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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...

World Food Prices and Monetary Policy

World Food Prices and Monetary Policy »

Source: World Food Prices and Monetary Policy

Volume/Issue: 2010/161

Series: IMF Working Papers

Author(s): Roberto Chang , and Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201440

Keywords: Small Open Economy, DSGE models, inflation, terms of trade, relative price, Open Economy Macroeconomics,

The large swings in world food prices in recent years renew interest in the question of how monetary policy in small open economies should react to such imported price shocks. We examine this issue in a canonical o...

Exchange Rate Pass-Through in the Euro Area

Exchange Rate Pass-Through in the Euro Area »

Source: Exchange Rate Pass-Through in the Euro Area : The Role of Asymmetric Pricing Behavior

Volume/Issue: 2004/14

Series: IMF Working Papers

Author(s): Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2004

ISBN: 9781451843156

Keywords: New Open Economy Macroeconomic Models, exchange rate, exchange rate pass, import prices, exchange rate shock, export prices, Open Economy Macroeconomics,

Exchange rate pass-through in a set of euro area prices along the pricing chain is examined. Using a vector autoregression (VAR) approach, the empirics analyze the joint time-series behavior of the euro exchange ra...

On the Origins of the Fleming-Mundell Model

On the Origins of the Fleming-Mundell Model »

Source: On the Origins of the Fleming-Mundell Model

Volume/Issue: 2002/107

Series: IMF Working Papers

Author(s): James Boughton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2002

ISBN: 9781451852998

Keywords: Fleming, Mundell, open-economy macroeconomic models, exchange rates, exchange rate, open economy, flexible exchange rates, balance of payments, History of Thought: Individuals, Open Economy Macroeconomics,

Forty years ago, Marcus Fleming and Robert Mundell developed independent models of macroeconomic policy in open economies. Why do we link the two, and why do we call the result the Mundell-Fleming, rather than Flem...

The Dynamic Implications of Debt Relief for Low-Income Countries

The Dynamic Implications of Debt Relief for Low-Income Countries »

Source: The Dynamic Implications of Debt Relief for Low-Income Countries

Volume/Issue: 2011/157

Series: IMF Working Papers

Author(s): Ales Bulir , Alma Romero-Barrutieta , and Jose Daniel Rodríguez-Delgado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781455293711

Keywords: general equilibrium model, small open economy, debt, debt-relief, interest, relief mechanism, International Lending and Debt Problems, Open Economy Macroeconomics,

The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors and recipients. Using a dynamic stochastic general equilibrium model of a small open economy with...

A Global Projection Model for Euro Area Large Economies

A Global Projection Model for Euro Area Large Economies »

Source: A Global Projection Model for Euro Area Large Economies

Volume/Issue: 2015/50

Series: IMF Working Papers

Author(s): Zoltan Jakab , Pavel Lukyantsau , and Shengzu Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

ISBN: 9781498399609

Keywords: Global projection model, inflation, interest rate, economies, demand, exchange rate, Forecasting and Other Model Applications, Open Economy Macroeconomics,

The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. This paper creates a special version of GPM that includes the four largest Euro Area (EA) countries. The...

Challenging the Empirical Evidence From Present Value Models of the Current Account

Challenging the Empirical Evidence From Present Value Models of the Current Account »

Source: Challenging the Empirical Evidence From Present Value Models of the Current Account

Volume/Issue: 2004/106

Series: IMF Working Papers

Author(s): Jacques Miniane , and Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451852929

Keywords: present value model, model evaluation, correlation, probability, covariance, statistic, Bayesian Analysis, Model Evaluation and Selection, Open Economy Macroeconomics,

Under near-singularity conditions typically generated by persistence in current account data the predictions of present value models become extremely sensitive to small sample estimation error. Moreover, traditiona...

External Conditions and Debt Sustainability in Latin America*

External Conditions and Debt Sustainability in Latin America* »

Source: External Conditions and Debt Sustainability in Latin America

Volume/Issue: 2013/27

Series: IMF Working Papers

Author(s): Gustavo Adler , and Sebastian Sosa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2013

ISBN: 9781475588835

Keywords: debt dynamics, debt ratios, Time-Series Models, Open Economy Macroeconomics, Forecasting and Simulation, Deficit,

Highly favorable external conditions have helped Latin America strengthen its economic fundamentals over the last decade. But, has the region built enough buffers to guard itself from a weakening of the external en...

Options and Strategies for Fiscal Consolidation in India1

Options and Strategies for Fiscal Consolidation in India1 »

Source: Options and Strategies for Fiscal Consolidation in India

Volume/Issue: 2013/127

Series: IMF Working Papers

Author(s): Sampawende Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 2013

ISBN: 9781484382257

Keywords: open economy macroeconomics, DSGE models, fiscal policy, fiscal multipliers, fiscal tightening, fiscal balance, Deficit,

The paper uses a multi-region DSGE model to quantify the macroeconomic implications of three adjustment scenarios for India: growth-friendly, social-friendly, and a benchmark case centered on bringing down unproduc...

DSGE Modeling at the Fund

DSGE Modeling at the Fund »

Source: DSGE Modeling at the Fund : Applications and Further Developments

Volume/Issue: 2007/200

Series: IMF Working Papers

Author(s): Dennis Botman , David Rose , Douglas Laxton , and Philippe Karam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451867640

Keywords: Model construction, open-economy macroeconomics, international policy transmission, monetary and fiscal policies, monetary fund, inflation,

Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of...