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Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations

Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations »

Volume/Issue: 2010/63

Series: IMF Working Papers

Author(s): Felipe Meza , and Carlos Urrutia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

DOI: http://dx.doi.org/10.5089/9781451982077.001

ISBN: 9781451982077

Keywords: Real Exchange Rate, Appreciation, Financial Liberalization, Structural Change, tradable goods, relative price, terms of trade shocks, Open Economy Macroeconomics, Economic Growth and Aggregate Productivity: General,

We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential produ...

Incorporating Financial Stability in Inflation Targeting Frameworks

Incorporating Financial Stability in Inflation Targeting Frameworks »

Volume/Issue: 2011/224

Series: IMF Working Papers

Author(s): Burcu Aydin , and Engin Volkan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904326.001

ISBN: 9781463904326

Keywords: DSGE, financial accelerator, inflation, central bank, monetary shock, Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data), Financial Markets and the Macroeconomy, Monetary Policy

The global financial crisis has exposed the limitations of a conventional inflation targeting (IT) framework in insulating an economy from shocks, and demonstrated that its rigid application may aggravate the effec...

Back Matter

Back Matter »

Source: Excerpt : Commodity Price Volatility and Inclusive Growth in Low-Income Countries

Series: Miscellaneous Publication (Other)

Author(s): Min Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2012

ISBN: CPVIEAEX

Keywords: Agricultural sector, Balance of trade, Central banking, Central banks, Civil society, Commodities, Commodity price shocks, Commodity prices, Consumption, Credit

In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food...

Fire Sales and the Financial Accelerator

Fire Sales and the Financial Accelerator »

Volume/Issue: 2010/141

Series: IMF Working Papers

Author(s): Woon Choi , and David Cook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201242.001

ISBN: 9781455201242

Keywords: fire sales, financial accelerator, endogenous recovery rate, financial shock, liquidity spiral, collateral, inflation, monetary policy, inflation targeting, real interest rates

During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates...

Monetary Policy and Risk-Premium Shocks in Hungary
			: Results from a Large Bayesian VAR

Monetary Policy and Risk-Premium Shocks in Hungary : Results from a Large Bayesian VAR »

Volume/Issue: 2011/259

Series: IMF Working Papers

Author(s): Adina Popescu , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463923983.001

ISBN: 9781463923983

Keywords: Risk premium shocks, Transmission mechanism, Large Bayesian VAR, inflation, central bank, financial stability, foreign currency, General Aggregative Models: Forecasting and Simulation, Money and Interest Rates: Forecasting and Simulation, Bayesian Analysis

We document the transmission of monetary policy and risk-premium shocks in Hungary, by applying recent advances in the Bayesian estimation of large VAR models. The method allows extracting information from over 100...

Front Matter

Front Matter »

Source: Excerpt : Commodity Price Volatility and Inclusive Growth in Low-Income Countries

Series: Miscellaneous Publication (Other)

Author(s): Min Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2012

ISBN: CPVIEAEX

Keywords: Agricultural sector, Balance of trade, Central banking, Central banks, Civil society, Commodities, Commodity price shocks, Commodity prices, Consumption, Credit

In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food...