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IMF Staff Papers, Volume 49, No. 3

IMF Staff Papers, Volume 49, No. 3
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Total Pages: 260
Release: 2002-09-23
Genre: Business & Economics
ISBN: 9781589061224

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This paper empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay during 1975–98. Cointegration analysis and error correction modeling are used to research two issues: (i) whether money demand stability is threatened by banking crises; and (ii) whether crises lead to structural breaks in the relation between monetary indicators and prices. Overall, no systematic evidence that banking crises cause money demand instability is found. The paper also analyzes inflation targeting in the context of the IMF-supported adjustment programs.


Divisia Monetary Aggregates

Divisia Monetary Aggregates
Author: M. Belongia
Publisher: Springer
Total Pages: 331
Release: 2000-10-06
Genre: Business & Economics
ISBN: 0230288235

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The leading researchers from central banks and universities around the world debate issues central to the performance of Divisia monetary aggregates both in theory and in practice. The overall conclusion is that Divisia monetary aggregates outperform their simple sum counterparts in a wide range of applications the world over. The book is the first volume-length study of empirical data and theoretical research on the subject.


Cross-Border Deposits and Monetary Aggregates in the Transition to EMU

Cross-Border Deposits and Monetary Aggregates in the Transition to EMU
Author: Mr.Carlo Cottarelli
Publisher: International Monetary Fund
Total Pages: 60
Release: 1991-11-01
Genre: Business & Economics
ISBN: 1451853742

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This paper discusses the effect of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EC countries. The analysis is developed in terms of “information content” of alternative money definitions (including or excluding selected subsets of CBDs), derived from a multicountry simultaneous system of money demand equations. We show that in the most recent period traditional money aggregates have lost information value and that they are dominated by alternative money definitions that include CBDs, such as those based on the residency of the holder or on the currency of denomination.


Empirical Models and Policy Making

Empirical Models and Policy Making
Author: Mary Morgan
Publisher: Routledge
Total Pages: 416
Release: 2003-09-02
Genre: Business & Economics
ISBN: 113457312X

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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.


Financial Liberalization and the Information Content of Money in Indonesia, Korea, and the Philippines

Financial Liberalization and the Information Content of Money in Indonesia, Korea, and the Philippines
Author: Mr.A. Javier Hamann
Publisher: International Monetary Fund
Total Pages: 44
Release: 1993-11-01
Genre: Business & Economics
ISBN: 1451851081

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Using a VAR approach, this paper studies the relationship between money, output, and prices in a group of Pacific Basin countries that underwent financial sector reform during the 1980s: Indonesia, Korea, and the Philippines. Special attention is paid to assessing the information content of money. Money was found to contain valuable advance information on output and prices in Korea, on prices only in the Philippines, and did not contain any advance information in Indonesia. The introduction of financial sector reform was not found to lead to a structural break in the price and output equations; however, the information content of money was affected. Further tests show that exchange and interest rates—variables that gained flexibility with the reforms—contain valuable information about future developments in prices in Korea and the Philippines.


IMF Working Paper

IMF Working Paper
Author:
Publisher:
Total Pages: 628
Release: 1991
Genre: Finance
ISBN:

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Monetary Seminar 90

Monetary Seminar 90
Author: Bank of Canada
Publisher: The Bank
Total Pages: 596
Release: 1992
Genre: Banks and banking
ISBN:

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