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Appendix I. Measurement and Accounting Issues

Appendix I. Measurement and Accounting Issues »

Source: Quasi-Fiscal Operations of Public Financial Institutions

Series: Occasional Papers

Author(s): George Mackenzie , and Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 1996

ISBN: 9781557755834

Keywords: central bank, inflation, monetary fund, central banks, exchange rate

Various problems that arise in defining QFA, and in measuring the quasi-fiscal component of the operations of central banks and other PFIs, were briefly discussed in the text, as were the difficulties that c...

Appendix II Varieties of Country Experience

Appendix II Varieties of Country Experience »

Source: Quasi-Fiscal Operations of Public Financial Institutions

Series: Occasional Papers

Author(s): George Mackenzie , and Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 1996

ISBN: 9781557755834

Keywords: central bank, inflation, monetary fund, central banks, exchange rate

This appendix describes a variety of QFAs that have been practiced in IMF member countries. Its intent is to give a flavor of the many forms that such practices can take; the countries whose experience is ci...

Appendix III Five Country Case Studies

Appendix III Five Country Case Studies »

Source: Quasi-Fiscal Operations of Public Financial Institutions

Series: Occasional Papers

Author(s): George Mackenzie , and Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 1996

ISBN: 9781557755834

Keywords: central bank, inflation, monetary fund, central banks, exchange rate

Uruguay The history of QFA in the central bank and certain other PFIs since the early 1970s 50 can be divided roughly into three periods: the first,...

I Overview

I Overview »

Source: Monetary Policy in Dollarized Economies

Series: Occasional Papers

Author(s): Adam Bennett , Eduardo Borensztein , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1999

ISBN: 9781557757579

Keywords: central bank, exchange rate, currency substitution, inflation, dollarization

Dollarization, the holding by residents of a significant share of their assets in the form of foreign-currency-denominated assets, is a common feature of developing countries and transition economies and is...

I Overview

I Overview »

Source: Moving to Greater Exchange Rate Flexibility : Operational Aspects Based on Lessons from Detailed Country Experiences

Series: Occasional Papers

Author(s): Inci Ötker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2007

ISBN: 9781589066243

Keywords: Floating exchange rates, exchange rate, inflation, monetary policy, central bank, exchange rate flexibility

Many countries moved toward more flexible exchange rate regimes over the past decade. 1 Among the factors underlying the move to greater flexibility has been the belief that more...

I Overview

I Overview »

Source: Quasi-Fiscal Operations of Public Financial Institutions

Series: Occasional Papers

Author(s): George Mackenzie , and Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 1996

ISBN: 9781557755834

Keywords: central bank, inflation, monetary fund, central banks, exchange rate

Central banks and other public financial institutions (PFIs) play an important role as agents of fiscal policy in many IMF member countries. Their activities in this guise can affect the overall public secto...

II Basic Issues

II Basic Issues »

Source: Quasi-Fiscal Operations of Public Financial Institutions

Series: Occasional Papers

Author(s): George Mackenzie , and Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 1996

ISBN: 9781557755834

Keywords: central bank, inflation, monetary fund, central banks, exchange rate

In many countries, some of the activities in which central banks and PFIs engage, as well as some of the regulatory requirements of central banks, can be said to take on a fiscal character. These quasi-fisca...

II Country Experiences with Transition to Greater Flexibility: Operational Aspects Underpinning Durable Exits

II Country Experiences with Transition to Greater Flexibility: Operational Aspects Underpinning Durable Exits »

Source: Moving to Greater Exchange Rate Flexibility : Operational Aspects Based on Lessons from Detailed Country Experiences

Series: Occasional Papers

Author(s): Inci Ötker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2007

ISBN: 9781589066243

Keywords: Floating exchange rates, exchange rate, inflation, monetary policy, central bank, exchange rate flexibility

This section brings together the experiences of six countries to extract the common elements in moving to greater flexibility. It reviews the nature and pace of the exits and the factors underlying them, the...

II Trends and Explanations

II Trends and Explanations »

Source: Monetary Policy in Dollarized Economies

Series: Occasional Papers

Author(s): Adam Bennett , Eduardo Borensztein , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1999

ISBN: 9781557757579

Keywords: central bank, exchange rate, currency substitution, inflation, dollarization

In general terms, dollarization is a response to economic instability and high inflation, and to the desire of domestic residents to diversify their asset portfolios. In conditions of hyperinflation, dollari...

III Orderly Transitions

III Orderly Transitions »

Source: Moving to Greater Exchange Rate Flexibility : Operational Aspects Based on Lessons from Detailed Country Experiences

Series: Occasional Papers

Author(s): Inci Ötker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2007

ISBN: 9781589066243

Keywords: Floating exchange rates, exchange rate, inflation, monetary policy, central bank, exchange rate flexibility

Chile (1984–99) 1 Chile’s transition to a free float was a very gradual, and mostly orderly, process that took about 15 years from the...