Search Results - subject:"Monetary policy instruments"

Monetary Transmission Mechanisms in Belarus

Maino, Rodolfo; Horváth, Balázs - International Monetary Fund (IMF) - 2006

We explore monetary policy transmission by estimating VAR impulse response functions to illustrate the Belarusian economy's response to unexpected changes in policy and exogenous variables. We find a significant exchange rate pass-through to prices, and interest rate policy following, rather...

Persistent link: https://www.econbiz.de/10005825964

Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa

Saxegaard, Magnus - International Monetary Fund (IMF) - 2006

This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...

Persistent link: https://www.econbiz.de/10005826003

A Framework for Independent Monetary Policy in China

Goodfriend, Marvin; Prasad, Eswar - International Monetary Fund (IMF) - 2006

As China's economy becomes more market based and continues its rapid integration into the global economy, having an independent and effective monetary policy regime oriented to domestic objectives will become increasingly important. Employing modern principles of monetary policy in light of the...

Persistent link: https://www.econbiz.de/10005826023

Measures of Central Bank Autonomy; Empirical Evidence for OECD, Developing, and Emerging Market Economies

Segalotto, Jean-François; Arnone, Marco; Laurens, Bernard - International Monetary Fund (IMF) - 2006

This paper presents an update of the Grilli-Masciandaro-Tabellini (GMT) index of central bank (CB) autonomy, based on CB legislation as of end-2003. The index is applied to a set of OECD and developing countries, and emerging market economies. For a smaller set of countries, the paper presents a...

Persistent link: https://www.econbiz.de/10005826057

Monetary Policy in China (1994-2004) : Targets, Instruments and their Effectiveness

Geiger, Michael - Wirtschaftswissenschaftliche Fakultät, Bayerische … - 2006

China's monetary policy disposes of two sets of monetary policy instruments: Instruments of the central bank, the … People's Bank of China (PBC) and non-monetary policy instruments. Additionally, the PBC's instruments include price … quantity-based direct instruments and non-monetary policy instruments question the approach of indirect monetary policy in …

Persistent link: https://www.econbiz.de/10009226043

Republic of Belarus; Financial Sector Assessment Program: Technical Note -Transparency of Monetary Policy and Banking Supervision

International Monetary Fund (IMF); International … - 2006

This technical note on Transparency of Monetary Policy on the Republic of Belarus highlights the open process for formulating and reporting of monetary policy discussions. The National Bank of the Republic of Belarus (NBRB) displays a satisfactory degree of transparency in formulation and...

Persistent link: https://www.econbiz.de/10011245580

An analysis of federal government expenditure and monetary policy on agricultural output in Nigeria

Akintunde, Yusuf Wasiu; Adesope, A. A. A.; Okoruwa, V. O. - In: International journal of economics, finance and … 1 (2013) 6, pp. 310-317

Persistent link: https://www.econbiz.de/10010341532

Socialist People's Libyan Arab Jamahiriya 2004 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion.

International Monetary Fund (IMF); International … - 2005

This 2004 Article IV Consultation highlights that the Libyan economy remains largely state controlled and heavily dependent on the oil sector. Since the lifting of the Libya-specific trade sanctions of the United Nation and United States in September 2003 and September 2004, respectively, the...

Persistent link: https://www.econbiz.de/10005591207

Suriname; 2004 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Suriname

International Monetary Fund (IMF); International … - 2005

This 2004 Article IV Consultation highlights that tighter fiscal and monetary policies in Suriname helped stabilize the exchange rate and moderate inflation pressures in 2003 and 2004. The fiscal deficit narrowed from 6.5 percent of GDP in 2002 to near balance in 2003, while a tighter monetary...

Persistent link: https://www.econbiz.de/10005591814

On Target? the International Experience with Achieving Inflation Targets

Roger, Scott; Stone, Mark R. - International Monetary Fund (IMF) - 2005

This paper examines the international experience with full-fledged inflation targeting monetary regimes. Stylized facts are brought together from a review of the institutional elements of inflation targeting frameworks, a comparison of actual and targeted inflation outcomes, and case studies of...

Persistent link: https://www.econbiz.de/10005599276