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Factors Underlying the Definition of Broad Money

Factors Underlying the Definition of Broad Money »

Source: Factors Underlying the Definition of Broad Money : An Examination of Recent U.S. Monetary Statistics and Practices of Other Countries

Volume/Issue: 2003/62

Series: IMF Working Papers

Author(s): Ewe-Ghee Lim , and Subramanian Sriram

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451848304

Keywords: Definitions Money, aggregates, money market, inflation, monetary aggregate, Macroeconomics and Monetary Economics: General, Money and Interest Rates, Monetary Policy, Central Banking, and the Supply of Money and Credit,

The paper examines the experiences of countries in defining monetary aggregates, particularly those countries that have undertaken substantial redefinitions. It finds that both the functional and empirical approach...

Inflation Targeting in Dollarized Economies

Inflation Targeting in Dollarized Economies »

Source: Inflation Targeting in Dollarized Economies

Volume/Issue: 2006/157

Series: IMF Working Papers

Author(s): Leonardo Leiderman , Rodolfo Maino , and Eric Parrado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

ISBN: 9781451864175

Keywords: exchange rate, foreign exchange, real exchange rate, Money And Interest Rates, Monetary Policy, Central Banking, And The Supply Of Money And Credit,

The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful impleme...

Monetary Independence in Emerging Markets

Monetary Independence in Emerging Markets »

Source: Monetary Independence in Emerging Markets : Does the Exchange Rate Regime Make a Difference?

Volume/Issue: 2001/1

Series: IMF Working Papers

Author(s): Thomas Philippon , Jeronimo Zettelmeyer , and Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

ISBN: 9781451841633

Keywords: exchange rate regime, exchange rate, domestic interest rates, exchange rates, bond, Monetary Policy, Central Banking, and the Supply of Money and Credit: General,

This paper compares the impact of shocks to U.S. interest rates and emerging market bond spreads on domestic interest rates and exchange rates across several emerging market economies with different exchange rate r...

Financial Dollarization Equilibria

Financial Dollarization Equilibria »

Source: Financial Dollarization Equilibria : A Framework for Policy Analysis

Volume/Issue: 2005/186

Series: IMF Working Papers

Author(s): Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

ISBN: 9781451862058

Keywords: exchange rate, currency risk, interest rate risk, overvaluation, moral hazard, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Financial Institutions and Services: General,

Rapidly rising dollarization and numerous related financial crises in recent years have heightened the need for policy action. This paper contributes to the policy debate by presenting a common analytic framework t...

The Cyclicality of Sales, Regular and Effective Prices

The Cyclicality of Sales, Regular and Effective Prices »

Source: The Cyclicality of Sales, Regular and Effective Prices : Business Cycle and Policy Implications

Volume/Issue: 2012/207

Series: IMF Working Papers

Author(s): Olivier Coibion , Yuriy Gorodnichenko , and Gee Hee Hong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505573

Keywords: Sales, Price Changes, Store-Switching, inflation, monetary policy, price inflation, inflation rate, inflation rates, Business Fluctuations, And Cycles

We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety...

Interest Rate Pass-Through in Romania and Other Central European Economies

Interest Rate Pass-Through in Romania and Other Central European Economies »

Source: Interest Rate Pass-Through in Romania and Other Central European Economies

Volume/Issue: 2004/211

Series: IMF Working Papers

Author(s): Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451874877

Keywords: Monetary policy transmission, Interest rate, Central European Economies, equation, inflation, equations, statistic, Monetary Policy, Central Banking, and the Supply of Money and Credit: General,

Interest rate pass-through from policy interest rates to market rates and inflation has been hypothesized to play a lesser role in Romania than in other Central European transition economies. This paper tests this...

Monetary Policy, Monetary Areas, and Financial Development with Electronic Money

Monetary Policy, Monetary Areas, and Financial Development with Electronic Money »

Source: Monetary Policy, Monetary Areas, and Financial Development with Electronic Money

Volume/Issue: 2004/122

Series: IMF Working Papers

Author(s): Marco Arnone , and Luca Bandiera

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

ISBN: 9781451854527

Keywords: electronic money, central bank, atm, credit, reserve requirements, Money and Interest Rates: General, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, International Monetary Arrangements and Institutions,

Electronic money (e-money), as a network good, could become an important form of currency in the future. Such a development could affect monetary policy effectiveness. If an increased use of e-money substantially l...

Exchange Rate, Money, and Wages

Exchange Rate, Money, and Wages »

Source: Exchange Rate, Money, and Wages : What is Driving Prices in Armenia?

Volume/Issue: 2004/229

Series: IMF Working Papers

Author(s): Armine Khachatryan , David Grigorian , and Grigor Sargsyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2004

ISBN: 9781451875508

Keywords: price dynamics, error correction model, inflation, foreign exchange, money market, central bank, Money and Interest Rates, Central Banking, and the Supply of Money and Credit, Macroeconomic Aspects of International Trade and Finance,

This paper is the first attempt to look at inflation dynamics and monetary transmission mechanisms in Armenia in the context of a full information model containing three interrelated markets: foreign exchange, mone...

World Crude Oil Markets

World Crude Oil Markets »

Source: World Crude Oil Markets : Monetary Policy and the Recent Oil Shock

Volume/Issue: 2006/62

Series: IMF Working Papers

Author(s): Noureddine Krichene

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863222

Keywords: elasticities, impulse responses, multipliers, volatility, natural gas, oil demand, crude oil price, Money and Interest Rates: General, Monetary Policy, Central Banking

This paper examines the relationship between monetary policy and oil prices within a world oil demand and supply model. Low price and high income elasticities of demand and rigid supply explain high price volatilit...

Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Innocent Bystanders? Monetary Policy and Inequality in the U.S. »

Source: Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Volume/Issue: 2012/199

Series: IMF Working Papers

Author(s): John Silvia , Lorenz Kueng , Olivier Coibion , and Yuriy Gorodnichenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505498

Keywords: Consumption Inequality, inflation, contractionary monetary policy, inflation target, monetary shocks, Business Fluctuations, And Cycles, money And Interest Rates, monetary Policy, Central Banking

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequa...