Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial mar

This collection of survey articles sheds light on crucial questions in the field of monetary, financial and macroeconomic policy. Applies rigorous economic theo

IMF-supported adjustment programs aim to restore economic growth, while bringing about a sustainable balance of payments position. Achievement of these goals re

Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneo

This book explains why governments respond differently to macroeconomic problems and why necessary reforms are sometimes delayed until a serious financial crisi