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Macroeconomic Stability in Resource-Rich Countries

Macroeconomic Stability in Resource-Rich Countries »

Source: Macroeconomic Stability in Resource-Rich Countries

Volume/Issue: 2016/36

Series: IMF Working Papers

Author(s): Elva Bova , Paulo Medas , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2016

ISBN: 9781475596465

Keywords: resource-rich countries, procyclical fiscal policy, commodity, prices, price, fiscal policy, General, Models with Panel Data, All Countries,, Natural resources

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal p...

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries12

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries12 »

Source: Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries

Volume/Issue: 2000/112

Series: IMF Working Papers

Author(s): Ugo Fasano-Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451853599

Keywords: oil stabilization fund, oil savings fund, oil exporting countries, Chile&;amp;#x2019;s copper fund, fiscal indicators, oil prices, central government fiscal, oil revenues, fiscal policy

The main purposes of this paper are to review the operational modalities and experience of oil funds currently in place in Norway, Chile (copper), the State of Alaska, Venezuela, Kuwait, and Oman, and to draw some...

Fiscal Deficits and Inflation

Fiscal Deficits and Inflation »

Source: Fiscal Deficits and Inflation

Volume/Issue: 2003/65

Series: IMF Working Papers

Author(s): Luis Catão , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451848700

Keywords: Macroeconomic Stabilization, price inflation, monetary policy, inflation tax, low inflation, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a n...

The Sources of Business Cycles in a Low Income Country*

The Sources of Business Cycles in a Low Income Country* »

Source: The Sources of Business Cycles in a Low Income Country

Volume/Issue: 2015/40

Series: IMF Working Papers

Author(s): Romain Houssa , Jolan Mohimont , and Christopher Otrok

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2015

ISBN: 9781498310147

Keywords: Credit Shocks, Macroeconomic Stabilization Policies, Sign Restrictions, Bayesian VAR, credit, productivity, inflation, prices, exchange, Models with Panel Data

We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shoc...

Cyclical Fiscal Rules for Oil-Exporting Countries

Cyclical Fiscal Rules for Oil-Exporting Countries »

Source: Cyclical Fiscal Rules for Oil-Exporting Countries

Volume/Issue: 2013/229

Series: IMF Working Papers

Author(s): Stephen Snudden

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2013

ISBN: 9781475514018

Keywords: Fiscal policy rules, countercyclical fiscal policy, macroeconomic policy, oil price, oil, fiscal rule, fiscal authority, tax revenues, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, Open Economy Macroeconomics

Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Us...

Banca central en Am�rica Latina

Banca central en Am�rica Latina »

Source: Banca central en América Latina : El camino hacia adelante

Volume/Issue: 2016/197

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Luis I. Jacome H. , Nicolas Magud , and Alejandro Werner

Publisher: CEMLA/Centro de Estudios Monetarios Latinamericano

Publication Date: 31 July 2018

Language: Spanish

ISBN: 9781484343241

Keywords: Argentina, Bolivia, Central bank autonomy, Central banks, Chile, Colombia, Brazil, Ecuador, Financial stability, Intervention

Los bancos centrales de América Latina han avanzado considerablemente en la creación de un entorno de estabilidad de precios que propicie el crecimiento económico sostenible. Examinamos estos logros y analizamos lo...

Inflation-Forecast Targeting for India

Inflation-Forecast Targeting for India »

Source: Inflation-Forecast Targeting for India : An Outline of the Analytical Framework

Volume/Issue: 2017/32

Series: IMF Working Papers

Author(s): Jaromir Benes , Kevin Clinton , Asish George , Joice John , Ondra Kamenik , Douglas Laxton , Pratik Mitra , G.V. Nadhanael , Hou Wang , and Fan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2017

ISBN: 9781475578690

Keywords: Asia and Pacific, Disinflation, India, Inflation targeting, Forecasting models, Monetary policy, Price stabilization, Central banks and their policies, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper d...

The Fiscal Role of Price Stabilization Funds
			: The Case of Côte d'Ivoire

The Fiscal Role of Price Stabilization Funds : The Case of Côte d'Ivoire »

Volume/Issue: 1988/26

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 1988

DOI: http://dx.doi.org/10.5089/9781451981674.001

ISBN: 9781451981674

Keywords: stabilization, producer prices, export taxation, export prices, export tax

This paper aims to illustrate the important fiscal aspects of an agricultural price stabilization fund by examining the operations and experience of the CSSPPA in Côte d’Ivoire. After considering some...

Would "Cold Turkey" Work in Turkey?

Would "Cold Turkey" Work in Turkey? »

Volume/Issue: 2003/49

Series: IMF Working Papers

Author(s): R. Gelos , Alessandro Prati , and Oya Celasun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

DOI: http://dx.doi.org/10.5089/9781451846867.001

ISBN: 9781451846867

Keywords: inertia, price rigidities, stabilization, inflation dynamics, monetary economics,

Persistently high inflation rates have led many to believe that inflation in Turkey has become "inertial," posing an obstacle to disinflation. We assess the empirical validity of this argument. We find that the cur...

Macroeconomic Adjustment and Reform in Planned Economies

Macroeconomic Adjustment and Reform in Planned Economies »

Volume/Issue: 1990/27

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1990

DOI: http://dx.doi.org/10.5089/9781451981568.001

ISBN: 9781451981568

Keywords: excess demand, foreign trade, macroeconomic stabilization, domestic prices, credit policy

This paper examines the relationship between macroeconomic stabilization and market-oriented reform in planned economies. It emphasizes that market-oriented reform should enhance the likelihood that adjustment to e...