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Measuring Price Competitiveness for Industrial Country Trade in Manufactures

Measuring Price Competitiveness for Industrial Country Trade in Manufactures »

Volume/Issue: 1987/34

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 April 1987

DOI: http://dx.doi.org/10.5089/9781451978704.001

ISBN: 9781451978704

Keywords: competitiveness, internal trade, trade data, aggregate trade, export markets

This paper describes the methods used by the Research Department to construct the indicators of price competitiveness, or real effective exchange rates, published for 17 industrial countries in International Financ...

Medium-Term Fiscal Multipliers during Protracted Recessions

Medium-Term Fiscal Multipliers during Protracted Recessions »

Volume/Issue: 2014/213

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , Marcos Poplawski-Ribeiro , and Ksenia Koloskova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 December 2014

DOI: http://dx.doi.org/10.5089/9781498336192.001

ISBN: 9781498336192

Keywords: fiscal consolidations, cumulative multipliers, labour market, protracted recessions, consolidations, consolidation, recessions, economy, business cycle, General,

The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted recessions (PR) in a sample of 17...

Optimal Monetary Policy with Overlapping Generations of Policymakers

Optimal Monetary Policy with Overlapping Generations of Policymakers »

Volume/Issue: 2010/32

Series: IMF Working Papers

Author(s): Maral Shamloo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

DOI: http://dx.doi.org/10.5089/9781451962642.001

ISBN: 9781451962642

Keywords: Monetary Policy Committee, Commitment, Discretion, Optimal Monetary Policy, inflation, monetary authority, monetary economics,

In this paper I study the effect of imperfect central bank commitment on inflationary outcomes. I present a model in which the monetary authority is a committee that consists of members who serve overlapping, finit...

Still Minding the Gap-Inflation Dynamics during Episodes of Persistent Large Output Gaps

Still Minding the Gap-Inflation Dynamics during Episodes of Persistent Large Output Gaps »

Volume/Issue: 2010/189

Series: IMF Working Papers

Author(s): Andre Meier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455202232.001

ISBN: 9781455202232

Keywords: Output gap, Phillips curve, Recession, inflation rates, inflation dynamics, low inflation, General Outlook and Conditions,

This paper studies inflation dynamics during 25 historical episodes in advanced economies where output remained well below potential for an extended period. We find that such episodes generally brought about signif...

Structural Reforms in Government Bond Markets

Structural Reforms in Government Bond Markets »

Volume/Issue: 1998/108

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

DOI: http://dx.doi.org/10.5089/9781451853070.001

ISBN: 9781451853070

Keywords: government debt, relationship lending, derivatives, variance ratio, bond, government bonds, stock exchange, bonds, bond yields

The paper documents institutional reforms that have taken place in the government debt markets of many industrial countries since the early 1980s, and investigates the impact of three key changes: (i) the move from...

The Inflation-Unemployment Trade-off at Low Inflation

The Inflation-Unemployment Trade-off at Low Inflation »

Volume/Issue: 2009/34

Series: IMF Working Papers

Author(s): Luca Ricci , and Pierpaolo Benigno

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451871814.001

ISBN: 9781451871814

Keywords: Phillips curve, downward nominal rigidities, wage, wage inflation, wages, low inflation,

Wage setters take into account the future consequences of their current wage choices in the presence of downward nominal wage rigidities. Several interesting implications arise. First, a closed-form solution for a...

The Information Content of Money in Forecasting Euro Area Inflation

The Information Content of Money in Forecasting Euro Area Inflation »

Volume/Issue: 2008/166

Series: IMF Working Papers

Author(s): Emil Stavrev , and Helge Berger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

DOI: http://dx.doi.org/10.5089/9781451870244.001

ISBN: 9781451870244

Keywords: Information content of money, inflation forecasting, New Keynesian model, DSGE model, P* model, Two-pillar Phillips curve, VAR model, general dynamic factor model, Bayesian estimation, aggregate demand

This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among...

Bank Behavior in Response to Basel Iii
			: A Cross-Country Analysis

Bank Behavior in Response to Basel Iii : A Cross-Country Analysis »

Volume/Issue: 2011/119

Series: IMF Working Papers

Author(s): Thomas Cosimano , and Dalia Hakura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

DOI: http://dx.doi.org/10.5089/9781455262427.001

ISBN: 9781455262427

Keywords: capital constraints, equity, capital requirements, nonperforming loans, interest expense, bank capital, Central Banking, And The Supply Of Money And Credit, financial Institutions And Services,

This paper investigates the impact of the new capital requirements introduced under the Basel III framework on bank lending rates and loan growth. Higher capital requirements, by raising banks' marginal cost of fun...

The Inflation-Unemployment Trade-off at Low Inflation

The Inflation-Unemployment Trade-off at Low Inflation »

Source: The Inflation-Unemployment Trade-off at Low Inflation

Volume/Issue: 2009/34

Series: IMF Working Papers

Author(s): Luca Ricci , and Pierpaolo Benigno

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451871814

Keywords: Phillips curve, downward nominal rigidities, wage, wage inflation, wages, low inflation,

Wage setters take into account the future consequences of their current wage choices in the presence of downward nominal wage rigidities. Several interesting implications arise. First, a closed-form solution for a...

The Information Content of Money in Forecasting Euro Area Inflation

The Information Content of Money in Forecasting Euro Area Inflation »

Source: The Information Content of Money in Forecasting Euro Area Inflation

Volume/Issue: 2008/166

Series: IMF Working Papers

Author(s): Emil Stavrev , and Helge Berger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

ISBN: 9781451870244

Keywords: Information content of money, inflation forecasting, New Keynesian model, DSGE model, P* model, Two-pillar Phillips curve, VAR model, general dynamic factor model, Bayesian estimation, aggregate demand

This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among...