Explaining And Forecasting The Velocity Of Money In Transition Economies With Special Reference To The Baltics Russia And Other Countries Of The Former Soviet Union

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Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia and other Countries of the Former Soviet Union

International Monetary Fund
Explaining and Forecasting the Velocity of Money in Transition Economies with Special Reference to the Baltics Russia and other Countries of the Former Soviet Union Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 47 pages
File Size : 51,6 Mb
Release : 1997-09-01
Category : Business & Economics
ISBN : 9781451853063

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Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia and other Countries of the Former Soviet Union by International Monetary Fund Pdf

The paper identifies a number of stylized facts on the behavior of key macroeconomic variables during high inflation and stabilization in countries in transition. To examine the extent to which these stylized facts conform to the predictions of standard open economy monetary theory, the paper develops a simple monetary model of the exchange rate incorporating price stickiness and inflation inertia, and carries out an econometric analysis of the behavior of real money balances during inflation stabilization. The paper concludes by assessing the prospects for velocity developments in countries in transition, including the likely pace of remonetization.

Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia and Other Countries of the Former Soviet Union

Mark De Broeck
Explaining and Forecasting the Velocity of Money in Transition Economies with Special Reference to the Baltics Russia and Other Countries of the Former Soviet Union Book PDF

Author : Mark De Broeck
Publisher : Unknown
Page : 46 pages
File Size : 48,5 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291214830

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Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia and Other Countries of the Former Soviet Union by Mark De Broeck Pdf

The paper identifies a number of stylized facts on the behavior of key macroeconomic variables during high inflation and stabilization in countries in transition. To examine the extent to which these stylized facts conform to the predictions of standard open economy monetary theory, the paper develops a simple monetary model of the exchange rate incorporating price stickiness and inflation inertia, and carries out an econometric analysis of the behavior of real money balances during inflation stabilization. The paper concludes by assessing the prospects for velocity developments in countries in transition, including the likely pace of remonetization.

Disinflation in Transition

Mr.Carlo Cottarelli,Mr.Peter Doyle
Disinflation in Transition Book PDF

Author : Mr.Carlo Cottarelli,Mr.Peter Doyle
Publisher : International Monetary Fund
Page : 56 pages
File Size : 45,6 Mb
Release : 1999-08-23
Category : Business & Economics
ISBN : 1557757976

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Disinflation in Transition by Mr.Carlo Cottarelli,Mr.Peter Doyle Pdf

The latest in a series of papers published by the International Monetary Fund on economies in transition examines the experience of disinflation in Central and Eastern Europe, the Baltics, Russia, and other countries of the former Soviet Union between 1993 and 1997. The paper reviews the economic policies underlying the dramatic drop in inflation during those years as well as other variables that facilitated the disinflation and notes that the adjustment of fiscal fundamentals as the driving force behind the disinflation, while nominal anchoring arrangements played a less prominent role. This was contrary to developments in countries, for example, in Latin America, that had experienced high inflation for a long period of time.

Disinflation in Transition Economies

Marek Dabrowski
Disinflation in Transition Economies Book PDF

Author : Marek Dabrowski
Publisher : Central European University Press
Page : 413 pages
File Size : 41,8 Mb
Release : 2003-01-01
Category : Business & Economics
ISBN : 9789633865620

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Disinflation in Transition Economies by Marek Dabrowski Pdf

The authors of this outstanding scholarly work analyze the dynamics of disinflation in transition economies in Central and Eastern Europe. The volume covers all the key factors of this process: changes in money supply and money demand; exchange rate policy; currency crisis; fiscal policy; legal status of central banks; monetary policy strategy; changes in relative prices and changes in nominal and real wages. The book contains 13 chapters related to various aspects of disinflation and covering different sets of transition countries depending on their relevance to the analyzed topic and data availability.

Price Liberalization, Money Growth, and Inflation During the Transition to a Market Economy

Mr.Ernesto Hernández-Catá
Price Liberalization Money Growth and Inflation During the Transition to a Market Economy Book PDF

Author : Mr.Ernesto Hernández-Catá
Publisher : International Monetary Fund
Page : 25 pages
File Size : 55,5 Mb
Release : 1999-06-01
Category : Business & Economics
ISBN : 9781451849851

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Price Liberalization, Money Growth, and Inflation During the Transition to a Market Economy by Mr.Ernesto Hernández-Catá Pdf

This paper examines the influence of economic liberalization and monetary growth on inflation during the transition from central plan to market. It concludes that price decontrol had a substantial, one-time effect on the price level but no lasting effect on inflation; that economic liberalization broadly defined may have helped dampen price increases; and that monetary expansion has been the fundamental determinant of inflation in the region. The paper also finds that the intensity of liberalization has been related to geographic proximity to market economies, to the size of the underground economy, and to the degree of political freedom.

