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Challenges for Central Banking
			: Perspectives from Latin America

Challenges for Central Banking : Perspectives from Latin America »

Series: Books

Author(s): Luis I. Jacome H. , Yan Carriere-Swallow , Hamid Faruqee , and Krishna Srinivasan

Publisher: China Financial Publishing House (CFPH)

Publication Date: 05 October 2018

Language: Chinese

DOI: http://dx.doi.org/10.5089/9787504994806.071

ISBN: 9787504994806

Keywords: central banking, Latin America, monetary independence, economic integration, term premium, monetary policy, forward guidance, macroprudential policies, monetary frameworks, reserve requirements

In the wake of the 2008-09 global financial crisis, central banking and monetary policy in many corners of the world came under intense pressure and entered unchartered waters. The breadth and scale of central ban...

Challenges for Central Banking
			: Perspectives from Latin America

Challenges for Central Banking : Perspectives from Latin America »

Series: Books

Author(s): Luis I. Jacome H. , Yan Carriere-Swallow , Hamid Faruqee , and Krishna Srinivasan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2016

DOI: http://dx.doi.org/10.5089/9781513591766.071

ISBN: 9781513591766

Keywords: central banking, Latin America, monetary independence, economic integration, term premium, monetary policy, forward guidance, macroprudential policies, monetary frameworks, reserve requirements

In the wake of the 2008-09 global financial crisis, central banking and monetary policy in many corners of the world came under intense pressure and entered unchartered waters. The breadth and scale of central ban...

Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy

Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy »

Source: Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy

Volume/Issue: 2018/242

Series: IMF Working Papers

Author(s): Mitsuru Katagiri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 November 2018

ISBN: 9781484382370

Keywords: Term premiums, Phillips curve, Low-for-long, Monetary Policy (Targets, Instruments, and Effects), Asset Pricing

Upward sloping yield curves are hard to reconcile with the positive association between income and inflation (the Phillips curve) in consumption-based asset pricing models. Using US and UK data, this paper shows in...

A Macroeconomic Approach to the Term Premium

A Macroeconomic Approach to the Term Premium »

Source: A Macroeconomic Approach to the Term Premium

Volume/Issue: 2018/140

Series: IMF Working Papers

Author(s): Emanuel Kopp , and Peter Williams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2018

ISBN: 9781484362150

Keywords: United States, Western Hemisphere, term structure of interest rates, term premium, yield curve, State Space, General, Externalities, Asymmetric and Private Information

In recent years, term premia have been very low and sometimes even negative. Now, with the United States economy growing above potential, inflationary pressures are on the rise. Term premia are very sensitive to th...

Global Factors in the Term Structure of Interest Rates

Global Factors in the Term Structure of Interest Rates »

Source: Global Factors in the Term Structure of Interest Rates

Volume/Issue: 2013/223

Series: IMF Working Papers

Author(s): Mirko Abbritti , Salvatore Dell'Erba , Antonio Moreno , and Sergio Sola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 November 2013

ISBN: 9781475513516

Keywords: Yield Curve, Global Factors, FAVAR, Affine Term Structure Models, Term Premium, inflation, monetary economics, expansionary monetary policy, monetary policies, Time-Series Models

This paper introduces global factors within a FAVAR framework in an empirical affine term structure model. We apply our method to a panel of international yield curves and show that global factors account for more...

Fiscal Rules and the Sovereign Default Premium

Fiscal Rules and the Sovereign Default Premium »

Source: Fiscal Rules and the Sovereign Default Premium

Volume/Issue: 2012/30

Series: IMF Working Papers

Author(s): Juan Carlos Hatchondo , Francisco Roch , and Leonardo Martinez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463933159

Keywords: debt ceiling, sovereign default premium, debt exchange, countercyclical policy, endogenous borrowing constraints, long-term debt, debt, interest, fiscal rule, International Lending and Debt Problems

This paper finds optimal fiscal rule parameter values and measures the effects of imposing fiscal rules using a default model calibrated to an economy that in the absence of a fiscal rule pays a significant soverei...

Uphill Capital Flows and the International Monetary System†

Uphill Capital Flows and the International Monetary System† »

Source: Uphill Capital Flows and the International Monetary System

Volume/Issue: 2017/174

Series: IMF Working Papers

Author(s): Balazs Csonto , and Camilo Tovar Mora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 July 2017

ISBN: 9781484311424

Keywords: International financial markets, Central banks and their policies, Uphill capital flows, yield curve, term premium, US Treasuries, reserve accumulation, foreign holdings, Financial Markets and the Macroeconomy, International Policy Coordination and Transmission

Uphill capital flows constitute a key transmission channel through which reserve accumulation can distort the stability of the international monetary system. This paper examines and quantifies the importance of thi...

Part I: Progress and Challenges

Part I: Progress and Challenges »

Source: Challenges for Central Banking : Perspectives from Latin America

Series: Books

Author(s): Luis I. Jacome H. , Yan Carriere-Swallow , Hamid Faruqee , and Krishna Srinivasan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2016

ISBN: 9781513591766

Keywords: central banking, Latin America, monetary independence, economic integration, term premium, monetary policy, forward guidance, macroprudential policies, monetary frameworks, reserve requirements

...

Part II: Monetary Independence in an Integrated World

Part II: Monetary Independence in an Integrated World »

Source: Challenges for Central Banking : Perspectives from Latin America

Series: Books

Author(s): Luis I. Jacome H. , Yan Carriere-Swallow , Hamid Faruqee , and Krishna Srinivasan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2016

ISBN: 9781513591766

Keywords: central banking, Latin America, monetary independence, economic integration, term premium, monetary policy, forward guidance, macroprudential policies, monetary frameworks, reserve requirements

...

Part III: Macroprudential Policies and Monetary Frameworks

Part III: Macroprudential Policies and Monetary Frameworks »

Source: Challenges for Central Banking : Perspectives from Latin America

Series: Books

Author(s): Luis I. Jacome H. , Yan Carriere-Swallow , Hamid Faruqee , and Krishna Srinivasan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2016

ISBN: 9781513591766

Keywords: central banking, Latin America, monetary independence, economic integration, term premium, monetary policy, forward guidance, macroprudential policies, monetary frameworks, reserve requirements

...