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Europe > Ukraine

You are looking at 1 - 6 of 6 items for :

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  • IMF Staff Papers x
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Cover IMF Staff Papers
IMF Staff Papers, Volume 52, No. 1
International Monetary Fund. Research Dept.
This first issue of IMF Staff Papers for 2005 contains 7 papers that discuss: whether output recovered after the Asian crisis; the value of a country's trading partners to its own economic growth; whether interdependence is a factor in understanding the spread of currency crises; can remittance payments from expatriates be a reliable source of capital for economic development?; total factor productivity; designing a VAT for the energy trade in Russia and Ukraine; and lastly, a discussion of the reasons for central bank intervention in ERM-I since 1993
Keywords:
SP; trading partner; worker remittance; TFP estimate; crisis probability; recession state; output loss; Exchange rates; Remittances; Conventional peg; Value-added tax; Total factor productivity; Global; Baltics; East Asia; Middle East; North Africa; Central Asia; Sub-Saharan Africa; Europe
Cover IMF Staff Papers
IMF Staff Papers, Volume 50, No. 1
Mr. Robert P Flood
Forty years ago, Marcus Fleming and Robert Mundell developed independent models of macroeconomic policy in open economies. Why do we link the two, and why do we call the result the Mundell-Fleming, rather than Fieming-Mundell model?
Keywords:
SP; monetary policy; tight monetary policy; models of Fleming; origins of the Fleming-Mundell; fiscal policy action; undervaluation episode; Mundelfs policy analysis; policy instrument; Real interest rates; Privatization; Monetary tightening; Inflation; Real exchange rates; Sub-Saharan Africa; Asia and Pacific; Middle East; East Africa; Central Africa
Cover IMF Staff Papers
IMF Staff Papers, Volume 48, Special Issue, Transition Economies, How Much Progress?
Mr. Richard D Haas
,
Mr. Oleh Havrylyshyn
, and
Ms. Ratna Sahay
This chapter is the collection of eight papers on different aspects of the first 10 years of economic transition. Transition issues have appeared initially quite controversial. There have been controversies on the speed of reforms, privatization methods, the role and organization of government, the kind of financial system needed, etc. Although these controversies often have been ideological, they also reflect to a large extent the initial ignorance and unpreparedness of the economics profession with respect to the large. Resident representatives in transforming economies have had a unique opportunity to witness and participate in one of the most interesting and challenging events of the economics profession in the past 50 years: the transformation of centrally planned economies into market-based systems. The job is intellectually fascinating, frequently extremely rewarding, occasionally frustrating, however, never boring. The decline in cash revenue in Russia has been the key macroeconomic policy failure of the transition. This paper argues that the fall in cash compliance emerged when money printing was replaced with a method of budget financing that did not, in the short run, compromise the government's goals of low inflation, a stable exchange rate, and low interest rates, but which ultimately has led the government into a low cash revenue trap.
Keywords:
SP; market economy; firm; transition economy; investment; CIS country; state firm; cash revenue; Foreign direct investment; Privatization; Portfolio investment; Currencies; Inflation; Europe; Central and Eastern Europe; Baltics; East Asia; Central Asia and the Caucasus
Cover IMF Staff Papers
IMF Staff papers, Volume 45 No. 2
International Monetary Fund. Research Dept.
This paper analyzes contagion and volatility with imperfect credit markets. The paper interprets contagion effects as an increase in the volatility of shocks impinging on the economy. The implications of this approach are analyzed in a model in which domestic banks borrow at a premium on world capital markets, and domestic producers borrow at a premium from domestic banks. Financial spreads depend on a markup that compensates lenders, in particular, for the expected cost of contract enforcement. Higher volatility increases financial spreads and the producers’ cost of capital.
Keywords:
SP; paper number; EU country; monetary policy; priority mail delivery; Visa credit cards; dollar wage; Public sector; Unemployment; Wages; Minimum wages; Job destruction; Baltics; Eastern Europe; Central and Eastern Europe; Global; Africa
Cover IMF Staff Papers
IMF Staff papers, Volume 41 No. 3
International Monetary Fund. Research Dept.
This paper focuses on the payments system reforms and monetary policy in emerging market economies in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and the instruments of monetary policy used by the central banks. The paper shows that although starting from similar origins, there were significant variations in experiences of the countries studied in transforming their payments systems after the start of the reforms toward a market economy, from which certain lessons can be drawn.
Keywords:
SP; priority mail delivery; IMF paper; Washington; D.C. 20431; yield curve differential; price movement; Currencies; Payment systems; Government debt management; Exchange rates; Inflation; Central and Eastern Europe; Europe; Maghreb; Global
Cover IMF Staff Papers
IMF Staff papers: Volume 41 No. 4
International Monetary Fund. Research Dept.
The paper presents a model of optimum currency areas using a general equilibrium approach with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies, factor mobility across regions, and the interrelationships between demand for different goods. It is found that, while a currency union can raise the welfare of the regions within the union, it unambiguously lowers welfare for those outside the union. [JEL F33, F36]
Keywords:
SP; currency union; lending rate; terms of trade; currency arrangement; arrangements in country; progress of economic reform; export tax breaks; exchange rate strategy; Monetary unions; Tariffs; Money markets; Consumption; Pensions; Sub-Saharan Africa; Central and Eastern Europe; Europe; Global; Eastern Europe