Journal Issue

IMF Working Papers

International Monetary Fund. Research Dept.
Published Date:
September 2010
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IMF Working Papers

No. 10/82

Price Setting in a Model with Production Chains: Evidence from Sectoral Data

Shamloo, Maral

No. 10/83

Credit Conditions and Recoveries from Recessions Associated with Financial Crises

Kannan, Prakash

No. 10/84

Inflation Expectations and Monetary Policy in India: An Empirical Exploration

Debabrata Patra, Michael; Ray, Partha

No. 10/85

Monetary Policy Committees, Learning, and Communication

Weber, Anke

No. 10/86

The Embodiment of Intangible Investment Goods: A Q-Theory Approach

Belhocine, Nazim

No. 10/87

The GCC Banking Sector: Topography and Analysis

Al-Hassan, Abdullah; Khamis, May Y.; Oulidi, Nada

No. 10/88

Foreign Participation in Emerging Markets’ Local Currency Bond Markets

Peiris, Shanaka J.

No. 10/89

Russia’s Output Collapse and Recovery: Evidence from the Post-Soviet Transition

Kvintradze, Eteri

No. 10/90

Regional Financial Integration in the GCC

Espinoza, Raphael A.; Prasad, Ananthakrishnan; Williams, Oral

No. 10/91

Transparency and Monetary Policy with Imperfect Common Knowledge

Roca, Mauro

No. 10/92

Beyond the Crisis: Revisiting Emerging Europe’s Growth Model

Atoyan, Ruben

No. 10/93

Determinants of China’s Private Consumption: An International Perspective

Guo, Kai; N’Diaye, Papa M’B. P.

No. 10/94

Boom-Bust Cycle, Asymmetrical Fiscal Response and the Dutch Disease

Arezki, Rabah; Ismail, Kareem

No. 10/95

Bank Efficiency Amid Foreign Entry: Evidence from the Central American Region

Wezel, Torsten

No. 10/96

Growth Convergence and Spillovers among Indian States: What Matters? What Does Not?

Kalra, Sanjay; Sodsriwiboon, Piyaporn

No. 10/97

Absorption Boom and Fiscal Stance: What Lies Ahead in Eastern Europe?

Rahman, Jesmin

No. 10/98

Regulatory Capital Charges for Too-Connected-to-Fail Institutions: A Practical Proposal

Chan-Lau, Jorge A.

No. 10/99

Collateral, Netting and Systemic Risk in the OTC Derivatives Market

Singh, Manmohan

No. 10/100

Quantitative Properties of Sovereign Default Models: Solution Methods Matter

Hatchondo, Juan Carlos; Martinez, Leonardo; Sapriza, Horacio

No. 10/101

Development Accounting and the Rise of TFP

Arezki, Rabah; Cherif, Reda

No. 10/102

The Global Credit Crunch and Foreign Banks’ Lending to Emerging Markets: Why Did Latin America Fare Better?

Kamil, Herman; Rai, Kulwant

No. 10/103

The Structural Manifestation of the “Dutch Disease”: The Case of Oil-Exporting Countries

Ismail, Kareem

No. 10/104

House Price Determinants in Selected Countries of the Former Soviet Union

Stepanyan, Vahram; Poghosyan, Tigran; Bibolov, Aidyn

No. 10/105

Cross-Border Financial Surveillance: A Network Perspective

Espinosa-Vega, Marco; Sole, Juan

No. 10/106

Implementing Official Dollarization

Jácome, Luis Ignacio; Lönnberg, Åke

No. 10/107

Balance Sheet Network Analysis of Too-Connected-to-Fail Risk in Global and Domestic Banking Systems

Chan-Lau, Jorge A.

No. 10/108

The Global Financial Crisis and its Impact on the Chilean Banking System

Chan-Lau, Jorge A.

