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  • 1
    Article
    Article
    Latin America and the Caribbean : Reform and recovery (2000)
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    Details
    UID:
    kobvindex_DGP1643876813
    ISSN: 0145-1707
    Note: Enthält u.a.: Loser, Claudio M ; Guerguil, Martine: The long road to financial stability. - S. 7-12.
    In: Finance and development, Washington, DC : Fund, 1964, 37(2000), 1, Seite 7-41, 0145-1707
    Language: English
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  • 2
    Online Resource
    Online Resource
    Improving the monetary policy frameworks in Central America (2011)
    Washington, DC : Internat. Monetary Fund
    Details
    UID:
    gbv_683983741
    Format: Online-Ressource (PDF-Datei: 38 S., 554 KB) , graph. Darst.
    Series Statement: IMF working paper 11/245
    Note: Systemvoraussetzungen: Acrobat Reader.
    Language: English
    Keywords: Arbeitspapier ; Graue Literatur
    URL: Volltext
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    Online Access
    Ibero-Amerik. Institut
  • 3
    Article
    Article
    Latin America and the Caribbean : Reform and recovery (2000)
    Show associated volumes
    Details
    UID:
    gbv_1643876813
    ISSN: 0145-1707
    Note: Enthält u.a.: Loser, Claudio M ; Guerguil, Martine: The long road to financial stability. - S. 7-12
    In: Finance and development, Washington, DC : Fund, 1964, 37(2000), 1, Seite 7-41, 0145-1707
    In: volume:37
    In: year:2000
    In: number:1
    In: pages:7-41
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
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    Article
    Informationszentrum DGAP get availability status
  • 4
    Online Resource
    Online Resource
    Central Bank Financial Strength in Central America and the Dominican Republic / (2014)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edoccha_9958060195802883
    Format: 1 online resource (40 p.)
    ISBN: 1-4843-8787-2 , 1-4843-8748-1 , 1-4843-8802-X
    Series Statement: IMF Working Papers
    Content: This paper examines the financial strength of central banks in Central America and the Dominican Republic (CADR). Some central banks are working off the effects of intervention in distressed financial institutions during the 1990’s and early 2000’s. Their net income has improved since then owing to lower interest rates, a reduction in interest bearing debt, and recapitalization transfers. Claims on the government have fallen, but remain high and are typically reimbursed at below-market rates, and capital is negative when adjusting for this. Capital is sufficient to back a low inflation target given that the income position is supported by unremunerated reserve requirements. Capital is likely to increase over time, but only gradually, leaving countries vulnerable to macroeconomic risks. The capacity of CADR central banks to engage in macroeconomic stabilization would benefit from increased emphasis on low inflation as the primary objective of monetary policy and a stronger commitment by governments to recapitalization.
    Note: Description based upon print version of record. , Cover; Contents; I. Introduction; II. The Role of Central Bank Financial Strength; III. Overview of CADR Central Banks; A. Historical Roles and Recent Changes; Tables; 1. Functions of CADR Central Banks; Figures; 1. CADR and LA-5: Indicators of Macroeconomic Instability; 2. CADR and LA-5: Growth and Volatility; 3. CADR: Overall Balance of Central Banks; 4. CADR and LA-5: Inflation; Box 1. Bank Rescues and Central Bank Losses; 2. CADR: Episodes of Intervention in Financial Institutions, 1990-2006; B. Recapitalization: Legal Statutes and Recent Initiatives , 5. CADR and LA-5: Central Bank AutonomyIV. Financial Positions; A. Income Position; 6. Income Position of CADR Central Banks; B. Balance Sheets; 7. Balance Sheet Items of CADR Central Banks; 8. CADR: Reserve Requirements of Depositary Institutions; C. Comparison with LA-5; 9. Balance Sheet Items of LA-5 Central Banks; D. Factors Influencing the Financial Position; V. Capital Adequacy; A. Economic Capital; 10. Rates of Return on Assets and Liabilities of CADR Central Banks; B. Capital Adequacy: Consistency with Low Inflation; 11. Book Capital and Economic Capital of CADR Central Banks , 3. Summarized Central Bank Balance Sheets, 2012C. Capital Adequacy: Baseline Projections and Risks; 4. Core Profits, Core Inflation, and Core Capital; 12. Central Bank Capital: Baseline Projections; 13. Central Bank Capital: Sensitivity to Shocks; VI. Conclusions; Appendixes and Appendix Tables; I. Detailed Balance Sheets of CADR Central Banks; II. Estimating Central Bank Capital Needs; Table A.1. Parameters for Calculating Central Bank Capital Needs; References , English
    Additional Edition: ISBN 1-4843-8736-8
    Language: English
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    Charité
  • 5
    Online Resource
    Online Resource
    Central Bank Financial Strength in Central America and the Dominican Republic / (2014)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edocfu_9958060195802883
    Format: 1 online resource (40 p.)
