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Sticky Inflation and the Real Effects of Exchange Rate Based Stabilization

Celasun, Oya - International Monetary Fund (IMF) - 2003

Exchange rate-based inflation stabilization (ERBS) policies are associated with a boom-recession cycle in economic activity and sustained real exchange rate appreciation. A class of models in the literature has explained these empirical regularities with the lack of credibility of the...

Persistent link: https://www.econbiz.de/10005825871

Money Demand and Inflation in Madagascar

Nassar, Koffie Ben - International Monetary Fund (IMF) - 2005

This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in … monetary aggregates, domestic prices, real income, and foreign interest rates. In addition, the error-correction model shows …

Persistent link: https://www.econbiz.de/10005825934

Monetary Transmission Mechanisms in Belarus

Maino, Rodolfo; Horváth, Balázs - International Monetary Fund (IMF) - 2006

-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary …

Persistent link: https://www.econbiz.de/10005825964

Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy

Srour, Gabriel - International Monetary Fund (IMF) - 2004

The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...

Persistent link: https://www.econbiz.de/10005825986

U.K. Inflation and Relative Prices Over the Last Decade; How Important Was Globalization?

Hunt, Ben - International Monetary Fund (IMF) - 2007

factors argued to explain the differences in the trends in core inflation and relative prices in the United Kingdom, the Euro …

Persistent link: https://www.econbiz.de/10005826211

Barriers to Retail Competition and Prices; Evidence From Spain

Hoffmaister, Alexander W. - International Monetary Fund (IMF) - 2006

Why do prices in Spain's regions fail to converge? The prime suspects for this puzzling result are differences in … illustrate the effect of barriers on prices. A unique data set-derived from an extensive analysis of competition policies in … Spain- provides evidence that barriers to entry increase regional prices. The evidence also suggests that, consistent with …

Persistent link: https://www.econbiz.de/10005826506

Mexico'S Integration Into Nafta Markets; A View From Sectoral Real Exchange Rates and Transaction Costs

Juvenal, Luciana; Blavy, Rodolphe - International Monetary Fund (IMF) - 2008

A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the behavior of sectoral real exchange rates across Mexico, Canada and the U.S. Interpreting price threshold bands as transactions costs, we...

Persistent link: https://www.econbiz.de/10005826513

Managing Payment System Risk During the Transition From a Centrally Planned to a Market Economy

Hook, Andrew T. - International Monetary Fund (IMF) - 1992

The objectives and functions of payments systems in centrally planned economies are described and analyzed. These are compared to those of payments systems in market economies and to the characteristics of an ideal payments system. The dominant role of the state in the centrally planned...

Persistent link: https://www.econbiz.de/10005826585

Stress Testing Financial Systems; What to Do When the Governor Calls

Hilbers, Paul Louis Ceriel; Jones, Matthew T.; Slack, … - International Monetary Fund (IMF) - 2004

Stress testing is becoming a widely used tool to assess potential vulnerabilities in a financial system. This paper is intended to answer some of the basic questions that may arise as part of the process of stress testing. The paper begins with a discussion of stress testing in a financial...

Persistent link: https://www.econbiz.de/10005826600

Systematic Monetary Policy and the Effects of Oil Price Shocks.

Bernanke, Ben S.; Gertler, Mark; Waston, Mark - C.V. Starr Center for Applied Economics, Department of … - 1997

Macroeconomic shocks such as wil price increases induce a systematic (endogenous) response of monetary policy. We develop a VAR-based technique for decomposing the total economic effects of a given exogenous shock into the portion attributable directly to the shock and the part arising from the...

Persistent link: https://www.econbiz.de/10005826730