Author: Gerhard FenzPublisher:
ISBN:
Category : Austria
Languages : en
Pages : 36
Book Description
An Unobserved Components Model to Forecast Austrian GDP
Author: Gerhard FenzPolicy Analysis and Forecasting in the World Economy
Author: Francis VitekPublisher: International Monetary Fund
ISBN: 1475504187
Category : Business & Economics
Languages : en
Pages : 77
Book Description
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within and across economies. A variety of monetary policy analysis, fiscal policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment.
Exchange-rate Arrangements and Financial Integration in East Asia
Author: Hans GenbergPublisher:
ISBN:
Category : Monetary unions
Languages : en
Pages : 58
Book Description
Financial integration in East Asia is actively being pursued and will in due course lead to substantial mobility of capital between economies in the region. Plans for monetary cooperation as a prelude to monetary integration and ultimately monetary unification are also proposed. These plans often suggest that central banks should adopt some form of common exchange rate policy in the transition period towards full monetary union. This paper argues that this is a dangerous path in the context of highly integrated financial markets. An alternative approach is proposed where independent central banks coordinate their monetary policies through the adoption of common objectives and by building an appropriate institutional framework. When this coordination process has progressed to the point where interest rate developments are similar across the region, and if in the meantime the required institutional infrastructure has been build, the next step towards monetary unification can be taken among those central banks that so desire. The claim is that this transition path is likely to be robust and will limit the risk of currency crises.
Regional Currency Arrangements
Author: Josef ChristlEurope's Hard Fix
Author: Otmar IssingPublisher:
ISBN:
Category : Monetary unions
Languages : en
Pages : 54
Book Description
The Mystique of Central Bank Speak
Author: Petra M. GeraatsPublisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 50
Book Description
Regional Currency Arrangements in North America
Author: Sven ArndtPublisher:
ISBN:
Category : Monetary unions
Languages : en
Pages : 70
Book Description
Monetary Policy & the Economy
Author: Policy Analysis and Forecasting in the World Economy
Author: Francis VitekPublisher: International Monetary Fund
ISBN: 1475599560
Category : Business & Economics
Languages : en
Pages : 77
Book Description
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within and across economies. A variety of monetary policy analysis, fiscal policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment.
Global Economic Prospects, June 2021
Author: World BankPublisher: World Bank Publications
ISBN: 1464816662
Category : Business & Economics
Languages : en
Pages : 339
Book Description
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.