    ISBN: 1-4843-8787-2 , 1-4843-8748-1 , 1-4843-8802-X
    Series Statement: IMF Working Papers
    Content: This paper examines the financial strength of central banks in Central America and the Dominican Republic (CADR). Some central banks are working off the effects of intervention in distressed financial institutions during the 1990’s and early 2000’s. Their net income has improved since then owing to lower interest rates, a reduction in interest bearing debt, and recapitalization transfers. Claims on the government have fallen, but remain high and are typically reimbursed at below-market rates, and capital is negative when adjusting for this. Capital is sufficient to back a low inflation target given that the income position is supported by unremunerated reserve requirements. Capital is likely to increase over time, but only gradually, leaving countries vulnerable to macroeconomic risks. The capacity of CADR central banks to engage in macroeconomic stabilization would benefit from increased emphasis on low inflation as the primary objective of monetary policy and a stronger commitment by governments to recapitalization.
    Note: Description based upon print version of record. , Cover; Contents; I. Introduction; II. The Role of Central Bank Financial Strength; III. Overview of CADR Central Banks; A. Historical Roles and Recent Changes; Tables; 1. Functions of CADR Central Banks; Figures; 1. CADR and LA-5: Indicators of Macroeconomic Instability; 2. CADR and LA-5: Growth and Volatility; 3. CADR: Overall Balance of Central Banks; 4. CADR and LA-5: Inflation; Box 1. Bank Rescues and Central Bank Losses; 2. CADR: Episodes of Intervention in Financial Institutions, 1990-2006; B. Recapitalization: Legal Statutes and Recent Initiatives , 5. CADR and LA-5: Central Bank AutonomyIV. Financial Positions; A. Income Position; 6. Income Position of CADR Central Banks; B. Balance Sheets; 7. Balance Sheet Items of CADR Central Banks; 8. CADR: Reserve Requirements of Depositary Institutions; C. Comparison with LA-5; 9. Balance Sheet Items of LA-5 Central Banks; D. Factors Influencing the Financial Position; V. Capital Adequacy; A. Economic Capital; 10. Rates of Return on Assets and Liabilities of CADR Central Banks; B. Capital Adequacy: Consistency with Low Inflation; 11. Book Capital and Economic Capital of CADR Central Banks , 3. Summarized Central Bank Balance Sheets, 2012C. Capital Adequacy: Baseline Projections and Risks; 4. Core Profits, Core Inflation, and Core Capital; 12. Central Bank Capital: Baseline Projections; 13. Central Bank Capital: Sensitivity to Shocks; VI. Conclusions; Appendixes and Appendix Tables; I. Detailed Balance Sheets of CADR Central Banks; II. Estimating Central Bank Capital Needs; Table A.1. Parameters for Calculating Central Bank Capital Needs; References , English
    Additional Edition: ISBN 1-4843-8736-8
    Language: English
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    Online Resource
    FU Berlin
  • 6
    Online Resource
    Online Resource
    Improving the Monetary Policy Frameworks in Central America / (2011)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edocfu_9958116179202883
    Format: 1 online resource (45 p.)
    ISBN: 1-4639-9800-7 , 1-4639-3240-5
    Series Statement: IMF Working Papers
    Content: Several Central American (CADR) countries with independent monetary policies are strengthening their monetary frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy frameworks of CADR is key to improving the effectiveness of monetary policy. The paper reviews the literature on the reforms needed for strengthening the monetary policy frameworks, and examines the experiences of IT countries, Chile, Peru, and Uruguay to help distill lessons for CADR. It also constructs an index to measure the relative strength of the monetary policy framework of CADR countries.
