1 “... will be carried out, emphasize the preferences of the policymaker, and the role of tough policies in signalling...”

2 “...The “hollowing-out,” or “two poles” hypothesis is tested in the context of a Markov chain model...”

3 “... in carrying out the IMF's responsibility to seek to avoid and help to correct maladjustments in countries...”

4 “..., and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model...”

5 “... out an independent monetary policy (free of fiscal dominance or commitment to another nominal anchor...”

6 “... governance structure. While the transition will be difficult and drawn out, governments should take immediate...”