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Abdih, Yasser - 2006

We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to investigate the behavior of the real effective exchange rates of the two monetary unions of the CFA franc zone (CEMAC and WAEMU) vis-agrave;-vis their long-run equilibrium paths. For...

Persistent link: https://www.econbiz.de/10012779100

Monetary Transmission Mechanisms in Belarus

Maino, Rodolfo - 2007

inflation. We discuss dollarization, administrative interventions, and other features complicating monetary policy transmission …

Persistent link: https://www.econbiz.de/10012778204

Patterns in IMF Growth Forecast Revisions : A Panel Study at Multiple Horizons

Hadzi-Vaskov, Metodij; Ricci, Luca Antonio; Werner, … - 2022

This paper investigates the performance of the IMF WEO growth forecast revisions across different horizons and country groups. We find that: (i) growth revisions in horizons closer to the actual are generally larger, more volatile, and more negative; (ii) on average, growth revisions are in the...

Persistent link: https://www.econbiz.de/10013300855

Here Comes the Change : The Role of Global and Domestic Factors in Post-Pandemic Inflation in Europe

Binici, Mahir; Centorrino, Samuele; Cevik, Serhan; … - 2022

Global inflation has surged to 7.5 percent in August 2022, from an average of 2.1 percent in the decade preceding the … factors to the post-pandemic rise in consumer price inflation, using monthly data and a battery of econometric methodologies … inflation dynamics throughout Europe, country-specific factors, including monetary and fiscal policy responses to the crisis …

Persistent link: https://www.econbiz.de/10014264538

Inflation and Monetary Policy in a Low-Income and Fragile State : The Case of Guinea

Carrière-Swallow, Yan; Koumtingué, Nelnan Fidèle; … - 2023

Inflation in low-income countries is often high and volatile, driven by external shocks. In addition, inflation in … stability. We estimate the drivers of inflation in Guinea since the early 2000s, a period in which the country suffered major … shocks from pandemics, commodity price movements, and multiple military coups, and during which inflation averaged 12 percent …

Persistent link: https://www.econbiz.de/10014355052

Credit Booms and Macroeconomic Dynamics : Stylized Facts and Lessons for Low-Income Countries

Arena, Marco - 2015

Using a comprehensive database on bank credit, covering 135 developing countries over the period 1960–2011, we identify, document, and compare the macro-economic dynamics of credit booms across low- and middle-income countries. The results suggest that while the duration and magnitude of...

Persistent link: https://www.econbiz.de/10013027670

Central and Commercial Bank Balance Sheet Risk Before, During, and after the Global Financial Crisis

Crowley, Joe - 2015

This paper presents an overview of exposures in the balance sheets of central banks, banks, and other depository institutions during the past decade, with emphasis on asset growth and currency composition. It exploits the IMF's SRF-based monetary data to show: (i) there was a widely observed...

Persistent link: https://www.econbiz.de/10013025485

Predicting Macroeconomic and Macrofinancial Stress in Low-Income Countries

Weisfeld, Hans; Carvalho Filho, Irineu de; Comelli, Fabio; … - 2021

In recent years, Fund staff has prepared cross-country analyses of macroeconomic vulnerabilities in low-income countries, focusing on the risk of sharp declines in economic growth and of debt distress. We discuss routes to broadening this focus by adding several macroeconomic and macrofinancial...

Persistent link: https://www.econbiz.de/10013250073

Increasing Productivity Growth in Middle Income Countries

Abdychev, Aidar - 2015

Many small middle-income countries (SMICs) in sub-Saharan Africa (SSA) have experienced a moderation in growth in recent years. Although factor accumulation, most notably capital deepening, was crucial to the success of many SMICs historically, this growth model appears to have run its course....

Persistent link: https://www.econbiz.de/10013028660

The Sources of Business Cycles in a Low Income Country

Houssa, Romain - 2015

We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shocks. We identify the shocks with a combination of sign and recursive restrictions...

Persistent link: https://www.econbiz.de/10013025500