Since the grave disruption of the subprime market at the start of the global financial crisis triggered major turbulences in the functioning of money markets in all large advanced economies, central bankers have experienced extraordinarily demanding and difficult times, characterized by a...

The broader governance reform debate-which goes beyond quotas to issues such as engagement by high-level policymakers, Fund management selection, Board structure, rules and accountability-has not got very far in garnering a consensus at the Executive Board. This is the case even though, in...

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT) emerging market economies. The paper uses a particularly simple and flexible general equilibrium model structure that can be amended to account for various phenomena that...

The papers published in this volume are based on an IMF seminar held in 1988 covering a broad range of topics dealing with monetary and financial law. Topics presented at the seminar focused on the liberalization of capital movements, data dissemination, the IMF's goals in financial surveillance...

The Legal Department and the Institute of the IMF held their ninth biennial seminar for legal advisors of IMF member countries’ central banks, and the papers published in this volume are based on presentations made by officials attending this seminar. The seminar covered a broad range of...

This paper discusses a Detailed Assessment of the Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies—Securities Regulation for Italy. The paper discusses that in the area of securities regulation, the objectives and responsibilities of the two...

The main theme of Volume 5 in this series is law and financial stability. The chapters cover many topics that enhance the reader's understanding of financial stability, as well as the many instruments available to promote it. The contributors discuss and analyze a range of issues such as,...