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.
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.
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.
This book, edited by Bruce J. Summers, makes a practical contribution to increased understanding of payment system design and management and of the relationship between the payment system and monetary policy. the authors of the 12 papers included in the book are central banking experts from around the world who draw on their experiences in providing technical assistance to the cental banks of the countries of the former U.S.S.R.
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.
This book, by A. Premchand, Assistant Director, IMF's Fiscal Affairs Department, provides a comprehensive discussion of the expenditure process in public authorities from a management perspective. It covers the various aspects, ranging from budget formulation to the courteous delivery of services to the public. In each, it considers the critical issues faced in industrial and developing countries and former centrally planned economies and discusses the efforts necessary to assure the public about the adequacy of public expenditure management machinery.
The collapse of central economic planning in many countries and the breakup of the Soviet Union have put into disarray systems of government revenues and expenditures in these countries. This collection of 16 papers, edited by Vito Tanzi, analyzes the strengths and weaknesses of fiscal policies under the old system of central planning and suggest ways to revitalize those policies in the newly emerging market economies.