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Suriname: Toward Stability and Growth

Suriname: Toward Stability and Growth »

Source: Suriname : Toward Stability and Growth

Series: Departmental Papers / Policy Papers

Author(s): Masahiro Nozaki , Tobias Roy , Pawel Dyczewski , Bernhard Fritz-Krockow , Fanny Torres Gavela , Gamal El-Masry , and Rafael Portillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 March 2009

ISBN: 9781589068087

Keywords: exchange rate, foreign currency, inflation, foreign exchange, monetary policy

This paper analyzes the economic growth and stability in Suriname. The paper highlights that in recent years, the outlook has turned substantively more positive. The favorable external environment and the stability...

Monetary Policy Credibility and Exchange Rate Pass-Through°

Monetary Policy Credibility and Exchange Rate Pass-Through° »

Source: Monetary Policy Credibility and Exchange Rate Pass-Through

Volume/Issue: 2016/240

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Bertrand Gruss , Nicolas Magud , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2016

ISBN: 9781475560312

Keywords: Price stabilization, Monetary policy, Exchange rate pass-through, Emerging markets, Consumer prices, Developed countries, Cross country analysis, monetary policy credibility

A long-standing conjecture in macroeconomics is that recent declines in exchange rate pass-through are in part due to improved monetary policy performance. In a large sample of emerging and advanced economies, we f...

Optimal Fiscal and Monetary Policy, Debt Crisis and Management*

Optimal Fiscal and Monetary Policy, Debt Crisis and Management* »

Source: Optimal Fiscal and Monetary Policy, Debt Crisis and Management

Volume/Issue: 2017/78

Series: IMF Working Papers

Author(s): Cristiano Cantore , Paul Levine , Giovanni Melina , and Joseph Pearlman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 March 2017

ISBN: 9781475590180

Keywords: Crisis management, Debt consolidation, Optimal fiscal-monetary policy, long-term debt, fiscal limits, Monetary Policy (Targets, Instruments, and Effects)

The initial government debt-to-GDP ratio and the government's commitment play a pivotal role in determining the welfare-optimal speed of fiscal consolidation in the management of a debt crisis. Under commitment, fo...

Lower Bound Beliefs and Long-Term Interest Rates*

Lower Bound Beliefs and Long-Term Interest Rates* »

Source: Lower Bound Beliefs and Long-Term Interest Rates

Volume/Issue: 2017/62

Series: IMF Working Papers

Author(s): Christian Grisse , Signe Krogstrup , and Silvio Schumacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2017

ISBN: 9781475588224

Keywords: Monetary policy, Negative interest rates, lower bound, yield curve, term structure, Monetary Policy (Targets, Instruments, and Effects)

We study the transmission of changes in the believed location of the lower bound to longterm interest rates since the introduction of negative interest rate policies. The expectations hypothesis of the term structu...

International Spillovers of Forward Guidance Shocks*

International Spillovers of Forward Guidance Shocks* »

Source: International Spillovers of Forward Guidance Shocks

Volume/Issue: 2018/114

Series: IMF Working Papers

Author(s): Callum Jones , Mariano Kulish , and Daniel Rees

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 2018

ISBN: 9781484353554

Keywords: Spillovers, Forward Guidance, Unconventional Monetary Policy, Zero Lower Bound, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics

After 2007, countries that cut their policy interest rates close to zero turned, among other policies, to forward guidance. We estimate a two-country model of the U.S. and Canada to quantify how unexpected changes...

Settling the Inflation Targeting Debate: Lights from a Meta-Regression Analysis1

Settling the Inflation Targeting Debate: Lights from a Meta-Regression Analysis1 »

Source: Settling the Inflation Targeting Debate: Lights from a Meta-Regression Analysis

Volume/Issue: 2017/213

Series: IMF Working Papers

Author(s): Hippolyte Balima , Eric Kilama , and Rene Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

ISBN: 9781484320754

Keywords: Central banks and their policies, Inflation targeting, Meta-regression analysis, Monetary Policy (Targets, Instruments, and Effects)

Inflation targeting (IT) has gained much traction over the past two decades, becoming a framework of reference for the conduct of monetary policy. However, the debate about its very merits and macroeconomic consequ...

Can Countries Manage Their Financial Conditions Amid Globalization?

Can Countries Manage Their Financial Conditions Amid Globalization? »

Source: Can Countries Manage Their Financial Conditions Amid Globalization?

Volume/Issue: 2018/15

Series: IMF Working Papers

Author(s): Nicolas Arregui , Selim Elekdag , R. Gelos , Romain Lafarguette , and Dulani Seneviratne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2018

ISBN: 9781484338612

Keywords: Monetary policy, Financial conditions, international policy transmission, Financial Markets and the Macroeconomy, General, General, General

This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of adva...

Farms, Fertiliser, and Financial Frictions

Farms, Fertiliser, and Financial Frictions »

Source: Farms, Fertiliser, and Financial Frictions : Yields from a DSGE Model

Volume/Issue: 2017/112

Series: IMF Working Papers

Author(s): Sébastien Walker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 May 2017

ISBN: 9781475595772

Keywords: Africa, Monetary policy, financial frictions, foreign capital flows, DSGE models, supply shocks, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics

This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model with a financial accelerator which captures key features of low-income countries (LICs). The predominance of supply shocks in LICs poses dis...

I Introduction

I Introduction »

Source: Designing Monetary and Fiscal Policy in Low-Income Countries

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

Macroeconomic outcomes in low-income countries have improved markedly in recent years. Reflecting improvements in policy implementation, increased official financial support, and a relatively benign internat...

II Stylized Facts of PRGF-Supported Programs in Mature Stabilizers

II Stylized Facts of PRGF-Supported Programs in Mature Stabilizers »

Source: Designing Monetary and Fiscal Policy in Low-Income Countries

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

PRGF-supported programs in the 15 mature stabilizers during 2000–03 have generally sought to consolidate macroeconomic stability and foster growth. By and large, growth outcomes have been in line with progra...