This paper uses cross-section and panel data to examine the determinants of the current
account. The empirics find a significant impact of the stage of development and demographic …

The IMF's internal analysis of exchange rate issues has been guided by, and limited by, the
conceptual and empirical frameworks that have emerged from the collective research of the …

Accommodative monetary policies in advanced economies have spurred increased capital
inflows into emerging markets since the global financial crisis. Starting in May 2013, when …

Over the past two years, the IMF staff has been developing a new multicountry macroeconomic
model called the Global Economy Model (GEM). This paper explains why such a model …

By and large, EU financial integration has been a success story. Still, the reform agenda is
far from finished. What are the remaining challenges? What are the gains of closer financial …

This chapter reports on Coordinating Group on Exchange Rate Issues’ (CGER) works and
provides perspectives on alternative frameworks for assessing exchange rates and the …

This paper investigates the long-run pattern of private saving in Indonesia, Malaysia, Singapore,
and Thailand. These countries have not only maintained saving levels that are currently …

This paper investigates the consequences of exchange rate volatility on the variability of
export prices and quantities in the presence of market segmentation and pricing to market. …

This study describes the Mark III version of MULTIMOD, the IMF's multi region macroeconomic
model. Mark III version of MULTIMOD differs from its predecessor in several important …

… Many analyses of the implications of higher public debt assume that there will be * Hamid
Faruqee and Douglas Laxton are Economists in the Research Department; Steven Symansky …