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International Monetary Fund Research Department

Overview
Works: 1,724 works in 3,429 publications in 2 languages and 51,470 library holdings
Genres: Periodicals 
Roles: Editor, Other
Classifications: HG3851, 332.45
Publication Timeline
Key
Publications about International Monetary Fund
Publications by International Monetary Fund
Most widely held works by International Monetary Fund
Exchange rate volatility and world trade : a study by International Monetary Fund( Book )
8 editions published in 1984 in English and Spanish and held by 394 libraries worldwide
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982
Determinants and systemic consequences of international capital flows : a study by Timothy D Lane( Book )
4 editions published in 1991 in English and Undetermined and held by 387 libraries worldwide
This study addresses the determinants and systemic consequences of international capital flows
The Exchange rate system : lessons of the past and options for the future : a study by International Monetary Fund( Book )
10 editions published between 1984 and 1988 in English and held by 382 libraries worldwide
The last few years have witnessed a resurgence of calls for a re-examination, or perhaps even a forum, of the international monetary system. This paper contributes to the ongoing debate on that subject
International capital markets : developments and prospects by International Monetary Fund( Book )
5 editions published between 1989 and 1991 in English and held by 353 libraries worldwide
International capital markets : recent developments and short-term prospects ( serial )
in English and held by 350 libraries worldwide
The Role of the SDR in the international monetary system : studies by Juanita Roushdy( Book )
6 editions published in 1987 in English and held by 348 libraries worldwide
In the years since the SDR was created, the international monetary system has experienced a number of profound changes. The present paper sketches the effects of these changes on perceptions of the role that the SDR can and should play in that system
Staff studies for the world economic outlook by International Monetary Fund( Book )
14 editions published between 1986 and 1995 in English and held by 341 libraries worldwide
"Boom and bust" in asset markets in the 1980's: causes and consequences; How accurate are the world economic outlook projections? An extended scenario and forecast adjustment model for developing countries; Unemployment and wage dynamics in multimod; An international comparison of tax systems in industrial countries; Purchasing power parity based weights for the world economic outlook
Theoretical aspects of the design of fund-supported adjustment programs : a study by International Monetary Fund( Book )
6 editions published in 1987 in English and Undetermined and held by 331 libraries worldwide
The purpose of this paper is to describe the analytical framework underlying the design of Fund-supported adjustment programs. While it draws heavily on previous studies, it also attempts to identify theoretical developments that have taken place in financial programming in more recent years
Staff studies for the world economic outlook by International Monetary Fund( serial )
in English and held by 330 libraries worldwide
Issues in the assessment of the exchange rates of industrial countries : a study by International Monetary Fund( Book )
6 editions published in 1984 in English and Undetermined and held by 330 libraries worldwide
In this paper, the concept of sustainability is given its traditional broad meaning; that is, an exchange rate is viewed as sustainable if it can be maintained over the medium term and its "appropriate" from the standpoint of the country in question and the international community as a whole
Interest rate policies in developing countries : a study by International Monetary Fund( Book )
9 editions published between 1983 and 1986 in English and Undetermined and held by 255 libraries worldwide
In recent years, the appropriate level and structure of interest tates have come to be seen as major issues in connection with stabilization programs undertaken by members. These issues arise from consideration both on the demand side, as interest rates affect the magnitude of aggregate demand, and on the supply side, as they influence the volume and quality of investment and, thus, the growth of output
A fistful of dollars lobbying and the financial crisis by Deniz Igan( Computer File )
4 editions published in 2009 in English and held by 194 libraries worldwide
Using detailed information on lobbying and mortgage lending activities, we find that lenders lobbying more on issues related to mortgage lending (i) had higher loan-to-income ratios, (ii) securitized more intensively, and (iii) had faster growing portfolios. Ex-post, delinquency rates are higher in areas where lobbyist' lending grew faster and they experienced negative abnormal stock returns during key crisis events. The findings are robust to (i) falsification tests using lobbying on issues unrelated to mortgage lending, (ii) a difference-in-difference approach based on state-level laws, and (iii) instrumental variables strategies. These results show that lobbying lenders engage in riskier lending
Aid volatility and Dutch disease is there a role for macroeconomic policies? by Alessandro Prati( file )
5 editions published in 2006 in English and held by 193 libraries worldwide
This paper studies how macroeconomic policies can help offset two unintended and undesirable features of foreign aid: its volatility and Dutch disease. We present evidence that aid volatility augments trade balance volatility and that foreign aid, with the important exception of years of adverse shocks, depresses exports. We also find that these effects can be mitigated through changes in net domestic assets of the central bank-a variable that reflects both monetary and fiscal policy. To characterize the optimal policy, we develop a general equilibrium model in which the capital account is closed and aid influences productivity growth through positive (public expenditure) and negative (Dutch disease) externalities. In this setting, macroeconomic policies permanently affect real variables and can improve welfare if donors do not distribute foreign aid optimally over time
An evaluation of the world economic outlook forecasts by Allan Timmermann( file )
6 editions published in 2006 in English and held by 193 libraries worldwide
