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11 Discussant paper Comment on “The Central Bank’s Role in Debt and Reserve Management”

11 Discussant paper Comment on “The Central Bank’s Role in Debt and Reserve Management” »

Source: Challenges to Central Banking from Globalized Financial Systems

Series: Seminar Volumes

Author(s): Andrea Schaechter , Piero Ugolini , and Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2004

ISBN: 9781589062177

Keywords: inflation, monetary policy, central bank, financial stability, foreign currency

Hugo Frey Jensen’s paper provides an interesting description of the Danish system. I knew very little about Danish arrangements until I read the paper, so my own contribution focuse...

15 Discussant paper Comment on “Using Financial Soundness Indicators to Assess Risks to Financial Stability”

15 Discussant paper Comment on “Using Financial Soundness Indicators to Assess Risks to Financial Stability” »

Source: Challenges to Central Banking from Globalized Financial Systems

Series: Seminar Volumes

Author(s): Andrea Schaechter , Piero Ugolini , and Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2004

ISBN: 9781589062177

Keywords: inflation, monetary policy, central bank, financial stability, foreign currency

Craig and Sundararajan provide an excellent road map to using Financial Soundness Indicators (FSIs)—alone, in combination with other indicators, and with other methods of economic a...

6 Discussant paper How Can Monetary Policy Be Conducted in a Monetary Union?

6 Discussant paper How Can Monetary Policy Be Conducted in a Monetary Union? »

Source: Challenges to Central Banking from Globalized Financial Systems

Series: Seminar Volumes

Author(s): Andrea Schaechter , Piero Ugolini , and Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2004

ISBN: 9781589062177

Keywords: inflation, monetary policy, central bank, financial stability, foreign currency

Introduction The international financial system is undergoing a critical transition as evidenced by numerous proposals to recreate or refurbish the existing architecture. This is in...

8 Discussant paper Poland as an Example of Successful Transition From Inflation Targeting Lite to Full-Fledged Inflation Targeting

8 Discussant paper Poland as an Example of Successful Transition From Inflation Targeting Lite to Full-Fledged Inflation Targeting »

Source: Challenges to Central Banking from Globalized Financial Systems

Series: Seminar Volumes

Author(s): Andrea Schaechter , Piero Ugolini , and Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2004

ISBN: 9781589062177

Keywords: inflation, monetary policy, central bank, financial stability, foreign currency

Introduction This comment on Mark Stone’s paper, “Inflation Targeting Lite,” is from the perspective of the Polish economy. Three arguments justify such an approach. First, in the la...

3 Discussant paper The Peruvian Approach to Monetary Management in a Highly Dollarized Economy: When and Why Does It Make Sense?

3 Discussant paper The Peruvian Approach to Monetary Management in a Highly Dollarized Economy: When and Why Does It Make Sense? »

Source: Challenges to Central Banking from Globalized Financial Systems

Series: Seminar Volumes

Author(s): Andrea Schaechter , Piero Ugolini , and Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2004

ISBN: 9781589062177

Keywords: inflation, monetary policy, central bank, financial stability, foreign currency

Key Features and Implications of the Peruvian Approach The Peruvian approach to the management of monetary policy in a highly dollarized economy, as explained by Richard Webb and Adr...

17 Discussant paper The Role of Central Banks in Currency Crises, with Special Reference to Korea’s Experience in Recovering from the Currency Crisis

17 Discussant paper The Role of Central Banks in Currency Crises, with Special Reference to Korea’s Experience in Recovering from the Currency Crisis »

Source: Challenges to Central Banking from Globalized Financial Systems

Series: Seminar Volumes

Author(s): Andrea Schaechter , Piero Ugolini , and Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2004

ISBN: 9781589062177

Keywords: inflation, monetary policy, central bank, financial stability, foreign currency

General Discussion Mario Blejer has provided a very clear and informative picture of the causes of financial crises, the central bank’s role, and Argentina’s experience. My remarks c...

Domestic Petroleum Price Smoothing in Developing and Transition Countries

Domestic Petroleum Price Smoothing in Developing and Transition Countries »

Source: Domestic Petroleum Price Smoothing in Developing and Transition Countries

Volume/Issue: 2001/75

Series: IMF Working Papers

Author(s): Benedict Bingham , James Daniel , and Giulio Federico

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451849738

Keywords: petroleum prices, petroleum products, spot price, petroleum pricing, Fiscal and Monetary Policy in Development, Energy: Government Policy,

This paper examines the case for government-led smoothing of domestic petroleum prices in the face of volatile international prices. Governments in most developing and transition countries engage in petroleum price...

Efficient Arbitrage Under Financial Indexation

Efficient Arbitrage Under Financial Indexation »

Source: Efficient Arbitrage Under Financial Indexation : The Case of Chile

Volume/Issue: 1991/49

Series: IMF Working Papers

Author(s): Enrique Mendoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1991

ISBN: 9781451971668

Keywords: inflation, monetary policy, real interest rate, rational expectations, real interest rates

Legal restrictions governing financial transactions in Chile have produced a system in which most financial assets are either 30-day non-indexed assets or 90-day indexed assets. This paper analyzes data on the rate...

Establishing Initial Conditions in Support of Inflation Targeting

Establishing Initial Conditions in Support of Inflation Targeting »

Source: Establishing Initial Conditions in Support of Inflation Targeting

Volume/Issue: 2002/102

Series: IMF Working Papers

Author(s): Mark Zelmer , Andrea Schaechter , Mark Stone , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2002

ISBN: 9781451852622

Keywords: monetary policy framework, central bank, inflation, inflation-targeting, Financial Markets and the Macroeconomy,

This paper provides some practical advice on establishing initial conditions in support of an inflation-targeting monetary framework. These conditions are divided into four areas: a mandate in support of an inflati...

An Evaluation of Monetary Regime Options for Latin America

An Evaluation of Monetary Regime Options for Latin America »

Source: An Evaluation of Monetary Regime Options for Latin America

Volume/Issue: 2002/211

Series: IMF Working Papers

Author(s): Andrew Berg , Paolo Mauro , and Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451874853

Keywords: currency union, exchange rate, inflation, monetary policy, real exchange rate, International Monetary Arrangements and Institutions, Open Economy Macroeconomics,

We assess monetary regime options for Latin American countries. The costs of a common currency are likely to outweigh its benefits, as those countries face diverse economic shocks, do not trade much with each other...