Author: Peter OppenheimerPublisher:
ISBN:
Category : Euro-dollar market
Languages : en
Pages : 12
Book Description
Impact of a Substitution Account on Euro-currency and Related Lending to Developing Countries
Author: Peter OppenheimerPublisher:
ISBN:
Category : Euro-dollar market
Languages : en
Pages : 12
Book Description
Currency Substitution in Developing Countries
Author: Mr.Guillermo CalvoPublisher: International Monetary Fund
ISBN: 145184588X
Category : Business & Economics
Languages : en
Pages : 32
Book Description
This paper reviews the main policy and analytical issues related to currency substitution in developing countries. The paper discusses, first, whether currency substitution should be encouraged or not; second, how the presence of currency substitution affects the choice of nominal anchors in inflation stabilization programs; third, the effects of changes in the rate of growth of the money supply on the real exchange rate; fourth, the interaction between inflationary finance and currency substitution; and, finally, issues related to the empirical verification of the currency substitution hypothesis.
Journal of Monetary Economics
Author: Journal of Banking & Finance
Author: Special Drawing Rights (SDRs)
Author: Christopher WilkiePublisher: Oxford University Press (UK)
ISBN: 0199606463
Category : Business & Economics
Languages : en
Pages : 323
Book Description
It considers the changing roles and influences of the U.S.
The Rise of Public and Private Digital Money
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1513592033
Category : Business & Economics
Languages : en
Pages : 33
Book Description
Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.
The Rise of Digital Money
Author: Mr.Tobias AdrianPublisher: International Monetary Fund
ISBN: 1498324908
Category : Business & Economics
Languages : en
Pages : 20
Book Description
This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
The IMF and the Silent Revolution
Author: Mr.James M. BoughtonPublisher: International Monetary Fund
ISBN: 9781557759702
Category : Business & Economics
Languages : en
Pages : 68
Book Description
This pamphlet is adapted from Chapter 1 of Silent Revolution: The International Monetary Fund, 1979-89, by the same author. That book is full of history of the evolution of the Fund during 11 years in which the institution truly came of age as a participant in the international financial system.
Negative Interest Rate Policy (NIRP)
Author: Andreas JobstPublisher: International Monetary Fund
ISBN: 1475524471
Category : Business & Economics
Languages : en
Pages : 48
Book Description
More than two years ago the European Central Bank (ECB) adopted a negative interest rate policy (NIRP) to achieve its price stability objective. Negative interest rates have so far supported easier financial conditions and contributed to a modest expansion in credit, demonstrating that the zero lower bound is less binding than previously thought. However, interest rate cuts also weigh on bank profitability. Substantial rate cuts may at some point outweigh the benefits from higher asset values and stronger aggregate demand. Further monetary accommodation may need to rely more on credit easing and an expansion of the ECB’s balance sheet rather than substantial additional reductions in the policy rate.
Author: