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  1. A medium-scale DSGE model for the integrated policy framework
    Published: 2022 JAN
    Publisher:  International Monetary Fund, [Washington, D.C.]

    This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic... more

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    This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic general equilibrium (DSGE) model of the world economy, featuring a range of nominal and real rigidities, extensive macrofinancial linkages with endogenous risk, and diverse spillover transmission channels. In the pursuit of inflation and output stabilization objectives, it is optimal to adjust all policies in response to domestic and global financial cycle upturns and downturns when feasible-including foreign exchange intervention and capital flow management under some conditions-to widely varying degrees depending on the structural characteristics of the economy. The framework is applied empirically to four small open advanced and emerging market economies

     

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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781616359706
    Other identifier:
    Series: Working paper / International Monetary Fund ; WP/22, 15
    Subjects: Monetary Policy; Fiscal Policy; Macroprudential Policy; Dynamic Stochastic General Equilibrium Model; Small Open Economy; Macroeconomic Policy and Macroeconomic Aspects of Public Finance; Monetary Policy, Central Banking, and the Supply of Money; Monetary Policy, Foreign Exchange Intervention and Fiscal Policy; Policy Transmission Mechanisms; Price Inflation; Prices, Business Fluctuations and Cycles; Foreign Exchange Intervention; Capital Flow Management; Industries: Financial Services; Exports and Imports; Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data); Monetary Policy, Central Banking, and the Supply of Money and Credit: General; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General; Banks; Depository Institutions; Micro Finance Institutions; Macroeconomics: Consumption; Saving; Wealth; Foreign Exchange; Price Level; Deflation; International Investment; Long-term Capital Movements; Economic & financial crises & disasters; Economics of specific sectors; Finance; Currency; Foreign exchange; International economics; Financial institutions; Consumption; National accounts; Macroeconomics; Inflation; Economics: General; Balance of payments; Currency crises; Informal sector; Economics; Mortgages; Consumption; Economics; Foreign exchange; Prices; Capital movements
    Scope: 1 Online-Ressource (circa 99 Seiten), Illustrationen
  2. A medium-scale DSGE model for the integrated policy framework
    Published: 2022 JAN
    Publisher:  International Monetary Fund, [Washington, D.C.]

    This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Unlimited inter-library loan, copies and loan

     

    This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic general equilibrium (DSGE) model of the world economy, featuring a range of nominal and real rigidities, extensive macrofinancial linkages with endogenous risk, and diverse spillover transmission channels. In the pursuit of inflation and output stabilization objectives, it is optimal to adjust all policies in response to domestic and global financial cycle upturns and downturns when feasible-including foreign exchange intervention and capital flow management under some conditions-to widely varying degrees depending on the structural characteristics of the economy. The framework is applied empirically to four small open advanced and emerging market economies

     

    Export to reference management software   RIS file
      BibTeX file
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781616359706
    Other identifier:
    Series: Working paper / International Monetary Fund ; WP/22, 15
    Subjects: Monetary Policy; Fiscal Policy; Macroprudential Policy; Dynamic Stochastic General Equilibrium Model; Small Open Economy; Macroeconomic Policy and Macroeconomic Aspects of Public Finance; Monetary Policy, Central Banking, and the Supply of Money; Monetary Policy, Foreign Exchange Intervention and Fiscal Policy; Policy Transmission Mechanisms; Price Inflation; Prices, Business Fluctuations and Cycles; Foreign Exchange Intervention; Capital Flow Management; Industries: Financial Services; Exports and Imports; Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data); Monetary Policy, Central Banking, and the Supply of Money and Credit: General; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General; Banks; Depository Institutions; Micro Finance Institutions; Macroeconomics: Consumption; Saving; Wealth; Foreign Exchange; Price Level; Deflation; International Investment; Long-term Capital Movements; Economic & financial crises & disasters; Economics of specific sectors; Finance; Currency; Foreign exchange; International economics; Financial institutions; Consumption; National accounts; Macroeconomics; Inflation; Economics: General; Balance of payments; Currency crises; Informal sector; Economics; Mortgages; Consumption; Economics; Foreign exchange; Prices; Capital movements
    Scope: 1 Online-Ressource (circa 99 Seiten), Illustrationen