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Exchange Rate Appreciation As a Signal of a New Policy Stance

Exchange Rate Appreciation As a Signal of a New Policy Stance »

Source: Exchange Rate Appreciation As a Signal of a New Policy Stance

Volume/Issue: 1991/32

Series: IMF Working Papers

Author(s): Georg Winckler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1991

ISBN: 9781451845068

Keywords: exchange rate, central bank, inflation, real exchange rate, exchange rate commitment

It is shown in a game theoretic framework that it may pay off to signal a “conservative” policy stance--giving a high priority to price stability--by appreciating the exchange rate. Such an appreciati...

Exchange Rate Appreciation As a Signal of a New Policy Stance

Exchange Rate Appreciation As a Signal of a New Policy Stance »

Volume/Issue: 1991/32

Series: IMF Working Papers

Author(s): Georg Winckler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1991

DOI: http://dx.doi.org/10.5089/9781451845068.001

ISBN: 9781451845068

Keywords: exchange rate, central bank, inflation, real exchange rate, exchange rate commitment

It is shown in a game theoretic framework that it may pay off to signal a “conservative” policy stance--giving a high priority to price stability--by appreciating the exchange rate. Such an appreciati...

Monetary Policy Under EMU
			: Differences in the Transmission Mechanism?

Monetary Policy Under EMU : Differences in the Transmission Mechanism? »

Volume/Issue: 2001/102

Series: IMF Working Papers

Author(s): Benedict Clements , Zenon Kontolemis , and Joaquim Levy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

DOI: http://dx.doi.org/10.5089/9781451852615.001

ISBN: 9781451852615

Keywords: Transmission Mechanism, inflation, monetary transmission, central bank, monetary transmission mechanism, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation, Monetary Policy, Central Banking

This study identifies differences in the monetary policy transmission mechanism across the countries in the euro area. It is argued that part of the differences in the response of economic activity to monetary poli...

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability »

Volume/Issue: 2012/33

Series: IMF Working Papers

Author(s): Keith Kuester , Gernot Mueller , Giancarlo Corsetti , and Andre Meier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463933180.001

ISBN: 9781463933180

Keywords: zero lower bound, government spending, spending cuts, central bank, inflation,

This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a "sovereign ris...

The Transmission Mechanism of European Monetary Policy
			: Is There Heterogeneity? Is it Changing over Time?

The Transmission Mechanism of European Monetary Policy : Is There Heterogeneity? Is it Changing over Time? »

Volume/Issue: 2002/54

Series: IMF Working Papers

Author(s): Matteo Ciccarelli , and Alessandro Rebucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

DOI: http://dx.doi.org/10.5089/9781451847529.001

ISBN: 9781451847529

Keywords: Bayesian estimation, European monetary policy, Gibbs sampling, Heterogeneity, Transmission mechanism, inflation, central bank, monetary transmission, Multiple or Simultaneous Equation Models: Models with Panel Data, Bayesian Analysis

This paper investigates the transmission mechanism of monetary policy in the four largest euro area countries by means Bayesian estimation of dynamic econometric models. Based on pre-EMU evidence from Germany, Fran...

The Measurement of Central Bank Autonomy
			: Survey of Models, Indicators, and Empirical Evidence

The Measurement of Central Bank Autonomy : Survey of Models, Indicators, and Empirical Evidence »

Volume/Issue: 2006/227

Series: IMF Working Papers

Author(s): Bernard Laurens , Marco Arnone , and Jean-François Segalotto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

DOI: http://dx.doi.org/10.5089/9781451864878.001

ISBN: 9781451864878

Keywords: political autonomy, economic autonomy, central bank, price stability, inflation performance,

This paper presents a survey of the literature on the measurement of central bank autonomy. We distinguish inputs that constitute the building blocks in the literature, and the literature that builds on them. Issue...

The Measurement of Central Bank Autonomy

The Measurement of Central Bank Autonomy »

Source: The Measurement of Central Bank Autonomy : Survey of Models, Indicators, and Empirical Evidence

Volume/Issue: 2006/227

Series: IMF Working Papers

Author(s): Bernard Laurens , Marco Arnone , and Jean-François Segalotto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

ISBN: 9781451864878

Keywords: political autonomy, economic autonomy, central bank, price stability, inflation performance,

This paper presents a survey of the literature on the measurement of central bank autonomy. We distinguish inputs that constitute the building blocks in the literature, and the literature that builds on them. Issue...

Monetary Policy Under EMU

Monetary Policy Under EMU »

Source: Monetary Policy Under EMU : Differences in the Transmission Mechanism?

Volume/Issue: 2001/102

Series: IMF Working Papers

Author(s): Benedict Clements , Zenon Kontolemis , and Joaquim Levy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

ISBN: 9781451852615

Keywords: Transmission Mechanism, inflation, monetary transmission, central bank, monetary transmission mechanism, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation, Monetary Policy, Central Banking

This study identifies differences in the monetary policy transmission mechanism across the countries in the euro area. It is argued that part of the differences in the response of economic activity to monetary poli...

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability »

Source: Sovereign Risk, Fiscal Policy, and Macroeconomic Stability

Volume/Issue: 2012/33

Series: IMF Working Papers

Author(s): Keith Kuester , Gernot Mueller , Giancarlo Corsetti , and Andre Meier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463933180

Keywords: zero lower bound, government spending, spending cuts, central bank, inflation,

This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a "sovereign ris...

The Transmission Mechanism of European Monetary Policy

The Transmission Mechanism of European Monetary Policy »

Source: The Transmission Mechanism of European Monetary Policy : Is There Heterogeneity? Is it Changing over Time?

Volume/Issue: 2002/54

Series: IMF Working Papers

Author(s): Matteo Ciccarelli , and Alessandro Rebucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451847529

Keywords: Bayesian estimation, European monetary policy, Gibbs sampling, Heterogeneity, Transmission mechanism, inflation, central bank, monetary transmission, Multiple or Simultaneous Equation Models: Models with Panel Data, Bayesian Analysis

This paper investigates the transmission mechanism of monetary policy in the four largest euro area countries by means Bayesian estimation of dynamic econometric models. Based on pre-EMU evidence from Germany, Fran...