Surveillance by international institutions lessons from the global financial and economic crisis by Kumiharu Shigehara and Paul Atkinson, published by OECD. “This paper reviews key policy messages and warnings about developments in the run-up to the global financial and economic crisis that began in mid-2007 which are contained in the main publications of the IMF, the OECD and the BIS and discuss issues relevant to strengthening their surveillance activities for making appropriate policy in the future. The review finds that the institutions did not recognize the need for monetary tightening in a timely way for either the US of UK, two epicentres of the global crisis.
