Similar Search Results

Liquidity management under fixed exchange rate with open capital account

El Hamiani Khatat, Mariam; Veyrune, Romain Michel - 2019

This paper introduces a theoretical framework for liquidity management under fixed exchange rate arrangement, derived from the price-specie flow mechanism of David Hume. The framework highlights that the risk of short-term money market rates un-anchoring from the uncovered interest rate parity...

Persistent link: https://www.econbiz.de/10012009594

Financial Regulation and the Current Account

Wieladek, Tomasz - 2012

This paper examines the relationship between financial regulation and the current account in an intertemporal model of … the current account where financial regulation affects the current account through liquidity constraints. Greater … liquidity constraints decrease the size and persistence of the current account response to a net output shock. The theory is …

Persistent link: https://www.econbiz.de/10014396600

Monetary policy frameworks : an index and new evidence

Unsal, D. Filiz; Papageorgiou, Chris; Garbers, Hendre - 2022

We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks' laws and websites for 50 advanced economies,...

Persistent link: https://www.econbiz.de/10013170321

Monetary policy under an exchange rate anchor

El Hamiani Khatat, Mariam; Buessing-Loercks, Mark; … - 2020

This paper argues that there is scope for monetary policy under an exchange rate anchor, and discusses the related monetary policy design and implementation. It shows that the exchange rate can be used as the main monetary policy instrument while the policy rate can target the exchange rate. An...

Persistent link: https://www.econbiz.de/10012302036

The Evolution of Exchange Rate Regimes Since 1990 : Evidence From De Facto Policies

Bubula, Andrea - 2002

This paper presents a monthly database on de facto exchange rate regimes that covers all IMF members since 1990. Information from IMF country reports and other sources, including exchange rate data, is utilized to determine de facto exchange rate policies. Countries are categorized based on...

Persistent link: https://www.econbiz.de/10014399643

Exchange Rate Arrangements and Monetary Policy

International Monetary Fund - 1988

This paper examines the relationship between monetary and exchange rate policies by considering the factors that have led the authorities in developed and developing countries in Asia to alter their use of monetary policy instruments and exchange rate arrangements since the mid-1970s. There is...

Persistent link: https://www.econbiz.de/10014396158

A Political-Economic Model of the Choice of Exchange Rate Regime

Sun, Yan - 2002

Facing electoral uncertainty, a government chooses its exchange regime in a trade-off among three incentives: (i) tying the hands of its opponent should it lose the election; (ii) facilitating its own future policy implementation should it win the election; and (iii) increasing its chance of...

Persistent link: https://www.econbiz.de/10014399538

Welfare Effects of Uzbekistan's Foreign Exchange Regime

International Monetary Fund - 2000

In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistan’s quasi-fiscal multiple exchange rate regime generates identifiable welfare losses of 2-8 percent of GDP on import markets and up to 15 percent on export markets. These excess burdens have increased...

Persistent link: https://www.econbiz.de/10014399812

Bad Dreams Under Alternative Anchors : Are the Consequences Different?

Auernheimer, Leonardo - 2000

Using a simple model, this paper shows how a strict monetary rule exhibits characteristics similar to those of an exchange rate anchor, in terms of a lack of robustness in the presence of adverse expectations (“bad dreams”). More specifically, as an anticipated devaluation under an exchange...

Persistent link: https://www.econbiz.de/10014399910

The transmission of external shocks in Asia : country characteristics and policy responses

Deb, Pragyan; Nadeem, Sanaa; Peiris, Shanaka Jayanath - 2021

Persistent link: https://www.econbiz.de/10012487199

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