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Household Consumption in Japan - Role of Income and Asset Developments

Household Consumption in Japan - Role of Income and Asset Developments »

Source: Household Consumption in Japan - Role of Income and Asset Developments

Volume/Issue: 2017/23

Series: IMF Working Papers

Author(s): Erkki Vihriälä

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2017

ISBN: 9781475573084

Keywords: Disposable income, Household consumption, Assets, Japan, Liquidity, Income, Asia and Pacific, Regression analysis, consumption determinants, income and wealth

We study Japanese household consumption at a disaggregated level focusing on the role of income and asset dynamics. Stagnation of real per capita consumption is widespread acrosslabor market groups, age groups and...

I Introduction

I Introduction »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

The purpose of this part of the study is to consider the prospects for achieving greater stability in the international monetary system. In line with a number of other recent studies,...

I Introduction

I Introduction »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Monetary, or exchange rate unions can be defined as areas within which exchange rates bear a permanently fixed relationship to each other. Without capital controls, only one monetary policy can...

II Developments in World Economy and Implications for the International Monetary System

II Developments in World Economy and Implications for the International Monetary System »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Changes in Relative Economic Size One of the most important developments in the world economy over the past 30 years has been the trend toward greater symmetry in economic size among...

II Monetary Policy Issues

II Monetary Policy Issues »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Facilitating Transactions and Ensuring Price Stability A key role of money is to facilitate transactions and thereby to increase economic efficiency relative to a situation of barter...

III Problems with Present System

III Problems with Present System »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Against the background shaped by developments in the world economy, some of the main problem areas of the international monetary system are now considered under four headings: (1) undisciplined...

III Traditional Criteria for Successful Currency Unions

III Traditional Criteria for Successful Currency Unions »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Factor Mobility The superiority of monetary exchange over barter is enhanced by widening the domain over which any single currency can be utilized. Nevertheless, as Mundell (1961) po...

Inflation-Forecast Targeting for India
			: An Outline of the Analytical Framework

Inflation-Forecast Targeting for India : An Outline of the Analytical Framework »

Volume/Issue: 2017/32

Series: IMF Working Papers

Author(s): Jaromir Benes , Kevin Clinton , Asish George , Joice John , Ondra Kamenik , Douglas Laxton , Pratik Mitra , G.V. Nadhanael , Hou Wang , and Fan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2017

DOI: http://dx.doi.org/10.5089/9781475578690.001

ISBN: 9781475578690

Keywords: Asia and Pacific, Disinflation, India, Inflation targeting, Forecasting models, Monetary policy, Price stabilization, Central banks and their policies, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper d...

Quarterly Projection Model for India
			: Key Elements and Properties

Quarterly Projection Model for India : Key Elements and Properties »

Volume/Issue: 2017/33

Series: IMF Working Papers

Author(s): Jaromir Benes , Kevin Clinton , Asish George , Pranav Gupta , Joice John , Ondra Kamenik , Douglas Laxton , Pratik Mitra , G.V. Nadhanael , Rafael Portillo , Hou Wang , and Fan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2017

DOI: http://dx.doi.org/10.5089/9781475578706.001

ISBN: 9781475578706

Keywords: Central banks and their policies, Monetary policy, Monetary transmission mechanism, Interest rate policy, Forecasting models, Inflation targeting, India, Asia and Pacific, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India

This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating for...

The Impact of Demographics on Productivity and Inflation in Japan

The Impact of Demographics on Productivity and Inflation in Japan »

Volume/Issue: 2016/237

Series: IMF Working Papers

Author(s): Niklas Westelius , and Yihan Liu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 December 2016

DOI: http://dx.doi.org/10.5089/9781475559712.001

ISBN: 9781475559712

Keywords: Total factor productivity, Population growth, Demographic transition, Inflation, Japan, Asia and Pacific, Aging, and Productivity, Productivity, Demographic Trends and Forecasts

Is Japan's aging and, more recently, declining population hampering growth and reflation efforts? Exploiting demographic and economic variation in prefectural data between 1990 and 2007, we find that aging of the w...