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I Introduction

I Introduction »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Part II provides additional details on selected countries’ experiences with the introduction of indirect instruments. It consists of seven case studies (Chile, Egypt, Ghana, Indonesia, Mexico, New Zealand, a...

II Chile

II Chile »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

The transition to indirect instruments of monetary policy in Chile started as early as 1974, as part of a broad package of economic liberalization measures. The most important reforms in the monetary policy...

II Direct and Indirect Monetary Instruments

II Direct and Indirect Monetary Instruments »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Modes of Operation In implementing monetary policy, a central bank can act in two ways: directly through its regulatory powers, or indirectly through its influence on money market co...

III Egypt

III Egypt »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Egypt’s transition to indirect instruments of monetary policy has two salient elements: pervasive distortions in the economy at the outset of the transition and a drastic improvement in expectations about th...

III Issues in the Reform of Monetary Instruments

III Issues in the Reform of Monetary Instruments »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Monetary policy is a major component of economic policy in market economies and an important part of IMF-supported adjustment programs. The central bank in most countries is assigned the primary responsibili...

Central Bank Independence
			: A Free Lunch?

Central Bank Independence : A Free Lunch? »

Volume/Issue: 1996/1

Series: IMF Working Papers

Author(s): Guy Debelle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1996

DOI: http://dx.doi.org/10.5089/9781451841589.001

ISBN: 9781451841589

Keywords: Central Banking, Monetary Policy, Inflation, central bank, inflation aversion, inflation rate

This paper extends the analysis of central bank independence to a model in which there is more than one policymaker. It shows that the degree of central bank independence as generally defined in the existing theore...

Elements of Optimal Monetary Policy Committee Design

Elements of Optimal Monetary Policy Committee Design »

Volume/Issue: 2006/277

Series: IMF Working Papers

Author(s): Jérôme Vandenbussche

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

DOI: http://dx.doi.org/10.5089/9781451865370.001

ISBN: 9781451865370

Keywords: collective decision making, inflation, central bank, monetary policy decisions, inflation targeting, Analysis Of Collective Decision-making, Monetary Policy, Central Banking, And The Supply Of Money And Credit,

The move from individual decision making to committee decision making is widely seen as a major evolution in contemporary central banking. This paper reviews the relevant economics and social psychology literatures...

Macrofinancial Modeling At Central Banks
			: Recent Developments and Future Directions

Macrofinancial Modeling At Central Banks : Recent Developments and Future Directions »

Volume/Issue: 2012/21

Series: IMF Working Papers

Author(s): Jan Vlcek , and Scott Roger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463931834.001

ISBN: 9781463931834

Keywords: Monetary policy analysis, financial frictions, macroeconomic modeling, banking, bank capital, financial stability, banking sector, interbank market, Macroeconomics: Consumption, Saving

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and finan...

6 Implications and Remedies of Central Bank Losses

6 Implications and Remedies of Central Bank Losses »

Source: The Evolving Role of Central Banks

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1991

ISBN: 9781557751850

Keywords: central bank, banking, monetary policy, national bank, inflation

A central bank should normally make a profit because it is essentially a monopolistic enterprise supplying an essential commodity—that is, currency—the demand for which is inelastic...

IV Ghana

IV Ghana »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Ghana introduced indirect monetary instruments after major reform efforts to reduce the macroeconomic imbalances and an initial period of institution building. Its experience illustrates that certain key mea...