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World Economic Outlook, April 2014 : Recovery Strengthens, Remains Uneven

Release Date: April, 2014

Price: $68.00

Global activity has broadly strengthened and is expected to improve further in 2014–15, according to the April 2014 WEO, with much of the impetus for growth coming from advanced economies. Although more...



Monetary Policy in the New Normal

Author/Editor: Tamim Bayoumi, Giovanni Dell'Ariccia, Karl F Habermeier, Tommaso Mancini Griffoli, Fabian Valencia.

Release Date: April, 2014

Price: $10.00

The proposed SDN would take stock of the current debate on the shape that monetary policy should take after the crisis. It revisits the pros and cons of expanding the objectives of monetary policy, more...



Global Liquidity through the Lens of Monetary Aggregates

Author/Editor: Kyuil Chung, Jong-Eun Lee, Elena Loukoianova, Hail Park, Hyun Song Shin.

Release Date: January, 2014

Price: $18.00

This paper examines how the financial activities of non-financial corporates (NFCs) in international markets potentially affects domestic monetary aggregates and financial conditions. Monetary more...



The Benefits of International Policy Coordination Revisited

Author/Editor: Jaromir Benes, Michael Kumhof, Douglas Laxton, Dirk Muir, Susanna Mursula.

Release Date: December, 2013

Price: $18.00

This paper uses two of the IMF’s DSGE models to simulate the benefits of international fiscal and macroprudential policy coordination. The key argument is that these two policies are similar in more...



Resilience in Latin America: Lessons from Macroeconomic Management and Financial Policies

Author/Editor: Jose De Gregorio.

Release Date: December, 2013

Price: $18.00

This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and more...



Policy Analysis and Forecasting in the World Economy: A Panel Dynamic Stochastic General Equilibrium Approach

Author/Editor: Francis Vitek.

Release Date: December, 2013

Price: $18.00

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate more...



The Special Data Dissemination Standard: Guide for Subscribers and Users

Release Date: December, 2013

Price: $30.00

The International Monetary Fund (IMF) launched the data standards initiatives to enhance member countries’ data transparency and to promote their development of sound statistical systems. The need more...



Monetary Transmission in Brazil: Has the Credit Channel Changed?

Author/Editor: Mercedes Garcia-Escribano.

Release Date: December, 2013

Price: $18.00

This paper investigates the transmission of monetary policy by private banks in Brazil during the recent easing cycle. The analysis presented uses a panel dataset with information on lending by more...



Labor Force Participation and Monetary Policy in the Wake of the Great Recession

Author/Editor: Christopher J Erceg, Andrew Levin.

Release Date: December, 2013

Price: $18.00

In this paper, we provide compelling evidence that cyclical factors account for the bulk of thepost-2007 decline in the U.S. labor force participation rate. We then proceed to formulate astylized New more...



Money Targeting in a Modern Forecasting and Policy Analysis System: an Application to Kenya

Author/Editor: Michal Andrle, Andrew Berg, Enrico Berkes, Rafael A Portillo, Jan Vlcek, R Armando Morales.

Release Date: November, 2013

Price: $18.00

We extend the framework in Andrle and others (2013) to incorporate an explicit role for money targets and target misses in the analysis of monetary policy in low-income countries (LICs), with an more...



Per Jacobsson Lecture: Chinas Monetary Policy Since the Turn of the Century

Release Date: November, 2013

Price: $0.00

Over the past dozen years or so, China has faced major challenges in the conduct of monetary policy. In responding to these challenges, China’s monetary policy has successfully maintained stability more...



Making Monetary Policy More Effective: The Case of the Democratic Republic of the Congo

Author/Editor: Felix Fischer, Charlotte J Lundgren, Samir Jahjah.

Release Date: November, 2013

Price: $18.00

The paper looks at the challenges of conducting monetary policy in a context of high dollarization of the banking system and weak institutions in the Democratic Republic of the Congo. The empirical more...



Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area

Author/Editor: Dominic Quint, Pau Rabanal.

Release Date: October, 2013

Price: $18.00

In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and more...



Fragmentation and Monetary Policy in the Euro Area

Author/Editor: Ali J Al-Eyd, Pelin Berkmen.

Release Date: October, 2013

Price: $18.00

The ECB has taken a range of actions to address bank funding problems, eliminate excessive risk in sovereign markets, and safeguard monetary transmission. But euro area financial markets have more...



International Monetary Fund Annual Report 2013 : Promoting a More Secure and Stable Global Economy

Release Date: October, 2013

Price: $0.00

The IMF's 2013 Annual Report chronicles the response of the institution's Executive Board and staff to the global financial crisis and other events during financial year 2013, which covers the period more...



The Monetary Transmission Mechanism in the Tropics: A Narrative Approach

Author/Editor: Andrew Berg, Luisa Charry, Rafael A Portillo, Jan Vlcek.

Release Date: September, 2013

Price: $18.00

Many central banks in low-income countries in Sub-Saharan Africa are modernising their monetary policy frameworks. Standard statistical procedures have had limited success in identifying the channels more...



IMF Research Bulletin, September 2013

Release Date: September, 2013

Price: $0.00

The Research Summaries in the September 2013 IMF Research Bulletin focus on “External Conditions and Debt Sustainability in Latin America” (Gustavo Adler and Sebastian Sosa) and “Monetary more...



Inflation Dynamics and Monetary Policy Transmission in Vietnam and Emerging Asia

Author/Editor: Rina Bhattacharya.

Release Date: July, 2013

Price: $18.00

This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and uses empirical analysis to answer two key questions: (i) what are the key drivers more...



Monetary Policy and Balance Sheets

Author/Editor: Deniz Igan, Alain N Kabundi, Francisco Nadal-De Simone, Natalia T Tamirisa.

Release Date: July, 2013

Price: $18.00

This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Augmented Vector Autoregression model on more...



The Growth and Stabilization Properties of Fiscal Policy in Malaysia

Author/Editor: Sohrab Rafiq.

Release Date: June, 2013

Price: $18.00

This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government spending shock leads to broad positive economic effects. Although, the more...



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