Journal Issue

IMF Working Papers

International Monetary Fund. Research Dept.
Published Date:
December 2011
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Working Paper No. 11/184

Customs Administration Reform and Modernization in Anglophone Africa—Early 1990s to Mid-2010

Zake, Justin O.

Working Paper No. 11/185

Taxing Financial Transactions: An Assessment of Administrative Feasibility

Brondolo, John

Working Paper No. 11/186

The Bright and the Dark Side of Cross-Border Banking Linkages

Cihák, Martin; Muñoz, Sònia; Scuzzarella, Ryan

Working Paper No. 11/187

Possible Unintended Consequences of Basel III and Solvency II

Al-Darwish, Ahmed I.; Hafeman, Michael; Impavido, Gregorio; Kemp, Malcolm; O’Malley, Padraic

Working Paper No. 11/188

Capital Regulation and Tail Risk

Perotti, Enrico; Ratnovski, Lev; Vlahu, Razvan

Working Paper No. 11/189

Capital Flows and Financial Stability: Monetary Policy and Macroprudential Responses

Unsal, D. Filiz

Working Paper No. 11/190

Institutional Cash Pools and the Triffin Dilemma of the U.S. Banking System

Pozsar, Zoltan

Working Paper No. 11/191

Home Sweet Home: Government’s Role in Reaching the American Dream

Tsounta, Evridiki

Working Paper No. 11/192

Economic Policies and FDI Inflows to Emerging Market Economies

Arbatli, Elif

Working Paper No. 11/193

Systemic Risk and Optimal Regulatory Architecture

Espinosa-Vega, Marco A.; Kahn, Charles; Matta, Rafael; Sole, Juan

Working Paper No. 11/194

Oil Shocks in a Global Perspective: Are They Really Tat Bad?

Rasmussen, Tobias N.; Roitman, Agustin

Working Paper No. 11/195

Are Middle Eastern Current Account Imbalances Excessive?

Beidas-Strom, Samya; Cashin, Paul

Working Paper No. 11/196

Financial Deepening, Property Rights and Poverty: Evidence from Sub-Saharan Africa

Singh, Raju Jan; Huang, Yifei

Working Paper No. 11/197

External Adjustment and the Global Crisis

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

Working Paper No. 11/198

De Jure versus De Facto Exchange Rate Regimes in Sub-Saharan Africa

Slavov, Slavi T.

Working Paper No. 11/199

Shocks, Financial Dependence, and Efficiency: Evidence from U.S. and Canadian Industries

Estevão, Marcello M.; Severo, Tiago

Working Paper No. 11/200

Remittances in Pakistan—Why Have They Gone Up, and Why Aren’t They Coming Down?

Kock, Udo; Sun, Yan

Working Paper No. 11/201

Financial Linkages across Korean Banks

Aydin, Burcu; Kim, Myeong-Suk; Moon, Ho-Seong

Working Paper No. 11/202

Burkina Faso—Policies to Protect the Poor from the Impact of Food and Energy Price Increases

Arze del Granado, Javier; Adenauer, Isabell

Working Paper No. 11/203

Public Debt Targeting: An Application to the Caribbean

Guerson, Alejandro D.; Melina, Giovanni

Working Paper No. 11/204

South Africa: The Cyclical Behavior of the Markups and Its Implications for Monetary Policy

Klein, Nir

Working Paper No. 11/205

The Cyclicality of Fiscal Policies in the CEMAC Region

Mpatswe, Gaston K.; Tapsoba, Sampawende J.; York, Robert C.

Working Paper No. 11/206

The Taxation and Regulation of Banks

Keen, Michael

Working Paper No. 11/207

External Sustainability of Oil-Producing Sub-Saharan African Countries

Takebe, Misa; York, Robert C.

Working Paper No. 11/208

Global Economic Governance: IMF Quota Reform

Virmani, Arvind

Working Paper No. 11/209

Communication of Central Bank Thinking and Inflation Dynamics

Tang, Man-Keung; Yu, Xiangrong

Working Paper No. 11/210

Public Debt in Advanced Economies and Its Spillover Effects on Long-Term Yields

Alper, Emre; Forni, Lorenzo

Working Paper No. 11/211

Do Fiscal Spillovers Matter?

Ivanova, Anna; Weber, Sebastian

Working Paper No. 11/212

Apocalypse Then: The Evolution of the North Atlantic Economy and the Global Crisis

Bayoumi, Tamim; Bui, Trung

Working Paper No. 11/213

Market Phoenixes and Banking Ducks: Are Recoveries Faster in Market-Based Financial Systems?

