CEPR Responds to the IMF’s Reply and Defense of Its Policies During the World Recession
This paper is part of a discussion between CEPR and the International Monetary Fund (IMF) regarding CEPR’s paper, “IMF-Supported Macroeconomic Policies and the World Recession: A Look at Forty-One Borrowing Countries.” An IMF representative presented a response to that paper at an October 15, 2009 event in Washington D.C., in remarks and a power point presentation. The earlier CEPR paper examined IMF agreements with 41 countries during the current global recession and found that 31 of the 41 countries had implemented pro-cyclical policies – for example cutting spending or tightening monetary policy -- that would be expected to exacerbate an economic downturn. This new discussion paper responds to the IMF's defense of its policies.
|Date of creation:||Oct 2009|
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- Reinhart, Carmen M. & Rogoff, Kenneth S., 2009.
"The Aftermath of Financial Crises,"
11129155, Harvard University Department of Economics.
- Jose Antonio Cordero, 2009. "The IMF’s Stand-by Arrangements and the Economic Downturn in Eastern Europe: The Cases of Hungary, Latvia, and Ukraine," CEPR Reports and Issue Briefs 2009-31, Center for Economic and Policy Research (CEPR).
- David Rosnick & Mark Weisbrot, 2007. "Political Forecasting? The IMF's Flawed Growth Projections for Argentina and Venezuela," CEPR Reports and Issue Briefs 2007-10, Center for Economic and Policy Research (CEPR).
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