Analyzing International Monetary Fund (IMF) data, we find that overly optimistic growth expectations for a country induce economic contractions a few years later. To isol[...]

This paper investigates the transmission of financial shocks across large economies. To quantify these effects, we estimate a two-region open economy DSGE model that incl[...]

In this paper, we present a vision for IMF surveillance that seeks to produce a more accountable, transparent, and independent surveillance process. First, to make survei[...]

The sharp depreciation of the Canadian dollar and the successful launch of the euro have spawned an animated debate in Canada about the potential benefits of formally ado[...]

On June 15, 2007, the International Monetary Fund (IMF) adopted the "2007 Decision on Bilateral Surveillance over Members' Policies," a landmark reform that modernizes th[...]

The Federal Reserve’s path for withdrawal of monetary stimulus and eventually increasing interest rates could have substantial repercussions for capital flows to emerging[...]

Given the increasing interdependence of both financial systems and attendant payment and settlement systems a vital question is what form should optimal policy take when [...]

The ongoing review of the IMF, initiated in 2005 by Managing Director De Rato, presents an excellent opportunity to re-examine the role, functions and governance of the F[...]

This paper presents a multifactor asset pricing model for currency, bond, and stock returns for ten emerging markets to investigate the effect of the exchange rate regime[...]

The author studies the welfare implications of adjustment programs supported by the International Monetary Fund (IMF). He uses a model where an endogenous borrowing const[...]