1

2 “... as an obstacle to the smooth transmission of monetary policy impulses. Yet, no systematic measure...”

3 Subjects: “...International Monetary Fund...”

4 “...IMF Policy Discussion Papers...”

5 “... room for monetary policy, on fiscal policy...”

6 “... into account the short and long-run interactions between economic growth and fiscal policy. Many countries must...”

7 “... in controlling policy instruments. Thus, the world has moved toward monetary frameworks in which, through...”

8 “... of fiscal policy. An accepted practice is to measure it as the ratio of government spending to GDP. However...”

9 “...During the 1990s, the concept of "catalytic official finance" (COF) gained prominence in policy...”

10 “.... This paper describes the causes of this expansion, assesses future trends, and evaluates its policy...”

11 “...Exchange rate analysis lies at the center of the IMF's surveillance mandate and policy advice...”

12 “...The latest in a series of papers published by the International Monetary Fund on economies...”