| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4654 |
| DP4654 Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the US Business Cycle | |
| Martín Uribe; Stephanie Schmitt-Grohé | |
| 发表日期 | 2004-10-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | The World Bank and the International Monetary Fund play a key role in the international economic architecture. Yet, they are also ?political? institutions and their activities inevitably respond to the national interest of one or a group of shareholders. Assessing the role of ?influential? shareholders is, however, made difficult by the fact that votes in the Boards of either institution are rarely recorded and at any rate are not made public. We take a different route and look at the pattern of lending of both institutions as a function of their institutional mission and the commercial and financial interests of their main shareholders. We find that the Bank and especially the Fund are quick to respond to the borrowing needs of their members, particularly during a balance of payments crisis. Apart from that, however, the lending pattern of the two institutions is influenced by the commercial and the financial interests of the US and, to a lesser extent, of the EU. European countries in particular seem to be much more concerned by their commercial interests. The role of Japan is even smaller and more regional, being largely confined to decisions concerning Asia. |
| 主题 | International Trade and Regional Economics |
| 关键词 | World bank International monetary fund Influential shareholders |
| URL | https://cepr.org/publications/dp4654 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533575 |
| 推荐引用方式 GB/T 7714 | Martín Uribe,Stephanie Schmitt-Grohé. DP4654 Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the US Business Cycle. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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