Three Essays on Incomplete Exchange Rate Pass-through, Monetary Policy and Province Border Effects
Author : Wei Chen
Publisher :
Page : 284 pages
File Size : 11,36 MB
Release : 2004
Category :
ISBN :
An Empirical Assessment of the Exchange Rate Pass-through in Mozambique
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 34 pages
File Size : 41,72 MB
Release : 2021-05-06
Category : Business & Economics
ISBN : 1513573691
Book Description
Determining the magnitude and speed of the exchange rate passthrough (ERPT) to inflation has been of paramount importance for policy-makers in developed and emerging economies. This paper estimates the exchange rate passthrough in Mozambique using econometric techniques on a sample spanning from 2001 to 2019. Results suggest that the ERPT is assymetric, sizable and fast, with 50 percent of the exchange rate variations passing through to prices in less than six months. Policy-makers should continue to pursue low and stable inflation and develop a strong track record of prudent macroeconomic policies for the ERPT to decline.
Monetary Policy Transmission in Emerging Markets and Developing Economies
Author : Mr.Luis Brandao-Marques
Publisher : International Monetary Fund
Page : 54 pages
File Size : 48,64 MB
Release : 2020-02-21
Category : Business & Economics
ISBN : 1513529730
Book Description
Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
Parallel Currency Markets in Developing Countries
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 52 pages
File Size : 23,52 MB
Release : 1990-12-01
Category : Business & Economics
ISBN : 1451943229
Book Description
The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy —including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets— in countries with a sizable parallel market are also examined.
Global Waves of Debt
Author : M. Ayhan Kose
Publisher : World Bank Publications
Page : 403 pages
File Size : 15,29 MB
Release : 2021-03-03
Category : Business & Economics
ISBN : 1464815453
Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Changing Patterns of Global Trade
Author : Nagwa Riad
Publisher : International Monetary Fund
Page : 87 pages
File Size : 39,92 MB
Release : 2012-01-15
Category : Business & Economics
ISBN : 1463973101
Book Description
Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
Monetary and Exchange System Reforms in China
Author : Mr.Bernard Laurens
Publisher : International Monetary Fund
Page : 108 pages
File Size : 12,39 MB
Release : 1996-09-26
Category : Business & Economics
ISBN : 9781557755629
Book Description
In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
The External Balance Assessment (EBA) Methodology
Author : Mr.Steven Phillips
Publisher : International Monetary Fund
Page : 68 pages
File Size : 11,30 MB
Release : 2014-01-13
Category : Business & Economics
ISBN : 1484346785
Book Description
The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing between the positive empirical analysis and the normative assessment of current accounts and exchange rates, and highlights the roles of policies and policy distortions. This paper provides a comprehensive description and discussion of the 2013 version (“2.0”) of the EBA methodology, including areas for its further development.
Model Rules of Professional Conduct
Author : American Bar Association. House of Delegates
Publisher : American Bar Association
Page : 216 pages
File Size : 28,85 MB
Release : 2007
Category : Law
ISBN : 9781590318737
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Transparency in Government Operations
Author : Mr.J. D. Craig
Publisher : International Monetary Fund
Page : 50 pages
File Size : 21,52 MB
Release : 1998-02-03
Category : Business & Economics
ISBN : 155775697X
Book Description
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