Allard, Julien; Blavy, Rodolphe

Working Paper No. 11/214

Assessing Systemic Trade Interconnectedness—An Empirical Approach

Errico, Luca; Massara, Alexander

Working Paper No. 11/215

What Fuels the Boom Drives the Bust: Regulation and the Mortgage Crisis

Dagher, Jihad; Fu, Ning

Working Paper No. 11/216

Data-Rich DSGE and Dynamic Factor Models

Kryshko, Maxym

Working Paper No. 11/217

Effciency-Adjusted Public Capital and Growth

Gupta, Sanjeev; Kangur, Alvar; Papageorgiou, Chris; Wane, Abdoul Aziz

Working Paper No. 11/218

Growth Spillover Dynamics from Crisis to Recovery

Poirson, Hélène; Weber, Sebastian

Working Paper No. 11/219

Bayesian Dynamic Factor Analysis of a Simple Monetary DSGE Model

Kryshko, Maxym

Working Paper No. 11/220

A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic

Bannister, Geofrey J.; Barrot, Luis-Diego

Working Paper No. 11/221

Spatial Spillovers in Emerging Market Spreads

Baldacci, Emanuele; Dell’Erba, Salvatore; Poghosyan, Tigran

Working Paper No. 11/222

Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data Are Needed?

Cerutti, Eugenio; Claessens, Stijn; McGuire, Patrick

Working Paper No. 11/223

Targets, Interest Rates, and Household Saving in Urban China

Nabar, Malhar

Working Paper No. 11/224

Incorporating Financial Stability in Inflation Targeting Frameworks

Aydin, Burcu; Volkan, Engin

Working Paper No. 11/225

Understanding Chinese Bond Yields and Their Role in Monetary Policy

Cassola, Nuno; Porter, Nathan

Working Paper No. 11/226

Decentralizing Spending More Tan Revenue: Does It Hurt Fiscal Performance?

Eyraud, Luc; Lusinyan, Lusine

Working Paper No. 11/227

Did the Euro Crisis Affect Non-Financial Firm Stock Prices through a Financial or Trade Channel?

Claessens, Stijn; Tong, Hui; Zuccardi, Igor

Working Paper No. 11/228

Incorporating Financial Sector Risk into Monetary Policy Models: Application to Chile

Gray, Dale F.; Garcia, Carlos; Luna, Leonardo; Restrepo, Jorge

Working Paper No. 11/229

Inflation Targeting and Monetary Policy Transmission Mechanisms in Emerging Market Economies

Mukherjee, Sanchita; Bhattacharya, Rina

Working Paper No. 11/230

Limited Information Bayesian Model Averaging for Dynamic Panels with an Application to a Trade Gravity Model

Chen, Huigang; Mirestean, Alin; Tsangarides, Charalambos G.

Working Paper No. 11/231

How Long Do Housing Cycles Last? A Duration Analysis for 19 OECD Countries

Bracke, Philippe

Working Paper No. 11/232

Inflation Dynamics in the CEMAC Region

Caceres, Carlos; Poplawski-Ribeiro, Marcos; Tartari, Darlena

Working Paper No. 11/233

Determinants of Non-Oil Growth in the CFA-Zone Oil Producing Countries: How Do They Differ?

Tabova, Alexandra; Baker, Carol L.

Working Paper No. 11/234

Global Poverty Estimates: A Sensitivity Analysis

Dhongde, Shatakshee; Minoiu, Camelia

Working Paper No. 11/235

Predicting Recessions: A New Approach for Identifying Leading Indicators and Forecast Combinations

Baba, Chikako; Kisinbay, Turgut

Working Paper No. 11/236

Making Banks Safer: Can Volcker and Vickers Do It?

Chow, Julian T. S.; Surti, Jay

Working Paper No. 11/237

Does G-4 Liquidity Spill Over?

Psalida, L. Effie; Sun, Tao

Working Paper No. 11/238

Macroprudential Policy: What Instruments and How to Use Them? Lessons from Country Experiences

Lim, Cheng Hoon; Columba, Francesco; Costa, Alejo; Kongsamut, Piyabha; Otani, Akira; Saiyid, Mustafa; Wezel, Torsten; Wu, Xiaoyong

Working Paper No. 11/239

Global Rebalancing: Implications for Low-Income Countries

Yang, Yongzheng

Working Paper No. 11/240

The Policy Interest-Rate Pass-Trough in Central America

Medina Cas, Stephanie; Carrion-Menendez, Alejandro; Frantischek, Florencia P.

