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5 edition of Exchange rate analysis in support of IMF surveillance found in the catalog.

Exchange rate analysis in support of IMF surveillance

Exchange rate analysis in support of IMF surveillance

a collection of empirical studies

by

  • 121 Want to read
  • 28 Currently reading

Published by International Monetary Fund in Washington, D.C .
Written in English

    Subjects:
  • International Monetary Fund,
  • Foreign exchange rates

  • About the Edition

    Exchange rate analysis lies at the center of the IMF"s surveillance mandate and policy advice, as well as in the design of IMF-supported programs, and IMF staff are called upon to analyze a variety of exchange rate issues in various member countries, both small and large, from the least economically developed to the most advanced, and from those whose currencies circulate only locally to those whose currencies are of global importance. This book provides a sample of the topics the IMF staff typically examine under the broad rubric of exchange rate analysis, encompassing several topics: determination and impact of the real exchange rate, assessing competitiveness and the equilibrium real exchange rate in specific countries or country groups, and considerations in the choice of exchange rate regime.--Publisher"s description.

    Edition Notes

    Includes bibliographical references.

    StatementCarlo Cottarelli ... [et al.], editors.
    ContributionsCottarelli, Carlo., International Monetary Fund.
    Classifications
    LC ClassificationsHG3851 .E879 2008
    The Physical Object
    Paginationxviii, 332 p. :
    Number of Pages332
    ID Numbers
    Open LibraryOL23192902M
    ISBN 101589067282
    ISBN 109781589067288
    LC Control Number2009275452


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Exchange rate analysis in support of IMF surveillance Download PDF EPUB FB2

Exchange rate analysis lies at the center of the IMF's surveillance mandate and policy advice, as well as in the design of IMF-supported programs, and IMF staff are called upon to analyze a wide variety of exchange rate issues in various member countries, both small and large, from the least economically developed to the most advanced, and from those whose currencies.

Exchange Rate Analysis in Support of IMF Surveillance xvii exchange rate itself. Faced with this challenge, the authors of this study adopt a variety of interesting and innovative approaches. Considerations in Choice of Exchange Rate Regime Each IMF member country is free to adopt the exchange rate regime of its choice.

Title: Exchange Rate Analysis in Support of IMF Surveillance: A Collection of Empirical Studies Books Date: September 8, Real Exchange Rates and Fundamentals: A Cross-Country Perspective Author. IMF SURVEILLANCE: METHODS OF EXCHANGE RATE ASSESSMENTS Norbert Funke, Director, Joint Vienna Institute University of Munich, 17 June The views expressed in this presentation are those of the author and do not necessarily represent those of the International Monetary Fund (IMF) or the Joint Vienna Institute (JVI) or IMF policy or JVI.

External evaluation of IMF surveillance: report / by a group of independent experts. Includes bibliographical references. ISBN (pbk.) 1. International Monetary Fund.

Economic policy—Evaluation. International Monetary Fund. HGI58 E95 '52—dc21 Price: US$ Please send orders to. A core function of IMF surveillance is providing multilaterally consistent assessments of member countries’ external sector, including their exchange rates, current accounts, reserves, capital flows, and external balance sheets.

This is done comprehensively in Article IV consultations and in the External Sector Report. This report, which has been produced. A core responsibility of the IMF is to oversee the international monetary system and monitor the economic and financial policies of its member countries, an activity known as surveillance.

As part of this process, which takes place at the global, regional, and country levels, the IMF identifies potential risks to stability and recommends appropriate policy adjustments. "Surveillance" is the catch-all term encompassing the process by which the IMF oversees the international monetary system and global economic developments and monitors the economic and financial policies of its member countries.

To support balance sheet analysis, the Statistics Department has developed a template to generate the balance. Exchange rate analysis has been at the core of IMF surveillance. The Articles of Agreement state that the IMF is, among others: “to promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation.” In addition, under the.

IMF Surveillance over China’s Exchange Rate Policy By Michael Mussa Senior Fellow IMF exchange rate surveillance in a recent report of the IMF’s Independent Evaluation Office (IMF c), progress has been made in this area since analysis of, global economic and financial developments and of key risks to.

Exchange rate analysis lies at the center of the IMF's surveillance mandate and policy advice, as well as in the design of IMF-supported programs, and IMF staff are called upon to analyze a variety of exchange rate issues in various member countries, both small and large, from the least economically developed to the most advanced, and from those whose currencies circulate only locally to those whose currencies are of global importance.

plement firm surveillance over members’ exchange rate policies, and re-lated analytical work lost priority. However, the ERM crisis of the early s and the fall of the dollar in early brought renewed activity and interest in IMF surveillance over exchange rates.

This activity and interest deepened as a number of impor. IMF EXCHANGE RATE POLICY ADVICE | EVALUATION UPDATE 1 EXECUTIVE SUMMARY T he IEO evaluation of IMF Exchange Rate Policy Advice found that the IMF was “not as effective as it need[ed] to be” in fulfilling its responsibilities for exchange rate surveillance in the period – It acknowledged the inherent complexity of.

Featured Best Sellers Titles Exchange Rate Analysis in Support of IMF Surveillance: A Collection of Empirical Studies edited by Carlo Cottarelli, Atish. The Legal Basis for IMF Surveillance Principal Institutions and Country Groups Engaged in Global Dedicated analysis of exchange rate issues and related spillover - 8 - effects, however, does not appear frequently—which is surprising given the IMF’s mandate.

The Fund itself (Article IV, Section 3) is to "exercise firm surveillance over the exchange rate policies of members" and, under principles and procedures adopted in (after the initial advent of floating exchange rates), the first indicator of the need for such surveillance is "protracted, large-scale intervention in one direction in the.

