1. This evaluation examines the research produced at the IMF between 1999 and 2008.1 It focuses on the relevance and utilization of the research, particularly as seen by authorities in member countries, and also examines technical quality and the management of research activities. The evaluation identifies ways to improve the relevance, quality, and management of IMF research. Research is defined broadly to capture most analytical publications of the IMF, ranging from surveillance-oriented output—such as selected issues papers (SIPs) prepared for Article IV consultations and the analytical chapters of the World Economic Outlook (WEO) and Global Financial Stability Report (GFSR)—to more academically-oriented output—such as working papers (WPs) and external journal publications. During the evaluation period these outputs comprised a large body of research, about 650 publications annually, at a cost of about 10 percent of the IMF budget.
Aizenman, Joshua, Hali Edison, Larissa Leony, and Yi Sun, 2013, “Evaluating the Quality of IMF Research: A Citation Study,” IEO Background Paper No. BP/11/01 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Banerjee, Abhijit, Angus Deaton, Nora Lustig, Ken Rogoff, and Edward Hsu, 2006, “An Evaluation of World Bank Research, 1998–2005” (Washington: World Bank).
Bayoumi, T., 2004, “GEM: A New International Macroeconomic Model,” IMF Occasional Paper No. 239 (Washington: International Monetary Fund).
Boadway, Robin, Christopher Heady, and Henrik Kleven, 2013, “Review of IMF Research on Tax Policy,” IEO Background Paper No. BP/11/03 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Botman, D., D. Laxton, D. Muir, and A. Romanov, 2006, “A New-Open-Economy-Macro Model for Fiscal Policy Evaluation,” IMF Working Paper No. 06/45 (Washington: International Monetary Fund).
Caprio, Gerard, Jr., 2013, “IMF Research on Macro-Financial Linkages,” IEO Background Paper No. BP/11/07 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Goodfriend, Marvin, Reiner König, and Rafael Repullo, 2004, “External Evaluation of the Economic Research Activities of the European Central Bank” (Frankfurt: European Central Bank).
Independent Evaluation Office of the International Monetary Fund (IEO), 2004, Evaluation of the IMF’s Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Independent Evaluation Office of the International Monetary Fund (IEO), 2005, The IMF’s Approach to Capital Market Liberalization (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Independent Evaluation Office of the International Monetary Fund (IEO), 2006, Multilateral Surveillance (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Independent Evaluation Office of the International Monetary Fund (IEO), 2007, The IMF and Aid to Sub-Saharan Africa (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Independent Evaluation Office of the International Monetary Fund (IEO), 2013, IMF Performance in the Run-Up the Financial and Economic Crisis: IMF Surveillance in 2004–07 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
International Monetary Fund (IMF), 2003, World Economic Outlook, April (Washington: International Monetary Fund).
International Monetary Fund (IMF), 2004, World Economic Outlook, April (Washington: International Monetary Fund).
International Monetary Fund (IMF), 2005, World Economic Outlook, October (Washington: International Monetary Fund).
International Monetary Fund (IMF), 2007, World Economic Outlook, April (Washington: International Monetary Fund).
International Monetary Fund (IMF), 2008a, World Economic Outlook, April (Washington: International Monetary Fund).
International Monetary Fund (IMF), 2008b, World Economic Outlook, October (Washington: International Monetary Fund).
Kiguel, Miguel A., 2013, “A n Evaluation of the Research Chapters of the IMF’s World Economic Outlook and Global Financial Stability Report,” IEO Background Paper No. BP/11/05 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Kumhof, M., and D. Laxton, 2007, “A Party without a Hangover? On the Effects of U.S. Fiscal Deficits,” IMF Working Paper No. 07/202 (Washington: International Monetary Fund).
Kumhof, M., D. Laxton, D. Muir, and S. Mursula, 2010, “The Global Integrated Monetary and Fiscal Model (GIMF)—Theoretical Structure,” IMF Working Paper No. 11/34 (Washington: International Monetary Fund).
Kuttner, Kenneth, Petra Geraats, and Refet Gürkaynak, 2013, “Review of IMF Research on Monetary Policy Frameworks,” IEO Background Paper No. BP/11/02 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Laxton, D., and P. Pesenti, 2003, “Monetary Rules for Small, Open, Emerging Economies,” Journal of Monetary Economics, Vol. 50, No. 5 (July), pp. 1109–46.
Meyer, Laurence, Martin Eichenbaum, Douglas Gale, Andrew Levin, and James McAndrews, 2008, “External Review of Economic Research Activities at the Bank of Canada” (Ottawa: Bank of Canada).
Mishkin, Frederic, Francesco Giavazzi, and T.N. Srinivasan, 1999, “Report of the External Evaluation Committee on the IMF’s Economic Research Activities” (Washington: International Monetary Fund).
Montiel, Peter J., 2013, “Review of IMF Regional Economic Outlook Reports, 2003–09,” IEO Background Paper No. BP/11/06 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
Office of Evaluation and Oversight, Inter-American Development Bank (IDB), 2006, “Evaluation of the IDB’s Studies,” RE-323, November (Washington: Inter-American Development Bank).
Selowsky, Marcelo, and Marko škreb, 2013, “An Examination of the Quality of a Sample of 60 Selected Issues Papers,” IEO Background Paper No. BP/11/04 (Washington: International Monetary Fund). Available at www.ieo-imf.org.
St-Amant, Pierre, Greg Tkacz, Annie Guérard-Langlois, and Louis Morel, 2005, “Quantity, Quality, and Relevance: Central Bank Research, 1990–2003,” Bank of Canada Working Paper 2005-37, December (Ottawa: Bank of Canada).
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