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Monetary Policy Strategies For Latin America
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Book Synopsis Monetary Policy Strategies for Latin America by : Frederic S. Mishkin
Download or read book Monetary Policy Strategies for Latin America written by Frederic S. Mishkin and published by World Bank Publications. This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Instead of focusing the debate about the conduct of monetary policy on whether the nominal exchange rate should be fixed or flexible, the focus should be on whether the monetary policy regime appropriately constrains discretion in monetary policymaking. Three frameworks deserve serious discussion as possible long-run strategies for monetary policy in Latin America. A hard exchange-rate peg, monetary targeting, and inflation targeting.
Book Synopsis Monetary Policy Strategies for Latin America by : Frederic S. Mishkin
Download or read book Monetary Policy Strategies for Latin America written by Frederic S. Mishkin and published by . This book was released on 2016 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Instead of focusing the d ...
Book Synopsis Foreign Exchange Intervention in Inflation Targeters in Latin America by : Mr.Marcos d Chamon
Download or read book Foreign Exchange Intervention in Inflation Targeters in Latin America written by Mr.Marcos d Chamon and published by International Monetary Fund. This book was released on 2019-02-28 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate regimes. The Latin American experience can be informative because some of its largest countries adopted floating exchange rate regimes and inflation targeting while continuing to intervene in foreign exchange markets. This edited volume reviews detailed accounts from several Latin American countries’ central banks, and it provides insight into how and with what aim many interventions were decided and implemented. This book documents the effectiveness of intervention and pays special attention to the role of foreign exchange intervention policy within inflation-targeting monetary frameworks. The main lesson from Latin America’s foreign exchange interventions, in the context of inflation targeting, is that the region has had a considerable degree of success. Transparency and a clear communication policy have been key. For economies that are not highly dollarized, rules-based intervention helped contain financial instability and build international reserves while preserving inflation targets. The Latin American experience can help other countries in the design and implementation of their policies.
Book Synopsis A Monetary Policy for Latin America by : Pierre Uri
Download or read book A Monetary Policy for Latin America written by Pierre Uri and published by Greenwood. This book was released on 1968 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Challenges in Latin America by : Fernando Toledo
Download or read book Monetary Policy Challenges in Latin America written by Fernando Toledo and published by Edward Elgar Publishing. This book was released on 2023-10-06 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This ground-breaking book analyses the severe monetary policy challenges facing Latin American countries. Contributors reflect on how these issues should be addressed by policy-makers, identifying the need for a synergic response from regional central banks.
Book Synopsis Economic Policy and Stabilization in Latin America by : Nader Nazmi
Download or read book Economic Policy and Stabilization in Latin America written by Nader Nazmi and published by M.E. Sharpe. This book was released on 1995-12-20 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of economic policy in Latin America. The text utilises six case studies, and features the economic policies of the 1990s, mathematical and statistical modelling, and a review of competing paradigms.
Book Synopsis Resilience in Latin America by : Mr.Jose De Gregorio
Download or read book Resilience in Latin America written by Mr.Jose De Gregorio and published by International Monetary Fund. This book was released on 2013-12-20 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and fiscal expansion, exchange rate flexibility, a strong and well--regulated financial system, high level of reserves, and a bit of luck coming from very high terms of trade, were central to good economic performance. Persevering along the road of strong macroeconomic and financial policies is necessary, but not sufficient, to go from recovery to sustained growth.
Book Synopsis An Evaluation of Monetary Regime Options for Latin America by : Andrew Berg
Download or read book An Evaluation of Monetary Regime Options for Latin America written by Andrew Berg and published by International Monetary Fund. This book was released on 2002-12 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: We assess monetary regime options for Latin American countries. The costs of a common currency are likely to outweigh its benefits, as those countries face diverse economic shocks, do not trade much with each other, and are affected by common international financial shocks only to the same extent as the average pair of emerging markets. Unilateral dollarization would be desirable only for those countries where there are strong links to the U.S. economy, the credibility of the monetary authorities is irreversibly lost, and there is keen demand for dollar-denominated financial assets. Finally, some countries in the region seem to be good candidates for meaningful and useful floating.
