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Managing Economic Volatility in Latin America

Managing Economic Volatility in Latin America »

Series: Books

Author(s): R. Gelos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2014

DOI: http://dx.doi.org/10.5089/9781484364987.071

ISBN: 9781484364987

Keywords: exchange rate, public debt, inflation, current account, dutch disease

How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region has fared in rece...

Moving to Greater Exchange Rate Flexibility
			: Operational Aspects Based on Lessons from Detailed Country Experiences

Moving to Greater Exchange Rate Flexibility : Operational Aspects Based on Lessons from Detailed Country Experiences »

Series: Occasional Papers

Author(s): Inci Ötker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2007

DOI: http://dx.doi.org/10.5089/9781589066243.084

ISBN: 9781589066243

Keywords: Floating exchange rates, exchange rate, inflation, monetary policy, central bank, exchange rate flexibility

Many countries have moved towards more flexible exchange rate regimes over the last decade to take advantage of greater monetary policy autonomy and flexibility in responding to external shocks. Some reluctance to...

Monetary Policy in Dollarized Economies

Monetary Policy in Dollarized Economies »

Series: Occasional Papers

Author(s): Adam Bennett , Eduardo Borensztein , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1999

DOI: http://dx.doi.org/10.5089/9781557757579.084

ISBN: 9781557757579

Keywords: central bank, exchange rate, currency substitution, inflation, dollarization

Dollarization - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many co...

Quasi-Fiscal Operations of Public Financial Institutions

Quasi-Fiscal Operations of Public Financial Institutions »

Series: Occasional Papers

Author(s): George Mackenzie , and Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 1996

DOI: http://dx.doi.org/10.5089/9781557755834.084

ISBN: 9781557755834

Keywords: central bank, inflation, monetary fund, central banks, exchange rate

Central banks and other public financial institutions act as agents of fiscal policy in many countries. Their "quasi-fiscal" operations and activities can affect the overall public sector balance without affecting...

Macroeconomic Implications of Financial Dollarization
			: The Case of Uruguay

Macroeconomic Implications of Financial Dollarization : The Case of Uruguay »

Series: Occasional Papers

Author(s): R. Gelos , Alejandro Lopez Mejia , and Marco Piñón-Farah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2008

DOI: http://dx.doi.org/10.5089/9781589067271.084

ISBN: 9781589067271

Keywords: Dollarization, Banking sector, Exchange rate regimes, External sector, Fiscal sustainability, Fiscal reforms, inflation, monetary policy, central bank, foreign currency

Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in...

Stopping High Inflation

Stopping High Inflation »

Source: Stopping High Inflation : An Analytical Overview

Volume/Issue: 1991/107

Series: IMF Working Papers

Author(s): Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1991

ISBN: 9781451946727

Keywords: inflation rate, high inflation, real interest rates, chronic inflation

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

Exchange-Rate-Based Stabilization under Imperfect Credibility

Exchange-Rate-Based Stabilization under Imperfect Credibility »

Source: Exchange-Rate-Based Stabilization under Imperfect Credibility

Volume/Issue: 1991/77

Series: IMF Working Papers

Author(s): Guillermo Calvo , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1991

ISBN: 9781451849912

Keywords: exchange rate, real exchange rate, inflation rate, nominal interest rate

This paper analyzes stabilization policy under predetermined exchange rates in a cash-in-advance, staggered-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and p...

Exchange-Rate-Based Stabilization

Exchange-Rate-Based Stabilization »

Source: Exchange-Rate-Based Stabilization : A Critical Look at the Stylized Facts

Volume/Issue: 1999/132

Series: IMF Working Papers

Author(s): A. Hamann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1999

ISBN: 9781451855364

Keywords: inflation stabilization, exchange-rate-based stabilization, stabilization, high inflation, inflation rate

Do exchange-rate-based stabilizations generate distinctive economic dynamics? To address this question, this paper identifies stabilization episodes using criteria that differ from those in previous empirical studi...

Disinflation and the Recession-Now-Versus-Recession-Later Hypothesis

Disinflation and the Recession-Now-Versus-Recession-Later Hypothesis »

Source: Disinflation and the Recession-Now-Versus-Recession-Later Hypothesis : Evidence From Uruguay

Volume/Issue: 1995/99

Series: IMF Working Papers

Author(s): Carlos Végh Gramont , and Alexander Hoffmaister

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1995

ISBN: 9781451852219

Keywords: exchange rate, inflation, money growth, real exchange rate, exchange rate depreciation

Both analytical models and casual empiricism suggest that the timing of the recessionary costs associated with inflation stabilization in chronic inflation countries may depend on the nominal anchor which is used....

Currency Substitution in Developing Countries

Currency Substitution in Developing Countries »

Source: Currency Substitution in Developing Countries : An Introduction

Volume/Issue: 1992/40

Series: IMF Working Papers

Author(s): Guillermo Calvo , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1992

ISBN: 9781451845884

Keywords: Exchange rates, Developing countries, Currency substitution, Inflation, foreign currency, exchange rate, inflation tax

This paper reviews the main policy and analytical issues related to currency substitution in developing countries. The paper discusses, first, whether currency substitution should be encouraged or not; second, how...