CetinGrad.org

Free eBooks. A list of all the free ePUB, PDF and MOBI eBooks published on CetinGrad.org

Download Foreign Exchange Intervention in Inflation Targeters in Latin America PDF

Foreign Exchange Intervention in Inflation Targeters in Latin America


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781484375686
Pages : 320 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.7/5 (568 users download)

GO BOOK!

Summary Book Review Foreign Exchange Intervention in Inflation Targeters in Latin America by Mr.Marcos d Chamon:

Download or read book Foreign Exchange Intervention in Inflation Targeters in Latin America written by Mr.Marcos d Chamon and published by International Monetary Fund. This book was released on 2019-02-28 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate regimes. The Latin American experience can be informative because some of its largest countries adopted floating exchange rate regimes and inflation targeting while continuing to intervene in foreign exchange markets. This edited volume reviews detailed accounts from several Latin American countries’ central banks, and it provides insight into how and with what aim many interventions were decided and implemented. This book documents the effectiveness of intervention and pays special attention to the role of foreign exchange intervention policy within inflation-targeting monetary frameworks. The main lesson from Latin America’s foreign exchange interventions, in the context of inflation targeting, is that the region has had a considerable degree of success. Transparency and a clear communication policy have been key. For economies that are not highly dollarized, rules-based intervention helped contain financial instability and build international reserves while preserving inflation targets. The Latin American experience can help other countries in the design and implementation of their policies.

Download Foreign Exchange Intervention in Inflation Targeters in Latin America PDF

Foreign Exchange Intervention in Inflation Targeters in Latin America


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781484393024
Pages : 320 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.9/5 (32 users download)

GO BOOK!

Summary Book Review Foreign Exchange Intervention in Inflation Targeters in Latin America by Mr.Marcos d Chamon:

Download or read book Foreign Exchange Intervention in Inflation Targeters in Latin America written by Mr.Marcos d Chamon and published by International Monetary Fund. This book was released on 2019-03-01 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate regimes. The Latin American experience can be informative because some of its largest countries adopted floating exchange rate regimes and inflation targeting while continuing to intervene in foreign exchange markets. This edited volume reviews detailed accounts from several Latin American countries’ central banks, and it provides insight into how and with what aim many interventions were decided and implemented. This book documents the effectiveness of intervention and pays special attention to the role of foreign exchange intervention policy within inflation-targeting monetary frameworks. The main lesson from Latin America’s foreign exchange interventions, in the context of inflation targeting, is that the region has had a considerable degree of success. Transparency and a clear communication policy have been key. For economies that are not highly dollarized, rules-based intervention helped contain financial instability and build international reserves while preserving inflation targets. The Latin American experience can help other countries in the design and implementation of their policies.

Download Foreign Exchange Intervention in Inflation Targeters in Latin America PDF

Foreign Exchange Intervention in Inflation Targeters in Latin America


Author :
Publisher :
Release Date :
ISBN 10 : 1484393031
Pages : 298 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.8/5 (439 users download)

GO BOOK!

Summary Book Review Foreign Exchange Intervention in Inflation Targeters in Latin America by Marcos Chamon:

Download or read book Foreign Exchange Intervention in Inflation Targeters in Latin America written by Marcos Chamon and published by . This book was released on 2019 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download Excerpt PDF

Excerpt


Author :
Publisher :
Release Date :
ISBN 10 : OCLC:1107362217
Pages : pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4./5 ( users download)

GO BOOK!

Summary Book Review Excerpt by :

Download or read book Excerpt written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download Foreign Exchange Intervention in Inflation Targeters in Latin America PDF

Foreign Exchange Intervention in Inflation Targeters in Latin America


Author :
Publisher :
Release Date :
ISBN 10 : 148439304X
Pages : 298 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.8/5 (439 users download)

GO BOOK!

Summary Book Review Foreign Exchange Intervention in Inflation Targeters in Latin America by Marcos Chamon:

Download or read book Foreign Exchange Intervention in Inflation Targeters in Latin America written by Marcos Chamon and published by . This book was released on 2019 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download Intervention Under Inflation Targeting--When Could It Make Sense? PDF

Intervention Under Inflation Targeting--When Could It Make Sense?


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781513526027
Pages : 22 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.2/5 (62 users download)

GO BOOK!