Downloadable (with restrictions). The International Monetary Fund (IMF) recently adopted the " Decision on Bilateral Surveillance Over Members' Policies," a landmark reform that modernizes the general principles of IMF surveillance.

However, support for the reform was not unanimous, and doubts have been expressed about how the Decision would be applied in Cited by: 2.

Exchange Rate Assessments: CGER Methodologies (IMF's Occasional Paper) [Lee, Jaewoo, Milesi-Ferretti, Gian Maria, Ostry, Jonathan D, Prati, Alessandro, Ricci, Luca Antonio] on *FREE* shipping on qualifying offers. Exchange Rate Assessments: CGER Methodologies (IMF's Occasional Paper)Format: Paperback.

Currency Manipulation: The IMF and WTO Congressional Research Service Summary Congress has been concerned, for many years, with the possible impact that currency manipulation has on international trade. The International Monetary Fund (IMF) has jurisdiction for exchange rate questions.

The World Trade Organization (WTO) is responsible for the rules. ships between exchange rates and other important economic variables. In surveying theoretical models of exchange rate determination, therefore, it is appropriate to examine the empirical regularities that have been characteris- tic of the behavior of exchange rates and other related variables under float- ing exchange rate by: Abstract.

The International Monetary Fund (IMF) and the foreign exchange market (FOREX) are inextricably linked in the global marketplace.

This chapter explains how these two institutions are connected and how they affect governments’ monetary and fiscal : Satyendra Singh.

Manipulation of exchange rates by a member to gain an unfair advantage over other member is prohibited. The IMF has surveillance over the exchange rate policies of the members and is free to put forward its frank opinion on such policies. Subject to these provisions each country can have its own exchange rate system.

Improving IMF Bilateral Exchange Rate Surveillance. In Junethe IMF Executive Board adopted a new Decision on Bilateral Surveillance over Members’ Policies, replacing the Decision on Surveillance over Exchange Rate Policies as the guiding document on surveillance.

The new decision was strongly backed by the U.S. The analysis is divided in two steps: First, we assess whether the release of IMF information affects sovereign spreads and other asset prices, such as exchange rates and equity returns.

I can see why the G-7 is calling for the IMF to take a bit more active role in exchange rate surveillance. That doesn't mean endorsing the current exchange rate. IMF bilateral surveillance on exchange rate policies of member countries; and which member countries are in violation of the Decision including those that are manipulating exchange rates for the purpose of securing fundamental exchange rate misalignment in the form of an undervalued exchange rate with the purpose to increase net exports.

The Politics of Influence: An Analysis of IMF Surveillance Article (PDF Available) in Review of International Political Economy 15(5) December. The International Monetary Fund (IMF) recently adopted the " Decision on Bilateral Surveillance Over Members' Policies," a landmark reform that modernizes the general principles of IMF surveillance.

However, support for the reform was not unanimous, and doubts have been expressed about how the Decision would be applied in practice. The authors assess the first Cited by: 2. Shopping cart trans. Asia and the Pacific. British Indian Ocean Territory.

Brunei Darussalam. Korea, Republic of. Lao People's Democratic Republic. Marshall Islands. Micronesia, Federated States Of. Papua New Guinea. Solomon Islands. Bosnia and Herzegovina. Macedonia, the Former Yugoslav Republic Of.

Moldova, Republic of. Russian Federation. Gustavo Adler of the International Monetary Fund (IMF) will present “Exchange Rates and External Adjustment,” the analytical chapter of the Fund’s External Sector Report, on Septemat the Peterson Institute for International Economics (PIIE).PIIE Senior Fellows José De Gregorio and Joseph E.

Gagnon discussed their insights on the report, which. Abstract. The International Monetary Fund (IMF) is mandated by its members to oversee the international monetary system. One of the key ways it does this is through bilateral and multilateral ‘surveillance’ – monitoring, analysing and providing advice on the economic and financial policies of its members and the linkages between them.

The SDR was introduced by the IMF in as an international reserve asset to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves, government or central bank holdings of gold, and widely accepted foreign currencies that could be used to purchase the domestic currency in world.

Infacing strong criticism for the lack of action of the Fund on exchange rate matters, the Executive Board adopted a Decision on Bilateral Surveillance over Member’s Policies. 14 The decision brought a better definition on the concept of exchange rate manipulation and helped to enhance the analysis over exchange rate issues in IMF’s Cited by: 2.

Overvalued exchange rate (CGER) 00 00 0 0 0 0 00 00 International Balance sheet analysis 00n.a. n.a. 00 0 0 0n.a. 1n.a. n.a. n.a.2 11 Macro 21 1 11 Growth risks 21 1 Growth risks (empirical crisis model) 11 10 1 1 22 2 2 0   "The U.S.

Treasury has cut the legs from under the IMF before it even started the race," said Michael Mussa, chief economist at the fund from to and now a fellow at the Peterson Institute. For our analysis, we go beyond the usual three-way fixed, intermediate, and float categorisation, and adopt a disaggregated de facto classification based on the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions, which allows us to differentiate among the various intermediate exchange rate regimes.

Data from the IMF Staff show that less than two-thirds of Article IV Surveillance Reports included some kind of exchange rate analysis before the decision, while more than 90% did so in 30 These analyses usually come in the form of exchange rate misalignment estimates conducted by the Consultative Group on Exchange Rates (CGER).Cited by: 5.

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world while periodically depending on the Headquarters: Washington, D.C.

U.S. Surveillance in its present form was established by Article IV of the IMF’s Articles of Agreement, as revised in the late s following the collapse of the Bretton Woods system of fixed exchange rates.

Under Article IV, member countries undertake to collaborate with the IMF and with one another to promote stability.