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Author(s):
International Monetary Fund
Published Date:
April 2014
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    List of Country Abbreviations

    Argentina

    ARG

    Antigua and Barbuda

    ATG

    Australia

    AUS

    Belize

    BLZ

    Bolivia

    BOL

    Brazil

    BRA

    Canada

    CAN

    Chile

    CHL

    China

    CHN

    Colombia

    COL

    Costa Rica

    CRI

    Dominica

    DMA

    Dominican Republic

    DOM

    Ecuador

    ECU

    El Salvador

    SLV

    Grenada

    GRD

    Guatemala

    GTM

    Guyana

    GUY

    Haiti

    HTI

    Honduras

    HND

    Hungary

    HUN

    India

    IND

    Indonesia

    IDN

    Israel

    ISR

    Jamaica

    JAM

    Korea

    KOR

    Malaysia

    MYS

    Mexico

    MEX

    Nicaragua

    NIC

    Nigeria

    NGA

    Norway

    NOR

    Panama

    PAN

    Paraguay

    PRY

    Peru

    PER

    Philippines

    PHL

    Poland

    POL

    Russia

    RUS

    Qatar

    QAT

    St. Kitts and Nevis

    KNA

    St. Vincent and the Grenadines

    VCT

    Saudi Arabia

    SAU

    Singapore

    SGP

    South Africa

    ZAF

    Thailand

    THA

    Trinidad and Tobago

    TTO

    Turkey

    TUR

    United States

    USA

    Uruguay

    URY

    Venezuela

    VEN

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    New Publications from the Western Hemisphere Department

    IMF Working Papers

    14/61

    Exchange Rate Flexibility and Credit during Capital Inflow Reversals: Purgatory…not Paradise

    Nicolas E. Magud and Esteban R. Vesperoni

    14/60

    Global Financial Shocks and Foreign Asset Repatriation: Do Local Investors Play a Stabilizing Role?

    Gustavo Adler, Marie-Louise Djigbenou, and Sebastian Sosa

    14/59

    Fiscal Policy in Latin America over the Cycle

    Alexander Klemm

    14/28

    The U.S. Manufacturing Recovery: Uptick or Renaissance?

    Oya Celasun, Gabriel Di Bella, Tim Mahedy, and Chris Papageorgiou

    13/251

    Monetary Transmission in Brazil—Has the Credit Channel Changed?

    Mercedes Garcia-Escribano

    13/227

    Sovereign Risk and Belief-Driven Fluctuations in the Euro Area

    Giancarlo Corsetti, Keith Kuester, André Meier, and Gernot J. Mueller

    13/217

    Growth Following Investment and Consumption-Driven Current Account Crises

    Alexander Klemm

    13/206

    State-Owned Banks and Fiscal Discipline

    Jesus Gonzalez-Garcia and Francesco Grigoli

    13/175

    Financial Interconnectedness and Financial Sector Reforms in the Caribbean

    Sumiko Ogawa, Joonkyu Park, Diva Singh, and Nita Thacker

    13/171

    What Explains Movements in the Peso/Dollar Exchange Rate?

    Yi Wu

    13/145

    Potential Output and Output Gap in Central America, Panama, and the Dominican Republic

    Christian Johnson

    13/136

    The Economic Effects of Fiscal Consolidation with Debt Feedback

    Marcello Estevão and Issouf Samake

    13/117

    Fiscal Multipliers in the ECCU

    Jesus Gonzalez-Garcia, Antonio Lemus, and Mico Mrkaic

    13/109

    Is the Growth Momentum in Latin America Sustainable?

    Sebastian Sosa, Evridiki Tsounta, and Hye Kim

    13/103

    Four Decades of Terms-of-Trade Booms: Saving-Investment Patterns and a New Metric of Income Windfall

    Gustavo Adler and Nicolas Magud

    13/97

    Productivity or Employment: Is It a Choice?

    Gustavo Andrea De Michelis, Marcello Estevão, and Beth Anne Wilson

    Selected Issues Papers

    Brazil

    • How Fast Can Brazil Grow?

      Shaun Roache

    • Financing Investment-Led Growth in Brazil

      Shaun Roache and Anna Ter-Martirosyan

    • Inflation in Brazil—Still Persistent?

      Shaun Roache

    • Monetary Transmission in Brazil—Has the Credit Channel Changed?

