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Lower for Longer

Lower for Longer »

Source: Lower for Longer : Neutral Rates in the United States

Volume/Issue: 2015/135

Series: IMF Working Papers

Author(s): Andrea Pescatori , and Jarkko Turunen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2015

ISBN: 9781513508382

Keywords: Neutral interest rate, output, interest, output gap, interest rates, General, Monetary Policy (Targets, Instruments, and Effects),

We use a semi structural model to estimate neutral rates in the United States. Our Bayesian estimation incorporates prior information on the output gap and potential output (based on a production function approach)...

Taylor Visits Africa*

Taylor Visits Africa* »

Source: Taylor Visits Africa

Volume/Issue: 2015/258

Series: IMF Working Papers

Author(s): Carlos Goncalves

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

ISBN: 9781513560540

Keywords: Neutral interest rates, central bank, inflation target, monetary policy, interest rates, interest, inflation, central banks, General,

Many low-income countries do not use interest rates as their main monetary policy instrument. In East Africa, for instance, targeting money aggregates has been pretty much the rule rather than the exception. Nevert...

To Cut or Not to Cut? That is the (Central Bank’s) Question In Search of the Neutral Interest Rate in Latin America1

To Cut or Not to Cut? That is the (Central Bank’s) Question In Search of the Neutral Interest Rate in Latin America1 »

Source: To Cut or Not to Cut? That is the (Central Bank's) Question In Search of the Neutral Interest Rate in Latin America

Volume/Issue: 2012/243

Series: IMF Working Papers

Author(s): Nicolas Magud , and Evridiki Tsounta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 October 2012

ISBN: 9781475512502

Keywords: central bank, neutral interest rate, monetary stance, macrorpudential policies, inflation, real interest rate, Monetary Policy (Targets, Instruments, and Effects),

This paper estimates neutral real interest rate (NRIR) ranges for 10 Latin American countries that either have full-fledged inflation targeting regimes in place or have recently adopted them, using an array of meth...

Q&A Seven Questions on Financing for Development

Q&A Seven Questions on Financing for Development »

Source: IMF Research Bulletin, September 2015

Volume: 16

Series: IMF Research Bulletin

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2015

ISBN: 9781513592428

Keywords: neutral rates; interest rates; global savings; natural resources; resource revenues; revenue management; financing for development; sustainable development goals; development assistance

The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are 'Lower for Longer: Neutral Rates in the United States' (Andrea Pescatori an...

Arnual Research Conference

Arnual Research Conference »

Source: IMF Research Bulletin, September 2015

Volume: 16

Series: IMF Research Bulletin

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2015

ISBN: 9781513592428

Keywords: neutral rates; interest rates; global savings; natural resources; resource revenues; revenue management; financing for development; sustainable development goals; development assistance

The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are 'Lower for Longer: Neutral Rates in the United States' (Andrea Pescatori an...

IMF Working Papers

IMF Working Papers »

Source: IMF Research Bulletin, September 2015

Volume: 16

Series: IMF Research Bulletin

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2015

ISBN: 9781513592428

Keywords: neutral rates; interest rates; global savings; natural resources; resource revenues; revenue management; financing for development; sustainable development goals; development assistance

The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are 'Lower for Longer: Neutral Rates in the United States' (Andrea Pescatori an...

IMF Economic Review

IMF Economic Review »

Source: IMF Research Bulletin, September 2015

Volume: 16

Series: IMF Research Bulletin

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2015

ISBN: 9781513592428

Keywords: neutral rates; interest rates; global savings; natural resources; resource revenues; revenue management; financing for development; sustainable development goals; development assistance

The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are 'Lower for Longer: Neutral Rates in the United States' (Andrea Pescatori an...

Recommended Readings from IMF Publications

Recommended Readings from IMF Publications »

Source: IMF Research Bulletin, September 2015

Volume: 16

Series: IMF Research Bulletin

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2015

ISBN: 9781513592428

Keywords: neutral rates; interest rates; global savings; natural resources; resource revenues; revenue management; financing for development; sustainable development goals; development assistance

The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are 'Lower for Longer: Neutral Rates in the United States' (Andrea Pescatori an...

A Monetary Policy Model Without Money for India1

A Monetary Policy Model Without Money for India1 »

Source: A Monetary Policy Model Without Money for India

Volume/Issue: 2010/183

Series: IMF Working Papers

Author(s): Muneesh Kapur , and Michael Patra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202171

Keywords: IS Curve, Monetary Transmission, Neutral Interest Rate, New Keynesian Model, Phillips Curve, inflation, aggregate demand, real interest rate, monetary policy reaction function, Open Economy Macroeconomics,

A New Keynesian model estimated for India yields valuable insights. Aggregate demand reacts to interest rate changes with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation...

Alternative Monetary Policy Rules for India

Alternative Monetary Policy Rules for India »

Source: Alternative Monetary Policy Rules for India

Volume/Issue: 2012/118

Series: IMF Working Papers

Author(s): Muneesh Kapur , and Michael Patra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503470

Keywords: McCallum Rule, Monetary Policy Reaction Function, Neutral Interest Rate, Taylor Rule, inflation, monetary base, monetary policy rules, central bank, Open Economy Macroeconomics,

This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the...