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Aid and the Dutch Disease in Low-Income Countries

Aid and the Dutch Disease in Low-Income Countries »

Source: Aid and the Dutch Disease in Low-Income Countries : Informed Diagnoses for Prudent Prognoses

Volume/Issue: 2004/49

Series: IMF Working Papers

Author(s): Mwanza Nkusu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2004

ISBN: 9781451846874

Keywords: Exchange Rate, and Poverty, dutch disease, real exchange rate, foreign exchange, exchange rates, Economic Growth of Open Economies, Welfare and Poverty: General, Economic Growth and Aggregate Productivity: General,

This paper demonstrates that the Dutch disease need not materialize in low-income countries that can draw on their idle productive capacity to satisfy the aid-induced increased demand. Diagnoses on, and prognoses f...

Alternative Dual Exchange Market Regimes

Alternative Dual Exchange Market Regimes »

Source: Alternative Dual Exchange Market Regimes : Some Steady State Comparisons

Volume/Issue: 1990/90

Series: IMF Working Papers

Author(s): José Saúl Lizondo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1990

ISBN: 9781451951851

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

This paper compares two alternative dual exchange market regimes. In one of them, the official market clears through changes in international reserves, while in the other regime, the central bank implements a ratio...

Capital Account Liberalization and the Real Exchange Rate in Chile

Capital Account Liberalization and the Real Exchange Rate in Chile »

Source: Capital Account Liberalization and the Real Exchange Rate in Chile

Volume/Issue: 2005/132

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2005

ISBN: 9781451861518

Keywords: Capital Account Liberalization, Real Exchange Rate, Foreign Exchange Intervention, Reserve Requirements, Capital Flows, exchange rate, capital inflows, Financial Aspects of Economic Integration, International Finance Forecasting and Simulation,

After the failure of the early 1980s, a second attempt at capital account liberalization was gradually carried out in Chile during the 1990s, this time in parallel with increased exchange rate flexibility. Capital...

The Curious Case of the Yen as a Safe Haven Currency: A Forensic Analysis

The Curious Case of the Yen as a Safe Haven Currency: A Forensic Analysis »

Source: The Curious Case of the Yen as a Safe Haven Currency : A Forensic Analysis

Volume/Issue: 2013/228

Series: IMF Working Papers

Author(s): Dennis Botman , Irineu de Carvalho Filho , and Waikei Lam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2013

ISBN: 9781475513424

Keywords: Safe Haven, Yen Volatility, Derivatives, exchange rate, foreign exchange, real exchange rate, exchange rates, exchange rate movements,

During risk-off episodes, the yen is a safe haven currency and on average appreciates against the U.S. dollar. We investigate the proximate causes of yen risk-off appreciations. We find that neither capital inflows...

Determinants of Inflation, Exchange Rate, and Output in Nigeria

Determinants of Inflation, Exchange Rate, and Output in Nigeria »

Source: Determinants of Inflation, Exchange Rate, and Output in Nigeria

Volume/Issue: 1998/160

Series: IMF Working Papers

Author(s): Louis Kuijs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1998

ISBN: 9781451981735

Keywords: co-integration, exchange rate, output, foreign exchange, real exchange rate, price level

This paper presents a macroeconomic model of the Nigerian economy. The long-run relationships pertaining to the markets for money, foreign exchange, and (non-oil) output are estimated. Subsequently, dynamic equatio...

Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries

Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries »

Source: Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries

Volume/Issue: 1989/11

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1989

ISBN: 9781451925845

Keywords: exchange rate, terms of trade, foreign exchange, real exchange rates, real exchange rate

This paper develops a small analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring a nominal devaluatio...

Dollarization of Financial Intermediation

Dollarization of Financial Intermediation »

Source: Dollarization of Financial Intermediation : Causes and Policy Implications

Volume/Issue: 1998/28

Series: IMF Working Papers

Author(s): Eduardo Levy Yeyati , and Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1998

ISBN: 9781451844634

Keywords: Dollarization, financial intermediation, asset substitution, exchange rate, real exchange rate, home currency, foreign exchange

This paper presents a portfolio model of financial intermediation in which currency choice is determined by hedging decisions on both sides of a bank’s balance sheet. Minimum variance portfolio (MVP) allocat...

The Dynamics of Real Interest Rates, Real Exchange Rates and the Balance of Payments in China: 1980-2002

The Dynamics of Real Interest Rates, Real Exchange Rates and the Balance of Payments in China: 1980-2002 »

Source: The Dynamics of Real Interest Rates, Real Exchange Rates and the Balance of Payments in China : 1980-2002

Volume/Issue: 2003/67

Series: IMF Working Papers

Author(s): Zhongxia Jin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451848922

Keywords: exchange rate, foreign exchange, real exchange rate, real interest rate, exchange reserves, Econometric Methods: - Multiple/Simultaneous Equation Models, Money and Interest Rates, Macroeconomic - Aspects of Public Finance, Macroeconomic Policy, and General Outlook

Based on China's experience between 1980 and 2002, a cointegrated vector autoregression model was established to explore the relationships among real interest rates, real exchange rates and balance of payments in C...

Equilibrium Exchange Rates

Equilibrium Exchange Rates »

Source: Equilibrium Exchange Rates : Assessment Methodologies

Volume/Issue: 2007/296

Series: IMF Working Papers

Author(s): Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

ISBN: 9781451868593

Keywords: Equilibrium exchange rates, exchange rates, exchange rate, real exchange rate, real exchange rates, foreign exchange,

The paper describes six different methodologies that have been used to assess the equilibrium values of exchange rates and discusses their limitations. It applies several of the approaches to data for the United St...

Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa

Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa »

Source: Exchange Rate Policy and the Management of Official and Private Capital Flows in Africa

Volume/Issue: 2004/216

Series: IMF Working Papers

Author(s): Catherine Pattillo , Stephen O'Connell , Christopher Adam , and Edward Buffie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451875119

Keywords: Sterilization, Seigniorage, exchange rate, inflation, real exchange rate, foreign exchange, price level,

We focus on the management of highly persistent shocks to aid flows, including PRSP-related increases in net inflows, in three “post-stabilization.” African economies with de jure flexible exchange ra...