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Global Liquidity and Asset Prices
			: Measurement, Implications, and Spillovers

Global Liquidity and Asset Prices : Measurement, Implications, and Spillovers »

Volume/Issue: 1999/168

Series: IMF Working Papers

Author(s): Klaas Baks , and Charles Kramer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1999

DOI: http://dx.doi.org/10.5089/9781451858242.001

ISBN: 9781451858242

Keywords: Liquidity, money growth, international spillovers, monetary policy, real interest rates, monetary aggregates

Much recent commentary suggests that global liquidity has influenced financial conditions in the major international markets to an important degree, and that excess liquidity in one financial center can influence f...

GPM6
			: The Global Projection Model with 6 Regions

GPM6 : The Global Projection Model with 6 Regions »

Volume/Issue: 2013/87

Series: IMF Working Papers

Author(s): Ioan Carabenciov , Charles Freedman , Roberto Garcia-Saltos , Douglas Laxton , Ondra Kamenik , and Petar Manchev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2013

DOI: http://dx.doi.org/10.5089/9781484318942.001

ISBN: 9781484318942

Keywords: Macroeconomic Modeling, Bayesian Estimation, exchange rate, inflation, real exchange rate, real interest rate, Model Construction and Estimation, Monetary Policy (Targets, Instruments, and Effects),

This is the sixth of a series of papers that are being written as part of a project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which economist...

Implications of Globalization for Monetary Policy

Implications of Globalization for Monetary Policy »

Volume/Issue: 2001/184

Series: IMF Working Papers

Author(s): Helmut Wagner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

DOI: http://dx.doi.org/10.5089/9781451859362.001

ISBN: 9781451859362

Keywords: inflation, central bank, price stability, inflation targeting, International Economics: General, And The Supply Of Money And Credit, general, macroeconomic Aspects Of International Trade And Finance,

This paper argues that the implications of globalization for monetary policy come mainly through two channels: On the one hand, the many structural changes that are associated with the globalization process cause a...

Income Inequality
			: Does Inflation Matter?

Income Inequality : Does Inflation Matter? »

Volume/Issue: 1998/7

Series: IMF Working Papers

Author(s): Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1998

DOI: http://dx.doi.org/10.5089/9781451928549.001

ISBN: 9781451928549

Keywords: Income distribution, Kuznets hypothesis, low inflation, price stability, effects of inflation, high inflation

This paper contributes to the income inequality literature that is based on the traditional Kuznets model. Price stability, financial deepening, level of development, state employment, and fiscal redistribution are...

Inflation and Income Inequality
			: Is Food Inflation Different?

Inflation and Income Inequality : Is Food Inflation Different? »

Volume/Issue: 2012/147

Series: IMF Working Papers

Author(s): James Walsh , and Jiangyan Yu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504163.001

ISBN: 9781475504163

Keywords: core inflation, monetary fund, central bank, monetary policy, high inflation, Personal Income, Wealth, and Their Distributions, Urban, Rural

There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature assessing the effect of rising food prices on the poor. This paper attempts to combine these stran...

Inflation in Poland
			: How Much Can Globalization Explain?

Inflation in Poland : How Much Can Globalization Explain? »

Volume/Issue: 2007/41

Series: IMF Working Papers

Author(s): Céline Allard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2007

DOI: http://dx.doi.org/10.5089/9781451866056.001

ISBN: 9781451866056

Keywords: transition, price inflation, price stability, national bank,

This paper analyses how globalization has affected inflation in the New EU Members States (NMS), and Poland in particular, since 1995. It finds prices have become less sensitive to domestic economic conditions as t...

Inflation, Inequality, and Social Conflict

Inflation, Inequality, and Social Conflict »

Volume/Issue: 2006/158

Series: IMF Working Papers

Author(s): Christopher Crowe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

DOI: http://dx.doi.org/10.5089/9781451864182.001

ISBN: 9781451864182

Keywords: inflation tax, inflation tax rate, monetary fund, average inflation, Personal Income, Wealth, and Their Distributions, Capitalist Systems: Political Economy,

This paper presents and then tests a political economy model to analyze the observed positive relationship between income inequality and inflation. The model's key features are unequal access to both inflation-hedg...

Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Innocent Bystanders? Monetary Policy and Inequality in the U.S. »

Volume/Issue: 2012/199

Series: IMF Working Papers

Author(s): John Silvia , Lorenz Kueng , Olivier Coibion , and Yuriy Gorodnichenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

DOI: http://dx.doi.org/10.5089/9781475505498.001

ISBN: 9781475505498

Keywords: Consumption Inequality, inflation, contractionary monetary policy, inflation target, monetary shocks, Business Fluctuations, And Cycles, money And Interest Rates, monetary Policy, Central Banking

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequa...

Macroeconomic Performance and Poverty Reduction

Macroeconomic Performance and Poverty Reduction »

Volume/Issue: 2003/72

Series: IMF Working Papers

Author(s): Anne Epaulard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

DOI: http://dx.doi.org/10.5089/9781451849363.001

ISBN: 9781451849363

Keywords: Growth, Macroeconomic Policies, inflation, terms of trade, transition economies, trade openness, Open Economy Macroeconomics, Measurement and Analysis of Poverty,

This paper investigates the link between macroeconomic performance and the change in the poverty rate among 47 episodes of growth and 52 episodes of economic downturn in developing and transition economies. We show...

Monetary Policy in Low Income Countries in the Face of the Global Crisis
			: The Case of Zambia

Monetary Policy in Low Income Countries in the Face of the Global Crisis : The Case of Zambia »

Volume/Issue: 2012/94

Series: IMF Working Papers

Author(s): Jaromir Benes , Andrew Berg , Rafael Portillo , Mai Dao , and Alfredo Baldini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

DOI: http://dx.doi.org/10.5089/9781475502848.001

ISBN: 9781475502848

Keywords: Global Financial Crisis, Low-Income Countries, inflation, terms of trade, aggregate demand, money growth, International Finance Forecasting and Simulation,

We develop a DSGE model with a banking sector to analyze the impact of the financial crisis on Zambia and the role of the monetary policy response. We view the crisis as a combination of three related shocks: a wor...