Abstract
The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF, and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.
Working Paper No. 01/193
Stock Market Liberalizations: Financial and Macroeconomic Implications
Fuchs-Schundeln, Nicola; Funke, Norbert
Working Paper No. 01/194
Exchange Rate Pass-Through to Domestic Prices: Does the Inflationary Environment Matter?
Choudhri, Ehsan U.; Hakura, Dalia S.
Working Paper No. 01/195
Fiscal Expenditure Policy and Non-Oil Economic Growth: Evidence from GCC Countries
Fasano, Ugo; Wang, Qing
Working Paper No. 01/196
An Unbiased Appraisal of Purchasing Power Parity
Cashin, Paul A.; McDermott, C. John
Working Paper No. 01/197
Limiting Currency Volatility to Stimulate Goods Market Integration: A Price-Based Approach
Parsley, David; Wei, Shang-Jin
Working Paper No. 01/198
Sources of Inflation in Developing Countries
Loungani, Prakash N.; Swagel, Phillip L.
Working Paper No. 01/199
Regional Disparities and Transfer Policies in Russia: Theory and Evidence
Dabla-Norris, Era; Weber, Shlomo
Working Paper No. 01/200
Risk Diversification in the Credit Portfolio: An Overview of Country Practices
Morris, JoAnne
Working Paper No. 01/201
Financial Stability and Fiscal Crises in a Monetary Union
Jahjah, Samir
Working Paper No. 01/202
Corporate Restructuring in Japan: An Event-Study Analysis
Chan-Lau, Jorge
Working Paper No. 01/203
Mind the Gap: What Is the Best Measure of Slack in the Euro Area?
Ross, Kevin; Ubide Querol, Angel J.
Working Paper No. 01/204
The Impact of Corporate Governance Structures on the Agency Cost of Debt
Chan-Lau, Jorge
Working Paper No. 01/205
Central Bank Independence and the Design of Fiscal Institutions
Castellani, Francesca; Debrun, Xavier
Working Paper No. 01/206
Quality Controls, License Transferability, and the Level of Investment
Krishna, Kala; Tan, Ling H.; Ranjan, Ram
Working Paper No. 01/207
Uncovered Interest Parity in Crisis: The Interest Rate Defense in the 1990s
Flood, Robert P.; Rose, Andrew K.
Working Paper No. 01/208
Government Spending, Legislature Size, and the Executive Veto
Baqir, Reza
Working Paper No. 01/209
The Treatment of Nonperforming Loans in Macroeconomic Statistics
Bloem, Adriaan; Gorter, Cornelis N.
Working Paper No. 01/210
Convertibility Risk: The Precautionary Demand for Foreign Currency in a Crisis
Black, Stanley; Christofides, Charis; Mourmouras, Alexandros T.
Working Paper No. 01/211
Systemic Weaknesses of Budget Management in Anglophone Africa
Lienert, Ian C.; Sarraf, Feridoun
Working Paper No. 01/212
Legal Central Bank Independence and Inflation in Latin America During the 1990s
Jacome H., Luis I
Working Paper No. 01/213
A Model of the Joint Distribution of Banking and Exchange-Rate Crises
Flood, Robert P.; Marion, Nancy P.
Working Paper No. 01/214
Pension Reform and the Fiscal Policy Stance
Mackenzie, George A.; Gerson, Philip R.; Cuevas, Alfredo; Heller, Peter S.
Working Paper No. 01/215
An Investigation of Output Variance Before and During Inflation Targeting
Nadal De Simone, Francisco D.
Working Paper No. 01/216
Import-Reducing Effect of Trade Barriers: A Cross-Country Investigation
Wang, Qing
Working Paper No. 02/1
The Impact of Changes in Stock Prices and House Prices on Consumption in OECD Countries
Ludwig, Alexander; Slok, Torsten M.
Working Paper No. 02/2
The Austrian Theory of Business Cycles: Old Lessons for Modern Economic Policy?
