IMF could help overcome ‘myopia' on international monetary policy co-operation

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The IMF could act as an "honest broker" in a new system of international monetary policy co-operation, to overcome central bankers' "myopia" over the potential welfare-enhancing effects of working together with their counterparts abroad, according to a new paper by Jonathan Ostry, the IMF's deputy director of research.

In the ‘discussion note' published with the approval of research director Olivier Blanchard, Ostry and his colleague Atish Ghosh argue that the potential gains from international

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