Journal Issue

IMF Working Papers

International Monetary Fund. Research Dept.
Published Date:
March 2006
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No. 05/198

“International Reserves: Precautionary vs. Mercantilist Views, Theory, and Evidence”

Aizenman, Joshua; Lee, Jaewoo

No. 05/199

“Robbing the Riches: Capital Flight, Institutions, and Instability”

Cerra, Valerie; Rishi, Meenakshi; Saxena, Sweta Chaman

No. 05/200

“Boom-Bust Cycles in Housing: The Changing Role of Financial Structure”

Schnure, Calvin

No. 05/201

“Debt Maturity, Risk, and Asymmetric Information”

Espinosa-Vega, Marco; Miller, Nathan H.; Frame, W. Scott; Berger, Allen N.

No. 05/202

“Estimating China’s ‘Equilibrium’ Real Exchange Rate”

Li, Xiangming; Dunaway, Steven Vincent

No. 05/203

“Revenue Administration Reform in Middle Eastern Countries, 1994–2004”

Crandall, William; Bodin, Jean-Paul

No. 05/204

“Can the Standard International Business Cycle Model Explain the Relation Between Trade and Comovement?”

Kose, M. Ayhan; Yi, Kei-Mu

No. 05/205

“The Role of Domestic and Foreign Investors in a Simple Model of Speculative Attacks”

Botman, Dennis P. J.; Diks, Cees G. H.

No. 05/206

“Strengthening IMF Crisis Prevention”

Ostry, Jonathan David; Zettelmeyer, Jeromin

No. 05/207

“The Perils of Tax Smoothing: Sustainable Fiscal Policy with Random Shocks to Permanent Output”

Tanner, Evan; Carey, Kevin Joseph

No. 05/208

“Macroeconomic Effects of Social Security and Tax Reform in the United States”

Bayoumi, Tamim A.; Botman, Dennis P. J.; Kumar, Manmohan S.

No. 05/209

“The Domestic and Global Impact of Japan’s Policies for Growth”

Batini, Nicoletta; Rebucci, Alessandro; N’Diaye, Papa

No. 05/210

“Does Performance Budgeting Work? An Analytical Review of the Empirical Literature”

Robinson, Marc; Brumby, Jim

No. 05/211

“Understanding the Evolution of World Business Cycles”

Kose, M. Ayhan; Otrok, Christopher; Whiteman, Charles H.

No. 05/212

“Financial Globalization and Fiscal Performance in Emerging Markets”

Hauner, David; Kumar, Manmohan S.

No. 05/213

“Capital Account Liberalization, Capital Flow Patterns, and Policy Responses in the EU’s New Member States”

Arvai, Zsofia

No. 05/214

“The Impact on India of Trade Liberalization in the Textiles and Clothing Sector”

Jain-Chandra, Sonali; Prasad, A.

No. 05/215

“Oil Price Shocks: Can They Account for the Stagflation in the 1970s?”

Hunt, Ben

No. 05/216

“Pricing Growth-Indexed Bonds”

Chamon, Marcos; Mauro, Paolo

No. 05/217

“How Important Is Sovereign Risk in Determining Corporate Default Premia? The Case of South Africa”

Peter, Marcel; Grandes, Martin

No. 05/218

“VAT Refunds: A Review of Country Experience”

Harrison, Graham; Krelove, Russell

No. 05/219

“Estimating Markov Transition Matrices Using Proportions Data: An Application to Credit Risk”

Jones, Matthew T.

No. 05/220

“Barriers to Capital Accumulation and the Incidence of Child Labor”

Barnett, Richard C.; Espinosa-Vega, Marco

No. 05/221

“Fiscal Dominance and Inflation in the Democratic Republic of the Congo”

Nachega, Jean-Claude

No. 05/222

“Monitoring and Commitment in Bank Lending Behavior”

Blavy, Rodolphe

No. 05/223

“Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link”

Cordella, Tito; Ricci, Luca Antonio; Ruiz-Arranz, Marta

No. 05/224

“Macroeconomic Determinants of Remittances: Evidence from India”

Gupta, Poonam

No. 05/225

“Fiscal Transparency and Economic Outcomes”

Hameed, Farhan

No. 05/226

“Assessing Debt Sustainability in Emerging Market Economies Using Stochastic Simulation Methods”

Hostland, Doug; Karam, Philippe D.

No. 05/227

“Labor and Product Market Deregulation: Partial, Sequential, or Simultaneous Reform?”