      Mercedes Garcia-Esribano

    • Public Debt Dynamics Under Brazil’s Fiscal Framework

      Joana Pereira

    • Credit in Brazil: Contribution to Growth in Recent Years

      Mercedes Garcia-Esribano and Fei Han

    • Understanding Housing Markets in Brazil: Mark II

      Heedon Kang

    Canada

    • The Unconventional Energy Boom in North America: Macroeconomic Implications and Challenges for Canada

      Lusine Lusinyan, Dirk Muir, Julien Reynaud, and Soma Patra

    • Is “Dead” Money Alive? A Firm-Level Analysis of Canadian Non-Financial Listed Corporations Cash Holding and Capital Expenditure Behavior

      Ivo Krznar, Tim Mahedy, and Julien Reynaud

    Chile

    • A Tale of Two Recoveries: The Post-Crisis Experience of Brazil and Chile

      Jose Daniel Rodríguez-Delgado and Sofía Bauducco

    • Systemic Risk Assessment and Mitigation in Chile

      Nicolas Arregui and Alejandro Jara

    • What Explains Movements in the Peso/Dollar Exchange Rate?

      Yi Wu, Diego Gianelli, Philip Liu, and Li Zeng

    El Salvador

    • Assessing Potential Output

      Belen Sbrancia and Yulia Ustyugova

    • Balance of Payments Stability Assessment

      Yulia Ustyugova and Francisco Roch

    • Assessing Spillovers

      Yulia Ustyugova

    • Public Debt Sustainability Analysis

      Pablo Druck and Mario Garza

    • Implementing Basel III Standards

      Fernando Delgado

    Guatemala

    • Analytical Note I. Assessing Potential Output

      Carlos Rondón

    • Analytical Note II. Spillover Analysis

      Carlos Rondón, Lennart Erickson, Yulia Ustyugova, and Eugenio Cerutti

    • Analytical Note III. Fiscal Sustainability Assessment

      Yulia Ustyugova

    • Analytical Note IV. Balance Sheets

      Stephanie Medina Cas

    • Analytical Note V. Monetary Policy Stance

      Carlos Rondón

    • Analytical Note VI. Basel III

      Fernando Delgado and Mynor Meza

    Haiti

    • Optimizing Fiscal Policy for High and Inclusive Growth in Haiti

      Elva Bova

    • A Renewed Public Investment Policy in Support of Growth and Poverty Reduction

      Abdel Bessaha

    Mexico

    • Mexico—Reforms to the Fiscal Framework,

      Santiago Acosta-Ormaechea Esteban Vesperoni, and Jeremy Zook

    • Towards a Structural Fiscal Balance Measure for Mexico

      Santiago Acosta-Ormaechea, Esteban Vesperoni, and Jeremy Zook

    • Credit Risk Modeling—The Role of Macroeconomic Factors in the Mexican Banking System

      Roberto Guimaraes-Filho

    Paraguay

    • Effective Banking Sector Spreads in Paraguay

      Kevin Ross and Viviana Garay

    • A Path to Financial De-dollarization in Paraguay

      Juan F. Yépez

    Peru

    • Peru: Fiscal Framework Alternatives for a Resource Rich Country

      Svetlana Vtyurina

    • Resisting the Pressures from Capital Flows: Are Foreign Exchange Interventions Effective?

      Melesse Tashu

    • China’s Spillovers to Peru: Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy

      Fei Han and Juan Alonso Peschiera Perez-Salmon

    Suriname

    • Constructing A High-Frequency Economic Growth Indicator for Suriname

      Jochen Schmittmann

    • Suriname’s Exposure to Gold Price Fluctuations

      Qiaoe Chen, Daniel Kanda, Mario Mansilla, and Jochen Schmittmann

    • Monetary and Financial System of Suriname

      Qiaoe Chen

    • The Labor Market in Suriname

      Qiaoe Chen, Daniel Kanda, Mario Mansilla, and Jochen Schmittmann

    • Fiscal Sustainability and Natural Resource Wealth for Suriname

      Mario Mansilla and Daniel Kanda

    United States

    • The U.S. Manufacturing Recovery: Uptick or Renaissance?

      Oya Celasun, Gabriel Di Bella, Tim Mahedy, and Chris Papageorgiou

    • Macroeconomic Implications of the U.S. Energy Boom

      Ben Hunt, Martin Sommer, Gabriel Di Bella, Madelyn Estrada, Akito Matsumoto, and Dirk Muir

    • Risky Business: The Uncertainty in U.S. Health Care Spending

      Deniz Igan, Kenichiro Kashiwase, and Baoping Shang

    • Are U.S. Small Businesses Credit Constrained?

      Francesco Columba

    • Exiting From Unconvential Monetary Policy: Potential Challenges and Risks

      Rebecca McCaughrin and Tao Wu

    Uruguay

    • Why are Inflation and Inflation Expectations Above Target in Uruguay?

      Camilo Tovar

    • FDI in Uruguay: Recent Trends and Determinants

      Camila Perez and Natalia Melgar

    • Agricultural Land Prices—A Channel in the Transmission of Global Commodity Price Shocks on Economic Activity

      Juan F. Yépez

    • Competitiveness Trends in Uruguay

      Garth P. Nicholls

    • Fiscal Policy and Inflation in Uruguay: Exploring the Nexus

      Camilo E. Tovar

    • The Fiscal Regime for Large-Scale Mining in Uruguay

      Victor Kitange

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