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The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies
Borensztein, Eduardo; Berg, Andrew - International Monetary Fund (IMF) - 2000
We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information …
Persistent link: https://www.econbiz.de/10005264031
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Overshooting and Dollarization in the Democratic Republic of the Congo
Beaugrand, Philippe - International Monetary Fund (IMF) - 2003
calibrated for the Democratic Republic of the Congo in the 1990s and is used to derive estimates of the rate of dollarization. …
Persistent link: https://www.econbiz.de/10005264134
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Monetary Transmission Mechanisms in Belarus
Maino, Rodolfo; Horváth, Balázs - International Monetary Fund (IMF) - 2006
inflation. We discuss dollarization, administrative interventions, and other features complicating monetary policy transmission …
Persistent link: https://www.econbiz.de/10005825964
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Dollarization, Monetary Policy, and the Pass-Through
Ize, Alain; Parrado, Eric - International Monetary Fund (IMF) - 2002
This paper explores how real dollarization (dollar indexing of wages), financial dollarization (dollar denomination of … shocks. Real dollarization is avoided as long as the home monetary authorities conduct monetary policy optimally (maximize … local welfare). Suboptimal monetary policies are more likely to induce real dollarization when the correlation between …
Persistent link: https://www.econbiz.de/10005826531
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Making Monetary Policy More Effective: The Case of the Democratic Republic of the Congo
Fischer, Felix; Lundgren, Charlotte J.; Jahjah, Samir - International Monetary Fund (IMF) - 2013
The paper looks at the challenges of conducting monetary policy in a context of high dollarization of the banking …
Persistent link: https://www.econbiz.de/10010790264
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Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area
Quint, Dominic; Rabanal, Pau - International Monetary Fund (IMF) - 2013
In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential policy can play a role. We find that the introduction of a...
Persistent link: https://www.econbiz.de/10010790358
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Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy; The Case of Georgia
Billmeier, Andreas; Mathisen, Johan - International Monetary Fund (IMF) - 2006
-high level of dollarization continues to create financial vulnerabilities, but that the overall level of currency mismatch has …
Persistent link: https://www.econbiz.de/10005825889
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Foreign Currency Deposits and International Liquidity Shortages in Pakistan
Mirakhor, Abbas; Zaidi, Iqbal Mehdi - International Monetary Fund (IMF) - 2004
This paper studies the implications of foreign currency deposits (FCDs) for international liquidity shortages in Pakistan. The analysis focuses on how the large volume of FCDs and the specific institutional characteristics of those deposits have made the Pakistan economy highly vulnerable to...
Persistent link: https://www.econbiz.de/10005826483
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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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The Bank Lending Channel of Monetary Transmission; Does it Work in Turkey?
Brooks, Petya Koeva - International Monetary Fund (IMF) - 2007
Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as an exogenous shock that prompted a significant tightening of monetary policy, this paper examines the loan supply response of Turkey's banks, depending on their balance sheet...
Persistent link: https://www.econbiz.de/10005248226