Summary Book Review Intervention Under Inflation Targeting--When Could It Make Sense? by Mr.David J Hofman:

Download or read book Intervention Under Inflation Targeting--When Could It Make Sense? written by Mr.David J Hofman and published by International Monetary Fund. This book was released on 2020-01-17 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the motives inflation-targeting central banks in emerging markets may have for intervening in foreign exchange markets and evaluate the case for such interventions based on the existing literature. Our findings suggest that the rationale for interventions depends on initial conditions and country-specific circumstances. The case is strongest in the presence of large currency mismatches or underdeveloped markets. While interventions can have benefits in the short-term, sustained over time they could entrench unfavorable initial conditions, though more work is needed to establish this empirically. A first effort to measure the cost of interventions to the credibility of policy frameworks suggests that the negative impact may be smaller than often assumed—at least for the set of more sophisticated inflation-targeting emerging-market central banks considered here.

Download Foreign Exchange Intervention: A Dataset of Public Data and Proxies PDF

Foreign Exchange Intervention: A Dataset of Public Data and Proxies


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781513566672
Pages : 55 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.6/5 (667 users download)

GO BOOK!

Summary Book Review Foreign Exchange Intervention: A Dataset of Public Data and Proxies by Gustavo Adler:

Download or read book Foreign Exchange Intervention: A Dataset of Public Data and Proxies written by Gustavo Adler and published by International Monetary Fund. This book was released on 2021-02-19 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreign exchange intervention (FXI) is a highly debated topic. Yet, comprehensive and comparable data on FXI is hard to find. This paper provides a new dataset of FXI covering a large number of countries over the period 2000-20 at monthly and quarterly frequencies. It includes publicly available data for about 40 countries and carefully constructed proxies for 122 countries. Proxies are focused on both spot and derivative transactions that alter the central bank’s foreign currency position and account for a wide range of central bank operations, including vis-à-vis residents, the first proxy to do so to our knowledge. The paper discusses the merits of the new proxy relative to coarser measures traditionally used like the change in reserves, and potential definitional differences with published data. The paper also presents stylized facts using our newly constructed FXI proxies.

Download Exchange-Rate Swings and Foreign Currency Intervention PDF

Exchange-Rate Swings and Foreign Currency Intervention


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9798400215322
Pages : 41 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4./5 ( users download)

GO BOOK!

Summary Book Review Exchange-Rate Swings and Foreign Currency Intervention by Andrew Filardo:

Download or read book Exchange-Rate Swings and Foreign Currency Intervention written by Andrew Filardo and published by International Monetary Fund. This book was released on 2022-07-29 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a new approach for exploring the effectiveness of foreign currency intervention, focusing on real exchange cycles. Using band spectrum regression methods, it examines the role of macroeconomic fundamentals in determining the equilibrium real exchange rate at short-, medium-, and low frequencies. Next, it assesses the effectiveness of FX intervention depending on the degree of cycle-specific misalignments for 26 advanced- and emerging market economies, covering the period 1990–2018, and using different techniques to mitigate endogeneity concerns. Evidence supports the hypothesis that central banks can lean effectively against short-run cyclical misalignments of the real exchange rate. The effects are present in quarterly data—i.e., at policy-relevant horizons. The effectiveness of intervention rises with the size of the misalignment, and with the duration of one-sided interventions. FX sales appear to be somewhat more effective than FX purchases, and intervention is less effective in more liquid FX markets.

Download Foreign Exchange Intervention Rules for Central Banks: A Risk-based Framework PDF

Foreign Exchange Intervention Rules for Central Banks: A Risk-based Framework


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781513569406
Pages : 33 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.6/5 (94 users download)

GO BOOK!

Summary Book Review Foreign Exchange Intervention Rules for Central Banks: A Risk-based Framework by Romain Lafarguette:

Download or read book Foreign Exchange Intervention Rules for Central Banks: A Risk-based Framework written by Romain Lafarguette and published by International Monetary Fund. This book was released on 2021-02-12 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.

Download Exchange Rates in South America's Emerging Markets PDF

Exchange Rates in South America's Emerging Markets


Author :
Publisher : Cambridge University Press
Release Date :
ISBN 10 : 9781108897921
Pages : pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.9/5 (792 users download)

GO BOOK!

