Search Results - subject:"Monetary aggregates"

Monetary and Exchange Rate Policies in Colombia; Progress and Challenges

Clavijo, Sergio - International Monetary Fund (IMF) - 2004

This paper focuses on monetary and exchange rate policies in Colombia, with particular emphasis on the period 1999-2002, when flotation of the peso and inflation targeting were adopted. We argue, first, in favor of adopting "operational inflation target ranges" and, second, in favor of...

Persistent link: https://www.econbiz.de/10005264192

Currency Substitution and the Demand for Money in Five European Union Countries

Yildirim, Julide - 2003

aggregates. Thus, extended monetary aggregates that include the relevant CBDs are defined in this study. In order to investigate … aggregates for five EU countries are defined in addition to EU-wide monetary aggregates. The estimated EU-wide demand for …. Currency substitution usually takes the form of cross border deposits (CBD), which are not included in the traditional monetary …

Persistent link: https://www.econbiz.de/10009445695

Money as an indicator variable for monetary policy when money demand is forward looking

Kajanoja, Lauri - 2003

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty.We use a forward and backward looking model, calibrated for the euro area.The policymaker cannot completely observe the state of the economy. Money reveals some of the private...

Persistent link: https://www.econbiz.de/10012147873

Samoa; 2003 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Samoa

International Monetary Fund (IMF); International … - 2003

This 2003 Article IV Consultation highlights that Samoaâ€™s GDP growth slowed to 1.9 percent in 2001/02. This slowdown reflected mainly a steep decline in agriculture and a sharp contraction in construction activity. Although underlying inflation has remained low, headline inflation...

Persistent link: https://www.econbiz.de/10005591631

The Kingdom of the Netherlands-Aruba; 2002 Article TV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2003

This 2002 Article IV Consultation for the Kingdom of the Netherlandsâ€”Aruba highlights that after growing at more than 4 percent per year in 1996â€“2000, the Aruba economy experienced two years of retrenchment, with GDP falling an estimated 1.2 percent in 2001 and 3.8 percent in 2002....

Persistent link: https://www.econbiz.de/10005768489

Pick Your Poison; The Exchange Rate Regime and Capital Account Volatility in Emerging Markets

Iwata, Shigeru; Tanner, Evan - International Monetary Fund (IMF) - 2003

We characterize a country's exchange rate regime by how its central bank channels a capital account shock across three variables: exchange depreciation, interest rates, and international reserve flows. Structural vector autoregression estimates for Brazil, Mexico, and Turkey reveal such...

Persistent link: https://www.econbiz.de/10005769109

Determinants of Inflation in a Transition Economy; The Case of Ukraine

Lissovolik, Bogdan - International Monetary Fund (IMF) - 2003

This paper examines determinants of inflation in Ukraine during 1993-2002 in a cointegrating framework. Two basic theoretical models-a markup and a money market model-are tested. While broad money is cointegrated with the CPI for the whole sample and for early subsamples, the cointegration...

Persistent link: https://www.econbiz.de/10005769158

Inflation Targeting Lite

Stone, Mark R. - International Monetary Fund (IMF) - 2003

Inflation targeting lite (ITL) countries float their exchange rate and announce an inflation target, but are not able to maintain the inflation target as the foremost policy objective. This paper identifies 19 emerging market countries as practitioners of ITL. They seem to focus mainly on...

Persistent link: https://www.econbiz.de/10005769176

Fiscal Deficits and Inflation

Catão, Luis; Terrones, Marco - International Monetary Fund (IMF) - 2003

Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a new modeling approach that incorporates two key features of the theory. Unlike...

Persistent link: https://www.econbiz.de/10005769323

Currency Substitution and the Demand for Money in Five European Union Countries

Yildirim, Julide - In: Journal of Applied Economics VI (2003) November, pp. 361-383

Persistent link: https://www.econbiz.de/10005627103