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Achieving and Maintaining Price Stability in Nigeria

Achieving and Maintaining Price Stability in Nigeria »

Source: Achieving and Maintaining Price Stability in Nigeria

Volume/Issue: 2004/97

Series: IMF Working Papers

Author(s): Nicoletta Batini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451852059

Keywords: inflation, monetary policy, central bank, price stability, Fiscal and Monetary Policy in Development, Economywide Country Studies: Africa,

This paper reviews the historical performance of monetary policy in Nigeria and discusses the relative merits of alternative monetary policy strategies that Nigeria could adopt in the future, once the many operatio...

Alternative Monetary Policy Rules for India

Alternative Monetary Policy Rules for India »

Source: Alternative Monetary Policy Rules for India

Volume/Issue: 2012/118

Series: IMF Working Papers

Author(s): Muneesh Kapur , and Michael Patra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503470

Keywords: McCallum Rule, Monetary Policy Reaction Function, Neutral Interest Rate, Taylor Rule, inflation, monetary base, monetary policy rules, central bank, Open Economy Macroeconomics,

This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the...

Analyzing Determinants of Inflation When There Are Data Limitation

Analyzing Determinants of Inflation When There Are Data Limitation »

Source: Analyzing Determinants of Inflation When There Are Data Limitation : The Case of Sierra Leone

Volume/Issue: 2008/271

Series: IMF Working Papers

Author(s): Kadima Kalonji , Jan Gottschalk , and Ken Miyajima

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

ISBN: 9781451871296

Keywords: Historical decomposition, impulse response, variance decomposition, vector autoregression (VAR), monetary policy, central bank, aggregate demand,

This paper examines the determinants of inflation in Sierra Leone using a structural vector autoregression (VAR) approach to help forecast inflation for operational purposes. Despite data limitations, the paper acc...

The Bank of Canada's Monetary Policy Framework

The Bank of Canada's Monetary Policy Framework »

Source: The Bank of Canada's Monetary Policy Framework : Have Recent Changes Enhanced Central Bank Credibility?

Volume/Issue: 1997/171

Series: IMF Working Papers

Author(s): Takatoshi Ito , and Brenda Gonzalez-Hermosillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

ISBN: 9781451858464

Keywords: Inflation Targeting, central bank, monetary conditions, rate of inflation

In recent years the Bank of Canada has made important changes in the way it conducts monetary policy. In particular, the bank has adopted explicit inflation targets and introduced significant changes to its operati...

Bank of Japan's Quantitative and Credit Easing

Bank of Japan's Quantitative and Credit Easing »

Source: Bank of Japan's Quantitative and Credit Easing : Are they Now More Effective

Volume/Issue: 2012/2

Series: IMF Working Papers

Author(s): Ugo Fasano-Filho , Qing Wang , and Pelin Berkmen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781475502473

Keywords: Monetary Policy, conomic Activity, Inflation, price stability, monetary fund, central bank

This paper asks whether the BoJ's recent experience with unconventional monetary easing has been effective in supporting economic activity and inflation. Using a structural VAR model, the paper finds some evidence...

Broad Money Demand and Monetary Policy in Tunisia

Broad Money Demand and Monetary Policy in Tunisia »

Source: Broad Money Demand and Monetary Policy in Tunisia

Volume/Issue: 1997/22

Series: IMF Working Papers

Author(s): Volker Treichel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1997

ISBN: 9781451921250

Keywords: money supply, central bank, monetary base, money demand

The development of empirical foundations to the conduct of monetary policy in Tunisia is the central concern of this paper. Finding stable money demand functions, it broadly corroborates the choice of monetary aggr...

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...

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...

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...

Central Bank Independence

Central Bank Independence »

Source: 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

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...