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Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa

Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa »

Source: Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa : What Room for Policy?

Volume/Issue: 2013/51

Series: IMF Working Papers

Author(s): Francois Boutin-Dufresne , Santiago Peña , Oral Williams , and Tomasz A. Zawisza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 2013

ISBN: 9781557753304

Keywords: Financial intermediation efficiency, net interest margins, economies of scale, institutions., banking, net interest margin, financial intermediation, financial system, Government Policy and Regulation, Financial Markets and the Macroeconomy

This paper examines the determinants of net interest margins in four regional blocks in Sub-Saharan Africa and one comparator block in the Eastern Caribbean. Using bank-level data, we find that countries with a hig...

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...

Forecasting and Monetary Policy Analysis in Low-Income Countries

Forecasting and Monetary Policy Analysis in Low-Income Countries »

Source: Forecasting and Monetary Policy Analysis in Low-Income Countries : Food and non-Food Inflation in Kenya

Volume/Issue: 2013/61

Series: IMF Working Papers

Author(s): Michal Andrle , Andrew Berg , R. Morales , Rafael Portillo , and Jan Vlcek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2013

ISBN: 9781475537444

Keywords: Low-Income Countries, inflation, central bank, relative price, relative prices, Monetary Policy (Targets, Instruments, and Effects), Forecasting and Simulation, Fiscal and Monetary Policy in Development,

We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for forecasting and monetary policy analysis in low-income countries and apply it to Kenya. We use...

Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa
			: What Room for Policy?

Benchmarking Banking Sector Efficiency Across Regional Blocks in Sub-Saharan Africa : What Room for Policy? »

Volume/Issue: 2013/51

Series: IMF Working Papers

Author(s): Francois Boutin-Dufresne , Santiago Peña , Oral Williams , and Tomasz A. Zawisza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 2013

DOI: http://dx.doi.org/10.5089/9781557753304.001

ISBN: 9781557753304

Keywords: Financial intermediation efficiency, net interest margins, economies of scale, institutions., banking, net interest margin, financial intermediation, financial system, Government Policy and Regulation, Financial Markets and the Macroeconomy

This paper examines the determinants of net interest margins in four regional blocks in Sub-Saharan Africa and one comparator block in the Eastern Caribbean. Using bank-level data, we find that countries with a hig...

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...

Forecasting and Monetary Policy Analysis in Low-Income Countries
			: Food and non-Food Inflation in Kenya

Forecasting and Monetary Policy Analysis in Low-Income Countries : Food and non-Food Inflation in Kenya »

Volume/Issue: 2013/61

Series: IMF Working Papers

Author(s): Michal Andrle , Andrew Berg , R. Morales , Rafael Portillo , and Jan Vlcek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2013

DOI: http://dx.doi.org/10.5089/9781475537444.001

ISBN: 9781475537444

Keywords: Low-Income Countries, inflation, central bank, relative price, relative prices, Monetary Policy (Targets, Instruments, and Effects), Forecasting and Simulation, Fiscal and Monetary Policy in Development,

We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for forecasting and monetary policy analysis in low-income countries and apply it to Kenya. We use...

Introducing a Semi-Structural Macroeconomic Model for Rwanda

Introducing a Semi-Structural Macroeconomic Model for Rwanda »

Volume/Issue: 2014/159

Series: IMF Working Papers

Author(s): Luisa Charry , Pranav Gupta , and Vimal Thakoor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2014

DOI: http://dx.doi.org/10.5089/9781498398343.001

ISBN: 9781498398343

Keywords: Monetary Transmission Mechanisms, inflation, real interest rate, aggregate demand, monetary fund, Forecasting and Simulation, Monetary Policy (Targets, Instruments, and Effects), Fiscal and Monetary Policy in Development,

We develop a simple semistructural model for the Rwandan economy to better understand the monetary policy transmission mechanism. A key feature of the model is the introduction of a modified uncovered interest pari...

Making Monetary Policy More Effective
			: The Case of the Democratic Republic of the Congo

Making Monetary Policy More Effective : The Case of the Democratic Republic of the Congo »

Volume/Issue: 2013/226

Series: IMF Working Papers

Author(s): Felix Fischer , Charlotte Lundgren , and Samir Jahjah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 November 2013

DOI: http://dx.doi.org/10.5089/9781475516371.001

ISBN: 9781475516371

Keywords: exchange rate regime, dedollarization, financial deepening., central bank, monetary fund, reserve requirements, Monetary Policy (Targets, Instruments, and Effects), Macroeconomic Analyses of Economic Development

The paper looks at the challenges of conducting monetary policy in a context of high dollarization of the banking system and weak institutions in the Democratic Republic of the Congo. The empirical analysis confirm...

Monetary Policy in a Developing Country
			: Loan Applications and Real Effects

Monetary Policy in a Developing Country : Loan Applications and Real Effects »

Volume/Issue: 2015/270

Series: IMF Working Papers

Author(s): Charles Abuka , Ronnie Alinda , Camelia Minoiu , José-Luis Peydró , and Andrea Presbitero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 December 2015

DOI: http://dx.doi.org/10.5089/9781513529813.001

ISBN: 9781513529813

Keywords: Monetary policy transmission, Bank lending channel, Bank balance sheet channel, Developing countries, bank, banks, credit, lending, interest, Financial Markets and the Macroeconomy

The transmission of monetary policy to credit aggregates and the real economy can be impaired by weaknesses in the contracting environment, shallow financial markets, and a concentrated banking system. We empirical...

Monetary Transmission
			: Are Emerging Market and Low Income Countries Different?

Monetary Transmission : Are Emerging Market and Low Income Countries Different? »

Volume/Issue: 2015/239

Series: IMF Working Papers

Author(s): Ales Bulir , and Jan Vlcek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2015

DOI: http://dx.doi.org/10.5089/9781513554235.001

ISBN: 9781513554235

Keywords: Monetary transmission, yield curve, interest, inflation, market, Monetary Policy (Targets, Instruments, and Effects), Asset Pricing, All Countries,

We use two alternative representations of the yield curve to test the functioning of the interest rate transmission mechanism along the yield curve based on government paper in a sample of emerging market and low-i...