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Rwanda; Third Review Under the Policy Support Instrument: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director f...

International Monetary Fund (IMF); International … - 2012

This paper presents key findings of the Third Review under the Policy Support Instrument (PSI) in Rwanda. Program performance was broadly satisfactory. All end-June quantitative assessment criteria were met. Structural benchmarks were partially met as the pace of implementation of structural...

Persistent link: https://www.econbiz.de/10011244254

Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa

Saxegaard, Magnus - International Monetary Fund (IMF) - 2006

This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...

Persistent link: https://www.econbiz.de/10005826003

The Payments Systems Reforms and Monetary Policy in Emerging Market Economies in Central and Eastern Europe

International Monetary Fund (IMF); International … - 1994

The paper discusses the interrelationships between payments system reform and monetary policy implementation in selected countries in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and...

Persistent link: https://www.econbiz.de/10005826638

Monetary Policy, Monetary Areas, and Financial Development with Electronic Money

Arnone, Marco; Bandiera, Luca - International Monetary Fund (IMF) - 2004

Electronic money (e-money), as a network good, could become an important form of currency in the future. Such a development could affect monetary policy effectiveness. If an increased use of e-money substantially limits the demand for central bank reserves, this limitation would require changes...

Persistent link: https://www.econbiz.de/10005769222

Inflation in Tajikistan; Forecasting Analysis and Monetary Policy Challenges

Vtyurina, Svetlana; Alturki, Fahad - International Monetary Fund (IMF) - 2010

This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing different transmission channels through the VECM, we were able to evaluate their...

Persistent link: https://www.econbiz.de/10008519491

The Payments System and its Effectson Monetary Operations; Recent Experience in the Russian Federation

International Monetary Fund (IMF); International … - 1994

Recent developments and reforms in the Russian payments system are discussed from the perspective of their impact on monetary policy. The large and highly variable payment float in the balance sheet of the Central Bank of Russia has complicated the conduct of monetary policy. However, reforms in...

Persistent link: https://www.econbiz.de/10008671310

Bank Ownership and the Effects of Financial Liberalization; Evidence From India

Gupta, Poonam; Kochhar, Kalpana; Panth, Sanjaya - International Monetary Fund (IMF) - 2011

Do financial sector reforms necessarily result in expansion of credit to the private sector? How does bank ownership … affect the availability of credit to the private sector? Empirical evidence is somewhat mixed on these issues. We use the … ask whether public and private banks deployed resources freed up by reduced state preemption to increase credit to the …

Persistent link: https://www.econbiz.de/10008876581

Horizontalists and Verticalists after 25 years

Culham, James; King, John E. - In: Review of Keynesian Economics 1 (2013) 4, pp. 391-391

We outline the core claims of Basil Moore's book Horizontalists and Verticalists: The Macroeconomics of Credit Money …

Persistent link: https://www.econbiz.de/10010854922

Is There a Credit Crunch in the Czech Republic?

Kapounek, Svatopluk; Reznakova, Lucie - Provozně ekonomická fakulta, Mendelova Univerzita v Brnĕ - 2014

We apply a disequilibrium model of credit demand and supply to test the credit crunch hy- pothesis. We suppose that … firms face credit rationing and a realised outstanding loan will be the minimum desired level of commercial bank loans and … bank limit for the firm. We adopted the disequilibrium model which consists of credit supply and credit demand equations …

Persistent link: https://www.econbiz.de/10010938200

Credit and money in 1960

In: Federal Reserve Bulletin (1961) Feb, pp. 129-136

Persistent link: https://www.econbiz.de/10005379973

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