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Imf Staff Papers Volume 41 No 3
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Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451973306 Total Pages :158 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers, Volume 41 No. 3 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers, Volume 41 No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1994-01-01 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the payments system reforms and monetary policy in emerging market economies in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and the instruments of monetary policy used by the central banks. The paper shows that although starting from similar origins, there were significant variations in experiences of the countries studied in transforming their payments systems after the start of the reforms toward a market economy, from which certain lessons can be drawn.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451957033 Total Pages :181 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers, Volume 41 No. 1 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers, Volume 41 No. 1 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1994-01-01 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines effects of economic growth and speed of adjustment on openness, human development, and fiscal policies. The model developed in this paper postulates that learning through experience raises labor productivity with three major consequences. First, the steady-state growth rate of output becomes endogenous and is influenced by government policies. Second, the speed of adjustment to steady-state growth increases and enhanced learning further reduces adjustment time. Third, both steady-state growth and the optimal net rate of return to capital are higher than the sum of the exogenous rates of technical change and population growth.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :145194716X Total Pages :217 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1994-01-01 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Primary commodities still account for the bulk of exports in many developing countries. However, real commodity prices have been declining almost continuously since the early 1980s. The appropriate policy response to a terms of trade shock depends importantly on whether the shock is perceived to be temporary or permanent. Our results indicate that the recent weakness in commodity prices is mostly secular, stressing the need for commodity exporting countries to concentrate on export diversification and other structural policies. There is, however, scope for stabilization funds and the use of hedging strategies, since the evidence also suggests commodity prices have become more volatile.
Book Synopsis IMF Staff Papers, Vol. 49 by : International Monetary Fund
Download or read book IMF Staff Papers, Vol. 49 written by International Monetary Fund and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451960115 Total Pages :136 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1954-01-01 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a study on economic development with stability in India. While the Five-Year Plan occupies the central position as the means through which the Government of India proposes to deal with the basic economic problem, it must be implemented by many specific economic and social measures. It is of the utmost importance that the measures taken in various fields should not only contribute to the fulfilment of the Five-Year Plan but that they should form part of a consistent economic and social policy. Apart from the change in total foreign investment, the composition of foreign investment in India now includes a larger proportion of direct and a smaller proportion of fixed interest obligations than before the war. While India's official sterling debt has been practically wiped out, the Government of India has incurred new obligations in dollars. If India could meet its pre-war obligations on foreign investment without any great strain on its balance of payments, it should be able to meet future obligations, resulting from any new debts, provided its balance of payments position in the future is not materially worse than in the past.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451973039 Total Pages :228 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1989-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. The causes of such changes for the high-inflation episodes immediately preceding the recent “heterodox” attempts at stabilization in Argentina, Brazil, and Israel are examined by computing historical decompositions of these episodes based on vector autoregressions, distinguishing between the “fiscal” and “balance of payments” views of their causes. In all three cases, nominal exchange rate shocks played the dominant role in triggering an acceleration of inflation. [JEL 134]
Book Synopsis Staff Guidance Note on Macroprudential Policy by : International Monetary Fund
Download or read book Staff Guidance Note on Macroprudential Policy written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-06-11 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451973136 Total Pages :236 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1991-01-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade liberalization in developing countries is frequently opposed on the grounds that, because it is likely to cause a deterioration in the external balance, it may not be a viable policy option for countries facing foreign exchange constraints. Recent literature suggests, however, an ambiguous relationship between tariff changes and the current account. This paper shows that if liberalization involves reducing tariffs on imported intermediate inputs (a reform that has figured prominently in developing countries), then the current account may improve or deteriorate, depending on the level of initial trade distortions and the structure of the economy.[JEL F13, F32, F41]
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451949421 Total Pages :191 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1953-01-01 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the causes of the imbalance of international payments. Under the forces of supply and demand, gold came to have a certain value in relation to goods, which enabled it to function smoothly as a medium of reserve and settlement. This value varied somewhat from time to time under the influence of new discoveries or the exhaustion of existing sources. Of all the particular imbalances in the international payments pattern, that between the dollar and other currencies is the greatest. Unfortunately, it is extremely difficult to measure the amount of imbalance existing. Europe has made considerable and, to some extent, successful efforts to expand direct sales to the United States. It is in the sphere of finished manufactures principally that one could hope for an expansion of exports by an organized export drive or currency devaluation, other categories of goods depending more on the level of US production and national income.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1589066510 Total Pages :212 pages Book Rating :4.5/5 (89 download)
