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Testing the Credibility of the Belgian Hard Currency Policy
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ISBN: 1462339891 1455217212 1281602051 1455241318 9786613782748 Year: 1991 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

Interest rate differentials have been widely used to assess the degree of policy credibility. A problem with this measure, however, is that the relationship between the differential and credibility varies not only across maturities but also with the actual level of the exchange rate. The alternative approach used in this paper, based on the construction of rate-of-return bands, overcomes this difficulty. It is applied to Belgium, which in May 1990 hardened its exchange rate policy stance. Comparisons with other small, open European economies are carried out. Econometric evidence is provided supporting the claim that the announcement and active implementation of a tighter exchange rate link does make a difference.


Book
Measuring the Transition : A User's Viewon National Accounts in Russia
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ISBN: 1462398537 1455296856 1281089435 9786613774798 145528968X Year: 1994 Publisher: Washington, D.C. : International Monetary Fund,

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As Russia’s transition unfolds, the traditional national accounts concepts and reporting mechanisms become increasingly inadequate. As a result, the margin of error associated with basic price and quantity estimates widens substantially. A selection of key measurement and interpretation issues is discussed here, in operational rather than in methodological terms.


Book
Price Measurement and Mismeasurement in Central Asia
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ISBN: 146234593X 1455212172 1281994227 9786613794840 1455273600 Year: 1995 Publisher: Washington, D.C. : International Monetary Fund,

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The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional Paasche retail price indices obsolete and called for the introduction of Laspeyres consumer price indices. While the latter represent a major improvement, several measurement or interpretation issues remain, reflecting various potential index number biases, dispersion of prices and inflation across geographical areas and social groups, discontinuities in the inflation process, residual shortages, and seasonality.


Article
Public Expenditure Reform : The Health Care Sector in the United Kingdom
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Year: 2000 Publisher: Paris : OECD Publishing,

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Health services are largely tax-financed in the United Kingdom and account for 14 per cent of general government spending. This paper analyses how the National Health Service (NHS) has been dealing with the associated expenditure pressures in the pre-1990 set-up and during the “quasi-market” years and how it is to cope with them under the “co-operative” arrangements put in place since 1997. While the budget constraint was traditionally tight in the NHS, leading to pervasive rationing and queuing as well as diversion towards the private sector, it has been relaxed somewhat with the budgetary boost announced by the Government in March 2000. The challenge is now to make the best use of the new-found financial room for improvement ...

Keywords

Economics --- United Kingdom


Article
Public Expenditure Reform : The Health Care Sector in the United Kingdom
Author:
Year: 2000 Publisher: Paris : OECD Publishing,

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Abstract

Health services are largely tax-financed in the United Kingdom and account for 14 per cent of general government spending. This paper analyses how the National Health Service (NHS) has been dealing with the associated expenditure pressures in the pre-1990 set-up and during the “quasi-market” years and how it is to cope with them under the “co-operative” arrangements put in place since 1997. While the budget constraint was traditionally tight in the NHS, leading to pervasive rationing and queuing as well as diversion towards the private sector, it has been relaxed somewhat with the budgetary boost announced by the Government in March 2000. The challenge is now to make the best use of the new-found financial room for improvement ...

Keywords

Economics --- United Kingdom


Book
Marchés de capitaux et techniques financières
Authors: ---
ISBN: 2717815198 9782717815191 Year: 1988 Publisher: Paris Economica

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Book
Marches de capitaux et techniques financieres.
Authors: ---
ISBN: 2717821171 9782717821178 Year: 1991 Publisher: Paris Economica

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Les marchés de capitaux occupent aujourd'hui une place primordiale au sein du système financier français. C'est à eux que les agents économiques recourent en priorité pour lever des fonds, gérer des portefeuilles, couvrir ou prendre des risques.Cet ouvrage décrit leur cadre institutionnel, complètement renouvelé depuis une vingtaine d'années et parachevé par la loi de modernisation des activités financières ; il analyse en détail chacun des marchés de capitaux (acteurs, opérations, taux) et y examine les conséquences du basculement a l'euro ; il présente les techniques récentes de gestion de portefeuille et de couverture des risques de taux (FRA, swaps, options, contrats à terme, ... ).Dans le même temps, cet ouvrage développe les concepts économiques indispensables pour juger du rôle et de l'efficacité des marchés de capitaux et pour appréhender la logique des opérations qui s'y mènent. Il intègre plus d'une centaine de questions à choix multiples, permettant de s'exercer au maniement de ces concepts.Il s'adresse aux étudiants des deuxièmes et troisièmes cycles d'économie et de gestion et à tous les professionnels de la banque, des marchés et de la finance.

