IMF funds: The real issue

Article Abstract:

Asian business and political leaders are concerned about the reluctance of the US Congress to approve further funds for the International Monetary Fund, seeing it as a withdrawal of America's commitment to the world economy and a disregard for Asia's financial crisis. The IMF had sought further funding in 1996, before the Asian crisis, and it already has sufficient funds to meet its Asian obligations.

International Monetary Fund, Finance, Asia

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Price flexibility in Japan, 1970-1992: a study of price formation

Article Abstract:

A high degree of asymmetry in price adjustments existed in Japan, specifically with its consumer price indexes (CPIs). Utilization of a simulation model revealed the presence of a high degree of downward rigidity at the country's CPI level. The existence of a macroscopic downward rigidity can be nearly eliminated whenever the magnitude of the shock is smaller compared to the target inflation rate.

Research, Analysis, Japan, Macroeconomics, Consumer price indexes

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