Financial Infusion and Exiting from a Money Rule /
Money demand often surges after successful macroeconomic stabilization. This paper gives a name-financial infusion-to these surges because their size, unpredictability, and concurrence with other 'success shocks' pose unique challenges to policy, especially under a money rule. An examinati...
| मुख्य लेखक: | |
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| स्वरूप: | पत्रिका |
| भाषा: | English |
| प्रकाशित: |
Washington, D.C. :
International Monetary Fund,
1998.
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| श्रृंखला: | IMF Working Papers; Working Paper ;
No. 1998/031 |
| ऑनलाइन पहुंच: | Full text available on IMF |
| सारांश: | Money demand often surges after successful macroeconomic stabilization. This paper gives a name-financial infusion-to these surges because their size, unpredictability, and concurrence with other 'success shocks' pose unique challenges to policy, especially under a money rule. An examination of 26 stabilization episodes shows that money to GDP can be expected to decline before stabilization and rise sharply thereafter. Analysis of the policy response to financial infusion under a money rule concludes that it amplifies output and price volatility, even if built into the rule. Finally, the main elements of an exit strategy from a money rule to an exchange rate or inflation target are discussed. |
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| वस्तु वर्णन: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| भौतिक वर्णन: | 1 online resource (41 pages) |
| स्वरूप: | Mode of access: Internet |
| आईएसएसएन: | 1018-5941 |
| अभिगमन: | Electronic access restricted to authorized BRAC University faculty, staff and students |