We investigate to what extent estimated relationships of the IMF's monetary model and their policy implications are sample dependent. This model constitutes the core of the IMF's financial programming models for developing and emerging economies. We observe that estimates of the model's key...

After several years of perseverant implementation, the reform policies we have been pursuing have led to significant and identifiable results. Romania’s economy has continued to perform strongly, although growth is expected to moderate to 6 percent in 2007 on account of prolonged drought...

This paper reviews the Latin American experience with the implementation of 1993 SNAand the updating of the national accounts' base year. It also makes a preliminary assessment of the possible estimation biases in nominal GDP estimates stemming from the use of outdated national accounts base...

This paper analyzes the effectiveness of technical assistance provided by AFRITAC West (AFW) in the area of national accounts using the Fund's Technical Assistance Information Management System (TAIMS). The challenge has been to report on "ultimate outcomes" (i.e., the production and...

This paper extends and modifies the Keynesian critique of inflation targeting with reference to stabilisation policy in emerging market economies. The IMF `basic monetary programming framework` for developing countries uses government borrowing and the exchange rate as policy instruments in...

We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information content of various monetary aggregates in developing countries. We conclude that a high degree of currency substitution argues for a more fixed exchange rate regime, while...