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.

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.

Selected Decisions and Selected Documents of the International Monetary Fund, Forty First Issue Supplement

Selected Decisions and Selected Documents of the International Monetary Fund, Forty First Issue Supplement
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
Total Pages: 907
Release: 2021-02-08
Genre: Business & Economics
ISBN: 1513557521
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This volume is the Forty-First Issue of Selected Decisions and Selected Documents of the IMF. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the IMF, as well as selected documents, to which frequent reference is made in the current activities of the IMF. In addition, it includes certain documents relating to the IMF, the United Nations, and other international organizations. As with other recent issues, the number of decisions in force continues to increase, with the decision format tending to be longer given the use of summings up in lieu of formal decisions. Accordingly, it has become necessary to delete certain decisions that were included in earlier issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions. Wherever reference is made in these decisions and documents to a provision of the IMF’s Articles of Agreement or Rules and Regulations that has subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.

International Monetary Fund Annual Report 2021

International Monetary Fund Annual Report 2021
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
Total Pages: 74
Release: 2021-10-04
Genre: Business & Economics
ISBN: 1513568817
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A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

IMF Staff papers

IMF Staff papers
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Total Pages: 256
Release: 1993-01-01
Genre: Business & Economics
ISBN: 1451947135
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The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast, higher public debt indexation has an ambiguous effect on wage indexation. In equilibrium, wage and public debt indexation may be positively or negatively related. This relationship is analyzed in situations where the policymakers can precommit to policies and in those they cannot.

Monetary and Exchange System Reforms in China

Monetary and Exchange System Reforms in China
Author: Mr.Bernard Laurens
Publisher: International Monetary Fund
Total Pages: 108
Release: 1996-09-26
Genre: Business & Economics
ISBN: 9781557755629
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In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.

IMF Staff papers

IMF Staff papers
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Total Pages: 196
Release: 1993-01-01
Genre: Business & Economics
ISBN: 1451930852
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This paper uses microeconomic panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, it finds that, at the aggregate level, skilled and unskilled workers are subject to the same degree of cyclical variation in wages. However, the quality of labor input is found to rise in recessions, inducing a countercyclical bias in aggregate measures of the real wage. The paper also finds substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, indicating important interindustry differences in labor contracting.

Brentton Woods At Forty

Brentton Woods At Forty
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 21
Release: 1995-04-13
Genre: Business & Economics
ISBN: 1451973497
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This chapter presents several papers included in the Bretton Woods conference. The Bretton Woods Conference of 1944 had left many issues of development finance unresolved. In fact, very early, the World Bank took a different direction from that envisaged by its founders. The IMF came into existence on December 27, 1945. The eventual growth in the Fund's activities led to the disappearance of the nonresident Executive Director. A teleological approach in the examination of the IMF’s authority was inspired not only by the principle that the Fund must be effective in the pursuit of its purposes but also by the belief that the Articles, and especially the provisions on the par value system, constituted an international monetary system. In the 1950s, the Bank made an important contribution to helping countries cope with the external debt problems left over from the 1930s. Moreover now it is trying, in cooperation with the IMF, to help countries make necessary adjustments on a case-by-case basis.