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Macroeconomic Management

Mohsin S. Khan Saleh M. Nsouli Chorng-Huey Wong
Price: $ 28

Since its establishment in 1964, the IMF Institute has trained more than 13,000 officials from 183 member countries in Washington and over 8,000 officials overseas. The training focuses on such subjects as financial programming and policies, monetary and exchange operations, public finance, financial sector issues, and macroeconomic statistics. This book includes some of the background material that the IMF Institute uses in the training of country officials. Although IMF Institute courses also cover structural issues¿such as banking system, public enterprises, and labor market reform (which are also critical to the achievement of economic policy objectives), this book deals only with macroeconomic issues. Specifically, it addresses some of the key questions policymakers face in managing national economies:

-What is the appropriate mix of monetary, fiscal, and exchange rate policies for redressing domestic and external financial imbalances?
-Do policies pursued under IMF-supported programs lead to higher growth, lower inflation, and reduced external imbalances?
-What policies help to promote economic growth?
-What is the importance of current account sustainability, and how can it be determined? What indicators help policymakers to detect risk factors that affect current account sustainability and that contribute to financial crises?
-How should monetary policy be designed? Does inflation targeting enhance the performance of monetary policy?
-How should fiscal policy be used to achieve policy objectives? What are the criteria for assessing the fiscal balance?
-What are the determinants of nominal exchange rates? How can the long-run equilibrium real exchange rate be assessed and measured?

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