Signaling by the Fund - A Historical Review

Policy Papers, July 16, 2004

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Signaling by the Fund - A Historical Review

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Bibliographic details

• Published: July 16, 2004
• Series: Policy Papers
• Stock No: ISBN

Objective and scope

• The objective of this paper is to review the Fund's thinking about signaling since its inception, with a view to drawing lessons for the design of possible signaling mechanisms.
• The paper draws primarily on the Fund's own thinking and assessments.

Main activities considered and instruments

• Focus on how the Fund's main activities send signals, especially:
  • Surveillance
  • Use of Fund resources (UFR)
• Recognition that the Fund has also created instruments for the express purpose of signaling.

Core findings

• Overall, attempts to "design" signaling mechanisms have been less than fully successful.
• The paper attempts to elucidate why signaling mechanisms have been less than fully successful, based on the Fund's reflections and assessments.

Subjects covered

• Exchange rate policy surveillance
• Fund role
• Fund-supported adjustment programs
• Transparency
• Use of Fund resources

Publication metadata (as presented)

• Title: Signaling by the Fund - A Historical Review
• Date: July 16, 2004
• Format citation provided: Signaling by the Fund - A Historical Review, (USA: International Monetary Fund, 0) accessed 9/18/2026

Source: Signaling by the Fund - A Historical Review (IMF policy paper landing page).