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Monetary Policy Rules for Financially Vulnerable Economies

Monetary Policy Rules for Financially Vulnerable Economies »

Source: Monetary Policy Rules for Financially Vulnerable Economies

Volume/Issue: 2003/39

Series: IMF Working Papers

Author(s): Eduardo Morón , and Diego Winkelried

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2003

ISBN: 9781451845853

Keywords: Liability Dollarization, Monetary Policy Rules, exchange rate, inflation, real exchange rate, central bank, Open Economy Macroeconomics,

One distinguishable characteristic of emerging market economies is that they are not financially robust. These economies are incapable of smoothing out large external shocks, as sudden capital outflows imply large...

'Monetary and Fiscal Rules in an Emerging Small Open Economy'

'Monetary and Fiscal Rules in an Emerging Small Open Economy' »

Source: 'Monetary and Fiscal Rules in an Emerging Small Open Economy'

Volume/Issue: 2009/22

Series: IMF Working Papers

Author(s): Paul Levine , Joseph Pearlman , and Nicoletta Batini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

ISBN: 9781451871692

Keywords: emerging economies, fiscal and monetary rules, financial accelerator, liability dollarization, inflation, fiscal rule, nominal interest rate,

We develop a optimal rules-based interpretation of the 'three pillars macroeconomic policy framework': a combination of a freely floating exchange rate, an explicit target for inflation, and a mechanism than ensure...

Precautionary Demand for Foreign Assets in Sudden Stop Economies

Precautionary Demand for Foreign Assets in Sudden Stop Economies »

Source: Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Volume/Issue: 2007/146

Series: IMF Working Papers

Author(s): Enrique Mendoza , Ceyhun Bora Durdu , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451867107

Keywords: Fisherian Deflation, Liability Dollarization, Credit Constraints, foreign assets, financial globalization, foreign asset, net foreign assets,

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest f...

Why Do Emerging Economies Borrow in Foreign Currency?

Why Do Emerging Economies Borrow in Foreign Currency? »

Source: Why Do Emerging Economies Borrow in Foreign Currency?

Volume/Issue: 2003/177

Series: IMF Working Papers

Author(s): Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

ISBN: 9781451858891

Keywords: Liability Dollarization, Monetary Credibility, currency debt, foreign currency, domestic currency, currency composition, Financial Aspects of Economic Integration,

This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency compositio...

Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies

Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies »

Source: Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies

Volume/Issue: 2006/88

Series: IMF Working Papers

Author(s): Enrique Mendoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863482

Keywords: real exchange rate, liability dollarization, exchange rate, real exchange rates, relative price, exchange rates, International Finance: General, Open Economy Macroeconomics,

This paper shows that the dominant view that the high variability of real exchange rates is due to movements in exchange rate-adjusted prices of tradable goods does not hold for Mexican data for periods with a mana...

Monetary Policy Rules for Financially Vulnerable Economies

Monetary Policy Rules for Financially Vulnerable Economies »

Volume/Issue: 2003/39

Series: IMF Working Papers

Author(s): Eduardo Morón , and Diego Winkelried

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2003

DOI: http://dx.doi.org/10.5089/9781451845853.001

ISBN: 9781451845853

Keywords: Liability Dollarization, Monetary Policy Rules, exchange rate, inflation, real exchange rate, central bank, Open Economy Macroeconomics,

One distinguishable characteristic of emerging market economies is that they are not financially robust. These economies are incapable of smoothing out large external shocks, as sudden capital outflows imply large...

'Monetary and Fiscal Rules in an Emerging Small Open Economy'

'Monetary and Fiscal Rules in an Emerging Small Open Economy' »

Volume/Issue: 2009/22

Series: IMF Working Papers

Author(s): Paul Levine , Joseph Pearlman , and Nicoletta Batini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

DOI: http://dx.doi.org/10.5089/9781451871692.001

ISBN: 9781451871692

Keywords: emerging economies, fiscal and monetary rules, financial accelerator, liability dollarization, inflation, fiscal rule, nominal interest rate,

We develop a optimal rules-based interpretation of the 'three pillars macroeconomic policy framework': a combination of a freely floating exchange rate, an explicit target for inflation, and a mechanism than ensure...

Precautionary Demand for Foreign Assets in Sudden Stop Economies
			: An Assessment of the New Merchantilism

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism »

Volume/Issue: 2007/146

Series: IMF Working Papers

Author(s): Enrique Mendoza , Ceyhun Bora Durdu , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867107.001

ISBN: 9781451867107

Keywords: Fisherian Deflation, Liability Dollarization, Credit Constraints, foreign assets, financial globalization, foreign asset, net foreign assets,

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest f...

Why Do Emerging Economies Borrow in Foreign Currency?

Why Do Emerging Economies Borrow in Foreign Currency? »

Volume/Issue: 2003/177

Series: IMF Working Papers

Author(s): Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

DOI: http://dx.doi.org/10.5089/9781451858891.001

ISBN: 9781451858891

Keywords: Liability Dollarization, Monetary Credibility, currency debt, foreign currency, domestic currency, currency composition, Financial Aspects of Economic Integration,

This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency compositio...

Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies

Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies »

Volume/Issue: 2006/88

Series: IMF Working Papers

Author(s): Enrique Mendoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451863482.001

ISBN: 9781451863482

Keywords: real exchange rate, liability dollarization, exchange rate, real exchange rates, relative price, exchange rates, International Finance: General, Open Economy Macroeconomics,

This paper shows that the dominant view that the high variability of real exchange rates is due to movements in exchange rate-adjusted prices of tradable goods does not hold for Mexican data for periods with a mana...