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This paper investigates the determinants of inflation in the Dominican Republic during 1991-2002, a period characterized by remarkable macroeconomic stability and growth. By developing a parsimonious and empirically stable error-correction model using quarterly observations, the paper finds that inflation is explained by changes in monetary aggregates, real output, foreign inflation, and the exchange rate.

Inflation (Finance) --- Finance --- Natural rate of unemployment --- Dominican Republic --- Economic conditions --- Finance: General --- Foreign Exchange --- Inflation --- Money and Monetary Policy --- Open Economy Macroeconomics --- Price Level --- Deflation --- Demand for Money --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- International Financial Markets --- Macroeconomics --- Monetary economics --- Currency --- Foreign exchange --- Exchange rates --- Demand for money --- Monetary base --- Currency markets --- Prices --- Money --- Financial markets --- Money supply --- Foreign exchange market

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This paper is the first attempt to look at inflation dynamics and monetary transmission mechanisms in Armenia in the context of a full information model containing three interrelated markets: foreign exchange, money, and labor. Using the vector error correction model (VECM) approach, we find that the exchange rate pass-through to prices is very strong relative to credit, wage, and interest rate channels. The analysis suggests a relatively fast adjustment of prices to long-run disequilibria in the exchange rate market, albeit with initial overshooting of the price level. In addition, we find no evidence of prices responding to changes in money and wages in a statistically significant manner.

Foreign exchange rates --- Inflation (Finance) --- Monetary policy --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Finance --- Natural rate of unemployment --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Econometric models. --- Rates --- Finance: General --- Foreign Exchange --- Labor --- Money and Monetary Policy --- International Financial Markets --- Wages, Compensation, and Labor Costs: General --- Demand for Money --- Currency --- Labour --- income economics --- Monetary economics --- Currency markets --- Wages --- Demand for money --- Real exchange rates --- Financial markets --- Money --- Foreign exchange market --- Armenia, Republic of

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The literature on the economic effects of electronic money and banking lacks organization and a common analytical framework. This paper identifies the main issues raised by e-money and e-banking and presents them as six puzzles. Our solutions to the puzzles build a framework for analyzing the effects of e-money and e-banking, and for choosing the appropriate approach to regulating electronic money and banking.

Internet banking --- Electronic funds transfers --- Electronic banking --- Banks and banking --- Electronic commerce --- EFT (Electronic funds transfers) --- Electronic check clearing --- Electronic money systems --- Electronic payments systems --- Electronic transfer of funds --- Funds, Electronic transfers of --- Telebanking --- Transfers of funds, Electronic --- Electronic data interchange --- Electronic benefits transfers --- Home banking services --- Economic aspects. --- Banks and Banking --- Money and Monetary Policy --- Industries: Financial Services --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Monetary Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Demand for Money --- Distributed ledgers --- Banking --- Monetary economics --- Digital currencies --- Currencies --- Monetary base --- Bank credit --- Technology --- Money --- Demand for money --- Financial services industry --- Technological innovations --- Money supply --- Credit --- United States

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This Selected Issues paper for Rwanda reports the growth strategy described in the Poverty Reduction Strategy Paper (PRSP). The PRSP constitutes a critical effort aimed at generating poverty-reducing economic growth. Sustained growth in the primary sector serves as an engine of growth in the rural nontradable sector. The consequent rural employment generation provides income to the poorest among the rural poor. In generating an annual rural nonfarm growth rate of 6.7 percent, the PRSP assumes an elasticity of rural nonfarm activities with respect to farm growth.

Agriculture and state --- Poverty --- Coffee industry --- Demand for money --- Banks and banking --- Liquidity preference --- Money --- Money supply --- Coffee trade --- Beverage industry --- Destitution --- Wealth --- Basic needs --- Begging --- Poor --- Subsistence economy --- Agrarian question --- Agricultural policy --- Agriculture --- State and agriculture --- Economic policy --- Land reform --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Government policy --- Rwanda --- Jamhuri ya Rwanda --- Luwangda --- Republic of Rwanda --- Republika Nyarwanda --- Republika y'u Rwanda --- République du Rwanda --- République rwandaise --- Repubulika y'u Rwanda --- Repubulika y'Urwanda --- Résidence du Ruanda --- Respublika Ruanda --- Ruanda --- Ruʼandah --- Ruwanda --- Rwandese Republic --- Rwandu --- Руанда --- Республика Руанда --- רואנדה --- ルワンダ --- 卢旺达 --- Ruanda-Urundi --- Economic policy. --- Banks and Banking --- Investments: Commodities --- Exports and Imports --- Money and Monetary Policy --- Agribusiness --- Macroeconomics --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Trade: General --- Agriculture: General --- Agricultural Markets and Marketing --- Cooperatives --- Demand for Money --- Monetary economics --- International economics --- Agriculture, agribusiness & food production industries --- Investment & securities --- Agroindustries --- Agricultural commodities --- Exports --- Commodities --- Economic sectors --- International trade --- Export performance --- Agricultural industries --- Farm produce --- Loans