Summary Book Review Exchange Rates in South America's Emerging Markets by Luis Molinas Sosa:

Download or read book Exchange Rates in South America's Emerging Markets written by Luis Molinas Sosa and published by Cambridge University Press. This book was released on 2020-07-31 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Since Meese and Rogoff (1983) results showed that no model could outperform a random walk in predicting exchange rates. Many papers have tried to find a forecasting methodology that could beat the random walk, at least for certain forecasting periods. This Element compares the Purchasing Power Parity, the Uncovered Interest Rate, the Sticky Price, the Bayesian Model Averaging, and the Bayesian Vector Autoregression models to the random walk benchmark in forecasting exchange rates between most South American currencies and the US Dollar, and between the Paraguayan Guarani and the Brazilian Real and the Argentinian Peso. Forecasts are evaluated under the criteria of Root Mean Square Error, Direction of Change, and the Diebold-Mariano statistic. The results indicate that the two Bayesian models have greater forecasting power and that there is little evidence in favor of using the other three fundamentals models, except Purchasing Power Parity at longer forecasting horizons.

Download Peru PDF

Peru


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781513526126
Pages : 60 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.2/5 (612 users download)

GO BOOK!

Summary Book Review Peru by International Monetary Fund. Western Hemisphere Dept.:

Download or read book Peru written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2020-01-13 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper evaluates features of the Peruvian tax system that may have contributed to weak revenue growth, as well as reforms to strengthen the tax system. Using data on domestic tax collection in conjunction with cross-country data on tax rates, collection and tax expenditures, we attempt to shed light on the factors that distinguish tax revenue mobilization in Peru from other countries in the region. The paper also discusses recent reforms in tax policy and tax administration, and present advice for continued progress in these areas. Elimination of multiple tax regimes for small businesses can provide a boost to revenues from corporate taxes. An IMF technical evaluation of the small business tax regimes finds that a rationalization of the two existing regimes into one with the same marginal rate as the general regime will result in revenue gains of around 0.14 percent of GDP. There is ample room to increase the contribution of excises and property taxes to overall tax revenues. Relative to the regional average, Peru will continue to lag peer economies even if the current reform performs at full potential. This suggests room for further policy reforms to bring excise taxes in line with the levels of comparable economies.

Download The Economies of Latin America PDF

The Economies of Latin America


Author :
Publisher : Walter de Gruyter GmbH & Co KG
Release Date :
ISBN 10 : 9783110674934
Pages : 262 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.7/5 (493 users download)

GO BOOK!

Summary Book Review The Economies of Latin America by Cesar Rodriguez:

Download or read book The Economies of Latin America written by Cesar Rodriguez and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-09-20 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: While Latin America accounts for approximately 7 percent of the world economy, easily accessible information on the economies of the region is not always easy to find. The existing literature on Latin American economics usually assumes some previous familiarity with the region and is focused on government policy choices. The Economies of Latin America is a book for the general reader needing a quick introduction to the economics of the region. The book is composed of three parts: the first explains Latin America’s economic history and a description of the central economic challenges of the region. The second offers country-specific details. The final part deals with the economic future of the region where the authors put forth a Latin American version of success. This book is a useful, in-depth introduction for students of Latin American economics as well as the general reader.

Download Paraguay: Selected Issues PDF

Paraguay: Selected Issues


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9798400213885
Pages : 28 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4./5 ( users download)

GO BOOK!

Summary Book Review Paraguay: Selected Issues by International Monetary Fund. Western Hemisphere Dept.:

Download or read book Paraguay: Selected Issues written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2022-06-21 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paraguay: Selected Issues

Download One Shock, Many Policy Responses PDF

One Shock, Many Policy Responses


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781513521503
Pages : 44 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.2/5 (15 users download)

GO BOOK!

Summary Book Review One Shock, Many Policy Responses by Rui Mano:

Download or read book One Shock, Many Policy Responses written by Rui Mano and published by International Monetary Fund. This book was released on 2020-01-17 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers have relied on a wide range of policy tools to cope with capital flow shocks. And yet, the effects and interaction of these policies remain under debate, as does the motivation for using them. In this paper, quantile local projections are used to estimate the entire distribution of future policy responses to portfolio flow shocks for 20 emerging markets and understand the variety of policy choices across the sample. To assuage endogeneity concerns, estimates rely on the fact that global capital flows are exogenous from the viewpoint of any one of these countries. The paper finds that: (i) policy responses to capital flow shocks are heterogeneous across countries, fat-tailed—“extreme” responses tend to be more elastic than “typical” responses—and asymmetric—“extreme” responses tend to be more elastic with respect to outflows than to inflows; (ii) country characteristics are linked to policy choices—with cross-country differences in forex intervention relating to the size of balance sheet vulnerabilities and the depth of the forex market; (iii) the use of targeted macroprudential policy and capital flows management measures can help “free the hands” of monetary policy by allowing it to focus more squarely on domestic cyclical developments.

