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International Monetary Fund. External Relations Dept.
Rapport des personnalités éminentes, revenu du FMI, réserves d'or du FMI, Andrew Crockett, indicateurs de solidité financière, économie européenne, entretien avec Michael Deppler, Allemagne, France, main-d'œuvre européenne, compétitivité européenne, impôt forfaitaire, Michael Keen.
International Monetary Fund. External Relations Dept.
El Boletín del FMI aborda de manera específica el trabajo del FMI y los grandes temas macroeconómicos y financieros internacionales y ofrece análisis sobre la evolución en los distintos países y regiones y en el mundo; información sobre las operaciones, políticas, reformas y asistencia técnica del FMI; síntesis de las principales investigaciones económicas mundiales; datos fundamentales que no suelen estar disponibles en otras fuentes, e informes sobre debates económicos y financieros que tienen lugar dentro y fuera del FMI. Este boletín de 16 páginas, publicado 12 veces al año, está orientado a una vasta audiencia, que incluye autoridades de política económica, analistas, profesionales del mundo académico y de los medios de difusión y estudiantes. Disponible en inglés, español y francés.
International Monetary Fund. External Relations Dept.
Eminent persons report, IMF income, IMF gold, Andrew Crockett, financial soundness indicators, European economy, Michael Deppler interview, Germany, France, European labor, European competitiveness, flat tax, Michael Keen.
Michael D. Bordo
In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today's emerging economies.
Mr. James M. Boughton
The international monetary system is largely the product of negotiations during World War II between U.S. and U.K. officials, led respectively by Harry Dexter White and John Maynard Keynes. The design of the system, especially the International Monetary Fund, reflects the U.S. plan much more than the British. That outcome resulted not only from the superior economic position of the United States but also from differences between White's and Keynes's views on key issues. Examination of White's economic papers shows that he was more multilateral than Keynes and placed a higher priority on monetary discipline.
International Monetary Fund. Research Dept.

Abstract

The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.

Norman K. Humphreys

Abstract

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.

International Monetary Fund. External Relations Dept.
Following are edited excerpts from an address given by IMF Managing Director Michel Camdessus at the twenty-fourth annual conference of the International Organization of Securities Commissions (IOSCO) in Lisbon, Portugal, on May 25. The full text is available on the IMF’s website (http://www.imf.org).
International Monetary Fund

Abstract

This paper explains the primary aim behind the founding of the IMF. The IMF is a cooperative institution that 181 countries have voluntarily joined because they see the advantage of consulting with one another in this forum to maintain a stable system of buying and selling their currencies so that payments in foreign money can take place between countries smoothly and without delay. The IMF lends money to members having trouble meeting financial obligations to other members, but only on condition that they undertake economic reforms to eliminate these difficulties for their own good and that of the entire membership.

Mr. Manuel Guitián

Abstract

Economic interdependence offers the potential for raising global welfare, but there is a fuzzy boundary between national interests and global objectives in the economic policy area. This paper examines the boundary area. It concludes that all international economic regimes must entail a mix of rules and discretion, and it considers the most appropriate weights to be given to rules and discretion.