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Testing for Credibility Effects

Testing for Credibility Effects »

Source: Testing for Credibility Effects

Volume/Issue: 1991/110

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor , and Mark Taylor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1991

ISBN: 9781451853254

Keywords: inflation, monetary economics, monetary policy, money supply, monetary fund

This paper examines some recent techniques designed to draw inferences about the credibility of changes in macroeconomic policy regimes. An alternative two-step approach, based on the decomposition between permanen...

International Comparisons of Money Demand

International Comparisons of Money Demand »

Source: International Comparisons of Money Demand : A Review Essay

Volume/Issue: 1992/7

Series: IMF Working Papers

Author(s): James Boughton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1992

ISBN: 9781451842357

Keywords: money demand, inflation, money balances, monetary economics

Many studies of the demand for money, covering a wide variety of economies, have demonstrated the importance of financial innovations and shifts in monetary policy regimes, but they have also illustrated the diffic...

Staff Papers Supplement Dec-84

Staff Papers Supplement Dec-84 »

Source: IMF Staff Papers Supplement

Volume: 31

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1984

ISBN: 9781451947274

Keywords: monetary fund, international economics, future, poverty, investment

...

Interest Rate Targeting in a Small Open Economy

Interest Rate Targeting in a Small Open Economy »

Source: Interest Rate Targeting in a Small Open Economy : The Predetermined Exchange Rates Case

Volume/Issue: 1990/21

Series: IMF Working Papers

Author(s): Guillermo Calvo , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1990

ISBN: 9781451921427

Keywords: inflation, monetary policy, price level, monetary economics, central bank

An important hurdle in analyzing interest rate targeting is that standard models usually lead to price level or inflation rate indeterminacy. This paper develops a simple framework in which such problems do not ari...

The Effects of Inflationon Economic Growth

The Effects of Inflationon Economic Growth »

Source: The Effects of Inflationon Economic Growth : Lessons From Latin America

Volume/Issue: 1991/95

Series: IMF Working Papers

Author(s): Jose De Gregorio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1991

ISBN: 9781451950304

Keywords: effects of inflation, high inflation, monetary economics, monetary fund

This paper investigates the relationship between inflation and long-run growth. It presents an endogenous growth model that illustrates the channels through which inflation affects growth. The model highlights the...

International Reserve Currencies

International Reserve Currencies »

Source: International Reserve Currencies

Volume/Issue: 1989/15

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1989

ISBN: 9781451923520

Keywords: inflation, monetary policy, inflation rate, foreign exchange, monetary economics

We study the composition of central bank holdings of foreign reserves when the level of currency riskiness is endogenously determined by economic structure and policymaker preferences in reserve issuing countries....

Indexation and Maturity of Government Bonds

Indexation and Maturity of Government Bonds »

Source: Indexation and Maturity of Government Bonds : A Simple Model

Volume/Issue: 1989/46

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 May 1989

ISBN: 9781451973587

Keywords: inflation, inflation tax, monetary economics, price level, monetary policy

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

The Use and Abuse of Taylor Rules

The Use and Abuse of Taylor Rules »

Source: The Use and Abuse of Taylor Rules : How Precisely Can We Estimate Them?

Volume/Issue: 2005/148

Series: IMF Working Papers

Author(s): Robert Tchaidze , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

ISBN: 9781451861679

Keywords: central bank, Taylor rules, inflation, monetary policy rules, monetary economics,

This paper draws attention to inconsistencies in estimating simple monetary policy rules and their implications for policy advice. We simulate a macroeconomic model with a backward reaction function similar to Tayl...

Optimal Monetary Policy with Overlapping Generations of Policymakers

Optimal Monetary Policy with Overlapping Generations of Policymakers »

Source: Optimal Monetary Policy with Overlapping Generations of Policymakers

Volume/Issue: 2010/32

Series: IMF Working Papers

Author(s): Maral Shamloo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962642

Keywords: Monetary Policy Committee, Commitment, Discretion, Optimal Monetary Policy, inflation, monetary authority, monetary economics,

In this paper I study the effect of imperfect central bank commitment on inflationary outcomes. I present a model in which the monetary authority is a committee that consists of members who serve overlapping, finit...

Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model

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Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model »

Source: Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model

Volume/Issue: 2019/145

Series: IMF Working Papers

Author(s): Stefan Mittnik , Willi Semmler , and Alexander Haider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2019

ISBN: 9781498320849

Keywords: climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies, environmental economics

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often ent...