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The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition; Issues and Lessons From Experience
International Monetary Fund (IMF); International … - 1994
authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of …
Persistent link: https://www.econbiz.de/10005826151
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Coordinating Public Debt and Monetary Management During Financial Reforms
Leite, Sérgio Pereira. - International Monetary Fund (IMF) - 1992
The paper analyzes the interplay between public debt and monetary management during financial reforms, and provides … and public debt at the onset and through different phases of a financial reform and emphasizes that many objectives of … public debt and monetary management are mutually supportive. It recommends the setting up of units to deal with public debt …
Persistent link: https://www.econbiz.de/10005826325
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Central Bank Quasi-Fiscal Losses and High Inflation in Zimbabwe: A Note
Muñoz, Sònia - International Monetary Fund (IMF) - 2007
Zimbabwe's failure to address continuing central bank quasi-fiscal losses has interfered with both monetary management and the independence and credibility of the Reserve Bank of Zimbabwe (RBZ). Realized quasi-fiscal losses are estimated to have amounted to about 75 percent of GDP in 2006....
Persistent link: https://www.econbiz.de/10005769073
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Public Debt Markets in Central America, Panama, and the Dominican Republic
Jobst, Andreas; Valderrama, Laura; Guerra, Ivan; Shah, … - International Monetary Fund (IMF) - 2007
This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets … account for the lion's share of capital markets, regional public debt markets remain underdeveloped for a variety of reasons …. The problems of small scale, dollarization, and weak public finances in many countries are compounded by poor structure …
Persistent link: https://www.econbiz.de/10005825635
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Treasury Bills and/Or Central Bank Bills for Absorbing Surplus Liquidity; The Main Considerations
Nyawata, Obert - International Monetary Fund (IMF) - 2012
This paper discusses the challenging question of whether central banks should use treasury bills or central bank bills for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central bank bills, the paper argues that treasury bills are...
Persistent link: https://www.econbiz.de/10009654145
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Central Bank Boards Around the World; Why Does Membership Size Differ?
Berger, Helge; Lybek, Tonny; Nitsch, Volker - International Monetary Fund (IMF) - 2006
This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is...
Persistent link: https://www.econbiz.de/10005768852
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Optimal liquidity and economic stability
Linghui Han; Lee, Il Houng - 2012
Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess...
Persistent link: https://www.econbiz.de/10009615556
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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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Fiscal Policy in Pakistan Since 1970
International Monetary Fund (IMF); International … - 1992
The analysis in this paper suggests that the large fiscal deficits that Pakistan has experienced over most of the period since 1970 led to some crowding out of private investment, resulting in slower output growth than would otherwise have been observed. Past fiscal deficits have also resulted...
Persistent link: https://www.econbiz.de/10005248177
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Inflation Performance and Constitutional Central Bank Independence; Evidence From Latin America and the Caribbean
Gutierrez, Eva - International Monetary Fund (IMF) - 2003
This paper explores the relationship between the constitutional entrenchment of central bank independence and inflation performance. Empirical studies for developing countries have not found a relationship between central bank independence, proxied by the "de jure" independence established in...
Persistent link: https://www.econbiz.de/10005248207