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The Fiscal Abuse of Central Banks

The Fiscal Abuse of Central Banks »

Source: The Fiscal Abuse of Central Banks

Volume/Issue: 1993/58

Series: IMF Working Papers

Author(s): Maxwell Fry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1993

ISBN: 9781451966565

Keywords: central bank, inflation, monetary fund, monetary policy

This paper reviews the fiscal activities that governments in a sample of 26 developing countries have obliged their central banks to undertake. In the main, these activities fall under five categories: (1) collecti...

Testing Real Interest Parity in Emerging Markets

Testing Real Interest Parity in Emerging Markets »

Volume/Issue: 2006/249

Series: IMF Working Papers

Author(s): Abhisek Banerjee , and Manmohan Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2006

DOI: http://dx.doi.org/10.5089/9781451865097.001

ISBN: 9781451865097

Keywords: real interest parity, short-term local emerging market debt, Pesaran&;amp;#x2019;s CADF test, real interest rate, inflation, investors,

The paper finds significant deviations between short-term emerging market real interest rates and world real interest rates primarily due to the inflationary expectations of the local investor base. We test for lon...

The Fiscal Abuse of Central Banks

The Fiscal Abuse of Central Banks »

Volume/Issue: 1993/58

Series: IMF Working Papers

Author(s): Maxwell Fry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1993

DOI: http://dx.doi.org/10.5089/9781451966565.001

ISBN: 9781451966565

Keywords: central bank, inflation, monetary fund, monetary policy

This paper reviews the fiscal activities that governments in a sample of 26 developing countries have obliged their central banks to undertake. In the main, these activities fall under five categories: (1) collecti...

Testing Real Interest Parity in Emerging Markets

Testing Real Interest Parity in Emerging Markets »

Source: Testing Real Interest Parity in Emerging Markets

Volume/Issue: 2006/249

Series: IMF Working Papers

Author(s): Abhisek Banerjee , and Manmohan Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2006

ISBN: 9781451865097

Keywords: real interest parity, short-term local emerging market debt, Pesaran&;amp;#x2019;s CADF test, real interest rate, inflation, investors,

The paper finds significant deviations between short-term emerging market real interest rates and world real interest rates primarily due to the inflationary expectations of the local investor base. We test for lon...