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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,...

Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean1/

Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean1/ »

Source: Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean

Volume/Issue: 1995/90

Series: IMF Working Papers

Author(s): Dewitt Marston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1995

ISBN: 9781451851366

Keywords: monetary control, monetary management, foreign exchange, reserve requirements, central bank

This paper reviews the Jamaican experience with indirect instruments and contrasts this with the currency board type arrangements of the common currency area governed by the Eastern Caribbean Central Bank (ECCB). R...

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...

III Varieties and Economic Effects of Quasi-Fiscal Activities

III Varieties and Economic Effects of Quasi-Fiscal Activities »

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

The quasi-fiscal activities of a central bank stem from its roles as regulator of the exchange system and regulator of the financial system. The QFA of other PFIs takes the form of interventions in the finan...

Inflation, Credibility, and the Role of the International Monetary Fund

Inflation, Credibility, and the Role of the International Monetary Fund »

Volume/Issue: 1998/12

Series: IMF Policy Discussion Papers

Author(s): Curzio Giannini , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1998

DOI: http://dx.doi.org/10.5089/9781451969337.003

ISBN: 9781451969337

Keywords: Inflation, Fund-supported adjustment programs, Fund role, International Monetary Fund, credibility, price stability, central bank, exchange rate, current account

This paper argues that many developing countries may find it difficult to buttress disinflation programs purely through the adoption of traditional credibility-enhancing devices (such as monetary anchors and centra...

A Monetary Policy Rule for Jamaica

A Monetary Policy Rule for Jamaica »

Volume/Issue: 2005/41

Series: IMF Working Papers

Author(s): Yan Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

DOI: http://dx.doi.org/10.5089/9781451860603.001

ISBN: 9781451860603

Keywords: Monetary policy rules, inflation targeting, inflation, monetary policy rule, central bank, inflation targetting,

Since 1996, the Bank of Jamaica (BoJ) has sought to limit changes in the exchange rate for the Jamaican dollar in the context of its efforts to maintain low inflation. However, with a persistently high public secto...

Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean

Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean »

Volume/Issue: 1995/90

Series: IMF Working Papers

Author(s): Dewitt Marston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1995

DOI: http://dx.doi.org/10.5089/9781451851366.001

ISBN: 9781451851366

Keywords: monetary control, monetary management, foreign exchange, reserve requirements, central bank

This paper reviews the Jamaican experience with indirect instruments and contrasts this with the currency board type arrangements of the common currency area governed by the Eastern Caribbean Central Bank (ECCB). R...