No. 10/109

Power Laws in Firm Size and Openness to Trade: Measurement and Implications

di Giovanni, Julian; Levchenko, Andrei A.; Ranciere, Romain

No. 10/110

Public Investment as a Fiscal Stimulus: Evidence from Japan’s Regional Spending During the 1990s

Bruckner, Markus; Tuladhar, Anita

No. 10/111

Fiscal Policy and Macroeconomic Stability: Automatic Stabilizers Work, Always and Everywhere

Debrun, Xavier; Kapoor, Radhicka

No. 10/112

Equity and Fiscal Policy: The Income Distribution Effects of Taxation and Social Spending in Central America

Cubero, Rodrigo; Hollar, Ivanna Vladkova

No. 10/113

Important Elements for Inflation Targeting for Emerging Economies

Freedman, Charles; Ötker, Inci

No. 10/114

Managing the Exit: Lessons from Japan’s Reversal of Unconventional Monetary Policy

Syed, Murtaza H.; Yamaoka, Hiromi

No. 10/115

Short-Versus Long-Term Credit and Economic Performance: Evidence from the WAEMU

Kpodar, Kangni; Gbenyo, Kodzo

No. 10/116

Oil Windfalls in Ghana: A DSGE Approach

Dagher, Jihad; Gottschalk, Jan; Portillo, Rafael

No. 10/117

Determinants of Investment Grade Status in Emerging Markets

Jaramillo, Laura

No. 10/118

The Linkage between the Oil and Non-oil Sectors--A Panel VAR Approach

Klein, Nir

No. 10/119

ASEAN: A Chronicle of Shifting Trade Exposure and Regional Integration

Kalra, Sanjay

No. 10/120

Sovereign Spreads: Global Risk Aversion, Contagion or Fundamentals?

Caceres, Carlos; Guzzo, Vincenzo; Segoviano Basurto, Miguel A.

No. 10/121

Fiscal Policy and the Current Account

Abbas, S. M. Ali; Bouhga-Hagbe, Jacques; Fatas, Antonio J.; Mauro, Paolo; Velloso, Ricardo

No. 10/122

Recoveries in the Middle East, North Africa, and Pakistan: Have Macroeconomic Policies Been Effective?

Hakura, Dalia; Grigoli, Francesco

No. 10/123

Fiscal Stimulus and Credibility in Emerging Countries

Kandil, Magda E.; Morsy, Hanan

No. 10/124

International Transmission of Bank and Corporate Distress Chen, Qianying; Gray, Dale F.; N’Diaye, Papa M’B.P.; Oura, Hiroko; Tamirisa, Natalia T.

No. 10/125

Dynamic Loan Loss Provisions in Uruguay: Properties, Shock Absorption Capacity and Simulations Using Alternative Formulas

Wezel, Torsten

No. 10/126

Mining Taxation: An Application to Mali

Thomas, Saji

No. 10/127

Potential Growth of Australia and New Zealand in the Aftermath of the Global Crisis

Sun, Yan

No. 10/128

The Potential Contribution of Fiscal Policy to Rebalancing and Growth in New Zealand

Schule, Werner

No. 10/129

What Explains the Rise in Food Price Volatility?

Roache, Shaun K.

No. 10/130

The Credit Boom in the EU New Member States: Bad Luck or Bad Policies?

Bakker, Bas Berend; Gulde, Anne Marie

No. 10/131

U.S. Bank Behavior in the Wake of the 2007-2009 Financial Crisis

Barajas, Adolfo; Chami, Ralph; Cosimano, Thomas F.; Hakura,


No. 10/132

FDI Flows to Low-Income Countries: Global Drivers and Growth Implications

Dabla-Norris, Era; Honda, Jiro; Lahréche-Révil, Amina; Verdier, Geneviéve

No. 10/133

How Expensive is Norway? New International Relative Price Measures

Tulin, Volodymyr; Krajnyák, Kornélia

No. 10/134

On the Optimal Adherence to Money Targets in a New-Keynesian Framework: An Application to Low-Income Countries

Berg, Andrew; Portillo, Rafael; Unsal, D. Filiz

No. 10/135

Commodity Prices and Inflation in the Middle East, North Africa, and Central Asia

Crowley, Joseph

No. 10/136

Banking Efficiency and Financial Development in Sub-Saharan Africa

Kablan, Sandrine

No. 10/137

In Search of Lost Revenue: Why Restoring Fiscal Soundness after a Crisis Is Harder than It Looks

Miyazaki, Masato

No. 10/138

Tax Revenue Downturns: Anatomy and Links to Imports

Li, Kun; Lopez Murphy, Pablo

No. 10/139

Current Account Imbalances in the Southern Euro Area

Jaumotte, Florence; Sodsriwiboon, Piyaporn

No. 10/140

Beyond Aid: How Much Should African Countries Pay to Borrow?

Gueye, Cheikh A.; Sy, Amadou N. R.