Book Synopsis Central Banks and Monetary Regimes in Emerging Countries by : Fernando Ferrari-Filho
Download or read book Central Banks and Monetary Regimes in Emerging Countries written by Fernando Ferrari-Filho and published by Edward Elgar Publishing. This book was released on 2023-01-17 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the recent trends of monetary policy in Latin America. It analyzes how the actions of central banks and the monetary regimes of some Latin American countries have affected the economic performance of these countries, mainly in response to the international financial crisis (IFC) and COVID-19 crisis.
Book Synopsis Central Banking in Latin America by : Mr.Yan Carriere-Swallow
Download or read book Central Banking in Latin America written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2016-09-30 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin America’s central banks have made substantial progress towards delivering an environment of price stability that is supportive of sustainable economic growth. We review these achievements, and discuss remaining challenges facing central banking in the region. Where inflation remains high and volatile, achieving durable price stability will require making central banks more independent. Where inflation targeting regimes are well-established, remaining challenges surround assessments of economic slack, the communication of monetary policy, and clarifying the role of the exchange rate. Finally, macroprudential policies must be coordinated with existing objectives, and care taken to preserve the primacy of price stability.
Author :United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy Publisher : ISBN 13 : Total Pages :88 pages Book Rating :4.0/5 ( download)
Book Synopsis Monetary Stability in Latin America by : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy
Download or read book Monetary Stability in Latin America written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy and published by . This book was released on 2000 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Building Blocks for Effective Macroprudential Policies in Latin America by : Patrick A. Imam
Download or read book Building Blocks for Effective Macroprudential Policies in Latin America written by Patrick A. Imam and published by International Monetary Fund. This book was released on 2012-07-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: An increasing number of countries - including in Latin America - are reforming their financial stability frameworks in the aftermath of the financial crisis, in order to establish a stronger macroprudential policy function. This paper analyzes existing arrangements for financial stability in Latin America and examines key issues to consider when designing the institutional foundations for effective macroprudential policies. The paper focuses primarily on eight Latin American countries, where the institutional arrangements for monetary and financial policies can be classified in two distinct groups: the "Pacific" model that includes Chile, Colombia, Peru, Costa Rica, and Mexico, and the "Atlantic" model, comprising Argentina, Brazil, and Uruguay.
Book Synopsis To Cut or Not to Cut? That is the (Central Bank’s) Question In Search of the Neutral Interest Rate in Latin America by : Mr.Nicolas E. Magud
Download or read book To Cut or Not to Cut? That is the (Central Bank’s) Question In Search of the Neutral Interest Rate in Latin America written by Mr.Nicolas E. Magud and published by International Monetary Fund. This book was released on 2012-10-09 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates neutral real interest rate (NRIR) ranges for 10 Latin American countries that either have full-fledged inflation targeting regimes in place or have recently adopted them, using an array of methodologies commonly used in the literature. We find that NRIRs have declined in the last decade, with more economically and financially developed economies exhibiting lower NRIR levels. Based on the estimated NRIRs, we assess that the current monetary stance (measured by the interest rate gap) is appropriately neutral in most of the considered economies, in line with closing output gaps. We also observe that the interest rate gap can be a good predictor of future inflation dynamics and economic growth. In addition, looking at the recent experiences in Brazil and Peru, we suggest that macro-prudential policies could affect the monetary stance even in the absence of direct interest rate changes, through affecting the NRIR.
