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External Shocks and Inflation in Developing Countries Under a Real Exchange Rate Rule
Ostry, Jonathan David; Montiel, Peter - International Monetary Fund (IMF) - 1992
This paper shows that the response of inflation to external shocks is very different when the authorities target the real exchange rate than when they follow a fixed exchange rate or a preannounced crawling peg. Specifically, shocks that would have no effect on the steady-state inflation rate...
Persistent link: https://www.econbiz.de/10005248257
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The Empirics of Foreign Exchange Intervention in Emerging Markets; The Cases of Mexico and Turkey
Karacadag, Cem; Guimarães, Roberto Pereira - International Monetary Fund (IMF) - 2004
This paper analyzes the effects of intervention on the level and volatility of the exchange rate in Mexico and Turkey, two emerging countries that have floating exchange rate regimes. The paper finds mixed evidence on the effectiveness of intervention. In Mexico, foreign exchange sales have a...
Persistent link: https://www.econbiz.de/10005264020
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Optimal and Sustainable Exchange Rate Regimes; A Simple Game-Theoretic Approach
Kawai, Masahiro - International Monetary Fund (IMF) - 1992
This paper examines the question of how to design an optimal and sustainable exchange rate regime in a world economy of two interdependent countries. It develops a Barro-Gordon type two-country model and compares noncooperative equilibria under different assumptions of monetary policy...
Persistent link: https://www.econbiz.de/10005264066
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Why Has the Euro Been so Weak?
Meredith, Guy - International Monetary Fund (IMF) - 2001
empirical grounds. Two explanations are instead advanced that appear to be consistent both with theory and data. The first …
Persistent link: https://www.econbiz.de/10005825992
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Exchange Rate Policy and the Management of official and Private Capital Flows in Africa
Pattillo, Catherine A.; O'Connell, Stephen A.; Adam, … - International Monetary Fund (IMF) - 2004
We focus on the management of highly persistent shocks to aid flows, including PRSP-related increases in net inflows, in three “post-stabilization.” African economies with de jure flexible exchange rates. Such shocks have beneficent long-run effects, but when currency substitution is high...
Persistent link: https://www.econbiz.de/10005769010
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The Effects of Exchange Rate Fluctuationson Output and Prices; Evidence From Developing Countries
Kandil, Magda E.; Mirzaie, Ida Aghdas - International Monetary Fund (IMF) - 2003
The paper examines the effects of exchange rate fluctuations on real output and the price level in a sample of 33 developing countries. The theoretical model decomposes movements in the exchange rate into anticipated and unanticipated components. Unanticipated currency fluctuations help to...
Persistent link: https://www.econbiz.de/10005769253
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Robustness of adaptive expectations as an equilibrium selection device
Lettau, M.; Van Zandt, T. - Tilburg University, Center for Economic Research - 1995
Persistent link: https://www.econbiz.de/10011091604
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Looking forward: exiting unconventional monetary policy.
Tesfaselassie, Mewael F. - Kiel Institute for the World Economy - 2009
With interest rates in most developed countries close to zero, it is not possible for monetary policymakers to stimulate the economy by reducing interest rates. As a result the economy is unusually sensitive to the possibility of deflation, and thoughts turn to fiscal policy in order to...
Persistent link: https://www.econbiz.de/10008495237
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Looking forward: Exiting unconventional monetary policy.
Tesfaselassie, Mewael F. - Kiel Institute for the World Economy - 2009
Persistent link: https://www.econbiz.de/10008495268
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Finanz- und Geldpolitik - Vernichten sie Arbeitsplätze?
Nerb, Gernot; Langmantel, Erich; Juchems, Alexander - In: Ifo Schnelldienst 47 (1994) 16-17, pp. 20-27
Der Bericht analysiert den Zusammenhang zwischen Finanz- und Geldpolitik im Hinblick auf die Schaffung oder Vernichtung … Arbeitsteilung zwischen Fiskal- und Geldpolitik, der Keynessche Ansatz der Steuerung der Gesamtnachfrage sowie die Geldpolitik mit … restriktiver Geldpolitik und andererseits von moderater Lohnentwicklung und wachsendem BIP ausgegangen wird. Die Auswirkungen der …
Persistent link: https://www.econbiz.de/10005056118