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Implementation of Monetary Policy in Ems Countries Participating in the Exchange Rate Mechanism

Implementation of Monetary Policy in Ems Countries Participating in the Exchange Rate Mechanism »

Source: Implementation of Monetary Policy in Ems Countries Participating in the Exchange Rate Mechanism

Volume/Issue: 1992/87

Series: IMF Working Papers

Author(s): Michel Galy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1992

ISBN: 9781451850932

Keywords: inflation, central bank, monetary autonomy, european monetary system

This paper investigates the issue of monetary interdependence among members of the European Monetary System over the period 1979–91 and the leadership role attributed to the German central bank in the proces...

The ECB'S Inflation Objective

The ECB'S Inflation Objective »

Source: The ECB'S Inflation Objective

Volume/Issue: 2003/91

Series: IMF Working Papers

Author(s): Mads Kieler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451851533

Keywords: European Central Bank, inflation rates, inflation target, ECB,

The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric, and excessively stringent. This paper attempts a comprehensive evaluation of the trade-offs for t...

Macroeconomic Challenges with EU Accession in Southeastern Europe

Macroeconomic Challenges with EU Accession in Southeastern Europe »

Source: Macroeconomic Challenges with EU Accession in Southeastern Europe : An Overview

Volume/Issue: 2006/40

Series: IMF Working Papers

Author(s): Piritta Sorsa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2006

ISBN: 9781451863000

Keywords: exchange rate, inflation, macroeconomic stability, monetary policy, exchange rate anchor, Economywide Country Studies: Europe,

The paper reviews key macroeconomic challenges with EU accession in Southeastern Europe (SEE). Most of the countries in the region are years away from EU accession and need substantial progress to meet the key macr...

Output Collapse in Eastern Europe

Output Collapse in Eastern Europe »

Source: Output Collapse in Eastern Europe : The Role of Credit

Volume/Issue: 1992/64

Series: IMF Working Papers

Author(s): Guillermo Calvo , and Fabrizio Coricelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1992

ISBN: 9781451848472

Keywords: bank credit, inflation, real output, relative prices, banking, Output Collapse in Eastern Europe:,

Real bank credit in Eastern European countries after their recent stabilization programs is shown to have fallen sharply, except in the case of Hungary. The meaning of the fall is discussed under the present value...

The Design of EMU

The Design of EMU »

Source: The Design of EMU

Volume/Issue: 1997/99

Series: IMF Working Papers

Author(s): David Begg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1997

ISBN: 9781451852233

Keywords: European Monetary Union, credibility, asymmetric shocks, inflation, monetary policy, central bank, price stability, monetary union

Pursuit of price stability may, but need not, exacerbate output fluctuations. This paper discusses the monetary strategy of the European Central Bank, the intermediate targets that this should entail, and implicati...

Exchange Rate-Based Stabilization in Western Europe

Exchange Rate-Based Stabilization in Western Europe »

Source: Exchange Rate-Based Stabilization in Western Europe : Greece, Ireland, Italy and Portugal

Volume/Issue: 1997/75

Series: IMF Working Papers

Author(s): Enrica Detragiache , and A. Hamann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1997

ISBN: 9781451849691

Keywords: Inflation stabilization, Western Europe, exchange rate, real exchange rate, monetary policy

This paper compares the experience with exchange-rate–based stabilization (ERBS) of four Western European countries with that of high-inflation developing countries. In general, the behavior of key macroecon...

Cash Shortage in the Former Soviet Union

Cash Shortage in the Former Soviet Union »

Source: Cash Shortage in the Former Soviet Union

Volume/Issue: 1994/67

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451848861

Keywords: inflation, monetary union, monetary fund, money supply, monetary authority, European II,

An unexpected shortage of banknotes emerged during 1992 in the former Soviet Union. The cash shortage is explained by the asymmetry in the monetary union that prevailed, under which one member (the Russian Federati...

Monetary Frameworks

Monetary Frameworks »

Source: Monetary Frameworks : Is There a Preferred Option for the European Central Bank?

Volume/Issue: 1997/6

Series: IMF Policy Discussion Papers

Author(s): Ramana Ramaswamy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1997

ISBN: 9781451972030

Keywords: European Central Bank, Monetary policy, Inflation, EMU, Inflation targeting, Monetary targeting, monetary union

This paper discusses how the size of the monetary union in Europe can influence the choice of the monetary framework. The main conjecture is that the European Central Bank ought to target inflation if monetary unio...

Russia and the IMF

Russia and the IMF »

Source: Russia and the IMF : The Political Economy of Macro-Stabilization

Volume/Issue: 1994/20

Series: IMF Policy Discussion Papers

Author(s): Ernesto Hernández-Catá

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1994

ISBN: 9781451963939

Keywords: inflation, monetary policy, central bank, monetary financing, monetary fund, European II Department,

This paper reviews the experience with macroeconomic stabilization in Russia during the 2 1/2 years following the beginning of reforms in January 1992. It focuses on the different perceptions about the nature, the...

Leading Indicators of Growth and Inflation in Turkey

Leading Indicators of Growth and Inflation in Turkey »

Source: Leading Indicators of Growth and Inflation in Turkey

Volume/Issue: 2002/231

Series: IMF Working Papers

Author(s): Daniel Leigh , and Marco Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451875546

Keywords: Growth, inflation, combination forecasts, monetary policy, central bank, monetary aggregate, foreign exchange, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation

Growth and inflation in Turkey have been volatile over the last two decades. It would, therefore, be useful to identify indicators that anticipate economic conditions and inflation. This paper investigates the pred...