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Dominant Currency Paradigm: A New Model for Small Open Economies*

Dominant Currency Paradigm: A New Model for Small Open Economies* »

Source: Dominant Currency Paradigm: A New Model for Small Open Economies

Volume/Issue: 2017/264

Series: IMF Working Papers

Author(s): Camila Casas , Federico Diez , Gita Gopinath , and Pierre-Olivier Gourinchas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 November 2017

ISBN: 9781484330173

Keywords: Small open economies, Currency, General

Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer's currency or in local currency. We model instead a ‘dominant currency pa...

Explaining the Exchange Rate Pass-Through in Different Prices

Explaining the Exchange Rate Pass-Through in Different Prices »

Source: Explaining the Exchange Rate Pass-Through in Different Prices

Volume/Issue: 2002/224

Series: IMF Working Papers

Author(s): Hamid Faruqee , Dalia Hakura , and Ehsan Choudhri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451875331

Keywords: New open economy macroeconomic models, exchange rate, exchange rate shock, exchange rate pass, open economy, import prices, Open Economy Macroeconomics,

This paper examines the performance of different new open economy macroeconomic models in explaining the exchange rate pass-through in a wide range of prices. Quantitative versions of different models are used to d...

Imperfect Capital Mobility in an Open Economy Model of Capital Accumulation

Imperfect Capital Mobility in an Open Economy Model of Capital Accumulation »

Source: Imperfect Capital Mobility in an Open Economy Model of Capital Accumulation

Volume/Issue: 2004/31

Series: IMF Working Papers

Author(s): Vladimir Klyuev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451845051

Keywords: Real exchange rate, capital mobility, capital market, open economy, Open Economy Macroeconomics, Economic Growth of Open Economies,

This paper introduces a tractable capital market friction mechanism that allows a break of the parity between domestic and external interest rates and generates a gradual evolution of capital stock and other macroe...

The Effectiveness of Monetary Policy in Small Open Economies

The Effectiveness of Monetary Policy in Small Open Economies »

Source: The Effectiveness of Monetary Policy in Small Open Economies : An Empirical Investigation

Volume/Issue: 2016/189

Series: IMF Working Papers

Author(s): Keyra Primus

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2016

ISBN: 9781475536874

Keywords: Reserve Requirements, Macroeconometric Model, Small Open Economies

This paper examines the relative effectiveness of the use of indirect and direct monetary policy instruments in Barbados, Jamaica and Trinidad and Tobago, by estimating a restricted Vector Autoregressive model with...

How Do Banking Crises Affect Bilateral Exports?

How Do Banking Crises Affect Bilateral Exports? »

Source: How Do Banking Crises Affect Bilateral Exports?

Volume/Issue: 2013/150

Series: IMF Working Papers

Author(s): Youssouf Kiendrebeogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2013

ISBN: 9781475576276

Keywords: banking, financial crisis, Open Economy Macroeconomics,

This paper investigates whether banking crises are associated with declines in bilateral exports. We first develop a simple open economy model in which banking crises translate into negative liquidity shocks, leadi...

La conditionnanté au Fonds monétaire international
			: Evolution des principes et des pratiques

La conditionnanté au Fonds monétaire international : Evolution des principes et des pratiques »

Series: Pamphlet Series

Author(s): Manuel Guitián

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1981

Language: French

DOI: http://dx.doi.org/10.5089/9781451964264.054

ISBN: 9781451964264

Keywords: balance of payments, monetary fund, aggregate demand, inflation, adjustment process, world economy, monetary policy, monetary theory, monetary approach, price stability

This paper examines the principles and practices of conditionality as they have evolved and as they are currently applied. The paper discusses the rationale of the concept of conditionality and brings out its theor...

Dollarization, Monetary Policy, and the Pass-Through

Dollarization, Monetary Policy, and the Pass-Through »

Source: Dollarization, Monetary Policy, and the Pass-Through

Volume/Issue: 2002/188

Series: IMF Working Papers

Author(s): Alain Ize , and Eric Parrado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2002

ISBN: 9781451859577

Keywords: optimal monetary policy, small open economy, inflation, monetary authorities, Open Economy Macroeconomics,

This paper explores how real dollarization (dollar indexing of wages), financial dollarization (dollar denomination of financial contracts), and monetary policy interact in a general equilibrium, new open-economy m...

How Much Do Trading Partners Matter for Economic Growth?

How Much Do Trading Partners Matter for Economic Growth? »

Source: How Much Do Trading Partners Matter for Economic Growth?

Volume/Issue: 2004/26

Series: IMF Working Papers

Author(s): Vivek Arora , and Athanasios Vamvakidis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451844412

Keywords: trading partners, trading partner, trade share, open economies, partner countries, Economic Growth of Open Economies,

This paper empirically examines the extent to which a country's economic growth is influenced by its trading partner economies. Panel estimation results based on four decades of data for over 100 countries show tha...

Inflation Targeting and Exchange Rate Rules in an Open Economy

Inflation Targeting and Exchange Rate Rules in an Open Economy »

Source: Inflation Targeting and Exchange Rate Rules in an Open Economy

Volume/Issue: 2004/21

Series: IMF Working Papers

Author(s): Eric Parrado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451921892

Keywords: open economy, monetary policy rules, inflation, central bank, aggregate demand, Open Economy Macroeconomics,

This paper provides a simple dynamic neo-Keynesian model that can be used to analyze the impact of monetary policy that considers inflation targeting in a small open economy. This economy is characterized by imperf...

The Implications of Trade Barriers for Sectoral Diversification and Macroeconomic Stability in Developing Economies

The Implications of Trade Barriers for Sectoral Diversification and Macroeconomic Stability in Developing Economies »

Source: The Implications of Trade Barriers for Sectoral Diversification and Macroeconomic Stability in Developing Economies

Volume/Issue: 2006/50

Series: IMF Working Papers

Author(s): Gabriel Srour

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2006

ISBN: 9781451863109

Keywords: diversification, trade barriers, elasticity of substitution, open economy, Open Economy Macroeconomics,

The paper examines the implications of lower trade barriers for sectoral diversification and macroeconomic stability in developing economies with a large primary goods sector. It shows that lower trade barriers can...