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The Cyclicality of Sales, Regular and Effective Prices; Business Cycle and Policy Implications
Coibion, Olivier; Gorodnichenko, Yuriy; Hong, Gee Hee - International Monetary Fund (IMF) - 2012
We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective …" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas … prices paid by consumers declines significantly with higher unemployment. This discrepancy can be reconciled by consumers …
Persistent link: https://www.econbiz.de/10011242242
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Estimating the Implicit Inflation Target of the South African Reserve Bank
Klein, Nir - International Monetary Fund (IMF) - 2012
This paper applies a state-space approach to estimate the implicit inflation target of the South African Reserve Bank (SARB) since the adoption of the Inflation Targeting (IT) framework. The paper's findings are two. First, although the official inflation target range is 3.6 percent, in...
Persistent link: https://www.econbiz.de/10010790261
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Innocent Bystanders? Monetary Policy and Inequality in the U.S.
Silvia, John; Kueng, Lorenz; Coibion, Olivier; … - International Monetary Fund (IMF) - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10010790323
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Bulgaria; Third Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria—Staff Report; Staff Statement; Press Release on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2003
Bulgaria's macroeconomic performance, in the face of the prolonged slowdown in the EU, has been impressive, but further efforts are required. The government's fiscal policy has underpinned recent economic success, and pressures to loosen such policies should be resisted. Fiscal reforms have...
Persistent link: https://www.econbiz.de/10005591059
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Former Yugoslav Republic of Macedonia; Second Review Under the Stand-By Arrangement and Ex Post Assessment of Performance Under Fund-Supported Programs—Staff Report; Staff Supplement; Ex Post Assessment of Longer-Term Program Engagement-Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Former Yugoslav ...
International Monetary Fund (IMF); International … - 2004
The staff report for the Second Review Under the Stand-By Arrangement on the Former Yugoslav Republic (FYR) of Macedonia highlights economic developments and policies. FYR of Macedonia’s economic performance since independence has been marked by notable achievements in macroeconomic...
Persistent link: https://www.econbiz.de/10005591101
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Bulgaria; Request for Stand-By Arrangement—Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Bulgaria
International Monetary Fund (IMF); International … - 2004
Bulgaria’s request for a 25-month precautionary Stand-By Arrangement (SBA) in an amount of SDR 100 million or 15.62 percent of quota is discussed. The SBA-supported program seeks to reduce increased external vulnerability and to achieve sustainable high growth through a tighter fiscal...
Persistent link: https://www.econbiz.de/10005591108
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Republic of Latvia; 2005 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Republic of Latvia
International Monetary Fund (IMF); International … - 2005
The staff report for the 2005 Article IV Consultation on the Republic of Latvia highlights the economic outlook and mid-term risks. A sound policy framework and far-reaching structural reforms supported this performance, including a prudent fiscal policy that underpinned the exchange rate peg....
Persistent link: https://www.econbiz.de/10005591444
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Sierra Leone; Sixth Review Under the Poverty Reduction and Growth Facility, Requests for Waiver of Performance Criteria and Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries, Review of Financing Assurances, and Ex Post Assessment of Longer—Term Program Engagement—Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and ...
International Monetary Fund (IMF); International … - 2005
This report reviews developments during 2004 in the context of the Sixth and Final Program Review Under Sierra Leone’s Poverty Reduction and Growth Facility (PRGF) arrangement with the IMF. The authorities have implemented an economic reform program supported by a PRGF arrangement since...
Persistent link: https://www.econbiz.de/10005768425
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Republic of Yemen; Statistical Appendix
International Monetary Fund (IMF); International … - 2005
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Persistent link: https://www.econbiz.de/10005768452
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Former Yugoslav Republic of Macedonia; 2003 Article IV Consultation and Request for Stand-By Arrangement—Staff Report; Staff Statement; and Public Information Notice and Press Release on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2003
This paper evaluates the 2003 Article IV Consultation and a Request for a Stand-By Arrangement (SBA) for the Former Yugoslav Republic of Macedonia (FYRM). The Article IV policy discussions focused on regaining a sustainable fiscal and external position, restarting economic growth and job...
Persistent link: https://www.econbiz.de/10005768473