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After the Fall

After the Fall »

Source: After the Fall : Lessons for Policy Cooperation from the Global Crisis

Volume/Issue: 2014/97

Series: IMF Working Papers

Author(s): Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2014

ISBN: 9781498375764

Keywords: Policy cooperation, institutuinal coarregements, policy spillovers, central bank, monetary fund, financial stability, monetary policies, International Monetary Arrangements and Institutions, Open Economy Macroeconomics, institutional coarrangements,

A crisis is a terrible thing to waste, and nowhere is this truer than in the arena of international economic policy cooperation. With the world facing the largest and most synchronized plunge in output of the postw...

Aid Volatility and Dutch Disease

Aid Volatility and Dutch Disease »

Source: Aid Volatility and Dutch Disease : Is There a Role for Macroeconomic Policies?

Volume/Issue: 2006/145

Series: IMF Working Papers

Author(s): Thierry Tressel , and Alessandro Prati

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

ISBN: 9781451864052

Keywords: Aid effectiveness, real exchange rate, central bank, current account, money demand, Macroeconomic Analyses of Economic Development, Fiscal and Monetary Policy in Development, Economic Growth And Aggregate Productivity,

This paper studies how macroeconomic policies can help offset two unintended and undesirable features of foreign aid: its volatility and Dutch disease. We present evidence that aid volatility augments trade balance...

Analytical and Methodological Issues in the Measurement of Fiscal Deficits

Analytical and Methodological Issues in the Measurement of Fiscal Deficits »

Source: Analytical and Methodological Issues in the Measurement of Fiscal Deficits

Volume/Issue: 1990/105

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1990

ISBN: 9781451947380

Keywords: inflation, aggregate demand, central bank, monetary fund, fiscal deficit

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

Avoiding Dark Corners

Avoiding Dark Corners »

Source: Avoiding Dark Corners : A Robust Monetary Policy Framework for the United States

Volume/Issue: 2015/134

Series: IMF Working Papers

Author(s): Ali Alichi , Kevin Clinton , Charles Freedman , Ondra Kamenik , Michel Juillard , Douglas Laxton , Jarkko Turunen , and Hou Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2015

ISBN: 9781513595702

Keywords: Optimal Control, inflation, interest, interest rate, central bank, General,

The Fed has taken several steps towards strengthening its monetary framework over the past several years. Those steps have supported the Fed's efforts to stimulate the economy through forward guidance despite being...

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 Balances and Reserve Requirements

Central Bank Balances and Reserve Requirements »

Source: Central Bank Balances and Reserve Requirements

Volume/Issue: 2011/36

Series: IMF Working Papers

Author(s): Simon Gray

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

ISBN: 9781455217908

Keywords: central bank, monetary control, remuneration of reserves, central banks, domestic currency, liquidity management,

Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved si...

Central Bank Credit to the Government

Central Bank Credit to the Government »

Source: Central Bank Credit to the Government : What Can We Learn From International Practices?

Volume/Issue: 2012/16

Series: IMF Working Papers

Author(s): Marcela Matamoros-Indorf , Mrinalini Sharma , Simon Townsend , and Luis Jácome

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463931216

Keywords: lending to the government, international practices, central bank, inflation, government securities,

Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are:...

Central Bank Independence

Central Bank Independence »

Source: Central Bank Independence : Issues and Experience

Volume/Issue: 1991/58

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1991

ISBN: 9781451966428

Keywords: central bank, inflation, price stability, monetary policy independence

There has been growing interest recently in the scope for promoting monetary stability through the establishment of independent central banks. This paper reviews the issues involved in central bank independence aga...

Central Bank Response to the 2007-08 Financial Market Turbulence

Central Bank Response to the 2007-08 Financial Market Turbulence »

Source: Central Bank Response to the 2007-08 Financial Market Turbulence : Experiences and Lessons Drawn

Volume/Issue: 2008/210

Series: IMF Working Papers

Author(s): Peter Stella , Seiichi Shimizu , Simon Gray , Ulrich Klueh , and Alexandre Chailloux

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870688

Keywords: Central bank, collateral, credit, pricing,

The paper reviews the policy response of major central banks during the 2007–08 financial market turbulence and suggests that there is scope for convergence among central bank operational frameworks through...