Download or read book Toward an Integrated Policy Framework written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-10-08 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers often face difficult tradeoffs in pursuing domestic and external stabilization objectives. The paper reflects staff’s work to advance the understanding of the policy options and tradeoffs available to policymakers in a systematic and analytical way. The paper recognizes that the optimal path of the IPF tools depends on structural characteristics and fiscal policies. The operational implications of IPF findings require careful consideration. Developing safeguards to minimize the risk of inappropriate use of IPF policies will be essential. Staff remains guided by the Fund’s Institutional View (IV) on the Liberalization and Management of Capital Flows.
Download or read book Policy Framework on Sound Public Governance Baseline Features of Governments that Work Well written by OECD and published by OECD Publishing. This book was released on 2020-12-22 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: The interconnected challenges of our times call for a coherent and multidimensional approach to public governance. The OECD Policy Framework on Sound Public Governance provides governments at all levels with an integrated diagnostic, guidance and benchmarking tool that aims to improve the quality of public governance – an objective that takes on immediate strategic importance for governments as they strive to manage the COVID-19 crisis and plan for a sustainable and inclusive recovery.
Download or read book Economics of Sovereign Wealth Funds written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2010-12-09 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.
Download or read book Integrated Policy Framework Principles for the Use of Foreign Exchange Intervention written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2023-12-21 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note guides policy advice on the use of foreign exchange intervention (FXI) as part of the Integrated Policy Framework (IPF) in Fund surveillance. The note provides general principles for the advice in countries with flexible exchange rates and sets out three use cases for FXI that are tied to specific frictions. It explores the use of FXI as part of an overall policy response, allowing the advice to differ with shocks, frictions, and country-specific circumstances.
Download or read book A Medium Scale DSGE Model for the Integrated Policy Framework written by Mr. Tobias Adrian and published by International Monetary Fund. This book was released on 2022-01-28 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic general equilibrium (DSGE) model of the world economy, featuring a range of nominal and real rigidities, extensive macrofinancial linkages with endogenous risk, and diverse spillover transmission channels. In the pursuit of inflation and output stabilization objectives, it is optimal to adjust all policies in response to domestic and global financial cycle upturns and downturns when feasible—including foreign exchange intervention and capital flow management under some conditions—to widely varying degrees depending on the structural characteristics of the economy. The framework is applied empirically to four small open advanced and emerging market economies.
Download or read book Evolving Monetary Policy Frameworks in Low Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Download or read book Educating One and All written by National Research Council and published by National Academies Press. This book was released on 1997-06-27 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the movement toward standards-based education, an important question stands out: How will this reform affect the 10% of school-aged children who have disabilities and thus qualify for special education? In Educating One and All, an expert committee addresses how to reconcile common learning for all students with individualized education for "one"â€"the unique student. The book makes recommendations to states and communities that have adopted standards-based reform and that seek policies and practices to make reform consistent with the requirements of special education. The committee explores the ideas, implementation issues, and legislative initiatives behind the tradition of special education for people with disabilities. It investigates the policy and practice implications of the current reform movement toward high educational standards for all students. Educating One and All examines the curricula and expected outcomes of standards-based education and the educational experience of students with disabilitiesâ€"and identifies points of alignment between the two areas. The volume documents the diverse population of students with disabilities and their school experiences. Because approaches to assessment and accountability are key to standards-based reforms, the committee analyzes how assessment systems currently address students with disabilities, including testing accommodations. The book addresses legal and resource implications, as well as parental participation in children's education.
Download or read book Foreign Exchange Intervention Rules for Central Banks A Risk based Framework written by Romain Lafarguette and published by International Monetary Fund. This book was released on 2021-02-12 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.
Download or read book Peru written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-03-27 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Against the background of a strong economic performance over the last quarter of a century, Peru has been hit by multiple shocks in the last several years. Adequate policies and very strong policy frameworks have made the economy resilient. Following a steep decline in 2020 at the outset of the pandemic and a rapid recovery in 2021, growth slowed significantly in 2022 as the policy stimulus was withdrawn and external and financial conditions deteriorated. Recent political developments suggest that the new government needs to work across the political spectrum to create broader political consensus, reduce uncertainty, ease social tensions, and boost growth.
Download or read book Macroprudential Policy An Organizing Framework Background Paper written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2011-03-14 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: MCM conducted a survey in December 2010 to take stock of international experiences with financial stability and the evolving macroprudential policy framework. The survey was designed to seek information in three broad areas: the institutional setup for macroprudential policy, the analytical approach to systemic risk monitoring, and the macroprudential policy toolkit. The survey was sent to 63 countries and the European Central Bank (ECB), including all countries in the G-20 and those subject to mandatory Financial Sector Assessment Programs (FSAPs). The target list is designed to cover a broad range of jurisdictions in all regions, but more weight is given to economies that are systemically important (see Annex for details). The response rate is 80 percent. This note provides a summary of the survey’s main findings.
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book Toward Integrated Water Resources Management in Armenia written by Winston Yu and published by World Bank Publications. This book was released on 2014-10-20 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study takes stock of the current water resources management in Armenia, including diagnosing the main sub-sectors (agriculture, urban, environment, and energy), reviewing the institutional framework and implementation status of water-sector policies, identifying the main challenges and making recommendations on the next steps.
