Journal Issue

IMF Working Papers

International Monetary Fund. Research Dept.
Published Date:
September 2013
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Working Paper 13/98

Understanding DSGE Filters in Forecasting and Policy Analysis

Andrle, Michal

Working Paper 13/99

Survey of Reserve Managers: Lessons from the Crisis

Morahan, Aideen; Mulder, Christian

Working Paper 13/100

Measuring Competitiveness: Trade in Goods or Tasks?

Bayoumi, Tamim; Saito, Mika; Turunen, Jarkko

Working Paper 13/101

The Impact of Foreign Bank Deleveraging on Korea

Jain-Chandra, Sonali; Kim, Min Jung; Park, Sung Ho; Shin, Jerome

Working Paper 13/102

Balance Sheet Strength and Bank Lending During the Global Financial Crisis

Kapan, Tümer; Minoiu, Camelia

Working Paper 13/103

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

Adler, Gustavo; Magud, Nicolas

Working Paper 13/104

The Pacific Speed of Growth: How Fast Can It Be and What Determines It?

Yang, Yongzheng; Chen, Hong; Singh, Shiu Raj; Singh, Baljeet

Working Paper 13/105

What Is in Your Output Gap? Unified Framework and Decomposition into Observables

Andrle, Michal

Working Paper 13/106

Credit Growth in Latin America: Financial Development or Credit Boom?

Hansen, Niels-Jakob Harbo; Sulla, Olga

Working Paper 13/107

Capital Account Policies in Chile Macrofinancial Considerations Along the Path to Liberalization

Carriere-Swallow, Yan; Garcia-Silva, Pablo

Working Paper 13/108

Export Quality in Developing Countries

Henn, Christian; Papageorgiou, Chris; Spatafora, Nicola

Working Paper 13/109

Is the Growth Momentum in Latin America Sustainable?

Sosa, Sebastian; Tsounta, Evridiki; Kim, Hye

Working Paper 13/110

The Welfare Implications of Services Liberalization in a Developing Country: Evidence from Tunisia

Jouini, Nizar; Rebei, Nooman

Working Paper 13/111

The Anatomy of the VAT

Keen, Michael

Working Paper 13/112

Energy Subsidies and Energy Consumption— A Cross-Country Analysis

Charap, Joshua; Ribeiro da Silva, Arthur; Rodriguez, Pedro

Working Paper 13/113

External Liabilities and Crises

Catão, Luis; Milesi-Ferretti, Gian-Maria

Working Paper 13/114

World Food Prices, the Terms of Trade-Real Exchange Rate Nexus, and Monetary Policy

Catão, Luis; Chang, Roberto

Working Paper 13/115

“Near-Coincident” Indicators of Systemic Stress

Arsov, Ivailo; Canetti, Elie; Kodres, Laura; Mitra, Srobona

Working Paper 13/116

Inclusive Growth and the Incidence of Fiscal Policy in Mauritius—Much Progress, But More Could Be Done

David, Antonio; Petri, Martin

Working Paper 13/117

Fiscal Multipliers in the ECCU

Gonzalez-Garcia, Jesus; Lemus, Antonio; Mrkaic, Mico

Working Paper 13/118

Heterogeneous Bank Lending Responses to Monetary Policy: New Evidence from a Real-Time Identification

Bluedorn, John; Bowdler, Christopher; Koch, Christoffer

Working Paper 13/119

Emerging Economy Business Cycles: Financial Integration and Terms of Trade Shocks

Rudrani Bhattacharya; Ila Patnaik; Madhavi Pundit

Working Paper 13/120

Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies

Bhattacharya, Rudrani; Patnaik, Ila

Working Paper 13/121

Financial Structures and Economic Outcomes: An Empirical Analysis

Gole, Tom; Sun, Tao

Working Paper 13/122

Foreign Investors Under Stress: Evidence from India

Patnaik, Ila; Shah, Ajay; Singh, Nirvikar

Working Paper 13/123

Are the Asia and Pacific Small States Different from Other Small States?

