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Capital Inflows; Macroeconomic Implications and Policy Responses

Elekdag, Selim; Kose, M. Ayhan; Cardarelli, Roberto - International Monetary Fund (IMF) - 2009

This paper examines the macroeconomic implications of, and policy responses to surges in private capital inflows across a large group of emerging and advanced economies. In particular, we identify 109 episodes of large net private capital inflows to 52 countries over 1987-2007. Episodes of large...

Persistent link: https://www.econbiz.de/10005825695

Republic of Belarus; 2009 Article IV Consultation and Second Review Under the Stand-By Arrangement-Staff Report Informational Annex; Staff Statement; Public Information Notice on t...

International Monetary Fund (IMF); International … - 2009

This 2009 Article IV Consultation highlights that Belarus has so far escaped a significant fall in output, despite a sharp fall in external demand. GDP declined 0.5 percent year over year in the first eight months of 2009, comparing favorably to Belarusâ€™ main trading partners. Economic...

Persistent link: https://www.econbiz.de/10011245682

Exchange Rate Unification, the Equilibrium Real Exchange Rate, and Choice of Exchange Rate Regime; The Case of the Islamic Republic of Iran

International Monetary Fund (IMF); International … - 1999

of inflation, balance of payments, and productivity growth. …

Persistent link: https://www.econbiz.de/10005605085

To Peg or Not to Peg; A Template for Assessing the Nobler

Husain, Aasim M. - International Monetary Fund (IMF) - 2006

This paper proposes a template for assessing whether or not a country's economic and financial characteristics make it an appropriate candidate for a pegged exchange rate regime. The template employs quantifiable measures of attributes-trade orientation, financial integration, economic...

Persistent link: https://www.econbiz.de/10005605213

Malaysia; 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Malaysia

International Monetary Fund (IMF); International … - 2009

This 2009 Article IV Consultation highlights that Malaysia has been hit hard by the global downturn. The economy is set to contract for the first time in 10 years. Global turbulence has spilled into the domestic financial markets. Executive Directors have commended the Malaysian authorities for...

Persistent link: https://www.econbiz.de/10011243500

Can Higher Reserves Help Reduce Exchange Rate Volatility?

Nowak, M.; Hviding, Ketil; Ricci, Luca Antonio - International Monetary Fund (IMF) - 2004

This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging market countries. The study employs a panel of 28 countries over the period 1986-2002. Several control variables are introduced in the regressions to account for other factors...

Persistent link: https://www.econbiz.de/10005825686

Botswana; 2006 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities for Botswana

International Monetary Fund (IMF); International … - 2007

The staff report for the 2006 Article IV Consultation on Botswana highlights economic developments and monetary and exchange rate policy. Botswanaâ€™s growth has been fueled by continued increases in diamond production; and real diamond output is projected to level off, and then decline...

Persistent link: https://www.econbiz.de/10011244994

Transmission Mechanisms of Monetary Policy in Armenia; Evidence from VAR Analysis

Dabla-Norris, Era; Floerkemeier, Holger - International Monetary Fund (IMF) - 2006

inflation-targeting regime over the medium term. We find that the capability of monetary policy to influence economic activity … and inflation is still limited, as important channels of monetary transmission are not fully functional. In particular … repo rate, the central bank's new operating target for inflation. As in other emerging and transition economies with a high …

Persistent link: https://www.econbiz.de/10005768895

The Pros and Cons of Full Dollarization

Borensztein, Eduardo; Berg, Andrew - International Monetary Fund (IMF) - 2000

We analyze the costs and benefits of full dollarization compared to its closest alternative, a currency board, quantifying for Argentina where possible. Potential advantages include lower borrowing costs and deeper integration into world markets. One cost is the transfer of seigniorage to the...

Persistent link: https://www.econbiz.de/10005605277

New Shocks, Exchange Rates and Equityprices

Cova, Pietro; Rebucci, Alessandro; Matsumoto, Akito; … - International Monetary Fund (IMF) - 2008

We study exchange rate and equity price dynamics, in general equilibrium, in the presence of news shocks about future productivity and monetary policy. We identify a condition under which these asset prices become more volatile without affecting the volatility of the underlying processes-a...

Persistent link: https://www.econbiz.de/10005825757