Hazards in Implementing a Monetary Conditions Index PDF Download
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Author:
Publisher:
ISBN: 9788257089672
Category :
Languages : en
Pages : 790
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Book Description
Author:
Publisher:
ISBN: 9788257089672
Category :
Languages : en
Pages : 790
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
Author: Mr.Andrew Swiston
Publisher: International Monetary Fund
ISBN: 1451870191
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
This paper uses vector autoregressions and impulse-response functions to construct a U.S. financial conditions index (FCI). Credit availability—proxied by survey results on lending standards—is an important driver of the business cycle, accounting for over 20 percent of the typical contribution of financial factors to growth. A net tightening in lending standards of 20 percentage points reduces economic activity by 3⁄4 percent after one year and 11⁄4 percent after two years. Much of the impact of monetary policy on the economy also works through its effects on credit supply, which is evidence supporting the existence of a credit channel of monetary policy. Shocks to corporate bond yields, equity prices, and real exchange rates also contribute to fluctuations in the FCI. This FCI is an accurate predictor of real GDP growth, anticipating turning points in activity with a lead time of six to nine months. 15B
Author: Van-Nam Huynh
Publisher: Springer
ISBN: 3319134493
Category : Technology & Engineering
Languages : en
Pages : 486
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Book Description
This edited book contains several state-of-the-art papers devoted to econometrics of risk. Some papers provide theoretical analysis of the corresponding mathematical, statistical, computational, and economical models. Other papers describe applications of the novel risk-related econometric techniques to real-life economic situations. The book presents new methods developed just recently, in particular, methods using non-Gaussian heavy-tailed distributions, methods using non-Gaussian copulas to properly take into account dependence between different quantities, methods taking into account imprecise ("fuzzy") expert knowledge, and many other innovative techniques. This versatile volume helps practitioners to learn how to apply new techniques of econometrics of risk, and researchers to further improve the existing models and to come up with new ideas on how to best take into account economic risks.
Author:
Publisher: Lulu.com
ISBN: 9291316695
Category : Bank capital
Languages : en
Pages : 294
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Book Description
Author: Lavan Mahadeva
Publisher: Routledge
ISBN: 1135126631
Category : Business & Economics
Languages : en
Pages : 692
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Book Description
This broad-ranging collection assesses the links between targets and central bank independence, accountability and the transparency of monetary policy. Renowned experts contribute to this original and comprehensive text which will be of great value to professional economists and students of economics and banking alike. Monetary Policy Frameworks in a Global Context was named Book of the Year, 2000 by Central Banking journal
Author: Graeme A. Guthrie
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 32
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Book Description
Author: Mr.Eduardo Morón
Publisher: International Monetary Fund
ISBN: 1451845855
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
One distinguishable characteristic of emerging market economies is that they are not financially robust. These economies are incapable of smoothing out large external shocks, as sudden capital outflows imply large and abrupt swings in the real exchange rate. Using a small open-economy model, this paper examines alternative monetary policy rules for economies with different degrees of liability dollarization. The paper answers the question of how efficient it is to use inflation targeting under high liability dollarization. Our findings suggest that it might be optimal to follow a nonlinear policy rule that defends the real exchange rate in a financially vulnerable economy.
Author: Mr.Ananthakrishnan Prasad
Publisher: International Monetary Fund
ISBN: 1484397010
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
The growth-at-risk (GaR) framework links current macrofinancial conditions to the distribution of future growth. Its main strength is its ability to assess the entire distribution of future GDP growth (in contrast to point forecasts), quantify macrofinancial risks in terms of growth, and monitor the evolution of risks to economic activity over time. By using GaR analysis, policymakers can quantify the likelihood of risk scenarios, which would serve as a basis for preemptive action. This paper offers practical guidance on how to conduct GaR analysis and draws lessons from country case studies. It also discusses an Excel-based GaR tool developed to support the IMF’s bilateral surveillance efforts.
Author: Mary Morgan
Publisher: Routledge
ISBN: 113457312X
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
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.