No. 10/141

Fire Sales and the Financial Accelerator

Choi, Woon Gyu; Cook, David

No. 10/142

Demand Spillovers and the Collapse of Trade in the Global Recession

Bems, Rudolfs; Johnson, Robert C.; Yi, Kei-Mu

No. 10/143

Treasury Single Account: Concept, Design, and Implementation Issues

Pattanayak, Sailendra; Fainboim Yaker, Israel

No. 10/144

Inflation Dynamics in Yemen: An Empirical Analysis

Almounsor, Abdullah

No. 10/145

Can You Map Global Financial Stability?

Dattels, Peter; McCaughrin, Rebecca; Miyajima, Ken; Puig, Jaume

No. 10/146

Resolution of Banking Crises: The Good, the Bad, and the


Laeven, Luc; Valencia, Fabian

No. 10/147

Subnational Health Spending and Soft Budget Constraints in OECD Countries

Crivelli, Ernesto; Leive, Adam; Stratmann, Thomas No. 10/148

Balance Sheet Vulnerabilities of Mauritius During a Decade of Shocks

Imam, Patrick A.; Koehler, Rainer

No. 10/149

Vietnam: Bayesian Estimation of Output Gap

Maliszewski, Wojciech

No. 10/150

Procyclicality in Central Bank Reserve Management: Evidence from the Crisis

Pihlman, Jukka; van der Hoorn, Han

No. 10/151

Currency Hedging for International Portfolios

Schmittmann, Jochen M.

No. 10/152

Monetary Policy Analysis and Forecasting in the Group of Twenty: A Panel Unobserved Components Approach

Vitek, Francis

No. 10/153

The Fundamental Determinants of Credit Default Risk for European Large Complex Financial Institutions

Ötker, Inci; Podpiera, Jiri

No. 10/154

The Impact of Capital and Foreign Exchange Flows on the Competitiveness of Developing Countries

Bakardzhieva, Damyana; Ben Naceur, Sami; Kamar, Bassem

No. 10/155

Automatic Stabilizers and the Size of Government: Correcting a Common Misunderstanding

Cottarelli, Carlo; Fedelino, Annalisa

No. 10/156

Of Runes and Sagas: Perspectives on Liquidity Stress Testing Using an Iceland Example

Ong, Li L.; Cihák, Martin

No. 10/157

Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa

Debrun, Xavier; Masson, Paul R.; Pattillo, Catherine A.

No. 10/158

External Finance, Sudden Stops, and Financial Crisis: What is Different This Time?

Gulcin Ozkan, F.; Unsal, D. Filiz

No. 10/159

Inflation and Conflict in Iraq: The Economics of Shortages Revisited

Grigorian, David A.; Kock, Udo

No. 10/160

The Macroeconomics of Medium-Term Aid Scaling-Up Scenarios

Berg, Andrew; Gottschalk, Jan; Portillo, Rafael; Zanna, Luis-Felipe

No. 10/161

World Food Prices and Monetary Policy

Catáo, Luis; Chang, Roberto

No. 10/162

Exchange Rate Assessment for Sub-Saharan Economies

Aydin, Burcu

No. 10/163

Budget Consolidation: Short-Term Pain and Long-Term Gain

Clinton, Kevin; Kumhof, Michael; Laxton, Douglas; Mursula, Susanna

No. 10/164

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis

Boz, Emine; Mendoza, Enrique G.

No. 10/165

China’s Economic Growth: International Spillovers

Arora, Vivek B.; Vamvakidis, Athanasios

No. 10/166

How Do International Financial Flows to Developing Countries Respond to Natural Disasters?

David, Antonio

No. 10/167

Local Housing Market Cycle and Loss Given Default: Evidence from Sub-Prime Residential Mortgages

Zhang, Yanan; Ji, Lu; Liu, Fei

No. 10/168

Does Procyclical Fiscal Policy Reinforce Incentives to Dollarize Sovereign Debt?

Guscina, Anastasia; Ilyina, Anna; Kamil, Herman

No. 10/169

Peru: Drivers of De-dollarization

Garcia-Escribano, Mercedes

No. 10/170

The Dark Side of Bank Wholesale Funding

Huang, Rocco; Ratnovski, Lev

No. 10/171

The Cross-Country Incidence of the Global Crisis

Lane, Philip R.; Milesi-Ferretti, Gian Maria

No. 10/172

The (Sizable) Role of Rehypothecation in the Shadow Banking System

Singh, Manmohan; Aitken, James

No. 10/173

Democracy and Reforms: Evidence from a New Dataset

Giuliano, Paola; Mishra, Prachi; Spilimbergo, Antonio

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