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Macroeconomic Implications of the Transition to Inflation Targeting and Capital Account Liberalization in Romania

Gueorguiev, Nikolay; Berkmen, Pelin - International Monetary Fund (IMF) - 2004

In the near future, Romania will introduce inflation targeting and fully liberalize its capital account. This paper … central bank loss function containing the deviations of inflation, output, and the real exchange rate from their equilibrium …

Persistent link: https://www.econbiz.de/10005769036

Pacific Island Countries; Possible Common Currency Arrangement

Orsmond, David William Harold; Browne, Christopher - International Monetary Fund (IMF) - 2006

This paper examines the potential advantages and disadvantages of adopting a common currency arrangement among the six IMF member Pacific island countries that have their own national currency. These countries are Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu. The study...

Persistent link: https://www.econbiz.de/10005826157

Islamic Republic of Iran; 2005 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive D...

International Monetary Fund (IMF); International … - 2006

Iran's 2005 Article IV Consultation highlights Fourth Five-Year Development Plan (FFYDP) and the Twenty-Year Vision. The country's real GDP growth reached 5Â½ percent a year on average, unemployment declined, and macroeconomic indicators improved significantly, supported by favorable oil...

Persistent link: https://www.econbiz.de/10011244296

Spillover Effects of Exchange Rates; A Study of the Renminbi

Subramanian, Arvind; Mishra, Prachi; Mattoo, Aaditya - International Monetary Fund (IMF) - 2012

This paper estimates the impact of China's exchange rate changes on exports of competitor countries in third markets, which we call the "spillover effect". We use recent theory to develop an identification strategy in which competition between China and its developing country competitors in...

Persistent link: https://www.econbiz.de/10011242332

China; Strengthening Monetary Policy Implementation

Laurens, Bernard; Maino, Rodolfo - International Monetary Fund (IMF) - 2007

The People's Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sophistication of the economy increases. Empirical evidence supports maintaining a reference to money in China's monetary strategy and enhancing the...

Persistent link: https://www.econbiz.de/10005769272

Practical Model-Based Monetary Policy Analysis; A How-To Guide

Laxton, Douglas; Berg, Andrew; Karam, Philippe D - International Monetary Fund (IMF) - 2006

This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips)...

Persistent link: https://www.econbiz.de/10005599522

External Performance in Low-Income Countries

Prati, Alessandro; Ricci, Luca Antonio; Christiansen, … - International Monetary Fund (IMF) - 2011

Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and...

Persistent link: https://www.econbiz.de/10010790491

Optimal and Sustainable Exchange Rate Regimes; A Simple Game-Theoretic Approach

Kawai, Masahiro - International Monetary Fund (IMF) - 1992

This paper examines the question of how to design an optimal and sustainable exchange rate regime in a world economy of two interdependent countries. It develops a Barro-Gordon type two-country model and compares noncooperative equilibria under different assumptions of monetary policy...

Persistent link: https://www.econbiz.de/10005264066

Toward Inflation Targeting in Sri Lanka

Ding, Ding; Anand, Rahul; Peiris, Shanaka J. - International Monetary Fund (IMF) - 2011

inflation forecast targeting regime in Sri Lanka. The FPAS model provides a relatively good forecast for inflation and a … framework to evaluate policy trade-offs. The model simulations suggest that an open-economy inflation targeting rule can reduce … could aim to target a broad inflation range initially due to its susceptibility supply-side shocks while enhancing exchange …

Persistent link: https://www.econbiz.de/10009019583

Macroeconomic Implications of Financial Dollarization; The Case of Uruguay

Gelos, Gaston; Mejía, Alejandro López; Piñón-Farah, … - International Monetary Fund (IMF) - 2008

direct bearing on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as …

Persistent link: https://www.econbiz.de/10011245904