Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper focuses on euro area policies. The monetary policy stance remains appropriate for now. Fiscal policies are falling well short of consolidation requirements, and the area remains insufficiently prepared for the looming demographic shock. Past fiscal policy failures, notably insufficient adjustment during economic upswings, have strained the Stability and Growth Pact (SGP) and EMU’s fiscal framework. IMF staff has welcomed certain elements of flexibility in the SGP reforms while regretting the vagueness and open-endedness of others. Center-led structural reform programs have struggled to deliver.

Inflation --- Labor --- Macroeconomics --- Public Finance --- Industries: Financial Services --- Price Level --- Deflation --- Energy: Demand and Supply --- Prices --- Institutions and the Macroeconomy --- Fiscal Policy --- Labor Economics: General --- Labour --- income economics --- Finance --- Oil prices --- Structural reforms --- Employment --- Macrostructural analysis --- Price stabilization --- Fiscal policy --- Labor economics --- Economic theory --- Germany --- Income economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This 2005 Article IV Consultation for Samoa reports that the combination of sound economic management and structural reform had led to robust growth, low inflation, sound public finances, and a comfortable external position. With continued commitment to sound macroeconomic and reform policies, Samoa became one of the best managed economies in the Pacific Island region. The level of public debt has steadily declined from more than 90 percent to about 50 percent. Samoa also made progress toward the Millennium Development Goals.

Budgeting --- Exports and Imports --- Labor --- Macroeconomics --- National Budget --- Budget Systems --- Wages, Compensation, and Labor Costs: General --- Trade: General --- Remittances --- Institutions and the Macroeconomy --- Budgeting & financial management --- International economics --- Labour --- income economics --- Budget planning and preparation --- Wage adjustments --- Exports --- Imports --- Public financial management (PFM) --- International trade --- Balance of payments --- Budget --- Wages --- International finance --- American Samoa --- Income economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

La edición en Internet del Boletín del FMI, que se actualiza varias veces a la semana, contiene numerosos artículos sobre temas de actualidad en el ámbito de las políticas y la economía. Consulte las últimas investigaciones del FMI, lea entrevistas y escuche podcasts de los principales economistas del FMI sobre importantes temas relacionados con la economía mundial. www.imf.org/external/pubs/ft/survey/so/home.aspx.

Actuarial Studies --- Debt Management --- Debt --- Debts, Public --- Finance --- Finance: General --- Financial Markets and the Macroeconomy --- Financial sector development --- Financial services industry --- Financial soundness indicators --- General Financial Markets: Government Policy and Regulation --- Insurance & actuarial studies --- Insurance Companies --- Insurance --- Labor --- Macroeconomics --- Pensions --- Public finance & taxation --- Public Finance --- Revenue administration --- Revenue --- Sovereign Debt --- Taxation, Subsidies, and Revenue: General --- India

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit and liquid liabilities. On the other hand, the banking and currency crisis literature finds that monetary aggregates, such as domestic credit, are among the best predictors of crises and their related economic downturns. This paper accounts for these contrasting effects based on the distinction between the short- and long-run effects of financial intermediation.

Banks and banking. --- Electronic books. -- local. --- Financial crises. --- Financial services industry. --- Banks and Banking --- Finance: General --- Financial Risk Management --- Macroeconomics --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Macroeconomic Analyses of Economic Development --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- Financial Crises --- Financial Markets and the Macroeconomy --- Macroeconomics: Production --- Economic & financial crises & disasters --- Finance --- Financial crises --- Systemic crises --- Banking crises --- Financial sector development --- Production growth --- Financial markets --- Production --- Financial services industry --- Economic theory --- Congo, Democratic Republic of the

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper reviews central bank legislation in 24 countries in Latin America and the Caribbean during the 1990s. Using panel regressions, we find a negative relationship between legal central bank independence (CBI) and inflation. This result holds for three alternative measures of CBI and after controlling for international inflation, banking crises, and exchange regimes. The result is also robust to the inclusion of a broader indicator of structural reforms that usually go along with changes in central bank legislation, illustrating the complementary nature of various aspects of economic reform. The paper fails, however, to find a causal relationship running from CBI to inflation.

Banks and banking, Central -- Caribbean Area. --- Banks and banking, Central -- Latin America. --- Electronic books. -- local. --- Inflation (Finance) -- Caribbean Area. --- Inflation (Finance) -- Latin America. --- Banks and Banking --- Inflation --- Macroeconomics --- Public Finance --- Price Level --- Deflation --- Central Banks and Their Policies --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Institutions and the Macroeconomy --- Taxation, Subsidies, and Revenue: General --- Banking --- Public finance & taxation --- Central bank autonomy --- Structural reforms --- Legal support in revenue administration --- Prices --- Banks and banking --- Revenue --- Ecuador --- Banks and banking, Central --- Inflation (Finance)