Author: George S. AlogoskoufisPublisher:
ISBN:
Category : Economics
Languages : en
Pages :
Book Description
On Optimal Money Policy and Exchange Market Intervention with Non Tradable Goods and Partial Wage Indexation
Author: George S. AlogoskoufisPublisher:
ISBN:
Category : Economics
Languages : en
Pages :
Book Description
Optimal Wage Indexation, Foreign-excange Intervention and Monetary Policy
Author: Joshua AizenmanMarket Volatility and Foreign Exchange Intervention in EMEs
Author: Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y EconómicoPublisher:
ISBN: 9789291319626
Category : Banks and banking, Central
Languages : es
Pages : 0
Book Description
Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease?
Author: Mr.Ruy LamaPublisher: International Monetary Fund
ISBN: 1455202169
Category : Business & Economics
Languages : en
Pages : 45
Book Description
This paper evaluates how successful is a policy of exchange rate stabilization to counteract the negative effects of a Dutch Disease episode. We consider a small open economy model that incorporates nominal rigidities and a learning-by-doing externality in the tradable sector. The paper shows that leaning against an appreciated exchange rate can prevent an inefficient loss of tradable output but at the cost of generating a misallocation of resources in other sectors of the economy. The paper also finds that welfare is a decreasing function of exchange rate intervention. These results suggest that stabilizing the nominal exchange rate in response to a Dutch Disease episode is highly distortionary.
Monetary, Nominal Income and Exchange Rate Targets in a Small Open Economy
Author: George AlogoskoufisWage Determination and Recession
Author: Andrew J. OswaldPublisher:
ISBN:
Category : Crises
Languages : en
Pages : 36
Book Description
The Labor Market and Economic Adjustment
Author: Pierre-Richard AgénorPublisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
Book Description
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
On Union Preferences and Labour Market Models
Author: Alan A. CarruthPublisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 40
Book Description
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1498344062
Category : Business & Economics
Languages : en
Pages : 74
Book Description
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Toward an Integrated Policy Framework
Author: International Monetary FundPublisher: INTERNATIONAL MONETARY FUND
ISBN: 9781513558769
Category : Business & Economics
Languages : en
Pages : 54
Book Description
Policymakers often face difficult tradeoffs in pursuing domestic and external stabilization objectives. The paper reflects staff’s work to advance the understanding of the policy options and tradeoffs available to policymakers in a systematic and analytical way. The paper recognizes that the optimal path of the IPF tools depends on structural characteristics and fiscal policies. The operational implications of IPF findings require careful consideration. Developing safeguards to minimize the risk of inappropriate use of IPF policies will be essential. Staff remains guided by the Fund’s Institutional View (IV) on the Liberalization and Management of Capital Flows.