Challenges at the Bank for International Settlements

Elmar B. Koch
Challenges at the Bank for International Settlements Book PDF

Author : Elmar B. Koch
Publisher : Springer Science & Business Media
Page : 365 pages
File Size : 43,6 Mb
Release : 2007-10-20
Category : Business & Economics
ISBN : 9783540727903

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Challenges at the Bank for International Settlements by Elmar B. Koch Pdf

Challenges facing central bankers are expertly examined and analyzed. The book explores monetary policy and financial crisis as well as insolvency, collective action clauses, international mediation, and management of central banks. The author has worked as an economist at the Monetary and Economic Department of the Bank for International Settlements and as an international mediator for the Secretariat of the G10 Ministers and Governors.

Financial Infusion and Exiting from a Money Rule

Mr.Mark R. Stone
Financial Infusion and Exiting from a Money Rule Book PDF

Author : Mr.Mark R. Stone
Publisher : International Monetary Fund
Page : 42 pages
File Size : 40,5 Mb
Release : 1998-03-01
Category : Business & Economics
ISBN : 9781451980097

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Financial Infusion and Exiting from a Money Rule by Mr.Mark R. Stone Pdf

Money demand often surges after successful macroeconomic stabilization. This paper gives a name—financial infusion—to these surges because their size, unpredictability, and concurrence with other “success shocks” pose unique challenges to policy, especially under a money rule. An examination of 26 stabilization episodes shows that money to GDP can be expected to decline before stabilization and rise sharply thereafter. Analysis of the policy response to financial infusion under a money rule concludes that it amplifies output and price volatility, even if built into the rule. Finally, the main elements of an exit strategy from a money rule to an exchange rate or inflation target are discussed.

How Monetary Policy Works

Lavan Mahadeva,Peter J N Sinclair
How Monetary Policy Works Book PDF

Author : Lavan Mahadeva,Peter J N Sinclair
Publisher : Routledge
Page : 359 pages
File Size : 53,7 Mb
Release : 2004-08-02
Category : Business & Economics
ISBN : 9781134289837

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How Monetary Policy Works by Lavan Mahadeva,Peter J N Sinclair Pdf

For monetary policymakers worldwide, developing a practical understanding of how monetary policy transmits to the economy is a day-to-day challenge. The data such policymakers have is imperfect, the maps they use are continually redrawn. With such uncertainty, understanding this complicated issue is rarely straightforward. This book, a collaboration between some of the finest minds working on monetary theory in the world, helps to provide a foundation for understanding monetary policy in all its complex glory. Using models, case studies and new empirical evidence, the contributors to this book help readers on many levels develop their technical expertise. Students of macroeconomics, money and banking and international finance will find this to be a good addition to their reading lists. At the same time, policymakers and professionals within banking will learn valuable lessons from a thorough read of this book's pages.

Central Banking in Transition Countries

Mr.Helmut Wagner
Central Banking in Transition Countries Book PDF

Author : Mr.Helmut Wagner
Publisher : International Monetary Fund
Page : 50 pages
File Size : 47,6 Mb
Release : 1998-08-01
Category : Business & Economics
ISBN : 9781451936681

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Central Banking in Transition Countries by Mr.Helmut Wagner Pdf

In the 1990s, the issues of central banking and central bank independence have gained increasing attention, in part owing to the role of the future European central bank, but also owing to the emergence of transition countries and the role of central banks in these countries. The main focus of the paper is on the preconditions of disinflation and successful stability policy in transition countries, paying special attention to the institutional requirements and to the choice of nominal anchors.

