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Monetary and Fiscal Policy Options for Dealing with External Shocks : Insights from the GIMF for Colombia

Flores, Enrique - 2009

results suggest that under Colombia’s inflation targeting regime, which incorporates exchange rate flexibility and a highly …

Persistent link: https://www.econbiz.de/10014402239

A Practical Model-Based Approach to Monetary Policy Analysis : Overview

Laxton, Douglas - 2006

This paper motivates and describes an approach to forecasting and monetary policy analysis based on the use of a simple structural macroeconomic model, along the lines of those in use in a number of central banks. It contrasts this approach with financial programming and its emphasis on monetary...

Persistent link: https://www.econbiz.de/10014402252

Broad Money Demand and Monetary Policy in Tunisia

Treichel, Volker - 1997

paper. Finding stable money demand functions, it broadly corroborates the choice of monetary aggregates as intermediate … that both interest rates and reserve money are feasible operating targets and suggests that the Central Bank orients its …

Persistent link: https://www.econbiz.de/10014403786

Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility

Isard, Peter - 2001

a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed … inflation expectations respond endogenuously policy credibility strengthens the case for forward-looking inflation forecast …

Persistent link: https://www.econbiz.de/10014403818

The ECB'S Money Pillar : An Assessment

Jaeger, Albert - 2003

connection between variations in nominal money growth and inflation in the short to medium run. As a consequence, effective …This paper discusses the case for a money pillar in the European Central Bank''s (ECB) monetary policy strategy. Time …-series evidence for industrial countries based on frequency-domain and unobserved-components analysis suggests that money can play a …

Persistent link: https://www.econbiz.de/10014403843

Availability of Financial Soundness Indicators

Slack, Graham L. - 2003

Because the wave of financial crises in recent years has spurred analysts'' and policymakers'' interest in monitoring the vulnerabilities of financial systems, the need for supporting data has increased. This paper presents survey results on the collection, compilation, and dissemination of data...

Persistent link: https://www.econbiz.de/10014403860

Does Trade Credit Substitute Bank Credit? : Evidence From Firm-Level Data

De Blasio, Guido - 2003

The paper examines micro data on Italian manufacturing firms'' inventory behavior to test the Meltzer (1960) hypothesis according to which firms substitute trade credit for bank credit during periods of monetary tightening. It finds that their inventory investment is constrained by the...

Persistent link: https://www.econbiz.de/10014403875

Cross-Country and Cross-Sector Analysis of Transparency of Monetary and Financial Policies

International Monetary Fund - 2003

In this paper we construct indices of transparency of monetary and financial policies, based on self-evaluations carried out by 135 IMF member countries in 1999, and use them to identify transparency patterns across different policies and country groups. We find that across all countries,...

Persistent link: https://www.econbiz.de/10014403895

Responsibility of Central Banks for Stability in Financial Markets

Schinasi, Garry J. - 2003

What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the experiences in Europe, Japan, and the United States, and by examining four questions. What is meant by financial stability? Do central banks have a...

Persistent link: https://www.econbiz.de/10014403943

The Impact of Monetary Policyon the Bilateral Exchange Rate : Chile Versus the United States

Zettelmeyer, Jeromin - 2003

This paper examines the reaction of the bilateral Ch$/US$ exchange rate to monetary policy actions in Chile and the United States. The approach is to regress the change in the exchange rate following a policy announcement on changes in market interest rates in response to the same announcement....

Persistent link: https://www.econbiz.de/10014403954