Search Results - subject:"Monetary aggregates"

Forecasting and Monetary Policy Analysis in Low-Income Countries; Food and non-Food Inflation in Kenya

Andrle, Michal; Berg, Andrew; Morales, R. Armando; … - International Monetary Fund (IMF) - 2013

We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for forecasting and monetary policy analysis in low-income countries and apply it to Kenya. We use the model to run several policy-relevant exercises. First, we filter international...

Persistent link: https://www.econbiz.de/10011242400

Money demand models for Russia: A sectoral approach

Krupkina, Anna; Ponomarenko, Alexey - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013

We estimate money demand models for certain monetary aggregates across different institutional sectors (a novelty for …

Persistent link: https://www.econbiz.de/10010818569

Making Monetary Policy More Effective: The Case of the Democratic Republic of the Congo

Fischer, Felix; Lundgren, Charlotte J.; Jahjah, Samir - International Monetary Fund (IMF) - 2013

The paper looks at the challenges of conducting monetary policy in a context of high dollarization of the banking system and weak institutions in the Democratic Republic of the Congo. The empirical analysis confirms the limited effectiveness of the Central Bank of Congo in controlling inflation,...

Persistent link: https://www.econbiz.de/10010790264

Monetary Transaction Costs and the Term Premium

Espinoza, Raphael A.; Tsomocos, Dimitrios P. - International Monetary Fund (IMF) - 2013

Central Bank and the liquidity of assets and commodities. As a result, monetary aggregates are informative for the conduct of …

Persistent link: https://www.econbiz.de/10010790281

Money Targeting in a Modern Forecasting and Policy Analysis System: an Application to Kenya

Andrle, Michal; Berg, Andrew; Berkes, Enrico; Portillo, … - International Monetary Fund (IMF) - 2013

We extend the framework in Andrle and others (2013) to incorporate an explicit role for money targets and target misses in the analysis of monetary policy in low-income countries (LICs), with an application to Kenya. We provide a general specification that can nest various types of money...

Persistent link: https://www.econbiz.de/10010790361

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...

Persistent link: https://www.econbiz.de/10010790430

Monetary Policy and Balance Sheets

Igan, Deniz; Kabundi, Alain N.; Simone, Francisco Nadal-De - International Monetary Fund (IMF) - 2013

This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Augmented Vector Autoregression model on an expanded data set, including sectoral balance sheet variables, we show that the balance sheets...

Persistent link: https://www.econbiz.de/10010790431

International Monetary Transmission to the Euro Area: Evidence from the US, Japan and China

Vespignani, Joaquin L.; Ratti, Ronald A. - School of Economics and Finance, Tasmanian School of … - 2013

There are marked differences in the effect of increases in monetary aggregates in China, Japan and the U.S. on Euro … area economic and financial variables over 1999-2012. Increases in monetary aggregates in China are associated with … Euro area economy. In contrast, increases in monetary aggregates in Japan are associated with significant appreciation of …

Persistent link: https://www.econbiz.de/10010905838

Chinese Monetary Expansion and the US Economy

Vespignani, Joaquin L.; Ratti, Ronald A. - School of Economics and Finance, Tasmanian School of … - 2013

This paper examines the influence of monetary shocks in China on the U.S. economy over 1996-2012. The influence on the U.S. is through the sheer scale of China’s growth through effects in demand for imports, particularly that of commodities. China’s growth influences world commodity/oil...

Persistent link: https://www.econbiz.de/10010905849

Examining the role of monetary aggregates in China

Sánchez-Fung, José R - In: Economics Bulletin 33 (2013) 2, pp. 1290-1299

The paper examines the relative significance of monetary aggregates and interest rates in China using the information …

Persistent link: https://www.econbiz.de/10010835816