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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 …

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

Monetary Transmission Mechanisms in Belarus

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

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

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

Dollarization, Monetary Policy, and the Pass-Through

Ize, Alain; Parrado, Eric - International Monetary Fund (IMF) - 2002

This paper explores how real dollarization (dollar indexing of wages), financial dollarization (dollar denomination of … shocks. Real dollarization is avoided as long as the home monetary authorities conduct monetary policy optimally (maximize … local welfare). Suboptimal monetary policies are more likely to induce real dollarization when the correlation between …

Persistent link: https://www.econbiz.de/10005826531

The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies

Borensztein, Eduardo; Berg, Andrew - International Monetary Fund (IMF) - 2000

We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information …

Persistent link: https://www.econbiz.de/10005264031

Overshooting and Dollarization in the Democratic Republic of the Congo

Beaugrand, Philippe - International Monetary Fund (IMF) - 2003

calibrated for the Democratic Republic of the Congo in the 1990s and is used to derive estimates of the rate of dollarization. …

Persistent link: https://www.econbiz.de/10005264134

Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area

Quint, Dominic; Rabanal, Pau - International Monetary Fund (IMF) - 2013

In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential policy can play a role. We find that the introduction of a...

Persistent link: https://www.econbiz.de/10010790358

Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy; The Case of Georgia

Billmeier, Andreas; Mathisen, Johan - International Monetary Fund (IMF) - 2006

-high level of dollarization continues to create financial vulnerabilities, but that the overall level of currency mismatch has …

Persistent link: https://www.econbiz.de/10005825889

Foreign Currency Deposits and International Liquidity Shortages in Pakistan

Mirakhor, Abbas; Zaidi, Iqbal Mehdi - International Monetary Fund (IMF) - 2004

This paper studies the implications of foreign currency deposits (FCDs) for international liquidity shortages in Pakistan. The analysis focuses on how the large volume of FCDs and the specific institutional characteristics of those deposits have made the Pakistan economy highly vulnerable to...

Persistent link: https://www.econbiz.de/10005826483

Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions

Saborowski, Christian; Weber, Sebastian - International Monetary Fund (IMF) - 2013

We employ a structural panel VAR model with interaction terms to identify determinants of effective transmission from central bank policy rates to retail lending rates in a large country sample. The framework allows deriving country specific pass-through estimates broken down into the...

Persistent link: https://www.econbiz.de/10011123851

The Monetary Transmission Mechanism in the Tropics; A Narrative Approach

Berg, Andrew; Charry, Luisa; Portillo, Rafael A; Vlcek, Jan - International Monetary Fund (IMF) - 2013

Many central banks in low-income countries in Sub-Saharan Africa are modernising their monetary policy frameworks. Standard statistical procedures have had limited success in identifying the channels of monetary transmission in such countries. Here we take a narrative approach, following Romer...

Persistent link: https://www.econbiz.de/10011242205