The IMF Monetary Model At Forty

A model reflecting the monetary approach to the balance of payments was developed in the International Monetary Fund (IMF) in the 1950s. Its purpose was to integrate monetary, income, and balance of payments analysis, and it became the basis of the conditionality applied to IMF credits. Extremely simple, with primary focus on the balance of payments effects of credit creation by the banking system, the model has retained its usefulness for policy purposes over time, as it was adapted to changes in member countries' priorities and in the international monetary system, in particular the disappearance of the par value system.
Publication date: April 1997
ISBN: 9781451846805
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International - Economics , International - Economics , monetary approach to the balance of payments , econometric models , IMF , monetary fund , inflation , money supply , monetary model

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