Oppers, Stefan E.; Office in Europe
Working Paper No. 02/3
Currency Crises and Uncertainty About Fundamentals
Prati, Alessandro; Sbracia, Massimo
Working Paper No. 02/4
Financial Crises, Poverty, and Income Distribution
Baldacci, Emanuele; De Mello Jr., Luiz R.; Inchauste Comboni, Maria G.
Working Paper No. 02/5
Fiscal Sustainability and Monetary versus Fiscal Dominance: Evidence from Brazil, 1991–2000
Tanner, Evan C.; Ramos, Alberto M.
Working Paper No. 02/6
Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi
Mlachila, Montfort P.; Chirwa, Ephraim W.
Working Paper No. 02/7
Predicting Emerging Market Currency Crashes
Kumar, Manmohan S.; Moorthy, Uma; Perraudin, William
Working Paper No. 02/8
The Corporate Spread Curve and Industrial Production in the United States
Chan-Lau, Jorge; Ivaschenko, Iryna V
Working Paper No. 02/9
Structural Vulnerability and Currency Crises
Ghosh, Swati R.; Ghosh, Atish R.
Working Paper No. 02/10
Impact of Structural Reforms on Productivity Growth in Industrial Countries
Salgado, Ranil M.
Working Paper No. 02/11
Capital Flows to Transition Economies: Master or Servant
Lipschitz, Leslie J.; Lane, Timothy D.; Mourmouras, Alexandras T.
Working Paper No. 02/12
Mexico: Experiences with Pro-Poor Expenditure Policies
Corbacho, Ana; Schwartz, Gerd J.
Working Paper No. 02/13
Sources of Economic Growth in East Asia: A Nonparametric Assessment
Iwata, Shigeru; Khan, Mohsin S.; Murao, Hiroshi
Working Paper No. 02/14
Exchange Market Pressure, Currency Crises, and Monetary Policy: Additional Evidence from Emerging Markets
Tanner, Evan C.
Working Paper No. 02/15
Activation of a Modern Industry
Wang, Ping; Xie, Danyang
Working Paper No. 02/16
Population Aging and Its Macroeconomic Implications: A Framework for Analysis
Faruqee, Hamid
Working Paper No. 02/17
The Role of Affordable Mortgages in Improving Living Standards and Stimulating Growth: A Survey of Selected MENA Countries
Erbas, S. Nuri; Nothaft, Frank E
Working Paper No. 02/18
A New Rule: “The Swiss Debt Brake”
Danninger, Stephan
Working Paper No. 02/19
Debt, Deficits, and Age-Specific Mortality
Faruqee, Hamid
Working Paper No. 02/20
Lending Booms, Real Estate Bubbles, and The Asian Crisis
Collyns, Charles V.; Senhadji, Abdelhak S.
Working Paper No. 02/21
The New Russian Budget System: A Critical Assessment and Future Reform Agenda
Diamond, Jack
Working Paper No. 02/22
Budget System Reform in Transitional Economies: The Experience of Russia
Diamond, Jack
Working Paper No. 02/23
Why is Unemployment High in the Philippines?
Brooks, Ray
Working Paper No. 02/24
Assessing Accuracy and Reliability: A Note Based on Approaches Used in National Accounts and Balance of Payments Statistics
Carson, Carol S.; Laliberte, Lucie
Working Paper No. 02/25
The Output Decline in Asian Crisis Countries: Investment Aspects
Greene, Joshua E.
Working Paper No. 02/26
Growth and Convergence in a Two-Region Model: The Hypothetical Case of Korean Unification
Funke, Michael; Strulik, Holger
Working Paper No. 02/27
Commodity Currencies and Empirical Exchange Rate Puzzles
Chen, Yu-chin; Rogoff, Kenneth
Working Paper No. 02/28
The Forward Premium Puzzle Revisited
Meredith, Guy M.; Ma, Yue
IMF Working Papers and other IMF publications can be downloaded in full-text format from the Research at the IMF website: http://www.imf.org/research.