    Note: Description based upon print version of record. , Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. Inflation in Central America (CADR) and Selected Latin American Countries; II. Key Elements of A Strong Monetary Policy Framework: Review of the literature; 2. Average Inflation in CADR and LA5; III. Monetary Frameworks in Selected South American Countries and CADR; A. Monetary Frameworks and Reforms in Chile, Peru, and Uruguay; 1. Central Bank Protts and Losses in Chile, Peru, and Uruguay; B. The Monetary Policy Frameworks in CADR; C. Index to Measure the Strength of Monetary Policy Frameworks in CADR , 3. Index of Strength of Monetary Policy Framework2. Index: Strength of Monetary Policy Framework; IV. Conclusions and Policy Recommendations; I. Key Elements of a Strong Monetary Policy Framework: The Case of Chile, Peru and Uruguay; II. The Monetary Policy Framework in CADR Countries; III. Strength of Monetary Policy Index; References; Footnotes
    Additional Edition: ISBN 1-4639-2324-4
    Language: English
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    Online Resource
    FU Berlin
  • 7
    Online Resource
    Online Resource
    Improving the Monetary Policy Frameworks in Central America / (2011)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edoccha_9958116179202883
    Format: 1 online resource (45 p.)
    ISBN: 1-4639-9800-7 , 1-4639-3240-5
    Series Statement: IMF Working Papers
    Content: Several Central American (CADR) countries with independent monetary policies are strengthening their monetary frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy frameworks of CADR is key to improving the effectiveness of monetary policy. The paper reviews the literature on the reforms needed for strengthening the monetary policy frameworks, and examines the experiences of IT countries, Chile, Peru, and Uruguay to help distill lessons for CADR. It also constructs an index to measure the relative strength of the monetary policy framework of CADR countries.
    Note: Description based upon print version of record. , Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. Inflation in Central America (CADR) and Selected Latin American Countries; II. Key Elements of A Strong Monetary Policy Framework: Review of the literature; 2. Average Inflation in CADR and LA5; III. Monetary Frameworks in Selected South American Countries and CADR; A. Monetary Frameworks and Reforms in Chile, Peru, and Uruguay; 1. Central Bank Protts and Losses in Chile, Peru, and Uruguay; B. The Monetary Policy Frameworks in CADR; C. Index to Measure the Strength of Monetary Policy Frameworks in CADR , 3. Index of Strength of Monetary Policy Framework2. Index: Strength of Monetary Policy Framework; IV. Conclusions and Policy Recommendations; I. Key Elements of a Strong Monetary Policy Framework: The Case of Chile, Peru and Uruguay; II. The Monetary Policy Framework in CADR Countries; III. Strength of Monetary Policy Index; References; Footnotes
    Additional Edition: ISBN 1-4639-2324-4
    Language: English
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    Charité
  • 8
    Online Resource
    Online Resource
    The Policy Interest-Rate Pass-Through in Central America / (2011)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edocfu_9958098690702883
    Format: 1 online resource (37 p.)
    ISBN: 1-4639-9472-9 , 1-4639-9078-2 , 1-283-56598-6 , 9786613878434 , 1-4639-7045-5
    Series Statement: IMF Working Papers
    Content: Several Central American (CADR) central banks with independent monetary policies have adopted policy interest rates as their main instrument to signal their monetary policy stances, often in the context of adopting or transitioning to inflation targeting regimes. This paper finds that the interest-rate transmission mechanism, or the pass-through of the policy rate to market rates, is generally weaker and slower in CADR than in the LA6, the countries selected as benchmarks. A variety of potential factors behind this finding are examined, including the degrees of financial dollarization, exchange rate flexibility, bank concentration, financial sector development, and fiscal dominance. Through panel data analysis, the study suggests that the transmission mechanism can be strengthened by increasing exchange rate flexibility, and, over time, by adopting measures towards reducing financial dollarization, developing the financial sector, and reducing bank concentration.
    Note: Description based upon print version of record. , Cover Page; Title Page; Copyright Page; Abstract; Contents; I. Introduction; II. Determinants of Interest-Rate Transmission: Literature Review; III. Interest-Rate Transmission in CADR; A. Correlations of the Policy Rate with Market Rates; 1. Monetary and Exchange Rate Frameworks in CADR and LA6; 2. Short and Long-Term Correlations Between Policy Rate and Bank Lending/Deposit Rates; 1. Pass-Through of the Policy Rate to Market Rates in Latin America; 2. CADR + LA6: Policy to Lending Pass-through Cumulative Response Over Time; B. Interest-Rate Transmission: Empirical Evidence , 3. Marginal Effects of Explanatory Variables on the Policy Rate Pass-Through3. Estimation Results; 4. Summary Means and Predicted Pass-Through: 2004-10; IV. Conclusion; 1. Data Information and Sources for Pass-through Estimates and Determinants in Latin America; 2. Pannel Regression Data Sources; 3. Policy-to-Lending Pass-Through Cumulative Response Over Time; 4. Pannel Regression Data Sources; References; Footnotes , English
    Additional Edition: ISBN 1-4639-2322-8
    Language: English
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    Online Resource
    FU Berlin
  • 9
    Online Resource
    Online Resource
    The Policy Interest-Rate Pass-Through in Central America / (2011)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edoccha_9958098690702883
    Format: 1 online resource (37 p.)
