Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Europe > Norway

You are looking at 1 - 4 of 4 items for :

  • Type: Journal Issue x
Clear All Modify Search
Cover IMF Working Papers
Interest Rate Rules, Endogenous Cycles, and Chaotic Dynamics in Open Economies
Luis-Felipe Zanna
and
Mr. Marco Airaudo
We present an extensive analysis of the consequences for global equilibrium determinacy in flexible-price open economies of implementing active interest rate rules, i.e., monetary rules where the nominal interest rate responds more than proportionally to inflation. We show that conditions under which these rules generate aggregate instability by inducing liquidity traps, endogenous cycles, and chaotic dynamics depend on specific characteristics of open economies. In particular, rules that respond to expected future inflation are more prone to induce endogenous cyclical and chaotic dynamics the more open the economy to trade.
Keywords:
WP; interest rate; Small Open Economy; Interest Rate Rules; Taylor Rules; Multiple Equilibria; Chaos; Cycles and Endogenous Fluctuations; liquidity trap; exchange rate pass-through; closed economy; interest rate rule; money balance; marginal utility; Inflation; Exchange rate pass-through; Consumption; Real exchange rates; Import prices; Global
Cover IMF Staff Country Reports
Norway: Selected Issues
International Monetary Fund
This Selected Issues paper analyzes inflation in Norway with a view to shedding light on this surprising development and the possible near-term course of inflation, using statistical and econometric analyses. The paper reviews recent developments of monetary policy and inflation in Norway, applies statistical and econometric tools to identify factors influencing inflation, and describes the implications of the analysis for policymaking. Using data for six advanced small open economies explicitly targeting inflation, the paper examines empirically whether deviations of the exchange rate from their equilibrium levels systematically affect the conduct of monetary policy.
Keywords:
ISCR; CR; import price; inflation targeting framework; import prices; headline inflation; inflation targeting regime; interest rate rule; Inflation; Inflation targeting; Import prices; Consumer price indexes; Real exchange rates; Australia and New Zealand; Global; Middle East; Europe
Cover IMF Working Papers
Compiling and Using Export and Import Price Indices
Mr. Kimberly D. Zieschang
and
Mr. Jemma Dridi
Export and import price indices are essential for assessing the impact of international trade on the domestic economy. Among their most important uses are analyzing developments in the trade balance, measuring foreign prices' contribution to domestic inflation, and deflating nominal values of exports and imports for estimating the volume of gross domestic product. This paper discusses the main uses of trade indices and the data sources used to compile them. It also presents various approaches used to compile foreign trade price indices, addresses various problems encountered in developing these indices, and provides some recommendations on how to address them.
Keywords:
WP; trade price; exchange rate; base price; index number; Price index; international trade; economic statistics; unit value; GDP deflator; customs commodity class; Price indexes; Import price indexes; Export price indexes; Imports; Exports; Global; North America
Cover IMF Staff Papers
IMF Staff Papers: Volume 1, No. 1
International Monetary Fund. Research Dept.
This paper highlights various problems and policies related to latent inflation. Disappointment will undoubtedly be widespread if, after 10 years of inflation control, latent inflation is permitted to become active and there is a considerable rise in prices. It is not unlikely that some governments will feel they simply cannot accept such a policy. However, the prospect of wiping out or working off latent inflation in any moderate period is very slight. There is every reason to deal with the latent inflation as far as possible by absorbing it through taxation and by measures to reduce liquidity. At the same time, with increased output it should be possible to work off part of the latent inflation. Even if it becomes generally recognized that all or most of such inflation cannot be wiped out or worked off, its immediate activation may be unwise. At some stage soon, governments must face the difficulties presented by latent inflation and recognize that a comprehensive program for dealing with it must be put into effect. Unless such programs are adopted, there can be no great confidence that international payments problems can be solved simply by imposing more rigorous and more extensive controls.
Keywords:
SP; currency proceeds; latent inflation; center; proceeds; export; currency; ECA shipment; import restriction; ITO charter; Imports; National income; International trade organizations; Exports; Agricultural commodities; Western Hemisphere; Western Europe; Middle East; Europe; North America; Inflation; import SurplusTerms; PoliciesThe measurement; export price