## IMF Research Bulletin, December 2009

_IMF Research Bulletin, March 1, 2010_

## Source details

**Canonical URL:** [IMF Research Bulletin, December 2009](https://www.imf.org/en/publications/imf-research-bulletin/issues/2016/12/31/imf-research-bulletin-december-2009-23520)

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## Bibliographic details
- Published: March 1, 2010
- Series: IMF Research Bulletin
- DOI: https://doi.org/10.5089/9781455279517.026

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### Credit conditions and recoveries from financial crises
- Examines credit conditions and recoveries from financial crises.
- Highlights that the prospects for recovery from the 2008 global financial crisis "appear to be on the horizon."
- Identifies the central question: what determines the path of recovery from a recession associated with a financial crisis.
- Stresses the policy relevance of this question as policymakers debate how soon to withdraw the extraordinary monetary and fiscal stimulus implemented soon after the onset of the crisis.

### Inflation targeting in emerging economies
- Analyzes inflation targeting in emerging economies.
- Situates inflation targeting alongside other topics such as inflation, monetary policy, money, prices, and financial institutions.

### Key findings and emphasis
- Recovery prospects from the 2008 global financial crisis appear to be on the horizon.
- The timing and sequencing of withdrawal of extraordinary monetary and fiscal stimulus is a critical policy issue tied to the determinants of recovery paths after financial-crisis recessions.

### Policy considerations highlighted
- Policymakers face a tradeoff in deciding how soon to withdraw extraordinary monetary and fiscal stimulus put in place soon after the onset of the crisis.
- Understanding determinants of recovery paths from financial-crisis recessions is essential to inform these withdrawal decisions.

### Subject tags and keywords (as listed)
- Subjects: Credit, Financial crises, Financial institutions, Inflation, Inflation targeting, Monetary policy, Money, Mortgages, Prices
- Keywords: Africa, contagion risk, Credit, Global, Inflation, Inflation targeting, IRB, Mediterranean quartet, Mortgages, policies to address banking sector weakness, policy, productivity spillover, staff position note, Sub-Saharan Africa

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_Source: https://www.imf.org/en/publications/imf-research-bulletin/issues/2016/12/31/imf-research-bulletin-december-2009-23520_