Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/192961
Authors: 
L´Hotellerie-Fallois, Pilar
Broos, Menno
Gallego Herrero, Sonsoles
Garrido Chamorro, Isabel
Vicente, Fernando López
Mukhopadhyay, Mayukh
Maurini, Claudia
Vonessen, Benjamin
Year of Publication: 
2018
Series/Report no.: 
ECB Occasional Paper 213
Abstract: 
In this report, three methodological approaches are applied to assess the size of the International Monetary Fund: benchmarking Fund resources against a number of relevant global economic and financial indicators; an extrapolation of past and current IMF programme characteristics; and a shock scenario analysis. Overall, while the results of the different approaches depend on the assumptions and the timeframe considered, the quantitative analysis indicates that a prudent approach would call for maintaining Fund total resources at their current levels. Yet, the quantitative analysis of the size of the Fund made in this report should be seen only as one element to assess the adequacy of Fund resources. It does not take into account qualitative considerations, such as the increased resilience of the global economy and the efforts made to strengthen regulation and supervision since the financial crisis, which should complement the quantitative analysis to complete the analytical basis for decision makers. Moreover, the final decision on the appropriate size of Fund resources will need to include political judgement. Therefore, this report does not provide recommendations on the appropriate level of IMF resources after the expiration of borrowed resources.
Subjects: 
IMF
GFSN
shock scenario analysis
JEL: 
F3
F32
F38
F42
F65
G28
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-3372-8
Document Type: 
Research Report
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