Book Synopsis Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of Macroeconomic Policies by : Maria Luiza Falcão Silva
Download or read book Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of Macroeconomic Policies written by Maria Luiza Falcão Silva and published by Routledge. This book was released on 2018-08-17 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published in 1999, this work analyzes the phenomenon of macroeconomic adjustment, with special emphasis on selected Latin American countries facing stabilization programmes. It provides a historical description of the origins, functioning and collapse of exchange-rate regimes from the international classical gold standard period to modern arrangements. The author supports the argument that systemic asymmetries in the worldwide adjustment mechanism are inherent in the international monetary system. The recent theoretical literature dealing with the rules vs discretion debate and its interaction with the credibility issue is reviewed. This topic is intrinsically related to the dispute over the appropriate role of exchange-rate anchors in disinflation programmes. Against a background of academic dispute between advocates of exchange-rate prescriptions and monetary conceptions, the contrasting views of different theorists regarding the choice of exchange rate regimes are presented and assessed. Finally, a comparative analysis of recent experiments in Argentina, Brazil, Chile and Mexico with exchange-rate based disinflation stabilization programmes is undertaken. The problems that have arisen while establishing new institutional arrangements, such as new currency or a policy rule for monetary base creation, are examined.
Book Synopsis LAC Semiannual Report October 2017 by : Vegh, Carlos A.
Download or read book LAC Semiannual Report October 2017 written by Vegh, Carlos A. and published by World Bank Publications. This book was released on 2017-11-10 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: "After a growth slowdown that lasted six years (including a contraction of 1.3 percent last year), the Latin American and Caribbean (LAC) region is finally expected to resume positive growth in 2017, with market analysts forecasting real GDP growth of 1.2 percent for 2017 and 2.3 percent for 2018. The recovery, particularly in South America, will be led by a strong rebound in Argentina, which is expected to grow by 2.8 percent in 2017 and 3.0 percent in 2018, and Brazil, which is expected to resume positive growth as well, expanding by 0.7 percent in 2017 and 2.3 in 2018, after contracting for two consecutive years. The usual external drivers of growth (particularly commodity prices, and growth in China and U.S.) are expected to remain relatively neutral, which points to the need for the region to reinforce its own sources of growth (e.g., structural reforms, investment in infrastructure, and further international trade both within and outside the region). Unfortunately, the region finds itself in a weak fiscal situation with 28 out of 32 countries with an overall fiscal deficit, which implies that a gradual but sustained fiscal consolidation will be needed in the years ahead. The report's main focus (Chapter 2) is on the monetary policy dilemma faced by countries in LAC. When a typical commodity-exporter country in LAC is hit by, say, a negative terms of trade shock, real GDP falls, the currency depreciates, and inflation increases. The Central Bank faces the dilemma of (i) increasing policy rates to defend the currency/fight inflation, but at the cost of aggravating the recession or (ii) reducing the policy rate, thus stimulating output, but encouraging further depreciation and inflation. Traditionally, LAC countries have chosen the first option and have thus pursued procyclical monetary policy (i.e., increasing policy rates in bad times). Recently, however, many countries have been able to switch and become countercyclical (i.e., reducing policy rates in bad times), which enables them to prop up the economy in recessionary times (which is particularly important when lack of fiscal space precludes countercyclical fiscal policy)."
Book Synopsis The International Monetary Fund And Latin America by : Manuel Pastor
Download or read book The International Monetary Fund And Latin America written by Manuel Pastor and published by Routledge. This book was released on 2019-09-06 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debt crisis in Latin America has rekindled debate about the effects of the IMF's stabilization programs in the Third World. Critics contend that these programs have short-run recessionary impacts and damage prospects for long-term growth. In response, Fund economists point to cross-country studies revealing mixed impacts on growth rates coupled with significant success in achieving the IMF's stated goals: current account and balance-of-payments improvements and inflation rate reduction. Dr. Pastor argues that the traditional growth-oriented critique is theoretically misplaced, and he recasts Fund activities in terms of class and income distribution. Applying the methodology of previous Fund studies, he evaluates the effects of IMF programs in eighteen Latin American countries in the pre-crisis period (1965-1981).
Book Synopsis Development Macroeconomics in Latin America and Mexico by : J. Ros
Download or read book Development Macroeconomics in Latin America and Mexico written by J. Ros and published by Springer. This book was released on 2015-04-08 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Development Macroeconomics in Latin America and Mexico brings the attention of academics, practitioners, and policy makers to the neglected macroeconomic factors that can account for both the unsatisfactory average growth performance of Latin American and the diversity around this average.