    ISBN: 1-4639-9472-9 , 1-4639-9078-2 , 1-283-56598-6 , 9786613878434 , 1-4639-7045-5
    Series Statement: IMF Working Papers
    Content: Several Central American (CADR) central banks with independent monetary policies have adopted policy interest rates as their main instrument to signal their monetary policy stances, often in the context of adopting or transitioning to inflation targeting regimes. This paper finds that the interest-rate transmission mechanism, or the pass-through of the policy rate to market rates, is generally weaker and slower in CADR than in the LA6, the countries selected as benchmarks. A variety of potential factors behind this finding are examined, including the degrees of financial dollarization, exchange rate flexibility, bank concentration, financial sector development, and fiscal dominance. Through panel data analysis, the study suggests that the transmission mechanism can be strengthened by increasing exchange rate flexibility, and, over time, by adopting measures towards reducing financial dollarization, developing the financial sector, and reducing bank concentration.
    Note: Description based upon print version of record. , Cover Page; Title Page; Copyright Page; Abstract; Contents; I. Introduction; II. Determinants of Interest-Rate Transmission: Literature Review; III. Interest-Rate Transmission in CADR; A. Correlations of the Policy Rate with Market Rates; 1. Monetary and Exchange Rate Frameworks in CADR and LA6; 2. Short and Long-Term Correlations Between Policy Rate and Bank Lending/Deposit Rates; 1. Pass-Through of the Policy Rate to Market Rates in Latin America; 2. CADR + LA6: Policy to Lending Pass-through Cumulative Response Over Time; B. Interest-Rate Transmission: Empirical Evidence , 3. Marginal Effects of Explanatory Variables on the Policy Rate Pass-Through3. Estimation Results; 4. Summary Means and Predicted Pass-Through: 2004-10; IV. Conclusion; 1. Data Information and Sources for Pass-through Estimates and Determinants in Latin America; 2. Pannel Regression Data Sources; 3. Policy-to-Lending Pass-Through Cumulative Response Over Time; 4. Pannel Regression Data Sources; References; Footnotes , English
    Additional Edition: ISBN 1-4639-2322-8
    Language: English
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    Online Resource
    Charité
  • 10
    Online Resource
    Online Resource
    The Policy Interest-Rate Pass-Through in Central America (2011)
    Washington, D.C : International Monetary Fund
    Details
    UID:
    gbv_845959964
    Format: Online-Ressource (21 p)
    Edition: Online-Ausg.
    ISBN: 1463923228 , 9781463923228
    Series Statement: IMF Working Papers Working Paper No. 11/240
    Content: Several Central American (CADR) central banks with independent monetary policies have adopted policy interest rates as their main instrument to signal their monetary policy stances, often in the context of adopting or transitioning to inflation targeting regimes. This paper finds that the interest-rate transmission mechanism, or the pass-through of the policy rate to market rates, is generally weaker and slower in CADR than in the LA6, the countries selected as benchmarks. A variety of potential factors behind this finding are examined, including the degrees of financial dollarization, exchange rate flexibility, bank concentration, financial sector development, and fiscal dominance. Through panel data analysis, the study suggests that the transmission mechanism can be strengthened by increasing exchange rate flexibility, and, over time, by adopting measures towards reducing financial dollarization, developing the financial sector, and reducing bank concentration
    Additional Edition: Erscheint auch als Druck-Ausgabe Medina Cas, Stephanie The Policy Interest-Rate Pass-Through in Central America Washington, D.C. : International Monetary Fund, 2011 ISBN 9781463923228
    Language: English
    DOI: 10.5089/9781463923228.001
    URL: kostenfrei
    URL: kostenfrei
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    Online Resource
    Open Access Request
    Stabi Berlin
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