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Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen

Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen »

Source: Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen

Volume/Issue: 2007/6

Series: IMF Working Papers

Author(s): Selim Elekdag , Nabil Ben Ltaifa , Todd Schneider , and Saade Chami

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

ISBN: 9781451865707

Keywords: inflation, central bank, money demand, Fiscal and Monetary Policy in Development,

Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation...

Can Emerging Market Central Banks Bail Out Banks? A+L4848 Cautionary Tale From Latin America

Can Emerging Market Central Banks Bail Out Banks? A+L4848 Cautionary Tale From Latin America »

Source: Can Emerging Market Central Banks Bail Out Banks? A+L4848 Cautionary Tale From Latin America

Volume/Issue: 2011/258

Series: IMF Working Papers

Author(s): Luis I. Jacome H. , Tahsin Saadi Sedik , and Simon Townsend

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463923976

Keywords: banking, central bank, Financial Markets and the Macroeconomy,

This paper investigates whether developing and emerging market countries can implement monetary policies similar to those used by advanced countries during the recent global crisis - injecting significant amounts o...

Can Global Liquidity Forecast Asset Prices?1

Can Global Liquidity Forecast Asset Prices?1 »

Source: Can Global Liquidity Forecast Asset Prices?

Volume/Issue: 2010/196

Series: IMF Working Papers

Author(s): Reginald Darius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455205264

Keywords: Asset Price, Spillover Analysis, central bank, global financial crisis, private credit, Financial Markets and the Macroeconomy,

During the period leading up to the global financial crisis many asset classes registered rapid price increases. This coincided with a significant rise in global liquidity. This paper attempts to determine the exte...

Capital Flows: The Role of Bank and Nonbank Balance Sheets

Capital Flows: The Role of Bank and Nonbank Balance Sheets »

Source: Capital Flows: The Role of Bank and Nonbank Balance Sheets

Volume/Issue: 2019/85

Series: IMF Working Papers

Author(s): Yuko Hashimoto , and Signe Krogstrup

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2019

ISBN: 9781498311472

Keywords: Bank credit, Central banks, Private capital flows, Foreign currency exposure, International financial markets, foreign exposure, global factor, risk aversion, global financial crisis, forward contract

This paper assesses the role of bank and nonbank financial institutions' balance sheet foreign exposures and risk management practices in driving capital flow responses to global risk. Using a unique and previously...

Capital Inflows in the Baltic Countries, Russia, and Other Countries of the Former Soviet Union

Capital Inflows in the Baltic Countries, Russia, and Other Countries of the Former Soviet Union »

Source: Capital Inflows in the Baltic Countries, Russia, and Other Countries of the Former Soviet Union : Monetary and Prudential Issues

Volume/Issue: 1996/22

Series: IMF Working Papers

Author(s): Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1996

ISBN: 9781451921243

Keywords: inflation, central bank, monetary policy, money supply, foreign exchange

Significant capital inflows were observed during the first half of 1995 in a number of FSU countries. This paper reviews the recent experience of those countries with significant inflows, examines policy responses...

Capitalizing Central Banks

Capitalizing Central Banks »

Source: Capitalizing Central Banks : A Net Worth Approach

Volume/Issue: 2005/15

Series: IMF Working Papers

Author(s): Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

ISBN: 9781451860344

Keywords: net worth, central bank, inflation, monetary fund, market debt,

This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of "core capital" (a function of the central bank's operating expenditures...

The Case for a Long-Run Inflation Target of Four Percent

The Case for a Long-Run Inflation Target of Four Percent »

Source: The Case for a Long-Run Inflation Target of Four Percent

Volume/Issue: 2014/92

Series: IMF Working Papers

Author(s): Laurence Ball

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 June 2014

ISBN: 9781498395601

Keywords: Inflation Target, percent inflation, central bank, Monetary Policy (Targets, Instruments, and Effects),

Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to target four percent inflation. A four percent target would ease the constraints on monetary polic...

Cash Use Across Countries and the Demand for Central Bank Digital Currency

Cash Use Across Countries and the Demand for Central Bank Digital Currency »

Source: Cash Use Across Countries and the Demand for Central Bank Digital Currency

Volume/Issue: 2019/46

Series: IMF Working Papers

Author(s): Tanai Khiaonarong , and David Humphrey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2019

ISBN: 9781484399606

Keywords: Bank credit, Central banks, Central bank policy, Central bank accounting, Bank accounting, digital cash, e-money, physical cash, non-cash, giro

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC...

Central Bank Autonomy

Central Bank Autonomy »

Source: Central Bank Autonomy : Lessons from Global Trends

Volume/Issue: 2007/88

Series: IMF Working Papers

Author(s): Bernard Laurens , Martin Sommer , Marco Arnone , and Jean-François Segalotto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866520

Keywords: political autonomy, economic autonomy, central bank, monetary fund,

We calculate indexes of central bank autonomy (CBA) for 163 central banks as of end-2003, and comparable indexes for a subgroup of 68 central banks as of the end of the 1980s. The results confirm strong improvement...

Central Bank Autonomy, and Inflation and Output Performance in the Baltic States, Russia, and Other Countries of the Former Soviet Union, 1995-1997

Central Bank Autonomy, and Inflation and Output Performance in the Baltic States, Russia, and Other Countries of the Former Soviet Union, 1995-1997 »

Source: Central Bank Autonomy, and Inflation and Output Performance in the Baltic States, Russia, and Other Countries of the Former Soviet Union, 1995-1997

Volume/Issue: 1999/4

Series: IMF Working Papers

Author(s): Tonny Lybek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1999

ISBN: 9781451842029

Keywords: Central bank independence, transition economies, central bank, inflation, monetary policy, central banks, monetary fund

A higher degree of de jure autonomy and accountability of the central banks of the Baltic states, Russia, and other countries of the former Soviet Union appears to be positively correlated with lower average inflat...