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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...

Monetary and Exchange Rate Dynamics During Disinflation

Monetary and Exchange Rate Dynamics During Disinflation »

Source: Monetary and Exchange Rate Dynamics During Disinflation : An Empirical Analysis

Volume/Issue: 2005/33

Series: IMF Working Papers

Author(s): Lei Zhang , A. Hamann , and Andres Arias Leiva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

ISBN: 9781451860528

Keywords: Inflation stabilization, nominal anchor, exchange rate-based stabilization, stabilization, exchange rate, exchange rate anchor, exchange rate volatility, foreign exchange, Open Economy Macroeconomics,

Based on the observed behavior of monetary aggregates and exchange rates, we classify inflation-stabilization episodes into two categories: de facto exchange rate-based stabilizations (ERBS) and non-ERBS. Unlike th...

Resolving a Large Contingent Fiscal Liability

Resolving a Large Contingent Fiscal Liability »

Source: Resolving a Large Contingent Fiscal Liability : Eastern European Experiences

Volume/Issue: 2008/159

Series: IMF Working Papers

Author(s): Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870176

Keywords: Contingent liability, macroeconomic stabilization, debt service, current account, fiscal policy, debt settlement,

On occasion, a government may find itself confronted with a need to address a large contingent or off balance sheet fiscal liability. Implementing a settlement raises issues of fiscal sustainability and macroeconom...

Dedollarization

Dedollarization »

Source: Dedollarization

Volume/Issue: 2010/188

Series: IMF Working Papers

Author(s): Annamaria Kokenyne , Jeremy Ley , and Romain Veyrune

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202225

Keywords: macroeconomic stabilization, foreign currency, exchange rate, inflation, Financial Institutions and Services: Government Policy and Regulation,

This paper provides a summary of the key policies that encourage dedollarization. It focuses on cases in which the authorities' intention is to gain greater control of monetary policy and draws on the experiences o...

Fiscal Deficits and Inflation

Fiscal Deficits and Inflation »

Source: Fiscal Deficits and Inflation

Volume/Issue: 2003/65

Series: IMF Working Papers

Author(s): Luis Catão , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451848700

Keywords: Macroeconomic Stabilization, price inflation, monetary policy, inflation tax, low inflation, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a n...

Modern Hyper- and High Inflations

Modern Hyper- and High Inflations »

Source: Modern Hyper- and High Inflations

Volume/Issue: 2002/197

Series: IMF Working Papers

Author(s): Stanley Fischer , Ratna Sahay , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2002

ISBN: 9781451860023

Keywords: Fiscal deficit, inflationary dynamics, stabilization, growth, high inflation, low inflation, inflation rate, money growth, Open Economy Macroeconomics,

Since 1947, hyperinflations (by Cagan’s definition) in market economies have been rare. Much more common have been longer inflationary processes with inflation rates above 100 percent per annum. Based on a s...

Obstacles to Disinflation

Obstacles to Disinflation »

Source: Obstacles to Disinflation : What is the Role of Fiscal Expectations?

Volume/Issue: 2004/111

Series: IMF Working Papers

Author(s): R. Gelos , Alessandro Prati , and Oya Celasun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451853506

Keywords: stabilization, inflation dynamics, expectation formation, inflation, central bank, monetary fund, Open Economy Macroeconomics, Studies of Particular Policy Episodes,

Is backward-looking behavior in pricing or imperfect credibility of stabilization efforts responsible for the failure of inflation rates to decline to targeted levels during many disinflation programs? This paper a...

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...

Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe

Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe »

Source: Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe

Volume/Issue: 2007/99

Series: IMF Working Papers

Author(s): Jens Clausen , Sharmini Coorey , Bakar Ould-Abdallah , Sònia Muñoz , and Norbert Funke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866636

Keywords: High Inflation, Macroeconomic Stabilization, International Experience, monetary fund, central bank, high inflation episodes, Studies of Particular Policy Episodes,

Zimbabwe has currently the highest rate of inflation in the world (an annual rate of 1,730 percent in February, 2007). The high rates of inflation have contributed to the contraction of the economy, which has decli...

Economic Performance Over the Conflict Cycle

Economic Performance Over the Conflict Cycle »

Source: Economic Performance Over the Conflict Cycle

Volume/Issue: 2004/95

Series: IMF Working Papers

Author(s): Nicholas Staines

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451851854

Keywords: Conflict, post-conflict, war, economic impact, macroeconomic stabilization, cold war, real gdp, gdp per capita, civil wars, civil conflicts,

The paper finds a significant shift in the economic characteristics of civil conflicts during the1990s. Conflicts have become shorter but with more severe contractions and a stronger recovery of growth. The overall...