The IMF Monetary Model At Forty

The IMF Monetary Model At Forty
Author: J. J. Polak
Publisher: International Monetary Fund
Total Pages: 21
Release: 1997-04-01
Genre: Business & Economics
ISBN: 1451846800
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A model reflecting the monetary approach to the balance of payments was developed in the International Monetary Fund (IMF) in the 1950s. Its purpose was to integrate monetary, income, and balance of payments analysis, and it became the basis of the conditionality applied to IMF credits. Extremely simple, with primary focus on the balance of payments effects of credit creation by the banking system, the model has retained its usefulness for policy purposes over time, as it was adapted to changes in member countries’ priorities and in the international monetary system, in particular the disappearance of the par value system.

The IMF Monetary Model at Forty

The IMF Monetary Model at Forty
Author: Jacques Polak
Publisher:
Total Pages: 20
Release: 2006
Genre:
ISBN:
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A model reflecting the monetary approach to the balance of payments was developed in the International Monetary Fund (IMF) in the 1950s. Its purpose was to integrate monetary, income, and balance of payments analysis, and it became the basis of the conditionality applied to IMF credits. Extremely simple, with primary focus on the balance of payments effects of credit creation by the banking system, the model has retained its usefulness for policy purposes over time, as it was adapted to changes in member countries` priorities and in the international monetary system, in particular the disappearance of the par value system.

The Monetary Approach to the Balance of Payments

The Monetary Approach to the Balance of Payments
Author: Jacob Frenkel
Publisher: Routledge
Total Pages: 389
Release: 2013-07-18
Genre: Business & Economics
ISBN: 1135043493
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This book collects together the basic documents of an approach to the theory and policy of the balance of payments developed in the 1970s. The approach marked a return to the historical traditions of international monetary theory after some thirty years of departure from them – a departure occasioned by the international collapse of the 1930s, the Keynesian Revolution and a long period of war and post-war reconstruction in which the international monetary system was fragmented by exchange controls, currency inconvertibility and controls over international trade and capital movements.

Monetary Policy in Times of Crisis

Monetary Policy in Times of Crisis
Author: Massimo Rostagno
Publisher: Oxford University Press
Total Pages: 449
Release: 2021
Genre: Business & Economics
ISBN: 0192895915
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The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.

In the Wake of the Crisis

In the Wake of the Crisis
Author: Olivier Blanchard
Publisher: MIT Press
Total Pages: 251
Release: 2014-08-29
Genre: Business & Economics
ISBN: 0262526824
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Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner

The IMF Monetary Model

The IMF Monetary Model
Author: Mahendra Pal
Publisher:
Total Pages: 16
Release: 2018
Genre:
ISBN:
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The operations of the IMF have evoked a great deal of interest in the economic profession. While the policy package as advocated by the IMF, may be quite detailed and complex, the quantitative underpinnings are simple. This research analyses the IMF monetary model designed by J.J. Polak and tests its basic hypothesis of inverse relationship between changes in net domestic assets (NDA) and changes in net foreign assets (NFA) with Indian time series data for the period of 1971-2009 with the help of OLS technique. It also analyses its adjustment programme in the post-reform period with a case study of financial sector reforms. The programme is considered as a success story. The Polak Model is still very much alive today, because the model continues to incorporate the compelling changes taking place in the developed and emerging economies over the time.

Macroeconomics for Professionals

Macroeconomics for Professionals
Author: Leslie Lipschitz
Publisher: Cambridge University Press
Total Pages: 312
Release: 2019-01-23
Genre: Business & Economics
ISBN: 1108568467
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Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.

Monetary and Macroprudential Policy Rules in a Model with House Price Booms

Monetary and Macroprudential Policy Rules in a Model with House Price Booms
Author: Mr.Pau Rabanal
Publisher: International Monetary Fund
Total Pages: 38
Release: 2009-11-01
Genre: Business & Economics
ISBN: 1451873980
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We argue that a stronger emphasis on macrofinancial risk could provide stabilization benefits. Simulations results suggest that strong monetary reactions to accelerator mechanisms that push up credit growth and asset prices could help macroeconomic stability. In addition, using a macroprudential instrument designed specifically to dampen credit market cycles would also be useful. But invariant and rigid policy responses raise the risk of policy errors that could lower, not raise, macroeconomic stability. Hence, discretion would be required.

Balance of Payments Manual, Sixth Edition Compilation Guide

Balance of Payments Manual, Sixth Edition Compilation Guide
Author: Mr.Eduardo Valdivia-Velarde
Publisher: International Monetary Fund
Total Pages: 634
Release: 2014-12-08
Genre: Business & Economics
ISBN: 147551347X
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The Balance of Payments and International Investment Position Manual 6: Compilation Guide is a companion document to the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). The purpose of the Guide is to show how the conceptual framework described in the BPM6 may be implemented in practice and to provide practical advice on source data and methodologies for compiling statistics on the balance of payments and the international investment position. The Guide is not intended to be a stand-alone manual, and readers should be familiar with the BPM6.