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Europe > Norway

You are looking at 1 - 5 of 5 items for :

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Cover IMF Working Papers
Measurement and Use of Cash by Half the World’s Population
Mr. Tanai Khiaonarong
and
David Humphrey
The use of cash for payments is not well measured. We view the value of cash withdrawn from ATMs, or as a share of all payments, as a more accurate and timely measure of cash use compared to the standard measure of currency in circulation, or as a ratio to GDP. These two measures are compared for 14 advanced and emerging market economies. When aggregated, the trend in cash use for payments is currently falling for half the world’s population. Such a measure can help inform policy decisions regarding CBDC and regulatory decisions concerning access to and use of cash.
Keywords:
Cash; payments; access to cash; central bank digital currency; cash use; ATM cash; aggregate Currency value; value of cash; use of cash; Currencies; Monetary base; Purchasing power parity; Stocks; Payment systems
Cover IMF Working Papers
Money and Collateral
Mr. Manmohan Singh
and
Mr. Peter Stella
Between 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized assets to collateralize borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains highly liquid.
Keywords:
WP; central bank money; financial market; transmission mechanism; interest rate; market practice; Money; collateral; liquidity; financial crisis; securitization; central bank; party repo market; depository liability; Fed holding; Fed-Treasury accord; market clearing; FR note; Monetary base; Currencies; Bank deposits; Global
Cover IMF Working Papers
Panacea, Curse, or Nonevent? Unconventional Monetary Policy in the United Kingdom
Mr. Andre Meier
The Bank of England's current "quantitative easing" strategy has given rise to a controversial debate about the effects and risks of unconventional monetary policy. The present paper makes two contributions to this debate. First, it provides a systematic overview of unconventional policy options, drawing from existing theoretical and empirical studies. Against this backdrop, it then analyzes the BoE's specific policies, discussing their effectiveness so far and putting them into a cross-country context. Tentative evidence on the BoE's quantitative easing is moderately encouraging, although the strategy is neither guaranteed to succeed nor as perilous as some of its detractors claim.
Keywords:
WP; asset purchase; quantitative easing; private sector; government bond; commercial paper
Cover IMF Staff Country Reports
Guinée: Première revue de l’accord triennal au titre de la Facilité pour la réduction de la pauvreté et pour la croissance, et demande de dérogation pour non observation de critères de réalisation, de modification de critères de réalisation, et d’augmentation du niveau d’accès et revue des assurances de financement — Rapport des services du FMI; Déclaration des services du FMI; Communiqué de presse sur les délibérations du Conseil d’administration; et Déclaration de l’Administrateur pour la Guinée
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Keywords:
ISCR; CR; PRGF; twelve-month inflation rate; PC secretariat; staff appraisal; authority
Cover IMF Staff Country Reports
Guinea: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Nonobservance of Performance Criteria, Modification of Performance Criteria, Augmentation of Access, and Financing Assurances Review: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Guinea
International Monetary Fund
This paper discusses key findings of the First Review Under the Poverty Reduction and Growth Facility (PRGF) for Guinea. All but two quantitative performance criteria (PC) were met. IMF staff supports the authorities’ requests for waivers of nonobservance, based on their remedial actions. Progress of structural reforms was broadly satisfactory and all structural PCs and benchmarks for end-December 2007 were met. However, several quantitative indicative targets for end-March 2008 were missed, in part on account of a delayed response to the financial pressures arising from higher fuel prices.
Keywords:
ISCR; CR; PRGF; twelve-month inflation rate; PC secretariat; staff appraisal; authority; Guinean authorities; financing policy; adverse opinion; Debt relief; International reserves; Mining sector; Monetary base; Global; Sub-Saharan Africa