Working Paper No. 11/241

Rapid Credit Growth: Boon or Boom-Bust?

Elekdag, Selim; Wu, Yiqun

Working Paper No. 11/242

Risk Sharing and Financial Contagion in Asia: An Asset Price Perspective

Rungcharoenkitkul, Phurichai

Working Paper No. 11/243

Financial Integration and Rebalancing in Asia

Pongsaparn, Runchana; Unteroberdoerster, Olaf

Working Paper No. 11/244

Monetary Policy, Bank Leverage, and Financial Stability

Valencia, Fabian

Working Paper No. 11/245

Improving the Monetary Policy Frameworks in Central America

Medina Cas, Stephanie; Carrion-Menendez, Alejandro; Frantischek, Florencia P.

Working Paper No. 11/246

Do Remittances Reduce Aid Dependency?

Kpodar, Kangni; Le Gof, Maelan

Working Paper No. 11/247

An Assessment of Estimates of Term Structure Models for the United States

He, Ying; Medeiros, Carlos I.

Working Paper No. 11/248

The Role of Structural Reforms in Raising Economic Growth in Central America

Swiston, Andrew; Barrot, Luis-Diego

Working Paper No. 11/249

Optimal Precautionary Reserves for Low-Income Countries: A Cost-Benefit Analysis

Dabla-Norris, Era; Kim, Jun Il; Shirono, Kazuko

Working Paper No. 11/250

Towards Effective Macroprudential Policy Frameworks: An Assessment of Stylized Institutional Models

Nier, Erlend; Osinski, Jacek; Jácome, Luis Ignacio; Madrid, Pamela

Working Paper No. 11/251

What Drives the Global Land Rush?

Arezki, Rabah; Deininger, Klaus; Selod, Harris

Working Paper No. 11/252

Unemployment in Latin America and the Caribbean

Ball, Laurence M.; De Roux, Nicolas; Hofstetter, Marc

Working Paper No. 11/253

Precautionary Savings in a Small Open Economy Revisited

Roitman, Agustin

Working Paper No. 11/254

Do Commodity Futures Help Forecast Spot Prices?

Reichsfeld, David A.; Roache, Shaun K.

Working Paper No. 11/255

Determinants of Development Financing Flows from Brazil, Russia, India, and China to Low-Income Countries

Mwase, Nkunde

Working Paper No. 11/256

Velocity of Pledged Collateral: Analysis and Implications

Singh, Manmohan

Working Paper No. 11/257

Inflation Dynamics in Asia: Causes, Changes, and Spillovers from China

Osorio, Carolina; Unsal, D. Filiz

Working Paper No. 11/258

Can Emerging Market Central Banks Bail Out Banks? A Cautionary Tale from Latin America

Jácome, Luis Ignacio; Saadi Sedik, Tahsin; Townsend, Simon

Working Paper No. 11/259

Monetary Policy and Risk-Premium Shocks in Hungary: Results from a Large Bayesian VAR

Carare, Alina; Popescu, Adina

Working Paper No. 11/260

The Puzzle of Persistently Negative Interest Rate-Growth Differentials: Financial Repression or Income Catch-Up?

Escolano, Julio; Shabunina, Anna; Woo, Jaejoon

Working Paper No. 11/261

Te Economic Crisis: Did Financial Supervision Matter?

Masciandaro, Donato; Vega Pansini, Rosaria; Quintyn, Marc

Working Paper No. 11/262

A Theory of Domestic and International Trade Finance

Ahn, JaeBin

Working Paper No. 11/263

Modeling Correlated Systemic Liquidity and Solvency Risks in a Financial Environment with Incomplete Information

Schumacher, Liliana; Barnhill, Theodore M.

Working Paper No. 11/264

Bank of Japan’s Monetary Easing Measures: Are They Powerful and Comprehensive?

Lam, W. Raphael

Working Paper No. 11/265

The Problem That Wasn’t: Coordination Failures in Sovereign Debt Restructurings

Bi, Ran; Chamon, Marcos; Zettelmeyer, Jeromin

Working Paper No. 11/266

The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland

Basdevant, Olivier; Benicio, Dalmacio; Mircheva, Borislava; Mongardini, Joannes; Verdier, Geneviéve; Yang, Susan; Zanna, Luis-Felipe

Working Paper No. 11/267

Low-Income Countries’ BRIC Linkage: Are There Growth Spillovers?

Samaké, Issouf; Yang, Yongzheng

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