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Romania; Request for a Stand-By Arrangement
International Monetary Fund (IMF); International … - 2013
This paper discusses Romania’s Request for a Stand-By Arrangement (SBA). Since the 2008 global financial crisis, Romania has made significant progress in reducing macroeconomic imbalances and rebuilding fiscal and financial buffers. However, Romania remains vulnerable to external shocks,...
Persistent link: https://www.econbiz.de/10011245005
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Money supply and the implementation of interest rate targets
Schabert, Andreas - 2005
In this paper, we analyze the relation between interest rate targets and money supply in a (bubble-free) rational expectations equilibrium of a standard cash-in-advance model. We examine lump-sum injections of money aimed to implement interest rate sequences that satisfy interest rate target...
Persistent link: https://www.econbiz.de/10011343954
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Early warning indicators : financial and macroeconomic imbalances in Central and Eastern European countries
Csortos, Orsolya; Szalai, Zoltán - 2014
In this paper we apply the Early Warning System methodology to ten Central and Eastern European Countries to find useful sets of indicators which could predict macroeconomic and financial imbalances. We argue that finding such indicators is crucial in the current monetary policy framework...
Persistent link: https://www.econbiz.de/10010403026
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When is Monetary Policy All we Need?
Wren-Lewis, Simon; Eser, Fabian - Department of Economics, Oxford University - 2009
.  Secondly, the optimal neutrality of government spending is robust to the issuance of public debt.  In the presence of debt …
Persistent link: https://www.econbiz.de/10004999238
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Fiscal sustainability in CEE countries - the case of the Czech Republic, Hungary and Poland
Mackiewicz-Łyziak, Joanna - 2014
Hungary may be caused, however, by a one-time reduction in debt resulting from changes in pension system. …
Persistent link: https://www.econbiz.de/10012002026
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Options for China in a dollar standard world : a sovereign currency approach
Wray, L. Randall; Liu, Xinhua - 2014
This paper examines the fiscal and monetary policy options available to China as a sovereign currency-issuing nation operating in a dollar standard world. We first summarize a number of issues facing China, including the possibility of slower growth, global imbalances, and a number of domestic...
Persistent link: https://www.econbiz.de/10010228185
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Currency wars, not public debt, may create a financial meltdown : conference paper
Pope, Robin; Selten, Reinhard - 2013
In studies concluding that public debt may hamper GDP growth, the debt tipping effects are estimated as if there were a … concessions and uncollected taxes as contributors to government debt. The conflation entices adherents to see all increases in … government debt as arising from excessive expenditures, so that in the current crisis, the real problems are unaddressed. Instead …
Persistent link: https://www.econbiz.de/10010340537
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Sovereign Debt Management as an Instrument of Monetary Policy : An Overview
Zampolli, Fabrizio - 2013
The composition of public debt by maturity is irrelevant in the standard New Keynesian model of monetary policy … relevance might also prove elusive. This paper reviews what theory has to say about the role of sovereign debt management as a …
Persistent link: https://www.econbiz.de/10013090853
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Government Debt Management at Low Interest Rates
McCauley, Robert N. - 2013
Debt management can be used at low interest rates to lower bond yields, to provide bank assets and thereby help …
Persistent link: https://www.econbiz.de/10013095335
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Banks and Governments : An Arial View
Gelpern, Anna - 2013
headlines since 2010. Events now known as banking or government debt crises often have had elements of both, and could have gone … banking crises as banks were for resolving sovereign debt crises. As capital movements have become more rapid and global, the …
Persistent link: https://www.econbiz.de/10013074254