04375oam 22011774 450 991095611540332120250426110913.09786613828934978146233466714623346609781452799582145279958X9781283516488128351648997814519890521451989059(CKB)3360000000443820(EBL)3014372(SSID)ssj0000940817(PQKBManifestationID)11967052(PQKBTitleCode)TC0000940817(PQKBWorkID)10955894(PQKB)11365015(OCoLC)712989256(IMF)WPIEE2006184(MiAaPQ)EBC3014372(IMF)WPIEA2006184WPIEA2006184(EXLCZ)99336000000044382020020129d2006 uf 0engur|n|---|||||txtccrFiscal and Monetary Nexus in Emerging Market Economies : How Does Debt Matter? /Garima Vasishtha, Taimur Baig, Manmohan Kumar, Edda Zoli1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (43 p.)IMF Working Papers"August 2006".9781451864441 1451864442 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. FISCAL-MONETARY NEXUS: ANALYTICAL AND EMPIRICAL STUDIES""; ""III. CROSS-COUNTRY ANALYSIS""; ""IV. NEWS ANALYSIS""; ""V. CONCLUDING REMARKS""; ""APPENDIXES""This paper examines two main aspects of the interaction between fiscal and monetary policy in emerging market economies. First, it explores the interest rate-inflation relationship in economies with different levels of external and domestic public debt using panel- and crosssection data. The results show that interest rate-inflation elasticity weakens with debt/GDP and external debt/GDP. Second, it utilizes high-frequency data from Brazil, Turkey, and Poland to examine how market-determined variables react to economic news. The results suggest that when vulnerabilities are high, budget news has the most significant impact on country spreads and interest rates, and the impact of monetary policy is weakened.IMF Working Papers; Working Paper ;No. 2006/184Debts, PublicFiscal policyBanks and BankingimfCurrencyimfDebt ManagementimfDebtimfDebts, PublicimfExchange ratesimfFinanceimfFiscal PolicyimfFiscal policyimfFiscal stanceimfForeign ExchangeimfForeign exchangeimfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfLong term interest ratesimfMacroeconomicsimfPublic debtimfPublic finance & taxationimfPublic FinanceimfSovereign DebtimfUnited StatesimfDebts, Public.Fiscal policy.Banks and BankingCurrencyDebt ManagementDebtDebts, PublicExchange ratesFinanceFiscal PolicyFiscal policyFiscal stanceForeign ExchangeForeign exchangeInterest ratesInterest Rates: Determination, Term Structure, and EffectsLong term interest ratesMacroeconomicsPublic debtPublic finance & taxationPublic FinanceSovereign DebtVasishtha Garima1816128Baig Taimur1816129Kumar Manmohan1803826Zoli Edda1111469DcWaIMFBOOK9910956115403321Fiscal and Monetary Nexus in Emerging Market Economies4371804UNINA