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Asset Prices, Monetary Policy, and the Business Cycle

Asset Prices, Monetary Policy, and the Business Cycle »

Source: Asset Prices, Monetary Policy, and the Business Cycle

Volume/Issue: 1994/6

Series: IMF Policy Discussion Papers

Author(s): Garry Schinasi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1994

ISBN: 9781451971927

Keywords: inflation, monetary policy, inflationary pressures, price inflation, monetary fund

The business cycle in several industrial countries during the period 1989-1993 was different from previous post World War II business cycles in important ways. This paper describes the unique character of the recen...

Exchange Rate Policy and Monetary Strategy Options in the Philippines

Exchange Rate Policy and Monetary Strategy Options in the Philippines »

Source: Exchange Rate Policy and Monetary Strategy Options in the Philippines : The Search for Stability and Sustainability

Volume/Issue: 1997/4

Series: IMF Policy Discussion Papers

Author(s): Aerdt Houben

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1997

ISBN: 9781451973341

Keywords: Exchange rate policy, Exchange rate regimes, Monetary policy, Philippines, exchange rate, central bank, nominal anchor

This paper evaluates the Philippines’ experience with different exchange regimes since 1970. It argues that the shift to a flexible regime was crucial to restoring external viability and generating an export...

Monetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU1

Monetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU1 »

Source: Monetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU

Volume/Issue: 1999/5

Series: IMF Policy Discussion Papers

Author(s): Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

ISBN: 9781451972641

Keywords: Central and Eastern Europe, European Economic and Monetary Union, Exchange rate policy, Monetary policy, Transition economies, EMU, exchange rates, exchange rate, international monetary fund, currency board

The more advanced Central and Eastern European Countries (CEECs) face an evolving set of considerations in choosing their exchange rate policies. On the one hand, capital mobility is increasing, and this imposes ad...

The Role of MULTIMOD in the IMF's Policy Analysis

The Role of MULTIMOD in the IMF's Policy Analysis »

Source: The Role of MULTIMOD in the IMF's Policy Analysis

Volume/Issue: 2000/5

Series: IMF Policy Discussion Papers

Author(s): Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451972689

Keywords: Economic models, Fund policies, MULTIMOD, macroeconomic policy analysis, monetary policy, exchange rate, international monetary fund, exchange rate regime, government spending

This paper describes the basic structure, underlying philosophy, and key behavioral properties of MULTIMOD. It also focuses on several recent applications of macromodels in the IMF’s policy analysis, emphasi...

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...

Inflation Targeting

Inflation Targeting »

Source: Inflation Targeting : What is the Meaning of the Bottom of the Band?

Volume/Issue: 1999/8

Series: IMF Policy Discussion Papers

Author(s): Eric Clifton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1999

ISBN: 9781451970906

Keywords: Inflation targeting, credibility, monetary policy, inflation, price stability, inflation target

This paper investigates the meaning of the bottom of target bands in inflation targeting regimes. It is argued that the design of lower limits on target bands, if not done with care, can lead to a lack of transpare...

Does Excess Liquidity Pose a Threat in Japan?

Does Excess Liquidity Pose a Threat in Japan? »

Source: Does Excess Liquidity Pose a Threat in Japan?

Volume/Issue: 2005/5

Series: IMF Policy Discussion Papers

Author(s): Gauti Eggertsson , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

ISBN: 9781451975666

Keywords: Expectations, Deflation, Japan, Monetary policy, Monetary policy, Inflation, quantitative easing, interest rates, interest, interest rate

This paper examines the effects of quantitative easing implemented by the Bank of Japan (BoJ) since early 2001, looking specifically at the impact on inflation expectations and real asset prices. It suggests a numb...

Monetary Transmission and Financial Indexation

Monetary Transmission and Financial Indexation »

Source: Monetary Transmission and Financial Indexation : Evidence from the Chilean Economy

Volume/Issue: 1994/17

Series: IMF Policy Discussion Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1994

ISBN: 9781451965407

Keywords: Turkey, inflation, monetary policy, real interest rates, money growth, real interest rate

This paper reviews empirical evidence on the operation of the monetary transmission mechanism based on targeting of interest rates on indexed assets in the Chilean economy. The empirical evidence has two policy imp...

Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities

Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities »

Source: Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities

Volume/Issue: 2001/7

Series: IMF Policy Discussion Papers

Author(s): Mark Zelmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451971583

Keywords: Central banks, Central banks and their policies, Bonds, Monetary policy, Monetary policy, Monetary operations, central bank, government securities, balance sheets, financial institutions,

The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to implement monetary policy, provide credit to the financial...