Obstacles To Disinflation

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Obstacles to Disinflation

Oya Celasun,Mr.R. Gelos,Mr.Alessandro Prati
Obstacles to Disinflation Book PDF

Author : Oya Celasun,Mr.R. Gelos,Mr.Alessandro Prati
Publisher : INTERNATIONAL MONETARY FUND
Page : 35 pages
File Size : 43,8 Mb
Release : 2004-06-01
Category : Business & Economics
ISBN : 1451853505

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Obstacles to Disinflation by Oya Celasun,Mr.R. Gelos,Mr.Alessandro Prati Pdf

Is backward-looking behavior in pricing or imperfect credibility of stabilization efforts responsible for the failure of inflation rates to decline to targeted levels during many disinflation programs? This paper assesses the relative importance of these two factors during a number of disinflation attempts in developing and transition economies. Using survey data, we find that expectations of future inflation play a much more important role than past inflation in shaping the inflation process. We also find that an improvement in primary fiscal balances significantly reduces inflation expectations. This suggests that during stabilization episodes, priority should be given to building fiscal credibility by strengthening public finances.

Obstacles to Disinflation

Oya Celasun
Obstacles to Disinflation Book PDF

Author : Oya Celasun
Publisher : Unknown
Page : 35 pages
File Size : 52,7 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291217420

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Obstacles to Disinflation by Oya Celasun Pdf

Is backward-looking behavior in pricing or imperfect credibility of stabilization efforts responsible for the failure of inflation rates to decline to targeted levels during many disinflation programs? This paper assesses the relative importance of these two factors during a number of disinflation attempts in developing and transition economies. Using survey data, we find that expectations of future inflation play a much more important role than past inflation in shaping the inflation process. We also find that an improvement in primary fiscal balances significantly reduces inflation expectations. This suggests that during stabilization episodes, priority should be given to building fiscal credibility by strengthening public finances.

Inflation, Deflation and Disinflation

Mubariz Hasanov
Inflation Deflation and Disinflation Book PDF

Author : Mubariz Hasanov
Publisher : Unknown
Page : 0 pages
File Size : 51,9 Mb
Release : 2012
Category : Deflation (Finance)
ISBN : 1613244797

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Inflation, Deflation and Disinflation by Mubariz Hasanov Pdf

In this book, the authors gather and present current research in the study of inflation, deflation and disinflation. Topics discussed in this compilation include the Phillips curve model and inflation forecasting; inflation targeting and central bank policymaking; market-based measures of inflation expectations in the Euro area and inflation convergence in the context of EMU participation.

Moderate Inflation

Mr.Carlo Cottarelli,Mr.Gyorgy Szapary
Moderate Inflation Book PDF

Author : Mr.Carlo Cottarelli,Mr.Gyorgy Szapary
Publisher : International Monetary Fund
Page : 300 pages
File Size : 40,8 Mb
Release : 1998-07-01
Category : Business & Economics
ISBN : 1557756996

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Moderate Inflation by Mr.Carlo Cottarelli,Mr.Gyorgy Szapary Pdf

Many countries, including several transition economies, have in the last few years recorded a sharp decline in inflation, but have been unable to bring inflation down to lower single digits or to achieve price stability. In these countries, inflation has stabilized at moderate levels, with further progress becoming seemingly more difficult. What are the problems created by moderate inflation? What is the appropriate speed of disinflation? These and other issues related to disinflation in transition economies are taken up in this book, edited by Carlo Cottarelli and Gyorgy Szapáry.

Argentina

International Monetary Fund. Western Hemisphere Dept.
Argentina Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 145 pages
File Size : 53,8 Mb
Release : 2016-11-10
Category : Business & Economics
ISBN : 9781475552645

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Argentina by International Monetary Fund. Western Hemisphere Dept. Pdf

This paper discusses Argentina’s investment rate which was well below the average of Latin American countries and that of a peer group of advanced and emerging market countries, with a larger gap in private investment. Raising investment prospects would be essential to boost economic activity. The administration that took office in December 2015 has emphasized the importance of generating an investor friendly environment that allows Argentina to recover some of the growth opportunities lost over the last few decades. Although quantifying the capital accumulation gap is a clearly a difficult task, one way of doing so is to look at the difference between Argentina’s capital-labor ratio and that of the selected peer group of countries. Argentina’s investment rates and capital-output ratios are also compared with estimates of their steady state values derived from standard neoclassical growth models. Argentina’s investment rate would need to increase significantly to eliminate the capital accumulation gap built during the last two decades, and this could significantly accelerate GDP growth.