The World Economic Outlook (WEO) is a key source of forecasts of global economic conditions. It is therefore important to review the performance of these forecasts against both actual outcomes and alternative forecasts. This paper conducts a series of statistical tests to evaluate the quality of the WEO forecasts for a very large cross section of countries, with particular emphasis on the recent recession and recovery. It assesses whether forecasts were unbiased and informationally efficient, and characterizes the process whereby WEO forecasts get revised as the time to the point of the forecast draws closer. Finally, the paper assess whether forecasts can be improved by combining WEO forecasts with the Consensus forecasts. The results suggest that the performance of the WEO forecasts is similar to that of the Consensus forecasts. While WEO forecasts for many variables in many countries meet basic quality standards in some, if not all, dimensions, the paper raises a number of concerns with current forecasting performance
Malaysian capital controls macroeconomics and institutions by Simon Johnson( file )
7 editions published in 2006 in English and held by 193 libraries worldwide
We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political connections, and some connected firms reportedly received advantages immediately following the crisis. Analysis of financial accounts indicates that connected firms outperformed unconnected firms before the 1997-98 crisis but not afterward. After the crisis, connected firms were either not supported as much as the market had expected or the benefits they received were not manifest in their published accounts
Toward a lender of first resort by Daniel Cohen( file )
6 editions published in 2006 in English and held by 192 libraries worldwide
If interest rates (country spreads) rise, debt can rapidly be subject to a snowball effect, which becomes self-fulfilling with regard to the fundamentals themselves. This is a market imperfection, because we cannot be confident that the unaided market will choose the "good" over the "bad" equilibrium. We propose a policy intervention to deal with this structural weakness in the mechanisms of international capital flows. This is based on a simple taxonomy that breaks down the origin of crises into three components: confidence (spreads and currency crisis), fundamentals (real growth rate), and economic policy (primary deficit). Theory then suggests a set of circumstances in which a lender of first resort would be desirable. The policy would seek to short-circuit confidence crises, partly by using IMF support to improve ex ante incentives. Theory also illuminates the potential role of collective action clauses in reducing the risk of self-fulfilling debt crises
Foreign banks in poor countries theory and evidence by Enrica Detragiache( file )
6 editions published in 2006 in English and held by 192 libraries worldwide
We study how foreign bank penetration affects financial sector development in poor countries. A theoretical model shows that when foreign banks are better at monitoring highend customers than domestic banks, their entry benefits those customers but may hurt other customers and worsen welfare. The model also predicts that credit to the private sector should be lower in countries with more foreign bank penetration. In the empirical section, we show that, in poor countries, a stronger foreign bank presence is robustly associated with less credit to the private sector both in cross-sectional and panel tests. In addition, in countries with more foreign bank penetration, credit growth is slower and there is less access to credit. We find no adverse effects of foreign bank presence in more advanced countries
Money market integration by Leonardo Bartolini( file )
6 editions published in 2006 in English and held by 192 libraries worldwide
We use transaction-level data and detailed modeling of the high-frequency behavior of federal funds-Eurodollar yield spreads to provide evidence of strong integration between the federal funds and Eurodollar markets, the two core components of the dollar money market. Our results contrast with previous research indicating that these two markets are segmented, showing them to be well integrated even at high (intraday) frequency. We document several patterns in the behavior of federal funds-Eurodollar spreads, including liquidity effects from trading volume on yield spreads' volatility. Our analysis supports the view that targeting federal funds rates alone is sufficient to stabilize rates in the (much larger) dollar money market as a whole. -- federal funds ; Eurodollar ; market segmentation
Does economic diversification lead to financial development? evidence from topography by Rodney Ramcharan( file )
6 editions published in 2006 in English and held by 192 libraries worldwide
An influential theoretical literature has observed that economic diversification can reduce risk and increase financial development. But causality operates in both directions, as a well functioning financial system can enable a society to invest in more productive but risky projects, thereby determining the degree of economic diversification. Thus, ordinary least squares (OLS) estimates of the impact of economic diversification on financial development are likely to be biased. Motivated by the economic geography literature, this paper uses instruments derived from topographical characteristics to estimate the impact of economic diversification on the development of finance. The fourth estimates suggest a large and robust role for diversification in shaping financial development. And these results imply that, by impeding financial sector development, the concentration of economic activity common in developing countries can adversely affect financial and economic development
The external wealth of nations mark II revised and extended estimates of foreign assets and liabilities, 1970-2004 by Philip R Lane( file )
6 editions published in 2006 in English and held by 191 libraries worldwide
We construct estimates of external assets and liabilities for 145 countries for the period 1970-2004. We describe our estimation methods and present key features of the data at the country and the global level. We focus on trends in net and gross external positions, and the composition of international portfolios, distinguishing between foreign direct investment, portfolio equity investment, official reserves, and external debt. We document the increasing importance of equity financing and the improvement in the external position for emerging markets, and the differing pace of financial integration between advanced and developing economies. We also show the existence of a global discrepancy between estimated foreign assets and liabilities, and identify the asset categories that account for this discrepancy
 
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Alternative Names

controlled identity International Monetary Fund

IMF. Research Department.
International Monetary Fund. Research Department.
International Monetary Fund. Research Dept.
Languages
English (134)
Spanish (1)
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