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2 Adjustment and Internal-External Balance

2 Adjustment and Internal-External Balance »

Source: Macroeconomic Management : Programs and Policies

Series: Books

Author(s): Chorng-Huey Wong , Mohsin Khan , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 April 2002

ISBN: 9781589060944

Keywords: inflation, exchange rate, real exchange rate, monetary policy, exchange rates

This chapter provides a framework for determining the appropriate mix of monetary, fiscal, and exchange rate policies for correcting macroeconomic imbalances. It discusses the design of macroeconomic adjustm...

9 Assessment of the Fiscal Balance

9 Assessment of the Fiscal Balance »

Source: Macroeconomic Management : Programs and Policies

Series: Books

Author(s): Chorng-Huey Wong , Mohsin Khan , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 April 2002

ISBN: 9781589060944

Keywords: inflation, exchange rate, real exchange rate, monetary policy, exchange rates

One of the primary goals of fiscal policy is to contribute to price stabilization in the context of a sustainable balance of payments. 1 To attain this objective, public sector fi...

The Credibility Problem, EMU and Swedish Monetary Policy*

The Credibility Problem, EMU and Swedish Monetary Policy* »

Source: Optimum Currency Areas : New Analytical and Policy Developments: New Analytical and Policy Developments

Series: Books

Author(s): Leonardo Leiderman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 1997

ISBN: 9781557756527

Keywords: inflation, exchange rate, exchange rates, monetary policy, flexible exchange rates

Limited credibility increases the likelihood of financial crises, raises the employment costs of stabilization policy and the cost of capital to government, and generally reduces the allocative efficiency of...

5 Current Account Sustainability

5 Current Account Sustainability »

Source: Macroeconomic Management : Programs and Policies

Series: Books

Author(s): Chorng-Huey Wong , Mohsin Khan , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 April 2002

ISBN: 9781589060944

Keywords: inflation, exchange rate, real exchange rate, monetary policy, exchange rates

The current account of the balance of payments is an important variable for policymakers. Deficits in the external current account are the result of the accumulation of net claims of foreigners on residents....

Debt-Creating Versus Nondebt-Creating Fiscal Stabilization Policies: Ricardian Equivalence, Fiscal Stabilization, and EMU

Debt-Creating Versus Nondebt-Creating Fiscal Stabilization Policies: Ricardian Equivalence, Fiscal Stabilization, and EMU »

Source: Optimum Currency Areas : New Analytical and Policy Developments: New Analytical and Policy Developments

Series: Books

Author(s): Leonardo Leiderman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 1997

ISBN: 9781557756527

Keywords: inflation, exchange rate, exchange rates, monetary policy, flexible exchange rates

Plans to create a single European currency have generated work in many areas of economics, as researchers try to assess both the implications and advisability of this undertaking. One of these has been the o...

10 Determinants of Nominal Exchange Rates: A Survey of the Literature

10 Determinants of Nominal Exchange Rates: A Survey of the Literature »

Source: Macroeconomic Management : Programs and Policies

Series: Books

Author(s): Chorng-Huey Wong , Mohsin Khan , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 April 2002

ISBN: 9781589060944

Keywords: inflation, exchange rate, real exchange rate, monetary policy, exchange rates

Traditional models of exchange rate determination have focused on three types of explanatory variables: national price levels, interest rates, and the balance of payments. Although the perception that exchan...

3 Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence

3 Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence »

Source: Macroeconomic Management : Programs and Policies

Series: Books

Author(s): Chorng-Huey Wong , Mohsin Khan , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 April 2002

ISBN: 9781589060944

Keywords: inflation, exchange rate, real exchange rate, monetary policy, exchange rates

The IMF plays a central role in the adjustment efforts of its member countries by assisting in the design of appropriate adjustment programs to achieve viability of the balance of payments, price stability,...

EMU: Ins, Outs, and the Macroeconomic Effects Of Alternative Monetary Policy Rules*

EMU: Ins, Outs, and the Macroeconomic Effects Of Alternative Monetary Policy Rules* »

Source: Optimum Currency Areas : New Analytical and Policy Developments: New Analytical and Policy Developments

Series: Books

Author(s): Leonardo Leiderman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 1997

ISBN: 9781557756527

Keywords: inflation, exchange rate, exchange rates, monetary policy, flexible exchange rates

Most of the industrial countries of Western Europe are politically committed to strive toward a monetary union with the circulation of a common currency set to begin early in the next century. The resulting...

The Endogeneity of the Optimum Currency Area Criteria

The Endogeneity of the Optimum Currency Area Criteria »

Source: Optimum Currency Areas : New Analytical and Policy Developments: New Analytical and Policy Developments

Series: Books

Author(s): Leonardo Leiderman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 1997

ISBN: 9781557756527

Keywords: inflation, exchange rate, exchange rates, monetary policy, flexible exchange rates

Everyone studying European economic and monetary union (EMU) cites the theory of optimum currency areas (OCA): whether a country should join the currency union depends on such parameters as the extent of tra...