Argentina: Ex-Post Evaluation of Exceptional Access Under the 2018 Stand-By Arrangement-Press Release and Staff Report

International Monetary,International Monetary Fund. Western Hemisphere Dept.
Argentina Ex Post Evaluation of Exceptional Access Under the 2018 Stand By Arrangement Press Release and Staff Report Book PDF

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 135 pages
File Size : 43,7 Mb
Release : 2021-12-22
Category : Business & Economics
ISBN : 9781616357993

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Argentina: Ex-Post Evaluation of Exceptional Access Under the 2018 Stand-By Arrangement-Press Release and Staff Report by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

On June 20, 2018, the Executive Board approved the largest stand-by arrangement in the Fund’s history, in support of Argentina’s 2018-21 economic program. After an augmentation in October 2018, access under the arrangement amounted to US$57 billion (1,227 percent of Argentina’s IMF quota). The program saw only four of the planned twelve reviews completed, and did not fulfil the objectives of restoring confidence in fiscal and external viability while fostering economic growth. The arrangement was canceled on July 24, 2020.

Uruguay

International Monetary Fund. Western Hemisphere Dept.
Uruguay Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 38 pages
File Size : 50,6 Mb
Release : 2013-05-08
Category : Business & Economics
ISBN : 9781484395516

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Uruguay by International Monetary Fund. Western Hemisphere Dept. Pdf

Uruguay’s inflation and inflation expectations exceed the inflation target, and the gap has been widening in recent years. To help bring it to the mid-point of the target, Banco Central del Uruguay (BCU) needs to maintain a tightening bias in addition to strengthening its communication. This paper examined the factors behind the composition of FDI flows to Uruguay and suggested that strong institutions and macroeconomic stability have helped attract FDI to the secondary and tertiary sectors. Flexibility of the labor market, financial deepening, and the quality of infrastructure can further this improvement.

Inflation and Disinflation in Turkey

Faruk Selcuk,Libby Rittenberg,Aykut Kibritcioglu
Inflation and Disinflation in Turkey Book PDF

Author : Faruk Selcuk,Libby Rittenberg,Aykut Kibritcioglu
Publisher : Routledge
Page : 190 pages
File Size : 41,8 Mb
Release : 2018-04-27
Category : Social Science
ISBN : 9781351739276

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Inflation and Disinflation in Turkey by Faruk Selcuk,Libby Rittenberg,Aykut Kibritcioglu Pdf

This title was first published in 2002. Since the 1990s Turkey has experienced a number of disasters, both physical and economic. The result has been a decrease in economic performance compared to other European states. This study addresses the country's ongoing economic struggles.

Inflation Targeting in MENA Countries

Mongi Boughzala
Inflation Targeting in MENA Countries Book PDF

Author : Mongi Boughzala
Publisher : Springer
Page : 339 pages
File Size : 43,8 Mb
Release : 2011-07-26
Category : Business & Economics
ISBN : 9780230316560

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Inflation Targeting in MENA Countries by Mongi Boughzala Pdf

This volume assesses the current state of play for Middle East and North African countries, in the light of wider work on inflation targeting, and provides lessons from the evolution of monetary policy in Europe.

World Economic Outlook, September 2005

International Monetary Fund. Research Dept.
World Economic Outlook September 2005 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 294 pages
File Size : 50,8 Mb
Release : 2005-04-12
Category : Business & Economics
ISBN : 1589064542

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World Economic Outlook, September 2005 by International Monetary Fund. Research Dept. Pdf

The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists' analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, and economics in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.

Expectations' Anchoring and Inflation Persistence

Mr.Rudolfs Bems,Francesca G Caselli,Francesco Grigoli,Bertrand Gruss,Weicheng Lian
Expectations Anchoring and Inflation Persistence Book PDF

Author : Mr.Rudolfs Bems,Francesca G Caselli,Francesco Grigoli,Bertrand Gruss,Weicheng Lian
Publisher : International Monetary Fund
Page : 31 pages
File Size : 47,5 Mb
Release : 2018-12-11
Category : Business & Economics
ISBN : 9781484392232

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Expectations' Anchoring and Inflation Persistence by Mr.Rudolfs Bems,Francesca G Caselli,Francesco Grigoli,Bertrand Gruss,Weicheng Lian Pdf

Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an empirical assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct a novel index of inflation expectations' anchoring using survey-based inflation forecasts for 45 economies starting in 1989. We then study the response of consumer prices to terms-of-trade shocks for countries with flexible exchange rates. We find that these shocks have a significant and persistent effect on consumer price inflation when expectations are poorly anchored. By contrast, inflation reacts by less and returns quickly to its pre-shock level when expectations are strongly anchored.