Monetary Policy and Models of Currency Demand

Mariam El Hamiani Khatat
Monetary Policy and Models of Currency Demand Book PDF

Author : Mariam El Hamiani Khatat
Publisher : International Monetary Fund
Page : 55 pages
File Size : 44,9 Mb
Release : 2018-02-16
Category : Business & Economics
ISBN : 9781484342633

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Monetary Policy and Models of Currency Demand by Mariam El Hamiani Khatat Pdf

Two types of currency in circulation models are identified: (1) a first generation derived from the theory of money demand and (2) a second generation aimed at producing daily forecasts of currency in circulation. In this paper, we transform the currency demand function into a VAR to capture the dynamic link between interest rates and the demand for cash. We also apply ARIMA modeling to forecast the daily currency in circulation for Brazil, Kazakhstan, Morocco, New Zealand, and Sudan. Our empirical work shows that some of the conclusions in the economic literature on the impact of interest rates on the demand for currency do not necessarily hold, and that central banks would benefit from running both generations of currency in circulation models. The fundamental longer-run determinants of the demand for cash are distinct from its short-run determinants.

Economic Theory and Financial Policy

Jacques Jacobus Polak
Economic Theory and Financial Policy Book PDF

Author : Jacques Jacobus Polak
Publisher : M.E. Sharpe
Page : 318 pages
File Size : 40,7 Mb
Release : 2005
Category : Business & Economics
ISBN : 0765616149

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Economic Theory and Financial Policy by Jacques Jacobus Polak Pdf

12. Is APEC a Natural Regional Trading Bloc? A Critique of the 'Gravity Model' of International Trade -- 13. Financial Relations between the Netherlands and Belgium: 1943 to 1993 -- 14. Repairing the International Monetary System: An Unfinished Task? -- Name Index

Empirical Models and Policy Making

Mary Morgan,Frank den Butter
Empirical Models and Policy Making Book PDF

Author : Mary Morgan,Frank den Butter
Publisher : Routledge
Page : 337 pages
File Size : 53,8 Mb
Release : 2003-09-02
Category : Business & Economics
ISBN : 9781134573134

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Empirical Models and Policy Making by Mary Morgan,Frank den Butter Pdf

This collection, written by highly-placed practitioners and academic economists, provides a picture of how economic modellers and policy makers interact. The book provides international case studies of particular interactions between models and policy making, and argues that the flow of information is two-way.

Research Activities of the IMF, January 1991-December 1999

International Monetary Fund
Research Activities of the IMF January 1991 December 1999 Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 144 pages
File Size : 47,5 Mb
Release : 2000-01-01
Category : Business & Economics
ISBN : 1557759804

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Research Activities of the IMF, January 1991-December 1999 by International Monetary Fund Pdf

Research activity in the IMF emphasizes the links between the organization's policy and operational concerns. The main objectives of research is IMF staff understanding of policy and operational issues relevant to the institution, and to improve the analytical quality of the work prepared for management and the Executive Board and the advice provided to member countries. The scope of research in the IMF is defined by the purposes and functions of the institution. In order to foster innovation and ensure quality control, the IMF makes much of its research available outside the institution and encourages staff to interact with academia and other research organizations through conferences, seminars, and occasional joint research projects. The visiting scholar’s program has also enhanced the quality of research done in the IMF. This program brings in leading members of the economics profession from around the world to assist in the preparation of papers for the Executive Board and to conduct research on IMF-related issues.

A Decade of Transition

Mr.Oleh Havrylyshyn,Mr.Saleh M. Nsouli
A Decade of Transition Book PDF

Author : Mr.Oleh Havrylyshyn,Mr.Saleh M. Nsouli
Publisher : International Monetary Fund
Page : 292 pages
File Size : 53,6 Mb
Release : 2001-04-27
Category : Business & Economics
ISBN : 158906013X

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A Decade of Transition by Mr.Oleh Havrylyshyn,Mr.Saleh M. Nsouli Pdf

This volume reviews the experience of 25 non-Asian transition economies 10 years into their transformation to market economies. The volume is based on an IMF conference held in February 1999 in Washington, D.C., to take stock of the achievements and the challenges of transition in the context of three questions: How far has transition progressed ineach country? What factors explain the differences in the progress made? And what remains to be done?

World Economic Outlook

International Monetary Fund
World Economic Outlook Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 240 pages
File Size : 48,7 Mb
Release : 1997-10-15
Category : Business & Economics
ISBN : 1557756813

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World Economic Outlook by International Monetary Fund Pdf

This paper presents an outlook for the world economy for 1997–98. With world output expected to expand by some 41⁄4 percent in both 1997 and 1998, the strongest pace in a decade, the global economy is enjoying the fourth episode of relatively rapid growth since the early 1970s. The expansion is underpinned by continued solid growth with low inflation in the United States and the United Kingdom; a strengthening recovery in Canada; a broadening of recovery across continental western Europe, notwithstanding persistent weakness in domestic demand in some of the largest countries.