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The Fiscal Role of Price Stabilization Funds

The Fiscal Role of Price Stabilization Funds »

Source: 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

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...

Macroeconomic Adjustment and Reform in Planned Economies

Macroeconomic Adjustment and Reform in Planned Economies »

Source: 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

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...

Would "Cold Turkey" Work in Turkey?

Would "Cold Turkey" Work in Turkey? »

Source: 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

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...

Optimal Fiscal Strategy for Oil Exporting Countries

Optimal Fiscal Strategy for Oil Exporting Countries »

Source: Optimal Fiscal Strategy for Oil Exporting Countries

Volume/Issue: 2000/118

Series: IMF Working Papers

Author(s): Rodrigo Valdes , and Eduardo Engel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451854077

Keywords: oil exporting countries, stabilization funds, random walk, oil prices, oil production, samples, stationary process

This paper develops simple guidelines for fiscal policy in oil producing countries, focusing on three issues: intergenerational oil distribution, precautionary saving, and adjustment costs. The paper presents a fra...

Inflation and Growth in Transition

Inflation and Growth in Transition »

Source: Inflation and Growth in Transition : Are the Asian Economies Different?

Volume/Issue: 1999/118

Series: IMF Working Papers

Author(s): Torsten Sloek , and Sanja Kalra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1999

ISBN: 9781451854060

Keywords: Transition economies, Asia, growth, structural reforms, inflation stabilization, transition countries, relative price

This paper examines the progress made in four Asian transition economies—China, Lao P.D.R., Vietnam, and Mongolia—to market-based systems. Overall, these economies appear to have had a more favorable...

Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia and other Countries of the Former Soviet Union

Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia and other Countries of the Former Soviet Union »

Source: Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia and other Countries of the Former Soviet Union

Volume/Issue: 1997/108

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1997

ISBN: 9781451853063

Keywords: Stabilization, Income velocity of money, Transition economies, inflation, real money, money stock, money balances, price level

The paper identifies a number of stylized facts on the behavior of key macroeconomic variables during high inflation and stabilization in countries in transition. To examine the extent to which these stylized facts...

Nominal Exchange Rate Anchoring Under Inflation Inertia

Nominal Exchange Rate Anchoring Under Inflation Inertia »

Source: Nominal Exchange Rate Anchoring Under Inflation Inertia

Volume/Issue: 2002/30

Series: IMF Working Papers

Author(s): Guillermo Calvo , Michael Kumhof , and Oya Celasun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451844924

Keywords: Inflation inertia, staggered pricing, exchange rate based stabilization, inflation rate, monetary economics, relative price, Open Economy Macroeconomics,

This paper develops a theory of inflation inertia based on forward looking staggered price setting in the nontradable goods sector of a small open economy. Unlike current theories of sticky prices, transitions to a...

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...

How Persistent Are Shocks to World Commodity Prices?

How Persistent Are Shocks to World Commodity Prices? »

Source: How Persistent Are Shocks to World Commodity Prices?

Volume/Issue: 1999/80

Series: IMF Working Papers

Author(s): Hong Liang , C. McDermott , and Paul Cashin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1999

ISBN: 9781451850284

Keywords: Commodity prices, median-unbiased estimation, shock persistence, price stabilization, time series, export earnings, confidence interval, confidence intervals

This paper examines the persistence of shocks to world commodity prices, using monthly IMF data on primary commodities between 1957–98. We find that shocks to commodity prices are typically long–lasti...

Optimal Macroprudential Policy and Asset Price Bubbles

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Optimal Macroprudential Policy and Asset Price Bubbles »

Source: Optimal Macroprudential Policy and Asset Price Bubbles

Volume/Issue: 2019/184

Series: IMF Working Papers

Author(s): Nina Biljanovska , Lucyna Gornicka , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513511078

Keywords: Economic conditions, Financial crises, Demand, Economic stabilization, Price indexes, Collateral constraints, rational bubbles, macroprudential regulation, optimal policy, WP

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytic...