Mr. Alfred Schipke, Mr. Markus Rodlauer, and Ms. Longmei Zhang
Contributors working at the International Monetary Fund present 14 chapters on the development of monetary policy over the past quarter century through the lens of the evolution of inflation-forecast targeting. They describe the principles and practices of inflation-forecast targeting, including managing expectations, the implementation of a forecasting and policy analysis system, monetary operations, monetary policy and financial stability, financial conditions, and transparency and communications; aspects of inflation-forecast targeting in Canada, the Czech Republic, India, and the US; and monetary policy challenges faced by low-income countries and how inflation-forecast targeting can provide an anchor in countries with different economic structures and circumstances.
Mr. Benedict J. Clements, Mr. David Coady, Ms. Stefania Fabrizio, Mr. Sanjeev Gupta, Mr. Trevor Serge Coleridge Alleyne, and Mr. Carlo A Sdralevich
Energy subsidies have wide-ranging economic consequences. Although they are aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Most subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected through the damaging effects of increased energy consumption on global warming. This book provides (1) the most comprehensive estimates of energy subsidies currently available for 176 countries and (2) an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
This is the latest in a series of economic reports by staff economists in the IMF’s Middle Eastern Department. This book discusses the latest economic data coming out of the West Bank and Gaza Strip, with a particular emphasis on growing demographic concerns. The work is enhanced by the addition of numerous data tables and graphs, which extensively analyze economic trends in the region.
A companion document to the fifth edition of the Balance of Payments Manual, the Balance of Payments Compilation Guide shows how the conceptual framework described in the Manual may be implemented in practice. The primary purpose of the Guide is to provide practical guidance for using sources and methods to compile statistics on the balance of payments and the international investment position. The Guide is designed to assist experienced and aspiring balance of payments compilers and statisticians in understanding the relative strengths and weaknesses of various approaches. The material reflects the emergence of new data sources and adaptations in the application of statistical methodologies to changing circumstances. Discussed in the Guide are all of the tasks that a BOP compiler normally performs. Appendices contain a set of model BOP questionaires and a set of model BOP publication tables. Relationships between the balance of payments statistics and relevant aspects of national accounts are covered as well.
Mr. Shehadah Hussein, Mr. Abdelhadi A Yousef, Mr. Mohamed Mahmoud Mohamed Hosny, Mr. Mounir Rached, Mr. Samir El-Khouri, and Mr. Mohamad Elhage
This book aims at illustrating the process of formulating a hypothetical macroeconomic and structural adjustment program, which is a central element in the financial programming courses offered in the IMF Institute. The series of workshops contained in the book elaborate on key concepts for the four main macroeconomic sectors, real, fiscal, monetary, and external sectors-and on forecasting techniques using Egypt as a case study.
The Manual presents concepts, definitions, classifications, and conventions for compilation of balance of payments and international investment position statistics. As the international standard, the Manual serves as a guide for IMF member countries that regularly report balance of payments data to the IMF.
IMF economists work closely with member countries on a variety of issues. Their unique perspective on country experiences and best practices on global macroeconomic issues are often shared in the form of books on diverse topics such as cross-country comparisons, capacity building, macroeconomic policy, financial integration, and globalization.
Mr. Mounir Rached, Mr. Samir El-Khouri, Mr. Mohamed Mahmoud Mohamed Hosny, and Tahir Dajani
The formulation and use of a financial program are the main focus of this book which is used in the Arabic course on financial analysis and policy offered by the IMF Institute. This volume, written by Taher Dajani, Samir El-Khouri, Mohamed Hosny, and Mounir Rached, will be of interest to policymakers and to others in financial planning.
Edited by Said El-Naggar, this book contains six papers presented at a seminar held in Abu Dhabi, United Arab Emirates, under the sponsorship of the Arab Monetary Fund and the IMF. The papers address the issues of adjustment and development in the Arab World, including the role of the IMF and the World Bank, and include case studies on Egypt, Jordan, and Morocco.