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Any Link Between Legal Central Bank Independence and Inflation? Evidence from Latin America and the Caribbean

Any Link Between Legal Central Bank Independence and Inflation? Evidence from Latin America and the Caribbean »

Source: Any Link Between Legal Central Bank Independence and Inflation? Evidence from Latin America and the Caribbean

Volume/Issue: 2005/75

Series: IMF Working Papers

Author(s): Luis Jácome , and Francisco Vazquez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

ISBN: 9781451860948

Keywords: structural reform, Latin America, central bank, central banks, monetary policy, monetary fund, Latin Amercia,

This paper reviews central bank legislation in 24 countries in Latin America and the Caribbean during the 1990s. Using panel regressions, we find a negative relationship between legal central bank independence (CBI...

A Model for Financial Programming

A Model for Financial Programming »

Volume/Issue: 1998/80

Series: IMF Working Papers

Author(s): Jan Mikkelsen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1998

DOI: http://dx.doi.org/10.5089/9781451850277.001

ISBN: 9781451850277

Keywords: Financial programming, simulation models, economic growth, inflation, central bank, price level, foreign exchange, gdp deflator

This paper presents a simple simulation model that enables the formulation of a consistent growth-oriented, medium-term adjustment program. The applied version is available in Excel (using data for El Salvador) and...

Any Link Between Legal Central Bank Independence and Inflation? Evidence from Latin America and the Caribbean

Any Link Between Legal Central Bank Independence and Inflation? Evidence from Latin America and the Caribbean »

Volume/Issue: 2005/75

Series: IMF Working Papers

Author(s): Luis Jácome , and Francisco Vazquez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

DOI: http://dx.doi.org/10.5089/9781451860948.001

ISBN: 9781451860948

Keywords: structural reform, Latin America, central bank, central banks, monetary policy, monetary fund, Latin Amercia,

This paper reviews central bank legislation in 24 countries in Latin America and the Caribbean during the 1990s. Using panel regressions, we find a negative relationship between legal central bank independence (CBI...

Implementing Official Dollarization

Implementing Official Dollarization »

Volume/Issue: 2010/106

Series: IMF Working Papers

Author(s): Åke Lönnberg , and Luis Jácome

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2010

DOI: http://dx.doi.org/10.5089/9781455200658.001

ISBN: 9781455200658

Keywords: Central bank, exchange rate, inflation, domestic currency, monetary regime, central banks,

This paper identifies key aspects that countries willing to officially dollarize must necessarily address. Based on country experiences, it discusses the critical institutional bases that are necessary to unilatera...

Inflation Performance and Constitutional Central Bank Independence
			: Evidence From Latin America and the Caribbean

Inflation Performance and Constitutional Central Bank Independence : Evidence From Latin America and the Caribbean »

Volume/Issue: 2003/53

Series: IMF Working Papers

Author(s): Eva Gutierrez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

DOI: http://dx.doi.org/10.5089/9781451847406.001

ISBN: 9781451847406

Keywords: Latin American countries, central bank, monetary fund,

This paper explores the relationship between the constitutional entrenchment of central bank independence and inflation performance. Empirical studies for developing countries have not found a relationship between...

Monetary Policy Rules for Financially Vulnerable Economies

Monetary Policy Rules for Financially Vulnerable Economies »

Volume/Issue: 2003/39

Series: IMF Working Papers

Author(s): Eduardo Morón , and Diego Winkelried

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2003

DOI: http://dx.doi.org/10.5089/9781451845853.001

ISBN: 9781451845853

Keywords: Liability Dollarization, Monetary Policy Rules, exchange rate, inflation, real exchange rate, central bank, Open Economy Macroeconomics,

One distinguishable characteristic of emerging market economies is that they are not financially robust. These economies are incapable of smoothing out large external shocks, as sudden capital outflows imply large...

Money and Banking Statistics in Former Soviet Union (FSU) Economies

Money and Banking Statistics in Former Soviet Union (FSU) Economies »

Volume/Issue: 1992/103

Series: IMF Working Papers

Author(s): K. Nahr , Robert DiCalogero , and Richard Stillson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1992

DOI: http://dx.doi.org/10.5089/9781451852653.001

ISBN: 9781451852653

Keywords: central bank, banking, monetary authorities, banking system, savings bank

This paper addresses the major issues concerning the compilation of money and banking statistics for the fifteen republics of the former Soviet Union (FSU), including (1) the treatment of ruble currency circulation...

Where Did All the Aid Go? An Empirical Analysis of Absorption and Spending

Where Did All the Aid Go? An Empirical Analysis of Absorption and Spending »

Volume/Issue: 2008/34

Series: IMF Working Papers

Author(s): Shekhar Aiyar , and Ummul Hasanath Ruthbah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

DOI: http://dx.doi.org/10.5089/9781451868968.001

ISBN: 9781451868968

Keywords: Spending, Absorption, Growth, current account balance, reserve accumulation, current account, capital formation, central bank,

This paper examines the macroeconomic usage of aid using panel data for a broad sample of aid-recipients. By definition an increase in aid must go toward a reduction in the current account balance (absorbed aid), a...

Public Debt Markets in Central America, Panama, and the Dominican Republic

Public Debt Markets in Central America, Panama, and the Dominican Republic »

Volume/Issue: 2007/147

Series: IMF Working Papers

Author(s): Andreas Jobst , Laura Valderrama , Ivan Guerra , and Hemant Shah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867114.001

ISBN: 9781451867114

Keywords: public debt markets, and capital market development, public debt, debt, central bank, debt management, external debt,

This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama as at...

Spending Seigniorage
			: Do Central Banks Have a Governance Problem?

Spending Seigniorage : Do Central Banks Have a Governance Problem? »

Volume/Issue: 2006/58

Series: IMF Working Papers

Author(s): Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451863185.001

ISBN: 9781451863185

Keywords: seigniorage, expenditures, central bank, reserve accumulation, currency composition, Structure, Scope, and Performance of Government,

This paper reviews how central banks allocate seigniorage, based on systematic crosscountry comparisons of their financial accounts. Central banks are classified as weak or strong, depending upon their structural p...