powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance …) debt restructuring, and on the cross-border resolution of insolvent, internationally active financial firms for fair burden …

The author studies the welfare implications of adjustment programs supported by the International Monetary Fund (IMF … debt ceiling, forces the borrowing economy to always choose repayment over default. The immediate potential welfare cost of … joining a program is driven by IMF conditionality: to be able to borrow from the IMF, the country has to submit to limits on …

provide a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank …

concessional and non-concessional IMF loans. -- IMF ; lending facilities ; extreme bounds analysis … arrangement with the IMF and the determinants of the financial size of such a program. Arguably the world and the global financial … architecture underwent structural changes after the ending of Cold War and so did the role of the IMF. Hence, we update and extend …

This paper investigates the dynamic aggregate response of firm investments to the approval of an IMF arrangement. Using …

This paper provides an empirical evaluation of the Flexible Credit Line (FCL), the IMF's prime precautionary lending …

This paper looks at the recent debt crisis in Greece and argues that the crisis exemplifies a sequence of systematic … that of refinancing, rather than partially writing off, the debt. This mistake has led to excessively restrictive policies …

In this paper we empirically explore the relationship between debt and output in a panel of 72 countries over the … predicted by a standard small open economy model by Aguiar and Gopinath (2007), where debt and output endogenously respond to … total factor productivity (TFP) shocks. First, developing countries' debt falls after a positive output shock, while the …