Book Synopsis IMF Staff Papers, Volume 54, No. 3 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 54, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2007-05-30 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue features a timely paper by Vladimir Klyuev and Paul Mills on the role of personal wealth and home equity withdrawal in the decline in the U.S. saving rate. Lusine Lusinyan and Leo Bonato explain how work absence in 18 European countries affects labor supply and demand. And a paper by Paolo Manasse (University of Bologna) entitled "Deficit Limits and Fiscal Rules for Dummies" examines fiscal frameworks.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451972881 Total Pages :256 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1986-01-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how the effects of fiscal policies are transmitted internationally. The analysis emphasizes that fiscal shifts of recent years constitute major disturbances to saving and investment flows. An increase in a country's fiscal deficit corresponds to a higher level of public sector dissaving. For increased foreign saving to enter through the capital account, the current account deficit must rise via an appreciating real exchange rate. An autonomous rise in investment, such as that induced by US tax measures passed in 1981–1982, produces qualitatively similar effects in the short run. Simulations suggest that a permanent fiscal deficit reduction of 1 percent of capacity output in any one of the three largest industrial countries produces a significant decline in real interest rates and a large initial depreciation in that country's currency. US tax incentives for investment would induce higher interest rates and an appreciated dollar. Simulations of the combined effects of increased US investment and observed movements in inflation-adjusted deficits in all three countries in 1981–1985 suggest that substantial fractions of these interest and exchange rate movements were related to shifts in fiscal policy.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :145195624X Total Pages :193 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Foreword to the first issue: “Among the responsibilities of the International Monetary Fund, as set forth in the Articles of Agreement, is the obligation to ‘act as a center for the collection and exchange of information on monetary and financial problems,’ and thereby to facilitate ‘the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.’ The publications of the Fund are one way in which this responsibility is discharged. “Through the publication of Staff Papers, the Fund is making available some of the work of members of its staff. The Fund believes that these papers will be found helpful by government officials, by professional economists, and by others concerned with monetary and financial problems. Much of what is now presented is quite provisional. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the Fund.” The authors of the papers in this issue have received considerable assistance from their colleagues on the staff of the Fund. This general statement of indebtedness may be accepted in place of a detailed list of acknowledgments. Subscription: US$6.00 a volume or the approximate equivalent in the currencies of most countries. Three numbers constitute a volume. Single copies may be purchased at $2.50. Special rate to university libraries, faculty members, and students: $3.00 a volume; $1.00 a single copy. Subscriptions and orders should be sent to: THE SECRETARY International Monetary Fund 19th and H Streets, N.W. Washington, D. C. 20431
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :9781589063518 Total Pages :216 pages Book Rating :4.0/5 (635 download)
Book Synopsis IMF Staff Papers, Volume 51, No. 3 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 51, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2004-11-23 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper tests uncovered interest parity (UIP) using interest rates on longer maturity bonds for the Group of Seven countries. These long-horizon regressions yield much more support for UIP—all of the coefficients on interest differentials are of the correct sign, and almost all are closer to the UIP value of unity than to zero. The paper also analyzes the decision by a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451968655 Total Pages :181 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1958-01-01 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores wage-price link in a prolonged inflation. A fixed tie between wages and prices must have significant effects in any economy. A wage-price link of the type discussed in this paper assumes that wages will be adjusted for any rise in consumer prices, subject to certain safeguards. This will protect wage earners against any significant fall in real wages arising from investment inflation. For a free economy, in which economic adjustments are induced by changes in prices and wages, the imposition of the degree of rigidity implied by this association is of far-reaching importance. in several countries, the use of wage-price links is a consequence of the fear of labor that real wages will be adversely affected by inflation. Although the basic causes of inflation vary widely in different countries and at different times, the process of inflation always shows similar characteristics. In an economy which is functioning properly, the distribution and use of the gross national product should result in an aggregate demand for goods and services that tend to equal the available supply of goods and services at approximately stable prices.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451930887 Total Pages :176 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1994-01-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper presents a model of optimum currency areas using a general equilibrium approach with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies, factor mobility across regions, and the interrelationships between demand for different goods. It is found that, while a currency union can raise the welfare of the regions within the union, it unambiguously lowers welfare for those outside the union. [JEL F33, F36]
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451972709 Total Pages :138 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1982-01-01 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects of the emergence of the United Kingdom as a major oil producer, together with the pursuit of firm financial policies as part of an anti-inflation strategy, has had on the UK economy and, in particular, on the real exchange rate of the pound sterling, which appreciated by 45 percent between 1977 and late 1981. The build-up of North Sea oil production and the rise in the real price of oil have led to a significant change in the structure of the UK economy. A small dynamic macro model of the United Kingdom has been constructed to assess the quantitative importance of North Sea oil production on the economy as well as the main effects of the anti-inflation strategy. The results indicate that both direct and indirect effects of oil production on the real exchange rate and, consequently, on the manufacturing sector are large. The results also indicate that a policy of financial restraint would be successful in reducing inflation, although its costs in the short term would be high, largely because inflation expectations do not appear to adjust rapidly.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :9781589061224 Total Pages :260 pages Book Rating :4.0/5 (612 download)
Book Synopsis IMF Staff Papers, Volume 49, No. 3 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 49, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2002-09-23 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay during 1975–98. Cointegration analysis and error correction modeling are used to research two issues: (i) whether money demand stability is threatened by banking crises; and (ii) whether crises lead to structural breaks in the relation between monetary indicators and prices. Overall, no systematic evidence that banking crises cause money demand instability is found. The paper also analyzes inflation targeting in the context of the IMF-supported adjustment programs.
