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Achieving Stabilization in Armenia1

Achieving Stabilization in Armenia1 »

Source: Achieving Stabilization in Armenia

Volume/Issue: 1998/38

Series: IMF Working Papers

Author(s): Balázs Horváth

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1998

ISBN: 9781451845662

Keywords: transition economy, fiscal impulse, monetary impulse, currency substitution, inflation, monetary policy, inflation tax, foreign currency, foreign exchange

This paper examines the evolution, and impact on stabilization, of macroeconomic policies in Armenia during 1994-96. Fiscal and monetary policies have been effective in stabilizing the Armenian economy and facilita...

Currency Substitution in Egypt and the Yemen Arab Republic

Currency Substitution in Egypt and the Yemen Arab Republic »

Source: Currency Substitution in Egypt and the Yemen Arab Republic : A Comparative Quantitative Analysis

Volume/Issue: 1987/43

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 1987

ISBN: 9781451974898

Keywords: currency substitution, foreign currency, foreign exchange, exchange rate, inflation

The paper provides an empirical analysis of the determinants of currency substitution in Egypt and the Yemen Arab Republic over the period 1980-86. During this period, residents have exhibited a marked preference t...

Current Account Surpluses and the Interest Rate Island in Switzerland

Current Account Surpluses and the Interest Rate Island in Switzerland »

Source: Current Account Surpluses and the Interest Rate Island in Switzerland

Volume/Issue: 1995/24

Series: IMF Working Papers

Author(s): Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1995

ISBN: 9781451844085

Keywords: foreign assets, net foreign assets, foreign currency, foreign exchange, international standards

This paper describes some long-run aspects of the Swiss balance of payments, highlighting two macroeconomic phenomena that make Switzerland stand out among other countries: first, it has had a persistent current ac...

Determinants of Foreign Currency Borrowing in the New Member States of the EU

Determinants of Foreign Currency Borrowing in the New Member States of the EU »

Source: Determinants of Foreign Currency Borrowing in the New Member States of the EU

Volume/Issue: 2008/173

Series: IMF Working Papers

Author(s): Christoph Rosenberg , and Marcel Tirpák

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

ISBN: 9781451870312

Keywords: Foreign currency borrowing, new EU member states, foreign currency, exchange rate, foreign exchange, inflation, currency risk,

The paper investigates the determinants of foreign currency borrowing by the private sector in the new member states of the European Union. We find that striking differences in patterns of foreign currency borrowin...

Do Macroeconomic Effects of Capital Controls Vary by their Type? Evidence From Malaysia

Do Macroeconomic Effects of Capital Controls Vary by their Type? Evidence From Malaysia »

Source: Do Macroeconomic Effects of Capital Controls Vary by their Type? Evidence From Malaysia

Volume/Issue: 2004/3

Series: IMF Working Papers

Author(s): Natalia Tamirisa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2004

ISBN: 9781451841930

Keywords: exchange, controls, portfolio, flows, Asian crisis, capital controls, foreign currency, capital flows, foreign exchange, direct investment

This paper examines how the macroeconomic effects of capital controls vary depending on which type of international financial transaction they cover. Drawing on Malaysia's experiences in regulating the capital acco...

Dollarization in Transition Economies

Dollarization in Transition Economies »

Source: Dollarization in Transition Economies : Evidence and Policy Implications

Volume/Issue: 1995/96

Series: IMF Working Papers

Author(s): Carlos Végh Gramont , and Ratna Sahay

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1995

ISBN: 9781451950083

Keywords: dollarization, foreign currency, inflation, high inflation, foreign exchange

After most restrictions on foreign currency holdings were relaxed in the early 1990s, foreign currency deposits in transition economies have been increasing rapidly. This paper takes a first look at the evidence on...

Dollarization of the Banking System

Dollarization of the Banking System »

Source: Dollarization of the Banking System : Good or Bad?

Volume/Issue: 2003/146

Series: IMF Working Papers

Author(s): Gianni De Nicolo , Patrick Honohan , and Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451856668

Keywords: Financial Deepening, Financial Instability, inflation, foreign currency, foreign exchange, Financial Aspects of Economic Integration,

This paper assesses the benefits and risks associated with dollarization of the banking system. We provide novel empirical evidence on the determinants of dollarization, its role in promoting financial development,...

Exchange Rate Uncertainty in Money-Based Stabilization Programs1

Exchange Rate Uncertainty in Money-Based Stabilization Programs1 »

Source: Exchange Rate Uncertainty in Money-Based Stabilization Programs

Volume/Issue: 1998/3

Series: IMF Working Papers

Author(s): R. Morales

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1998

ISBN: 9781451841879

Keywords: exchange rate, real exchange rate, inflation, foreign currency, foreign exchange

Complementing the explanation provided by Calvo and Vegh (1994) for money-based stabilization programs, exchange rate uncertainty introduced to a particular version of the portfolio approach with imperfect competit...

Foreign Exchange Intervention and the Australian Dollar

Foreign Exchange Intervention and the Australian Dollar »

Source: Foreign Exchange Intervention and the Australian Dollar : Has it Mattered?

Volume/Issue: 2003/99

Series: IMF Working Papers

Author(s): Hong Liang , Paul Cashin , and Hali Edison

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

ISBN: 9781451852295

Keywords: exchange rate volatility, GARCH modeling, exchange rate, foreign currency, foreign exchange market,

Since the Australian dollar was floated in December 1983, the Australian central bank (Reserve Bank of Australia) has actively intervened in the foreign exchange market. Using daily exchange rate and official inter...

Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market

Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market »

Source: Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market : A Cape Verdean Puzzle

Volume/Issue: 1999/110

Series: IMF Working Papers

Author(s): Jan-Peter Olters

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1999

ISBN: 9781451853322

Keywords: Foreign exchange queues, black markets, unrequited transfers, foreign exchange, exchange rate, foreign currency, black market, foreign exchange market

During 1996–98, several indicators hinted at the apparent unsustainability of Cape Verde’s exchange rate peg. The country, faced with a considerable backlog of approved but unmet applications for fore...