Development of the Polak Model

• Autorzy: Wioletta Nowak
• Języki publikacji: EN

Abstrakty

EN

The paper presents an analysis of different modifications of the Polak model that serves as the basis of the IMF's stabilization programs. According to the standard model, control over net domestic credit expansion is the key to stabilizing the balance of payments. In order to achieve the targeted values for the balance of payments and the rate of inflation in the extended Polak model, the authorities have two policy instruments at their disposal, i.e. domestic credit creation and the nominal exchange rate. (original abstract)

Słowa kluczowe

EN

Balance of payments; Inflation rates; Exchange rates; Monetary policy instruments

PL

Bilans płatniczy; Stopa inflacji; Kurs walutowy; Instrumenty polityki pieniężnej

• Czasopismo: Wroclaw Review of Law, Administration & Economics
• Rocznik: 2012
• Tom: 2
• Numer: nr 1
• Strony: 28--35

Twórcy

autor

Wioletta Nowak

• University of Wrocław, Poland

Bibliografia

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• Polak J. J., Monetary Analysis of Income Formation and Payments Problems (1957) 6(1).
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• Polak J. J., The IMF Monetary Model. A Hardly Perennial (1997) 12 "Finance and Development" 17.
• Yotzov V., Macroeconomic Models of the International Monetary Fund and the World Bank (Analysis of Theoretical Approaches and Evaluation of Their Effective Implementationin Bulgaria) (2001) 14/2000 Bulgarian National Bank Discussion Papers 9.