This feature distinguishes these concepts from the ‘inferable’ ones that I already mentioned. Invisibility and Public Policy If something is not fully observable, this has many implications for its role in public policymaking. This is true for any policy realm, whether it be health, education, defence, macroeconomic management or anything else. I suspect that many of these implications are underappreciated.
Our symposium is organized in three panels:  II  •  § in the first panel, we will discuss as to whether the international monetary system does function efficiently at present;  •  § the focus of the second panel will be on international financial stability and the respective contributions from national policies and international institutions;  •  § the third panel will concentrate on the role of the IMF in the international monetary and financial system: Can the IMF be a panacea for every problem?