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Shock Therapy! What Role for Thai Monetary Policy?

Alp, Harun; Elekdag, Selim - International Monetary Fund (IMF) - 2012

Thailand had to endure three major shocks during 2008â€“2011: the global financial crisis, the Japanese earthquake, and … the Thai floods of 2011. Over this period, consistent with its inflation targeting framework, the Bank of Thailand (BOT … added up to a total of 4 percentage points to real GDP growth during periods when Thailand had to weather these three major …

Persistent link: https://www.econbiz.de/10011142014

Rules versus discretion at the Federal Reserve System: On to the second century

Friedman, Benjamin M. - In: Journal of Macroeconomics 34 (2012) 3, pp. 608-615

Much of the experience of the U.S. Federal Reserve System, during the institution’s first hundred years, has revolved around controversies that fit squarely within the classical debate over rules versus discretion in economic policymaking. This paper looks back at the major episodes in this...

Persistent link: https://www.econbiz.de/10010595239

The Design and Conduct of Monetary Policy: Lessons for Pakistan (The Quaid-i-Azam Lecture)

Khan, Mohsin S. - In: The Pakistan Development Review 48 (2009) 4, pp. 337-356

Movements in global capital during the late 1990s and the greater emphasis on price stability led many countries to abandon fixed exchange rate regimes and to design institutions and monetary policies to achieve credibility in the goal of lowering inflation. Such recent developments have brought...

Persistent link: https://www.econbiz.de/10010721409

Much Ado About Nothing? Estimating the Impact of a U.S. Slowdownon Thai Growth

Aiyar, Shekhar; Tchakarov, Ivan - International Monetary Fund (IMF) - 2008

External demand was the main driver of growth in Thailand in 2006 and 2007. However, WEO projections indicate …, and high oil prices. While the share of Thai exports to the US has fallen in recent years, the US remains Thailand …

Persistent link: https://www.econbiz.de/10005248323

Did Monetary Laxity in Japan Cause the Bubble?

Posen, Adam S. - In: CESifo Forum 4 (2003) 4, pp. 21-26

Persistent link: https://www.econbiz.de/10005013171

The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions

Claessens, Stijn; Kodres, Laura E. - International Monetary Fund (IMF) - 2014

We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into...

Persistent link: https://www.econbiz.de/10011142013

Policy Responses to Capital Flows in Emerging Markets

Pradhan, Mahmood; Balakrishnan, Ravi; Baqir, Reza; … - International Monetary Fund (IMF) - 2011

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

Persistent link: https://www.econbiz.de/10010790479

Financial Stability and Monetary Policy

Basci, Erdem; Kara, Hakan - Türkiye Cumhuriyet Merkez Bankası - 2011

Rapid credit growth, short-term capital inflows, and associated macro-financial risks in the aftermath of the global crisis necessitated the use of alternative policy instruments in Turkey. Accordingly, the Central Bank of the Republic of Turkey (CBRT) has designed and adopted a new policy mix...

Persistent link: https://www.econbiz.de/10009019463

Monetary Policy Analysis in a Small Open Economy: A Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - Volkswirtschaftliche Fakultät, … - 2006

This paper develops and estimates a dynamic stochastic general equilibrium model of a small open economy which approximately accounts for the empirical evidence concerning the monetary transmission mechanism, as summarized by impulse response functions derived from an estimated structural vector...

Persistent link: https://www.econbiz.de/10005617145

Is there a Role for International Trade Costs in Explaining the Central Bank Behavior?

Hakan, Yilmazkuday - Volkswirtschaftliche Fakultät, … - 2009

This paper develops an open-economy DSGE model to analyze the effects of international trade costs on monetary policy of open economies. The implications of this micro-founded New-Keynesian model are tested on a prototype small economy that is open to international trade costs shocks, Canada....

Persistent link: https://www.econbiz.de/10005034993