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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...

Angola's Fragile Stabilization

Angola's Fragile Stabilization »

Source: Angola's Fragile Stabilization

Volume/Issue: 2004/83

Series: IMF Working Papers

Author(s): Jose Gasha , and Gonzalo Pastor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2004

ISBN: 9781451850574

Keywords: monetary and exchange rate policy, inflation, foreign exchange, exchange rate, inflation rate, nominal exchange rate, Studies of Particular Policy Episodes,

This paper discusses the nature of Angola's disinflation strategy in recent years, with special emphasis on the most recent efforts by the Angolan authorities to stabilize the economy. Looking to the past, the pape...

The Asymmetric Effects of Exchange Rate Fluctuations

The Asymmetric Effects of Exchange Rate Fluctuations »

Source: The Asymmetric Effects of Exchange Rate Fluctuations : Theory and Evidence From Developing Countries

Volume/Issue: 2000/184

Series: IMF Working Papers

Author(s): Magda Kandil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2000

ISBN: 9781451859355

Keywords: Exchange rate, rational expectations, asymmetric fluctuations, inflation, price inflation, real output

The paper examines the asymmetric effects of exchange rate fluctuations on real output and price in developing countries. The theoretical model decomposes movements in the exchange rate into anticipated and unantic...

Balance of Payments Anti-Crises

Balance of Payments Anti-Crises »

Source: Balance of Payments Anti-Crises

Volume/Issue: 2009/134

Series: IMF Working Papers

Author(s): Isabel Yan , and Michael Kumhof

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

ISBN: 9781451872811

Keywords: Balance of payments anti-crises, inflation dynamics, foreign exchange, exchange rate, inflation targeting,

Several emerging economies have, until recently, experienced large government surpluses and accelerating foreign exchange reserve accumulation. This has been accompanied by economic booms, exchange rate appreciatio...

Balance of Payments Crises Under Inflation Targeting

Balance of Payments Crises Under Inflation Targeting »

Source: Balance of Payments Crises Under Inflation Targeting

Volume/Issue: 2007/84

Series: IMF Working Papers

Author(s): Shujing Li , Isabel Yan , and Michael Kumhof

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866483

Keywords: Balance of payments crisis, exchange rate targeting, flow speculative attack, inflation, exchange rate,

This paper analyzes a small open economy model under inflation targeting. It shows why such a monetary regime is vulnerable to speculative attacks that take place over a short period rather than instantaneously. Th...

The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies

The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies »

Source: The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies

Volume/Issue: 2000/29

Series: IMF Working Papers

Author(s): Eduardo Borensztein , and Andrew Berg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2000

ISBN: 9781451844795

Keywords: exchange rates, financial programming, money demand, exchange rate, inflation, monetary aggregates

We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information content of various monetary aggregates in developing countries. We conclude that a high degree...

The Choice of Monetary and Exchange Rate Arrangements for a Small, Open, Low-Income Economy

The Choice of Monetary and Exchange Rate Arrangements for a Small, Open, Low-Income Economy »

Source: The Choice of Monetary and Exchange Rate Arrangements for a Small, Open, Low-Income Economy : The Case of São Tomé and Príncipe

Volume/Issue: 2008/118

Series: IMF Working Papers

Author(s): Jian-Ye Wang , Nisreen Farhan , Amar Shanghavi , Márcio Ronci , and Misa Takebe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

ISBN: 9781451869781

Keywords: Monetary and exchange rate arrangements, small economy, open economy, nominal anchor, peg, currency union, exchange rate, inflation, monetary union, central bank

This paper assesses São Tomé and Príncipe's monetary and exchange rate arrangements in light of the country's monetary history and the relevant experience of comparable countries in Africa. The study highlights sev...

Credibility and Exchange Rate Management in Developing Countries

Credibility and Exchange Rate Management in Developing Countries »

Source: Credibility and Exchange Rate Management in Developing Countries

Volume/Issue: 1991/87

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1991

ISBN: 9781451850925

Keywords: exchange rate, inflation, fixed exchange rate, real exchange rate, nominal exchange rate

The paper examines the role of credibility in the conduct of exchange rate policy in developing countries, The analysis is based on a model in which policymakers are concerned about inflation and external competiti...

Credibility and the Dynamics of Stabilization Policy

Credibility and the Dynamics of Stabilization Policy »

Source: Credibility and the Dynamics of Stabilization Policy : A Basic Framework

Volume/Issue: 1990/110

Series: IMF Working Papers

Author(s): Guillermo Calvo , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1990

ISBN: 9781451945584

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

This paper studies price stabilization policy under both predetermined and flexible exchange rates. Under predetermined exchange rates, a non-credible stabilization program results in an initial expansion of output...

Credit Cycle and Capital Buffers in Central America, Panama, and the Dominican Republic

Credit Cycle and Capital Buffers in Central America, Panama, and the Dominican Republic »

Source: Credit Cycle and Capital Buffers in Central America, Panama, and the Dominican Republic

Volume/Issue: 2019/39

Series: IMF Working Papers

Author(s): Valentina Flamini , Pierluigi Bologna , Fabio Di Vittorio , and Rasool Zandvakil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 February 2019

ISBN: 9781484397992

Keywords: Exchange rate policy, Credit booms, Central banks, Credit pricing, Credit risk, Credit cycle;Financial crises;Countercyclical capital buffer;Basel III;CPI inflation;GFC;countercyclical;synchronicity

Credit is key to support healthy and sustainable economic growth but excess aggregate credit growth can signal the build-up of imbalances and lead to systemic financial crisis. Hence, monitoring the credit cycle is...