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Multilateral Consultations are a new tool of multilateral surveillance for the IMF, designed to foster action-oriented debate and policy actions on a problem of systemic or regional importance. The first multilateral consultation focused on facilitating the resolution of global imbalances while...
Persistent link: https://www.econbiz.de/10014409833
These Technical Notes on France explain integration of global financial markets. The stress tests for the France Financial Sector Assessment Program (FSAP) were designed to yield as comprehensive and detailed a picture as possible within the constraints of the approach. Retail activity by...
Persistent link: https://www.econbiz.de/10014405967
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The SDR has enjoyed renewed attention lately in the context of debates on international monetary reform. To be sure …
Persistent link: https://www.econbiz.de/10014410306
This paper addresses three questions about unconventional monetary policies. First, what policies were tried, and with what objectives? Second, were policies effective? And third, what role might these policies continue to play in the future?
Persistent link: https://www.econbiz.de/10014410338
The broader governance reform debate-which goes beyond quotas to issues such as engagement by high-level policymakers … paper lays out the main governance issues, while putting forward variants of reform proposals that might command broader … support. It takes as given that, even if quota reform has its own logic and deadline, this does not preclude parallel …
Persistent link: https://www.econbiz.de/10014410489
This paper provides background information to the main Board paper, 'The Role and Limits of Unconventional Monetary Policy.' This paper is divided in five distinct sections, each focused on a different topic covered in the main paper, though most relate to bond purchase programs. As a result,...
Persistent link: https://www.econbiz.de/10014410614
Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest rates on real output growth for several European...
Persistent link: https://www.econbiz.de/10014400699
This paper evaluates the performance of two alternative policy rules, a forward-looking rule and a spontaneous adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union data. The simulations suggest that forward-looking rules...
Persistent link: https://www.econbiz.de/10014400852