Berger, Helge; Danninger, Stephan

No. 05/228

“Long-Run Productivity Shifts and Cyclical Fluctuations: Evidence for Italy”

Sgherri, Silvia

No. 05/229

“A Fair Exchange? Theory and Practice of Calculating Equilibrium Exchange Rates”

Bayoumi, Tamim A.; Faruqee, Hamid; Lee, Jaewoo

No. 05/230

“Financial Sector Conditionality: Is Tougher Better?”

Giustiniani, Alessandro; Kronenberg, Roger P.

No. 05/231

“The END: A New Indicator of Financial and Nonfinancial Corporate Sector Vulnerability”

Chan-Lau, Jorge A.; Gravelle, Toni

No. 05/232

“FIRST: A Market-Based Approach to Evaluate Financial System Risk and Stability”

Avesani, Renzo

No. 05/233

“Real Exchange Rates in Growing Economies: How Strong Is the Role of the Nontradables Sector?”

Miyajima, Ken

No. 05/234

“Remittances, Financial Development, and Growth”

Giuliano, Paola; Ruiz-Arranz, Marta

No. 05/235

“Emergence of the Gulf of Guinea in the Global Economy: Prospects and Challenges”

Ondo Mañe, Damian

No. 05/236

“Money Demand and Inflation in Madagascar”

Nassar, Koffie

No. 05/237

Fiscal Policy and Business Cycles in an Oil-Producing Economy: The Case of Venezuela

Baldini, Alfredo

No. 05/238

Service Offshoring, Productivity, and Employment: Evidence from the United States

Amiti, Mary; Wei, Shang-Jin

No. 05/239

“How Tight Is Too Tight? A Look at Welfare Implications of Distortionary Policies in Uzbekistan”

Gemayel, Edward R.; Grigorian, David A.

No. 05/240

“Bank Efficiency and Competition in Low-Income Countries: The Case of Uganda”

Hauner, David; Peiris, Shanaka J.

No. 05/241

“Measuring the Performance of Fiscal Policy in Russia”

Spilimbergo, Antonio

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International Monetary Fund

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No. 06/1

“Are Donor Countries Giving More or Less Aid?”

Gupta, Sanjeev; Pattillo, Catherine A.; Wagh, Smita

No. 06/2

“The Macroeconomics of Remittances: The Case of Tajikistan”

Kireyev, Alexei

No. 06/3

“How Does Trade Openness Influence Budget Deficits in Developing Countries?”

Combes, Jean-Louis; Saadi-Sedik, Tahsin

No. 06/04

“Seasonalities in China’s Stock Markets: Cultural or Structural?”

Mitchell, Jason D.; Ong, Li L.

No. 06/5

“Sectoral Balance Mismatches and Macroeconomic Vulnerabilities in Colombia, 1996–2003”

Lima, Juan Manuel; Montes, Enrique; Varela, Carlos; Wiegand, Johannes

No. 06/6

“American in the Shadows: Harry Dexter White and the Design of the International Monetary Fund”

Boughton, James M.

No. 06/7

“Financial Dollarization in Latin America”

Rennhack, Robert; Nozaki, Masahiro

No. 06/8

“Harmonization of Domestic Consumption Taxes in Central and Western African Countries”

Doe, Lubin Kobla

No. 06/9

“The Global Impact of Demographic Change”

Batini, Nicoletta; Callen, Tim; McKibbin, Warwick J.

IMF Working Papers and other IMF publications can be downloaded in full-text format from the “Research at the IMF” website at

Visiting Scholars, October 2005–February 2006

Steve Bond; Oxford College; 10/11/05–10/12/05

Santanu Chatterjee; University of Georgia; 11/7/05–11/11/05

Marvin Goodfriend; Federal Reserve Bank of Richmond; 10/3/05–10/21/05

Marvin Goodfriend; Federal Reserve Bank of Richmond; 12/14/05–12/20/05

Hideaki Hirata; Hosei University, Japan; 12/27/05–1/4/06

Jiandong Ju; University of Oklahoma; 10/24/05–10/28/05

Michael Kremer; Harvard University; 12/12/05–12/16/05

Michael Kremer; Harvard University; 12/27/05–12/30/05

Douglas Russell Nelson; Tulane University; 9/28/05–12/23/05

Pedro Oviedo; Iowa State University; 11/7/05–11/11/05

Hashem Pesaran; Cambridge University; 11/28/05–2/28/06

Sergio Santoro; Bank of Italy; 11/7/05–12/2/05

Guido Tabellini; IGIER-Universita Bocconi, Italy; 10/31/05–11/2/05

Mathias Thoenig; University of Geneva; 10/31/05–11/11/05

Longyue Zhao; Georgetown University; 10/24/05–12/2/05

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