Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different econometric methods, over the period 1880-1997. It finds strong evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an important role in determining the persistence of shocks to the RER.

Foreign Exchange --- International Monetary Arrangements and Institutions --- Open Economy Macroeconomics --- Currency --- Foreign exchange --- Exchange rate arrangements --- Real exchange rates --- Exchange rates --- Exchange rate flexibility --- Exchange rate analysis --- United Kingdom

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Rational speculation in foreign exchange trading is often assumed to dampen exchange rate fluctuations by bringing the market back to fundamentals. Nevertheless, information congestion provides incentives for traders to follow positive feedback strategies which result in persistent and volatile exchange rate behavior by magnifying the impact of exogenous shocks. Empirical evidence is presented which is consistent with such autocatalytic effects.

Finance: General --- Foreign Exchange --- Money and Monetary Policy --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- International Financial Markets --- Currency --- Foreign exchange --- Monetary economics --- Finance --- Exchange rates --- Currencies --- Exchange rate analysis --- Exchange rate adjustments --- Currency markets --- Money --- Financial markets --- Foreign exchange market --- United States

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The IEO’s latest Annual Report covers its activities during the financial year ended April 2007. It summarizes the most recent IEO evaluations of The IMF and Aid to Sub-Saharan Africa and IMF Exchange Rate Policy Advice. The report also presents messages that are common to many IEO evaluations and are particularly noteworthy as the IMF proceeds with the implementation of its Medium-Term Strategy. Other topics discussed include implementation of recommendations made in 2006 by the External Evaluation Panel of the IEO, ongoing projects, the identification of future evaluations, and summaries of follow-ups of past evaluations.

Budgeting --- Foreign Exchange --- Macroeconomics --- Public Finance --- Social Services and Welfare --- Government Policy --- Provision and Effects of Welfare Program --- Development Planning and Policy: Trade Policy --- Factor Movement --- Foreign Exchange Policy --- Labor Economics: General --- National Budget --- Budget Systems --- Currency --- Foreign exchange --- Social welfare & social services --- Labour --- income economics --- Public finance & taxation --- Budgeting & financial management --- Poverty reduction strategy --- Exchange rate policy --- Labor --- Exchange rates --- Exchange rate analysis --- Poverty --- Poverty reduction and development --- Labor economics --- Budget --- Revenue --- Argentina

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The IMF carries out its mandate to foster macroeconomic stability and thereby facilitate prosperity by promoting the adoption of sound policies and international cooperation. Ultimately, the means to achieve these goals is to have Fund policy advice translated into concrete action. Key to achieving such traction is the relationship between Fund staff and member country authorities, together with the quality of the advice and members’ confidence in it. That is, the Fund needs to be seen as a trusted advisor. This evaluation examines in what circumstances the Fund is viewed as a trusted advisor to its member countries. It uses evidence gathered since 2005, but emphasizes the period since the onset of the global crisis in 2007–08. Because the concept of trusted advisor is “in the eyes of the beholder,” the evaluation derives the main attributes from country authorities themselves.

Monetary policy. --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Finance: General --- Foreign Exchange --- Macroeconomics --- Public Finance --- Environmental Economics --- Budgeting --- Financial Risk Management --- Money and Monetary Policy --- General Financial Markets: General (includes Measurement and Data) --- Financial Markets and the Macroeconomy --- General Financial Markets: Government Policy and Regulation --- Taxation, Subsidies, and Revenue: General --- Externalities --- Fiscal Policy --- Financial Crises --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Finance --- Public finance & taxation --- Currency --- Foreign exchange --- Economic & financial crises & disasters --- Budgeting & financial management --- Monetary economics --- Emerging and frontier financial markets --- Macroprudential policy --- Spillovers --- Financial Sector Assessment Program --- Exchange rate analysis --- Financial markets --- Financial sector policy and analysis --- Personal income --- National accounts --- Fiscal stimulus --- Fiscal policy --- Financial sector stability --- Fiscal stabilization --- Financial services industry --- International finance --- Revenue --- Income --- Global Financial Crisis, 2008-2009 --- Budget --- United States