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Inflation Dynamics and Monetary Policy Transmission in Vietnam and Emerging Asia
Bhattacharya, Rina - International Monetary Fund (IMF) - 2013
This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and … uses empirical analysis to answer two key questions: (i) what are the key drivers of inflation in Vietnam, and what role … does monetary policy play? and (ii) why has inflation in Vietnam been persistently higher than in most other emerging …
Persistent link: https://www.econbiz.de/10010790430
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Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model
Anderson, Derek; Hunt, Ben; Kortelainen, Mika; Kumhof, … - International Monetary Fund (IMF) - 2013
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the GIMF, this paper illustrates the model’s...
Persistent link: https://www.econbiz.de/10011242434
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DSGE Modeling At the Fund; Applications and Further Developments
Botman, Dennis P. J.; Rose, David; Laxton, Douglas; … - International Monetary Fund (IMF) - 2007
Economy Model is a quarterly model that features a large assortment of nominal and real rigidities, which are necessary to …
Persistent link: https://www.econbiz.de/10005826064
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Monetary and Fiscal Policy Options for Dealing with External Shocks; Insights from the GIMF for Colombia
Flores, Enrique; Leigh, Daniel; Clements, Benedict J. - International Monetary Fund (IMF) - 2009
This paper utilizes an open-economy New Keynesian overlapping generations model, the Global Integrated Monetary and … responsive monetary policy, the economy is well poised to adjust to different external shocks. They also suggest that the …
Persistent link: https://www.econbiz.de/10005826520
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Afghanistan; Balancing Social and Security Spending in the Context of Shrinking Resource Envelope
Aslam, Aqib; Berkes, Enrico; Fukac, Martin; Menkulasi, Jeta - International Monetary Fund (IMF) - 2013
potential. Cutting expenditures balances public finances, but causes the economy to permanently shrink. Debt financing helps to … preserve much of the economy size but can jeopardize the sustainability of public finances. …
Persistent link: https://www.econbiz.de/10011242233
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Sovereign Risk and Belief-Driven Fluctuations in the Euro Area
Corsetti, Giancarlo; Kuester, Keith; Meier, André; … - International Monetary Fund (IMF) - 2013
Sovereign risk premia in several euro area countries have risen markedly since 2008, driving up credit spreads in the private sector as well. We propose a New Keynesian model of a two-region monetary union that accounts for this “sovereign risk channel.” The model is calibrated to the euro...
Persistent link: https://www.econbiz.de/10010790357
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Cyclical Fiscal Rules for Oil-Exporting Countries
Snudden, Stephen - International Monetary Fund (IMF) - 2013
Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Using a global DSGE model, the efficient design of such rules is found to depend on...
Persistent link: https://www.econbiz.de/10010790379
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The Benefits of International Policy Coordination Revisited
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas; Muir, Dirk - International Monetary Fund (IMF) - 2013
This paper uses two of the IMF’s DSGE models to simulate the benefits of international fiscal and macroprudential policy coordination. The key argument is that these two policies are similar in that, unlike monetary policy, they have long-run effects on the level of GDP that need to be...
Persistent link: https://www.econbiz.de/10011142005
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Hitchhiker’s Guide to Inflation in Libya
Cevik, Serhan; Teksoz, Katerina - International Monetary Fund (IMF) - 2013
This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the econometric results indicate that government...
Persistent link: https://www.econbiz.de/10011142009
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Central Banks Quasi-Fiscal Policies and Inflation
Park, Seok Gil - International Monetary Fund (IMF) - 2012
Although central banks have recently taken unconventional policy actions to try to shore up macroeconomic and financial stability, little theory is available to assess the consequences of such measures. This paper offers a theoretical model with which such policies can be analyzed. In...
Persistent link: https://www.econbiz.de/10009650632