Similar Search Results

The Distributional Consequences of Real Exchange Rate Adjustment

Klyuev, Vladimir - International Monetary Fund (IMF) - 2003

The paper focuses on distributional consequences of macroeconomic adjustment. The preferences of economic agents over the level of the real exchange rate derived from standard models are monotonic, with agents favoring either an infinitely appreciated or depreciated rate. To generate less...

Persistent link: https://www.econbiz.de/10005248306

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 … main results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices … variations in the short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while …

Persistent link: https://www.econbiz.de/10005263733

Bivariate Assessments of Real Exchange Rates Using PPP Data

Zalduendo, Juan - International Monetary Fund (IMF) - 2008

This paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are based exclusively on bivariate estimations. It begins by presenting an analytical framework of the real exchange rate that shows that these estimations make many restrictive...

Persistent link: https://www.econbiz.de/10005825611

Can a Rule-Based Monetary Policy Framework Work in a Developing Country? the Case of Yemen

Elekdag, Selim; Ltaifa, Nabil Ben; Schneider, Todd; … - International Monetary Fund (IMF) - 2007

Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper argues in favor of a new formal monetary policy...

Persistent link: https://www.econbiz.de/10005825743

A Real Model of Transitional Growth and Competitiveness in China

Lipschitz, Leslie; Verdier, Geneviève; Rochon, Céline - International Monetary Fund (IMF) - 2008

We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only...

Persistent link: https://www.econbiz.de/10005825815

Money Demand and Inflation in Madagascar

Nassar, Koffie Ben - International Monetary Fund (IMF) - 2005

This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in … monetary aggregates, domestic prices, real income, and foreign interest rates. In addition, the error-correction model shows …

Persistent link: https://www.econbiz.de/10005825934

Monetary Transmission Mechanisms in Belarus

Maino, Rodolfo; Horváth, Balázs - International Monetary Fund (IMF) - 2006

-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary …

Persistent link: https://www.econbiz.de/10005825964

Mexico'S Integration Into Nafta Markets; A View From Sectoral Real Exchange Rates and Transaction Costs

Juvenal, Luciana; Blavy, Rodolphe - International Monetary Fund (IMF) - 2008

A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the behavior of sectoral real exchange rates across Mexico, Canada and the U.S. Interpreting price threshold bands as transactions costs, we...

Persistent link: https://www.econbiz.de/10005826513

Maintaining Competitiveness Under Equilibrium Real Appreciation; The Case of Slovakia

Oomes, Nienke - International Monetary Fund (IMF) - 2005

. Slovak wages and prices are found to have been relatively low even when adjusted for differences in relative income and …

Persistent link: https://www.econbiz.de/10005768906

Does Productivity Growth Lead to Appreciation of the Real Exchange Rate?

Lee, Jaewoo; Tang, Man-Keung - International Monetary Fund (IMF) - 2003

tradable prices, rather than through relative prices between tradables and nontradables. Moreover, higher total factor …

Persistent link: https://www.econbiz.de/10005769108

1
2
3
4
5
6
7
8
9
10
Next
Last