Download or read book Strengthening Monetary Policy Frameworks in the Caucasus and Central Asia written by Mr. Tigran Poghosyan and published by International Monetary Fund. This book was released on 2023-08-28 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amidst a global backdrop of persistent post-COVID inflation and spillovers from Russia’s war in Ukraine, the countries of the Caucasus and Central Asia (CCA) region have faced strong price pressures in recent years. Inflation is estimated to have peaked in early 2023, but still exceeds central bank targets. In particular, core inflation remains stubbornly high reflecting a combination of second-round effects, surges in global energy and food prices, and domestic demand pressures. More broadly, uncertainty and downside risks also weigh on the economic outlook, including due to regional tensions, financial turmoil related to international monetary policy normalization, and a growth slowdown in key trading partners. In this context, CCA countries’ ability to contain inflationary pressures and anchor inflation expectations hinges on the credibility and effectiveness of their monetary policy frameworks. Since gaining independence in the 1990s, countries in the CCA region have made considerable progress in modernizing their monetary policy frameworks. CCA central banks have strengthened their legal frameworks and established broad de-jure independence. Armenia, Georgia, Kazakhstan, the Kyrgyz Republic, and Uzbekistan are transitioning to inflation targeting regimes, while the central banks of Azerbaijan, Tajikistan, and Turkmenistan rely on the exchange rate as an operational target. However, the post-COVID surge in inflation has highlighted the limitations of current frameworks and triggered a fresh policy debate on the need to strengthen monetary policy effectiveness in the CCA. This paper reviews the CCA region’s monetary policy landscape, highlights challenges in monetary policy design and implementation, and identifies areas that warrant strengthening. It draws on original surveys of country authorities, IMF country teams, and the work by Unsal and others (2022). It uses novel empirical work to analyze monetary policy transmission, the link between foreign exchange interventions and exchange rate dynamics, the drivers of financial de-dollarization, and the effects of central bank communication in the CCA.
Download or read book An Exchange Rate History of the United Kingdom written by Alain Naef and published by Cambridge University Press. This book was released on 2022-09-29 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: How did the Bank of England manage sterling crises? This book steps into the shoes of the Bank's foreign exchange dealers to show how foreign exchange intervention worked in practice. The author reviews the history of sterling over half a century, using new archives, data and unseen photographs. This book traces the sterling crises from the end of the War to Black Wednesday in 1992. The resulting analysis shows that a secondary reserve currency such as sterling plays an important role in the stability of the international system. The author goes on to explore the lessons the Bretton Woods system on managed exchange rates has for contemporary policy makers in the context of Brexit. This is a crucial reference for scholars in economics and history examining past and current prospects for the international financial system. This title is also available as Open Access on Cambridge Core.
Download or read book Leading Systems Change in Public Health written by Kristina Y. Risley, DrPH, CPCC and published by Springer Publishing Company. This book was released on 2021-12-04 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The authors bring a passion for social justice, equity, and inclusivity to the dialogue about changing the unjust systems that create disparate population health outcomes.” ©Doody’s Review Service, 2022, Suzan C Ulrich, Dr.PH, MSN, MN, RN, CNM, FACNM (Resurrection University) Leading Systems Change in Public Health: A Field Guide for Practitioners is the first resource written by public health professionals for public health professionals on how to improve public health by utilizing a systems change lens. Edited by leaders from the de Beaumont Foundation and the University of Illinois Chicago School of Public Health with chapters written by a diverse array of public health leaders, the book provides an evidence-based framework with practical strategies, processes, and tools for enacting meaningful change. Complete with engaging stories and tips to illustrate concepts in action, this book is the essential guide for current and future public health leaders working within and across individual, interpersonal, organizational, cross-sector, and community levels. The book addresses subjects such as change leadership, health equity, racial justice, power sharing, and readiness for change. It addresses best practices for enacting change at different levels, including at the personal, interpersonal, organizational, and team or cross-sector level, while describing the factors, the processes, skills, and tools required for leading complex change. It not only covers the process of leading systems change but also the importance of community organizing and coalition building, identifying a shared understanding of the problem, how to leverage the lessons of implementation science, and how to understand the relationship between sustainability and public health. Practical examples and stories highlight challenges and opportunities, systems change in action, and the importance of crisis leadership – including lessons learned from the COVID-19 pandemic. Key Features: Enables practitioners to improve public health by utilizing a systems change approach Applies systems change strategies to help discover solutions for improved community health equity and racial justice Integrates practical public health examples and stories from innovative leaders in the field Includes tools for how to implement internal processes that generate creative and effective system change leadership
Download or read book Philippines written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2022-12-15 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new administration took office in July with a blueprint to secure an inclusive, sustainable, and green recovery. While the economy remains fundamentally sound, the new administration will face three important challenges: (1) striking the right policy mix to secure the recovery and safeguard price stability; (2) building fiscal buffers as insurance against downside risks; and (3) raising the Philippine’s long-term growth.
Download or read book Eleventh Periodic Monitoring Report on The Status of Management Implementation Plans In Response To Board Endorsed IEO Recommendations written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-30 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eleventh Periodic Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed Independent Evaluation Office (IEO) Recommendations assessed the progress made over the past 18 months on 72 actions contained in 10 MIPs. Significant progress has been made with the implementation of management actions, despite challenges that have arisen from the ongoing COVID-19 pandemic. Overall, 29 of the 72 actions for which implementation progress is assessed in the Eleventh PMR were deemed to have been satisfactorily implemented, while 35 remain open, and eight actions are being reformulated in line with the Board-approved triage framework for long-standing open actions. Despite the effect of reprioritization to make space for the urgent needs of the membership resulting from the pandemic, the pace of implementation observed in the Eleventh PMR, with the 29 actions closed, significantly exceeds the previous trend of about 15 implemented actions per year. Of the 35 open actions, 16 are more than one year past their implementation due dates. The reprioritization of activities owing to the COVID-19 pandemic and resource constraints on account of several years of flat budgets led to delays in the implementation of several actions, partly because of the postponement of important reviews.