Download Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework PDF

Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework


Author :
Publisher : International Monetary Fund
Release Date :
ISBN 10 : 9781513549651
Pages : 59 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.4/5 (965 users download)

GO BOOK!

Summary Book Review Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework by Mr.Luis Brandao-Marques:

Download or read book Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework written by Mr.Luis Brandao-Marques and published by International Monetary Fund. This book was released on 2020-07-07 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes a new approach to assess the costs and benefits of using different policy tools—macroprudential, monetary, foreign exchange interventions, and capital flow management—in response to changes in financial conditions. The approach evaluates net benefits of policies using quadratic loss functions, estimating policy effects on the full distribution of future output growth and inflation with quantile regressions. Tightening macroprudential policy dampens downside risks to growth stemming from loose financial conditions, and is beneficial in net terms. By contrast, tightening monetary policy entails net losses, calling for caution in the use of monetary policy to “lean against the wind.” These findings hold when policies are used in response to easing global financial conditions. Buying foreign-exchange or tightening capital controls has small net benefits.

Download Brookings Papers on Economic Activity: Fall 2019 PDF

Brookings Papers on Economic Activity: Fall 2019


Author :
Publisher : Brookings Institution Press
Release Date :
ISBN 10 : 9780815738299
Pages : 541 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.3/5 (829 users download)

GO BOOK!

Summary Book Review Brookings Papers on Economic Activity: Fall 2019 by Janice Eberly:

Download or read book Brookings Papers on Economic Activity: Fall 2019 written by Janice Eberly and published by Brookings Institution Press. This book was released on 2020-08-25 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues. Contents: All Medicaid Expansions Are Not Created Equal: The Geography and Targeting of the Affordable Care Act Craig Garthwaite, John Graves, Tal Gross, Zeynal Karaca, Victoria Marone, and Matthew J. Notowidigdo Policies and Payoffs to Addressing America’s College Graduation Deficit Christopher Avery, Jessica Howell, Matea Pender, and Bruce Sacerdote The Optimal Inflation Target and the Natural Rate of Interest Philippe Andrade, Jordi Galí, Hervé Le Bihan, and Julien Matheron Inflation Dynamics: Dead, Dormant, or Determined Abroad? Kristen J. Forbes Macri’s Macro: The Elusive Road to Stability and Growth Federico Sturzenegger Progressive Wealth Taxation Emmanuel Saez and Gabriel Zucman

Download Escaping the Governance Trap PDF

Escaping the Governance Trap


Author :
Publisher : Springer Nature
Release Date :
ISBN 10 : 9783030990237
Pages : 152 pages
File Format : PDF, EPUB, TEXT, KINDLE or MOBI
Rating : 4.9/5 (23 users download)

GO BOOK!

Summary Book Review Escaping the Governance Trap by Neil Shenai:

Download or read book Escaping the Governance Trap written by Neil Shenai and published by Springer Nature. This book was released on 2022-08-14 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has fundamentally altered the global economic landscape, with the smallest and most vulnerable economies particularly hard hit. In the Northern Triangle countries of El Salvador, Guatemala, and Honduras, the crisis has cost lives and livelihoods. It has impacted both the demand and supply sides of the economy, posing difficult policy tradeoffs. Risks to macroeconomic stability are now growing. Each country will likely exit the crisis with an even greater need for reform. Escaping the Governance Trap: Economic Reform in the Northern Triangle provides a framework for understanding the challenges of those three Central American nations, proposing that the lack of governing capacity in each country is a crucial problem. This book argues that economic reforms can help the Northern Triangle countries escape their governance traps and identifies priority areas of economic reform. Sectors covered include fiscal policy, monetary and exchange rate policy, financial access and deterrence, and structural reforms. It also highlights the role that stakeholders like the United States can play to help in these reform efforts, and how those outcomes affect the United States and the global community. All told, Escaping the Governance Trap provides an accessible, direct account of the Northern Triangle’s economic challenges and how to fix them.