Money in the Middle East and North Africa

David Cobham,Ghassan Dibeh
Money in the Middle East and North Africa Book PDF

Author : David Cobham,Ghassan Dibeh
Publisher : Routledge
Page : 295 pages
File Size : 46,5 Mb
Release : 2010-12-07
Category : Business & Economics
ISBN : 9781136864162

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Money in the Middle East and North Africa by David Cobham,Ghassan Dibeh Pdf

Monetary policy in the Middle East and North African (MENA) countries remains an understudied area; this book fills an important gap by examining monetary policy frameworks and monetary policy strategies in the region. Building on the editors’ earlier book, Monetary Policy and Central Banking in the Middle East and North Africa, which focused on central bank independence issues and on exchange rate regimes, this book emphasises monetary policy strategies. Part I contains an overview of the financial markets and institutions which condition the choice of monetary policy strategy in the countries of the region, followed by single-country studies on aspects of the monetary policy frameworks of Lebanon, Egypt, Jordan, the Palestinian Territory and Turkey. Part II includes analyses of the prospects for inflation targeting in Egypt, Morocco and Tunisia, of the monetary transmission mechanism in the Gulf Cooperation Council countries, of the relative advantages of inflation targeting and exchange rate fixity with reference to Egypt, of the problem of fiscal dominance in Egypt, and of the inflationary implications of exchange rate fixity for Saudi Arabia and Kuwait. The contributors are experts from universities inside and outside the MENA region, from central banks in the region and from outside institutions such as the European Central Bank and the International Monetary Fund.

OECD Economic Surveys: Turkey 2008

OECD
OECD Economic Surveys Turkey 2008 Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 167 pages
File Size : 52,7 Mb
Release : 2008-07-17
Category : Electronic
ISBN : 9789264048041

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OECD Economic Surveys: Turkey 2008 by OECD Pdf

This 2008 edition of OECD's periodic survey of Turkey's economy examines new challenges facing the Turkish economy including shifting to a pro-growth fiscal policy, monetary policy and inflation, and enhancing competitiveness by fostering the growth ...

IMF Staff Papers, Volume 51, No. 3

International Monetary Fund. Research Dept.
IMF Staff Papers Volume 51 No 3 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 216 pages
File Size : 54,6 Mb
Release : 2004-11-23
Category : Business & Economics
ISBN : 1589063511

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IMF Staff Papers, Volume 51, No. 3 by International Monetary Fund. Research Dept. Pdf

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.

Economic Dynamics in Transitional Economies

Bruno Sergi
Economic Dynamics in Transitional Economies Book PDF

Author : Bruno Sergi
Publisher : Routledge
Page : 262 pages
File Size : 45,8 Mb
Release : 2020-07-24
Category : Business & Economics
ISBN : 9781000156775

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Economic Dynamics in Transitional Economies by Bruno Sergi Pdf

Learn more about the transitional economies of Central and Eastern Europe! This book examines the economic dynamics of Central and Eastern European post-Communist countries. It illuminates the paths these countries are taking toward restructuring their markets, increasing international trade, and bettering their connections with the European Union and other countries. Beginning with a comparative analysis of the three “P-governments”—Pigouvian, Partizan, and Paternalistic—and continuing with a discussion of the interrelated political and economic difficulties of transition, author Bruno Sergi proposes a surprising solution. Inspired by the Bruxelles consensus, he proposes that the European Commission should become a fourth “P-government,” replacing the role formerly played by the Washington consensus in the restructuring of post-Communist economies. Economic Dynamics in Transitional Economies also explores: regional comparative macroeconomics the aftereffects of the Washington Consensus integration of Eastern and Western European economies interrelations between national and regional monetary activity political and economic policy reform involvement of European Union member countries We are living in historic times, and Economic Dynamics in Transitional Economies will be a welcome guide to the rough roads ahead. This thorough assessment of current political and economic realities will stimulate debate about new European paradigms, the role of the European Union, and the difficulties of post-Communist transition. These issues promise to be vital to the region’s success in the new century.