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Inflation Targeting and the Unemployment-Inflation Trade-off

Inflation Targeting and the Unemployment-Inflation Trade-off »

Volume/Issue: 2001/166

Series: IMF Working Papers

Author(s): Chorng-Huey Wong , Eric Clifton , and Gene Leon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

DOI: http://dx.doi.org/10.5089/9781451858105.001

ISBN: 9781451858105

Keywords: inflation targeting, credibility, Phillips curve, smooth transition regression models, inflation, central bank, monetary fund, General Aggregative Models: Forecasting and Simulation, Inflation Targeting Credibility,

This paper examines the impact of the introduction of inflation targeting on the unemployment-inflation trade-off in OECD countries. Theoretical models suggest that the credibility-enhancing effects of the adoption...

Migration and Pension

Migration and Pension »

Volume/Issue: 1998/165

Series: IMF Working Papers

Author(s): Efraim Sadka , and Assaf Razin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

DOI: http://dx.doi.org/10.5089/9781451980011.001

ISBN: 9781451980011

Keywords: Low Skilled Migrants, Pay-As-You-Go Pension, Heterogenous Population, Overlapping Generations, migration, pension, pension system, pension benefit, retirement

Migrants, being relatively low earners, are net beneficiaries of the welfare state. However, this paper uses a dynamic model to show that because of migrants’ positive influence on the pension system, which...

Sticky Exchange Rates and Flexible Prices
			: A Heretic View From the Interwar Period

Sticky Exchange Rates and Flexible Prices : A Heretic View From the Interwar Period »

Volume/Issue: 1991/124

Series: IMF Working Papers

Author(s): Anne Gulde , and Holger Wolf

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1991

DOI: http://dx.doi.org/10.5089/9781451937855.001

ISBN: 9781451937855

Keywords: exchange rates, exchange rate, real exchange rate, exchange rate variability, flexible exchange rates

Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with s...

What Determines Government  Spending Multipliers?

What Determines Government Spending Multipliers? »

Volume/Issue: 2012/150

Series: IMF Working Papers

Author(s): Gernot Müller , Andre Meier , and Giancarlo Corsetti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504217.001

ISBN: 9781475504217

Keywords: Multiplier, public finances, exchange rate regime, exchange rate, real exchange rate, Open Economy Macroeconomics,

This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their...

IMF Working Papers

IMF Working Papers »

Source: IMF Staff papers : Volume 44 No. 1

Volume: 44

Series: IMF Staff Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1997

ISBN: 9781451957112

Keywords: labor market, unemployment rate, labor market policies, unemployment benefits, unemployed

This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation....

Fiscal Adjustments
			: Determinants and Macroeconomic Consequences

Fiscal Adjustments : Determinants and Macroeconomic Consequences »

Volume/Issue: 2007/178

Series: IMF Working Papers

Author(s): Alexander Plekhanov , Manmohan Kumar , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867428.001

ISBN: 9781451867428

Keywords: non-Ricardian model, expenditure, fiscal consolidations,

The paper analyzes the determinants of success of recent fiscal consolidations in the OECD countries as well as the short-run and long-run effects of fiscal adjustments on economic activity by looking at fourteen c...

Inflation Targeting and the Unemployment-Inflation Trade-off

Inflation Targeting and the Unemployment-Inflation Trade-off »

Source: Inflation Targeting and the Unemployment-Inflation Trade-off

Volume/Issue: 2001/166

Series: IMF Working Papers

Author(s): Chorng-Huey Wong , Eric Clifton , and Gene Leon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451858105

Keywords: inflation targeting, credibility, Phillips curve, smooth transition regression models, inflation, central bank, monetary fund, General Aggregative Models: Forecasting and Simulation, Inflation Targeting Credibility,

This paper examines the impact of the introduction of inflation targeting on the unemployment-inflation trade-off in OECD countries. Theoretical models suggest that the credibility-enhancing effects of the adoption...

3 Lessons and Elements of Best Practice

3 Lessons and Elements of Best Practice »

Source: Systemic Bank Restructuring and Macroeconomic Policy

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 August 1997

ISBN: 9781557756657

Keywords: banking, bank restructuring, central bank, recapitalization, banking system

Chapter 3 provides background material for Chapters 1 and 2. It analyzes the experiences of selected countries that have undertaken systemic bank restructuring in recent years, with a view to dr...

1 Macroeconomic Impact and Policy Response

1 Macroeconomic Impact and Policy Response »

Source: Systemic Bank Restructuring and Macroeconomic Policy

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 August 1997

ISBN: 9781557756657

Keywords: banking, bank restructuring, central bank, recapitalization, banking system

In a generally healthy and well-regulated banking system, individual banks can and usually should be allowed to fail. Allowing market discipline and supervisory intervention to weed out weak institutions min...

Migration and Pension1

Migration and Pension1 »

Source: Migration and Pension

Volume/Issue: 1998/165

Series: IMF Working Papers

Author(s): Efraim Sadka , and Assaf Razin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451980011

Keywords: Low Skilled Migrants, Pay-As-You-Go Pension, Heterogenous Population, Overlapping Generations, migration, pension, pension system, pension benefit, retirement

Migrants, being relatively low earners, are net beneficiaries of the welfare state. However, this paper uses a dynamic model to show that because of migrants’ positive influence on the pension system, which...