Showing 1 - 10 of 771
This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...
Persistent link: https://www.econbiz.de/10014396173
This paper examines the dynamics of the foreign exchange market. The first half addresses a number of key questions regarding the forecasts of future exchange rates made by market participants, by means of updated estimates using survey data. Here we follow most of the theoretical and empirical...
Persistent link: https://www.econbiz.de/10014396182
Small developing states are disproportionately vulnerable to natural disasters. On average, the annual cost of disasters for small states is nearly 2 percent of GDP-more than four times that for larger countries. This reflects a higher frequency of disasters, adjusted for land area, as well as...
Persistent link: https://www.econbiz.de/10014408600
The Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI) are valuable components of the disaster risk financing tool kit for Fund members, especially developing countries. They help to meet urgent balance of payments needs, and are designed to play a catalytic role in mobilizing...
Persistent link: https://www.econbiz.de/10014408736
increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about …
Persistent link: https://www.econbiz.de/10014406218
Background. The case for sovereign state-contingent debt instruments (SCDIs) as a countercyclical and risk-sharing tool has been around for some time and remains appealing; but take-up has been limited. Earlier staff work had advocated the use of growth-indexed bonds in emerging markets and...
Persistent link: https://www.econbiz.de/10014408735
Organization for Economic Cooperation and Development, and the World Bank reflects the changes and improvements that have been …
Persistent link: https://www.econbiz.de/10014409339
Persistent link: https://www.econbiz.de/10014409721
Reform package. Comprehensive reform of Fund governance-encompassing quotas, ministerial engagement and oversight, the size and composition of the Executive Board, voting rules, management selection, and staff diversity-is essential to enhancing the Fund's long-term legitimacy and effectiveness....
Persistent link: https://www.econbiz.de/10014410320
The paper explores the pros and cons of maintaining the current 'freely usable currency' criterion, and clarifies indicators for assessing it. The freely usable concept and its two key elements-currencies should be "widely used" and "widely traded"-are set out in the Articles and serve important...
Persistent link: https://www.econbiz.de/10014410363