Imf Staff Papers Volume 41 No 3 PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Imf Staff Papers Volume 41 No 3 PDF full book. Access full book title Imf Staff Papers Volume 41 No 3.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 158 |
| Release | : 1994-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451973306 |
Download IMF Staff papers, Volume 41 No. 3 Book in PDF, ePub and Kindle
This paper focuses on the payments system reforms and monetary policy in emerging market economies in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and the instruments of monetary policy used by the central banks. The paper shows that although starting from similar origins, there were significant variations in experiences of the countries studied in transforming their payments systems after the start of the reforms toward a market economy, from which certain lessons can be drawn.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 181 |
| Release | : 1994-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451957033 |
Download IMF Staff papers, Volume 41 No. 1 Book in PDF, ePub and Kindle
This paper examines effects of economic growth and speed of adjustment on openness, human development, and fiscal policies. The model developed in this paper postulates that learning through experience raises labor productivity with three major consequences. First, the steady-state growth rate of output becomes endogenous and is influenced by government policies. Second, the speed of adjustment to steady-state growth increases and enhanced learning further reduces adjustment time. Third, both steady-state growth and the optimal net rate of return to capital are higher than the sum of the exogenous rates of technical change and population growth.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 217 |
| Release | : 1994-01-01 |
| Genre | : Business & Economics |
| ISBN | : 145194716X |
Download IMF Staff papers Book in PDF, ePub and Kindle
Primary commodities still account for the bulk of exports in many developing countries. However, real commodity prices have been declining almost continuously since the early 1980s. The appropriate policy response to a terms of trade shock depends importantly on whether the shock is perceived to be temporary or permanent. Our results indicate that the recent weakness in commodity prices is mostly secular, stressing the need for commodity exporting countries to concentrate on export diversification and other structural policies. There is, however, scope for stabilization funds and the use of hedging strategies, since the evidence also suggests commodity prices have become more volatile.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 216 |
| Release | : 2004-11-23 |
| Genre | : Business & Economics |
| ISBN | : 9781589063518 |
Download IMF Staff Papers, Volume 51, No. 3 Book in PDF, ePub and Kindle
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.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 136 |
| Release | : 1954-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451960115 |
Download IMF Staff papers Book in PDF, ePub and Kindle
This paper presents a study on economic development with stability in India. While the Five-Year Plan occupies the central position as the means through which the Government of India proposes to deal with the basic economic problem, it must be implemented by many specific economic and social measures. It is of the utmost importance that the measures taken in various fields should not only contribute to the fulfilment of the Five-Year Plan but that they should form part of a consistent economic and social policy. Apart from the change in total foreign investment, the composition of foreign investment in India now includes a larger proportion of direct and a smaller proportion of fixed interest obligations than before the war. While India's official sterling debt has been practically wiped out, the Government of India has incurred new obligations in dollars. If India could meet its pre-war obligations on foreign investment without any great strain on its balance of payments, it should be able to meet future obligations, resulting from any new debts, provided its balance of payments position in the future is not materially worse than in the past.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 228 |
| Release | : 1989-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451973039 |
Download IMF Staff papers Book in PDF, ePub and Kindle
Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. The causes of such changes for the high-inflation episodes immediately preceding the recent “heterodox” attempts at stabilization in Argentina, Brazil, and Israel are examined by computing historical decompositions of these episodes based on vector autoregressions, distinguishing between the “fiscal” and “balance of payments” views of their causes. In all three cases, nominal exchange rate shocks played the dominant role in triggering an acceleration of inflation. [JEL 134]
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 236 |
| Release | : 1991-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451973136 |
Download IMF Staff papers Book in PDF, ePub and Kindle
Trade liberalization in developing countries is frequently opposed on the grounds that, because it is likely to cause a deterioration in the external balance, it may not be a viable policy option for countries facing foreign exchange constraints. Recent literature suggests, however, an ambiguous relationship between tariff changes and the current account. This paper shows that if liberalization involves reducing tariffs on imported intermediate inputs (a reform that has figured prominently in developing countries), then the current account may improve or deteriorate, depending on the level of initial trade distortions and the structure of the economy.[JEL F13, F32, F41]
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 191 |
| Release | : 1953-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451949421 |
Download IMF Staff papers Book in PDF, ePub and Kindle
This paper discusses the causes of the imbalance of international payments. Under the forces of supply and demand, gold came to have a certain value in relation to goods, which enabled it to function smoothly as a medium of reserve and settlement. This value varied somewhat from time to time under the influence of new discoveries or the exhaustion of existing sources. Of all the particular imbalances in the international payments pattern, that between the dollar and other currencies is the greatest. Unfortunately, it is extremely difficult to measure the amount of imbalance existing. Europe has made considerable and, to some extent, successful efforts to expand direct sales to the United States. It is in the sphere of finished manufactures principally that one could hope for an expansion of exports by an organized export drive or currency devaluation, other categories of goods depending more on the level of US production and national income.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 212 |
| Release | : 2007-05-30 |
| Genre | : Business & Economics |
| ISBN | : 1589066510 |
Download IMF Staff Papers, Volume 54, No. 3 Book in PDF, ePub and Kindle
This issue features a timely paper by Vladimir Klyuev and Paul Mills on the role of personal wealth and home equity withdrawal in the decline in the U.S. saving rate. Lusine Lusinyan and Leo Bonato explain how work absence in 18 European countries affects labor supply and demand. And a paper by Paolo Manasse (University of Bologna) entitled "Deficit Limits and Fiscal Rules for Dummies" examines fiscal frameworks.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 256 |
| Release | : 1986-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451972881 |
Download IMF Staff papers Book in PDF, ePub and Kindle
This paper examines how the effects of fiscal policies are transmitted internationally. The analysis emphasizes that fiscal shifts of recent years constitute major disturbances to saving and investment flows. An increase in a country's fiscal deficit corresponds to a higher level of public sector dissaving. For increased foreign saving to enter through the capital account, the current account deficit must rise via an appreciating real exchange rate. An autonomous rise in investment, such as that induced by US tax measures passed in 1981–1982, produces qualitatively similar effects in the short run. Simulations suggest that a permanent fiscal deficit reduction of 1 percent of capacity output in any one of the three largest industrial countries produces a significant decline in real interest rates and a large initial depreciation in that country's currency. US tax incentives for investment would induce higher interest rates and an appreciated dollar. Simulations of the combined effects of increased US investment and observed movements in inflation-adjusted deficits in all three countries in 1981–1985 suggest that substantial fractions of these interest and exchange rate movements were related to shifts in fiscal policy.
