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Capital Flows, Financial Intermediation and Macroprudential Policies

Ghilardi, Matteo; Peiris, Shanaka J. - International Monetary Fund (IMF) - 2014

This paper develops an open-economy DSGE model with an optimizing banking sector to assess the role of capital flows, macro-financial linkages, and macroprudential policies in emerging Asia. The key result is that macro-prudential measures can usefully complement monetary policy. Countercyclical...

Persistent link: https://www.econbiz.de/10010959468

Monetary and Macroprudential Policies to Manage Capital Flows

Guzman, Juan Pablo Medina; Roldos, Jorge - International Monetary Fund (IMF) - 2014

We study interactions between monetary and macroprudential policies in a model with nominal and financial frictions. The latter derive from a financial sector that provides credit and liquidity services that lead to a financial accelerator-cum-fire-sales amplification mechanism. In response to...

Persistent link: https://www.econbiz.de/10011123855

Output Gap Uncertainty and Real-Time Monetary Policy

Grigoli, Francesco; Herman, Alexander; Swiston, Andrew; … - International Monetary Fund (IMF) - 2015

Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in distinguishing between cycle and trend in real time. This is important given the central role in monetary policy of assessments of economic activity relative to capacity. We show that...

Persistent link: https://www.econbiz.de/10011163120

Inflation and Fiscal Deficits; The Irrelevance of Debt and Money Financing

Barrionuevo, José M. - International Monetary Fund (IMF) - 1992

The purpose of this paper is to present a model that circumvents the requirement of explicitly setting a period in which the fiscal budget is to be balanced, yet implies that increases in the growth of public debt are bound to increase inflation when there is no perceived commitment to reduce...

Persistent link: https://www.econbiz.de/10005263970

The International Monetary System in the (Very) Long Run

Sussman, Nathan; Eichengreen, Barry J. - International Monetary Fund (IMF) - 2000

This paper takes stock of the evolution of the international monetary system over the last thousand years. Several points stand out from the analysis. One is the reluctance of governments to embrace radical changes in international monetary relations. Another is the conflict between external and...

Persistent link: https://www.econbiz.de/10005264089

Money, Meat, and Inflation; Using Price Data to Understand An Export Shock in Sudan

Ramcharan, Rodney - International Monetary Fund (IMF) - 2002

Sudanese inflation dramatically fell in 2000. But just prior to the sharp decline, an export ban was placed on Sudanese livestock. Motivated by this clue, and in the absence of any reliable income or employment data, this paper systematically develops simultaneous models of the consumer price...

Persistent link: https://www.econbiz.de/10005825891

How to Fight Deflation in a Liquidity Trap; Committing to Being Irresponsible

Eggertsson, Gauti B. - International Monetary Fund (IMF) - 2003

can be analyzed as a credibility problem if the government has only one policy instrument, money supply carried out by … solve the credibility problem. They involve printing money or nominal debt and either (1) cutting taxes, (2) buying real … these policy instruments. It commits to higher money supply in the future so that the private sector expects inflation …

Persistent link: https://www.econbiz.de/10005599394

The ECBâ€™s Monetary Analysis Revisited

Berger, Helge; Harjes, Thomas; Stavrev, Emil - International Monetary Fund (IMF) - 2008

money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non … policy decisions by providing a clearer narrative of the relative role of money in the interaction with other economic and …

Persistent link: https://www.econbiz.de/10005599686

Inflation in Pakistan; Money or Wheat?

Khan, Mohsin S.; Schimmelpfennig, Axel - International Monetary Fund (IMF) - 2006

Pakistan. A stylized inflation model is specified that includes standard monetary variables (money supply, credit to the …

Persistent link: https://www.econbiz.de/10005604974

Money and Inflation in the Islamic Republic of Iran

Bonato, Leo - International Monetary Fund (IMF) - 2007

real money balances, the approach followed here focuses on the relationship between nominal variables and inflation. The … at the end of the sample. The estimates confirm the strong relationship between money and inflation when M1 is used, with …

Persistent link: https://www.econbiz.de/10005605268

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