Price Liberalization in Russia : Behavior of Prices, Household Incomes, and Consumption During the First Year
Authors: ---
ISBN: 1557752958 1462377440 1452775206 9781557752956 Year: 1993 Volume: 104 Publisher: Washington, D.C. : International Monetary Fund,

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Prices in the Russian Federation have been decontrolled in several steps since early 1991, after decades of near fixity. This paper documents and analyzes the behavior of prices, income, consumption, and savings before and after the January 1992 price liberalization, with emphasis on developments during 1992, and with focus on households more than on enterprises. Comparisons are made with recent experience in Central and Eastern Europe, along with consideration of evidence on shortages and income distribution.

Keywords

Prices --- Russian Federation --- Income distribution --- Government policy --- 338.53 <47> --- 338.5 <47> --- 330.56 <47> --- 330.567 <47> --- -338 --- (47+57) --- $?$93/11 --- politique des prix --- revenus --- agents economiques --- russie --- -Income distribution --- 330.05 --- 339.4947 --- Distribution of income --- Income inequality --- Inequality of income --- Distribution (Economic theory) --- Disposable income --- Commercial products --- Commodity prices --- Justum pretium --- Price theory --- Consumption (Economics) --- Cost --- Costs, Industrial --- Money --- Cost and standard of living --- Supply and demand --- Value --- Wages --- Willingness to pay --- Overheidsinvloed op prijsvorming. Prijzenpolitiek van de overheid--Rusland. Sovjet-Unie --- Prijsvorming. Prijskostenverhouding. Prijsbeweging. Prijsfluctuatie--macroeconomisch; prijsindex zie {336.748.12}--Rusland. Sovjet-Unie --- Nationaal inkomen. Volksinkomen. Gezinsinkomen. Vermogensstratificatie. Particuliere inkomens en bestedingen. Armoede. Honger--Rusland. Sovjet-Unie --- Bestedingen. Consumptie. Verbruik. Overconsumptie. Onderconsumptie. Koopkracht. Bestedingsmotieven. Huishoudelijke uitgaven. Gebruik van diensten--Rusland. Sovjet-Unie --- -prijsbeleid --- inkomens --- economische agenten --- rusland --- -Prices --- -338.53 <47> --- 330.567 <47> Bestedingen. Consumptie. Verbruik. Overconsumptie. Onderconsumptie. Koopkracht. Bestedingsmotieven. Huishoudelijke uitgaven. Gebruik van diensten--Rusland. Sovjet-Unie --- 330.56 <47> Nationaal inkomen. Volksinkomen. Gezinsinkomen. Vermogensstratificatie. Particuliere inkomens en bestedingen. Armoede. Honger--Rusland. Sovjet-Unie --- 338.5 <47> Prijsvorming. Prijskostenverhouding. Prijsbeweging. Prijsfluctuatie--macroeconomisch; prijsindex zie {336.748.12}--Rusland. Sovjet-Unie --- 338.53 <47> Overheidsinvloed op prijsvorming. Prijzenpolitiek van de overheid--Rusland. Sovjet-Unie --- Russia --- 338 --- prijsbeleid --- Prices - Government policy - Russia (Federation) --- Income distribution - Russia (Federation) --- Inflation --- Labor --- Macroeconomics --- Public Finance --- Investments: Stocks --- Price Level --- Deflation --- Wages, Compensation, and Labor Costs: General --- Aggregate Factor Income Distribution --- Wages, Compensation, and Labor Costs: Public Policy --- Urban, Rural, and Regional Economics: Household Analysis: General --- Labour --- income economics --- Public finance & taxation --- Investment & securities --- Income --- Real wages --- Producer prices --- National accounts --- Minimum wage


Book
How Large Was the the Output Collapse in Russia? Alternative Estimates and Welfare Implications
Authors: ---
ISBN: 1462330703 Year: 1994 Publisher: [Place of publication not identified] International Monetary Fund

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Book
Exchange Rate Determinants in Russia : 1992-1993
Authors: ---
ISBN: 146232780X 1455214175 128138707X 9786613779885 1455291757 Year: 1994 Publisher: Washington, D.C. : International Monetary Fund,

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This paper examines the evolution of the exchange rate of the ruble vis-à-vis the U.S. dollar from exchange rate unification, in July 1992, to the end of 1993. The expected and actual paths of the exchange rate are related to the exchange and trade regime and to the stance of financial and exchange rate policies. An econometric analysis based on weekly data is offered, which suggests that monetary factors have a significant impact on the short run behavior of the exchange rate.

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