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  • Keywords: Central banks and their policies x
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Assessing China's Residential Real Estate Market

Assessing China's Residential Real Estate Market »

Source: Assessing China's Residential Real Estate Market

Volume/Issue: 2017/248

Series: IMF Working Papers

Author(s): Ding Ding , Xiaoyu Huang , Tao Jin , and W. Raphael Lam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 2017

ISBN: 9781484324813

Keywords: Asia and Pacific, Macroprudential Policy, Central banks and their policies, China real estate market, housing bubbles, Monetary Policy (Targets, Instruments, and Effects), Housing Supply and Markets, Bayesian Analysis

China's real estate market rebounded sharply after a temporary slowdown in 2014-2015. This paper uses city-level data to estimate the range of house price overvaluation across city-tiers and assesses the main risks...

China's Monetary Policy Communication: Frameworks, Impact, and Recommendations

China's Monetary Policy Communication: Frameworks, Impact, and Recommendations »

Source: China's Monetary Policy Communication: Frameworks, Impact, and Recommendations

Volume/Issue: 2018/244

Series: IMF Working Papers

Author(s): Michael McMahon , Alfred Schipke , and Xiang Li

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 2018

ISBN: 9781484385647

Keywords: Financial markets, Central banks and their policies, Asia and Pacific, Monetary policy, People’;s Bank of China, Communication, Central Bank, Monetary Policy Transmission, People&;amp;#x2019;s Bank of China, Monetary Policy (Targets

Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of effective monetary policy communication will only increase as China continues to liberalize its...

Cost-Benefit Analysis of Leaning Against the Wind

Cost-Benefit Analysis of Leaning Against the Wind »

Source: Cost-Benefit Analysis of Leaning Against the Wind

Volume/Issue: 2016/3

Series: IMF Working Papers

Author(s): Lars Svensson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2016

ISBN: 9781498314787

Keywords: macroprudential policy, unemployment, unemployment rate, debt, marginal cost, benchmark, Monetary Policy (Targets, Instruments, and Effects), All Countries

“Leaning against the wind” (LAW) with a higher monetary policy interest rate may have benefits in terms of lower real debt growth and associated lower probability of a financial crisis but has costs in terms of hig...

Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency

Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency »

Source: Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency

Volume/Issue: 2018/25

Series: IMF Working Papers

Author(s): Steve Brito , Yan Carriere-Swallow , and Bertrand Gruss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2018

ISBN: 9781484339718

Keywords: Inflation targeting, Central banks and their policies, central bank transparency, inflation forecasts, Monetary Policy (Targets, Instruments, and Effects), Forecasting and Other Model Applications

We estimate the determinants of disagreement about future inflation in a large and diverse sample of countries, focusing on the role of monetary policy frameworks. We offer novel insights that allow us to reconcile...

FX Intervention in the New Keynesian Model

FX Intervention in the New Keynesian Model »

Source: FX Intervention in the New Keynesian Model

Volume/Issue: 2017/207

Series: IMF Working Papers

Author(s): Zineddine Alla , Raphael Espinoza , and Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

ISBN: 9781484320617

Keywords: Foreign exchange, Central banks and their policies, Central bank reserves; Speculative attack; Portfolio balance model; Equilibrium determinacy; Capital flows; Capital controls; Open Economy New Keynesian Model, Central bank reserves, Speculative attack, Portfolio balance model, Equilibrium determinacy, Capital flows, Capital controls, Open Economy New Keynesian Model

We develop an open economy New Keynesian Model with foreign exchange intervention in the presence of a financial accelerator mechanism. We obtain closed-form solutions for the optimal interest rate policy and FX in...

Rethinking Macro Policy II
			: Getting Granular

Rethinking Macro Policy II : Getting Granular »

Volume/Issue: 2013/3

Series: Staff Discussion Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2013

DOI: http://dx.doi.org/10.5089/9781484363478.006

ISBN: 9781484363478

Keywords: Financial stability, Fiscal consolidation, Central banks and their policies, Central banks, Capital flows, Public debt, Stabilization measures, Fiscal policy, Inflation targeting, Monetary policy

This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments in monetary policy, including unconventional measures; the challenges associ...

China's Monetary Policy Communication: Frameworks, Impact, and Recommendations

China's Monetary Policy Communication: Frameworks, Impact, and Recommendations »

Volume/Issue: 2018/244

Series: IMF Working Papers

Author(s): Michael McMahon , Alfred Schipke , and Xiang Li

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 2018

DOI: http://dx.doi.org/10.5089/9781484385647.001

ISBN: 9781484385647

Keywords: Financial markets, Central banks and their policies, Asia and Pacific, Monetary policy, People’;s Bank of China, Communication, Central Bank, Monetary Policy Transmission, People&;amp;#x2019;s Bank of China, Monetary Policy (Targets

Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of effective monetary policy communication will only increase as China continues to liberalize its...

Cost-Benefit Analysis of Leaning Against the Wind

Cost-Benefit Analysis of Leaning Against the Wind »

Volume/Issue: 2016/3

Series: IMF Working Papers

Author(s): Lars Svensson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2016

DOI: http://dx.doi.org/10.5089/9781498314787.001

ISBN: 9781498314787

Keywords: macroprudential policy, unemployment, unemployment rate, debt, marginal cost, benchmark, Monetary Policy (Targets, Instruments, and Effects), All Countries

“Leaning against the wind” (LAW) with a higher monetary policy interest rate may have benefits in terms of lower real debt growth and associated lower probability of a financial crisis but has costs in terms of hig...

Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency

Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency »

Volume/Issue: 2018/25

Series: IMF Working Papers

Author(s): Steve Brito , Yan Carriere-Swallow , and Bertrand Gruss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2018

DOI: http://dx.doi.org/10.5089/9781484339718.001

ISBN: 9781484339718

Keywords: Inflation targeting, Central banks and their policies, central bank transparency, inflation forecasts, Monetary Policy (Targets, Instruments, and Effects), Forecasting and Other Model Applications

We estimate the determinants of disagreement about future inflation in a large and diverse sample of countries, focusing on the role of monetary policy frameworks. We offer novel insights that allow us to reconcile...

FX Intervention in the New Keynesian Model

FX Intervention in the New Keynesian Model »

Volume/Issue: 2017/207

Series: IMF Working Papers

Author(s): Zineddine Alla , Raphael Espinoza , and Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

DOI: http://dx.doi.org/10.5089/9781484320617.001

ISBN: 9781484320617

Keywords: Foreign exchange, Central banks and their policies, Central bank reserves; Speculative attack; Portfolio balance model; Equilibrium determinacy; Capital flows; Capital controls; Open Economy New Keynesian Model, Central bank reserves, Speculative attack, Portfolio balance model, Equilibrium determinacy, Capital flows, Capital controls, Open Economy New Keynesian Model

We develop an open economy New Keynesian Model with foreign exchange intervention in the presence of a financial accelerator mechanism. We obtain closed-form solutions for the optimal interest rate policy and FX in...