-dollar exchange rate. Using the Campbell-Shiller technique for testing present value models, we reject the restrictions imposed upon the data by the forward-looking...
Persistent link: https://www.econbiz.de/10005263652
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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 for Kenya using data during 1997–2005. Based on techniques commonly used in the vector autoregression literature, the main results suggest that an exogenous increase in the...
Persistent link: https://www.econbiz.de/10005263733