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Deciding to Enter a Monetary Union

Deciding to Enter a Monetary Union »

Source: Deciding to Enter a Monetary Union : TheRole of Trade and Financial Linkages

Volume/Issue: 2012/240

Series: IMF Working Papers

Author(s): Ruy Lama , and Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2012

ISBN: 9781475511437

Keywords: Trade Costs, DSGE Model, Monetary Union, intermediate goods, elasticity of substitution, nominal interest rate, Monetary Union., Monetary Policy (Targets, Instruments, and Effects)

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the...

Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?1

Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?1 »

Source: Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?

Volume/Issue: 2014/175

Series: IMF Working Papers

Author(s): Ales Bulir , Martin Cihak , and David-Jan Jansen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

ISBN: 9781498392914

Keywords: central bank communication, clarity, inflation reports, volatility, central bank, monetary policy, financial market, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, a...

The Effects of Unconventional Monetary Policies on Bank Soundness

The Effects of Unconventional Monetary Policies on Bank Soundness »

Source: The Effects of Unconventional Monetary Policies on Bank Soundness

Volume/Issue: 2014/152

Series: IMF Working Papers

Author(s): Frederic Lambert , and Kenichi Ueda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 August 2014

ISBN: 9781498363563

Keywords: Bank Profitability, Bank Risk, Balance Sheet Repair, bond, government bond, bond yield, government bond yield, bond yields, Monetary Policy (Targets, Instruments

Unconventional monetary policy is often assumed to benefit banks. However, we find little supporting evidence. Rather, we find some evidence for heightened medium-term risks. First, in an event study using a novel...

Global Food Prices and Domestic Inflation

Global Food Prices and Domestic Inflation »

Source: Global Food Prices and Domestic Inflation : Some Cross-Country Evidence

Volume/Issue: 2015/133

Series: IMF Working Papers

Author(s): Davide Furceri , Prakash Loungani , John Simon , and Susan Wachter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2015

ISBN: 9781513542973

Keywords: pass-through, food, economies, food price, General, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics,

This paper provides a broad brush look at the impact of fluctuations in global food prices on domestic inflation in a large group of countries. For advanced economies, we find that these fluctuations have played a...

Deciding to Enter a Monetary Union
			: TheRole of Trade and Financial Linkages

Deciding to Enter a Monetary Union : TheRole of Trade and Financial Linkages »

Volume/Issue: 2012/240

Series: IMF Working Papers

Author(s): Ruy Lama , and Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2012

DOI: http://dx.doi.org/10.5089/9781475511437.001

ISBN: 9781475511437

Keywords: Trade Costs, DSGE Model, Monetary Union, intermediate goods, elasticity of substitution, nominal interest rate, Monetary Union., Monetary Policy (Targets, Instruments, and Effects)

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the...

Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?

Does the Clarity of Inflation Reports Affect Volatility in Financial Markets? »

Volume/Issue: 2014/175

Series: IMF Working Papers

Author(s): Ales Bulir , Martin Cihak , and David-Jan Jansen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

DOI: http://dx.doi.org/10.5089/9781498392914.001

ISBN: 9781498392914

Keywords: central bank communication, clarity, inflation reports, volatility, central bank, monetary policy, financial market, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, a...

Global Food Prices and Domestic Inflation
			: Some Cross-Country Evidence

Global Food Prices and Domestic Inflation : Some Cross-Country Evidence »

Volume/Issue: 2015/133

Series: IMF Working Papers

Author(s): Davide Furceri , Prakash Loungani , John Simon , and Susan Wachter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2015

DOI: http://dx.doi.org/10.5089/9781513542973.001

ISBN: 9781513542973

Keywords: pass-through, food, economies, food price, General, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics,

This paper provides a broad brush look at the impact of fluctuations in global food prices on domestic inflation in a large group of countries. For advanced economies, we find that these fluctuations have played a...

Quantitative Easing and Long-Term Yields in Small Open Economies

Quantitative Easing and Long-Term Yields in Small Open Economies »

Volume/Issue: 2017/212

Series: IMF Working Papers

Author(s): Antonio Diez de los Rios , and Maral Shamloo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

DOI: http://dx.doi.org/10.5089/9781484320730.001

ISBN: 9781484320730

Keywords: Europe, Sweden, Switzerland, Central banks and their policies, United Kingdom, United States, Western Hemisphere, Unconventional monetary policy, event study, signaling

We compare the effectiveness of Federal Reserve's asset purchase programs in lowering longterm yields with that of similar programs implemented by the Bank of England, the Swedish Riksbank, and the Swiss National B...

The Effects of Unconventional Monetary Policies on Bank Soundness

The Effects of Unconventional Monetary Policies on Bank Soundness »

Volume/Issue: 2014/152

Series: IMF Working Papers

Author(s): Frederic Lambert , and Kenichi Ueda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 August 2014

DOI: http://dx.doi.org/10.5089/9781498363563.001

ISBN: 9781498363563

Keywords: Bank Profitability, Bank Risk, Balance Sheet Repair, bond, government bond, bond yield, government bond yield, bond yields, Monetary Policy (Targets, Instruments

Unconventional monetary policy is often assumed to benefit banks. However, we find little supporting evidence. Rather, we find some evidence for heightened medium-term risks. First, in an event study using a novel...

Too Cold, Too Hot, or Just Right? Assessing Financial Sector Development Across the Globe

Too Cold, Too Hot, or Just Right? Assessing Financial Sector Development Across the Globe »

Volume/Issue: 2013/81

Series: IMF Working Papers

Author(s): Adolfo Barajas , Thorsten Beck , Era Dabla-Norris , and Reza Yousefi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 March 2013

DOI: http://dx.doi.org/10.5089/9781484351086.001

ISBN: 9781484351086

Keywords: Financial Development, Financial Sector Policies, Benchmarking, financial system, financial systems, financial sector, financial reform, stock market, Financial Markets and the Macroeconomy, Monetary Policy (Targets

This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier...