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Money Supply and Interest Rate Policy in a New-Keynesian Framework1/

Money Supply and Interest Rate Policy in a New-Keynesian Framework1/ »

Source: Money Supply and Interest Rate Policy in a New-Keynesian Framework

Volume/Issue: 1990/119

Series: IMF Working Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1990

ISBN: 9781451940039

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

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...

The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs

The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs »

Source: The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs

Volume/Issue: 1994/75

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451849660

Keywords: nominal interest rate, bonds, foreign bonds, real money

This paper examines the behavior of real interest rates in exchange-rate based stabilization programs. The analysis is based on a model with imperfect capital mobility and optimizing agents. A permanent reduction i...

A Forward-Looking Macroeconomic Simulation Model for a Developing Country

A Forward-Looking Macroeconomic Simulation Model for a Developing Country »

Source: A Forward-Looking Macroeconomic Simulation Model for a Developing Country

Volume/Issue: 1989/53

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 June 1989

ISBN: 9781451969849

Keywords: exchange rate, foreign exchange, nominal interest rate, money supply, real interest rates

The paper develops a small dynamic macroeconomic simulation model for a representative developing country which relies on familiar macroeconomic theory and in which expectations are formed rationally. The model is...

Testing for Cointegration Using the Johansen Methodology when Variables are Near-Integrated

Testing for Cointegration Using the Johansen Methodology when Variables are Near-Integrated »

Source: Testing for Cointegration Using the Johansen Methodology when Variables are Near-Integrated

Volume/Issue: 2007/141

Series: IMF Working Papers

Author(s): Pär Österholm , and Erik Hjalmarsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451867053

Keywords: cointegration, inflation, nominal interest rate, equation, nominal interest rates, Near-unit-roots, Spurious Rejection, Monte Carlo Simulations,

We investigate the properties of Johansen's (1988, 1991) maximum eigenvalue and trace tests for cointegration under the empirically relevant situation of near-integrated variables. Using Monte Carlo techniques, we...

Losing Credibility

Losing Credibility »

Source: Losing Credibility : The Stabilization Blues

Volume/Issue: 1992/73

Series: IMF Working Papers

Author(s): Pablo Guidotti , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1992

ISBN: 9781451958591

Keywords: exchange rate, balance of payments, balance of payments crisis, nominal interest rate, real exchange rate

In exchange rate-based stabilization programs, credibility often follows a distinct time pattern. At first it rises as the highly visible nominal anchor provides a sense of stability and hopes run high for a perman...

Sticky Inflation and the Real Effects of Exchange Rate Based Stabilization

Sticky Inflation and the Real Effects of Exchange Rate Based Stabilization »

Source: Sticky Inflation and the Real Effects of Exchange Rate Based Stabilization

Volume/Issue: 2003/151

Series: IMF Working Papers

Author(s): Oya Celasun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451857054

Keywords: Credibility, nominal interest rate, monetary economics, inflation dynamics, inflation stabilization, Business Fluctuations, and Cycles, Macroeconomic Aspects of International Trade and Finance,

Exchange rate-based inflation stabilization (ERBS) policies are associated with a boom-recession cycle in economic activity and sustained real exchange rate appreciation. A class of models in the literature has exp...

Money Supply and Interest Rate Policy in a New-Keynesian Framework

Money Supply and Interest Rate Policy in a New-Keynesian Framework »

Volume/Issue: 1990/119

Series: IMF Working Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1990

DOI: http://dx.doi.org/10.5089/9781451940039.001

ISBN: 9781451940039

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

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...

The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs

The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs »

Volume/Issue: 1994/75

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

DOI: http://dx.doi.org/10.5089/9781451849660.001

ISBN: 9781451849660

Keywords: nominal interest rate, bonds, foreign bonds, real money

This paper examines the behavior of real interest rates in exchange-rate based stabilization programs. The analysis is based on a model with imperfect capital mobility and optimizing agents. A permanent reduction i...

A Forward-Looking Macroeconomic Simulation Model for a Developing Country

A Forward-Looking Macroeconomic Simulation Model for a Developing Country »

Volume/Issue: 1989/53

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 June 1989

DOI: http://dx.doi.org/10.5089/9781451969849.001

ISBN: 9781451969849

Keywords: exchange rate, foreign exchange, nominal interest rate, money supply, real interest rates

The paper develops a small dynamic macroeconomic simulation model for a representative developing country which relies on familiar macroeconomic theory and in which expectations are formed rationally. The model is...

Testing for Cointegration Using the Johansen Methodology when Variables are Near-Integrated

Testing for Cointegration Using the Johansen Methodology when Variables are Near-Integrated »

Volume/Issue: 2007/141

Series: IMF Working Papers

Author(s): Pär Österholm , and Erik Hjalmarsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867053.001

ISBN: 9781451867053

Keywords: cointegration, inflation, nominal interest rate, equation, nominal interest rates, Near-unit-roots, Spurious Rejection, Monte Carlo Simulations,

We investigate the properties of Johansen's (1988, 1991) maximum eigenvalue and trace tests for cointegration under the empirically relevant situation of near-integrated variables. Using Monte Carlo techniques, we...