Tumbarello, Patrizia; Cabezon, Ezequiel; Wu, Yiqun

Working Paper 13/124

The Great Recession and the Inflation Puzzle

Matheson, Troy; Stavrev, Emil

Working Paper 13/125

That Squeezing Feeling: The Interest Burden and Public Debt Stabilization

Debrun, Xavier; Kinda, Tidiane

Working Paper 13/126

Competition Policy for Modern Banks

Ratnovski, Lev

Working Paper 13/127

Options and Strategies for Fiscal Consolidation in India

Tapsoba, Sampawende

Working Paper 13/128

The Fiscal and Welfare Impacts of Reforming Fuel Subsidies in India

Anand, Rahul; Coady, David; Mohommad, Adil; Thakoor, Vimal; Walsh, James

Working Paper 13/129

Taxing Immovable Property Revenue Potential and Implementation Challenges

Norregaard, John

Working Paper 13/130

The Finance and Growth Nexus Re-Examined: Do All Countries Benefit Equally?

Barajas, Adolfo; Chami, Ralph; Yousefi, Reza

Working Paper 13/131

Fixing the Fixings: What Road to a More Representative Money Market Benchmark?

Brousseau, V.; Chailloux, Alexandre; Durré, A.

Working Paper 13/132

The Growth Comeback in Developing Economies: A New Hope or Back to the Future?

Bluedorn, John; Duttagupta, Rupa; Guajardo, Jaime; Mwase, Nkunde

Working Paper 13/133

Afghanistan: Balancing Social and Security Spending in the Context of Shrinking Resource Envelope

Aslam, Aqib; Berkes, Enrico; Fukac, Martin; Menkulasi, Jeta; Schimmelpfennig, Axel

Working Paper 13/134

Comparing Parametric and Non-Parametric Early Warning Systems for Currency Crises in Emerging Market Economies

Comelli, Fabio

Working Paper 13/135

Inclusive Growth: Measurement and Determinants

Anand, Rahul; Mishra, Saurabh; Peiris, Shanaka

Working Paper 13/136

The Economic Effects of Fiscal Consolidation with Debt Feedback

Estevão, Marcello; Samaké, Issouf

Working Paper 13/137

Measuring the Informal Economy in the Caucasus and Central Asia

Abdih, Yasser; Medina, Leandro

Working Paper 13/138

The Macroeconomic Effects of Natural Resource Extraction: Applications to Papua New Guinea

Basu, Suman; Gottschalk, Jan; Schule, Werner; Vellodi, Nikhil; Yang, Shu-Chun

Working Paper 13/139

Inclusive Growth: An Application of the Social Opportunity Function to Selected African Countries

Adedeji, Olumuyiwa; Du, Huancheng; Opoku-Afari, Maxwell

Working Paper 13/140

The Comovement in Commodity Prices: Sources and Implications

Alquist, Ron; Coibion, Olivier

Working Paper 13/141

Fiscal Policy and Lending Relationships

Melina, Giovanni; Villa, Stefania

Working Paper 13/142

Risk Exposures and Financial Spillovers in Tranquil and Crisis Times: Bank-Level Evidence

Poirson, Hélène; Schmittmann, Jochen M.

Working Paper 13/143

Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States

Dell’Ariccia, Giovanni; Laeven, Luc; Suarez, Gustavo

Working Paper 13/144

Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries: The Case of Cameroon

Samaké, Issouf; Muthoora, Priscilla; Versailles, Bruno

Working Paper 13/145

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

Johnson, Christian

Working Paper 13/146

Does Public-Sector Employment Fully Crowd Out Private-Sector Employment?

Behar, Alberto; Mok, Junghwan

Working Paper 13/147

Investing Volatile Oil Revenues in Capital-Scarce Economies: An Application to Angola

Richmond, Christine; Yackovlev, Irene; Yang, Shu-Chun

Working Paper 13/148

Bank Funding in Central, Eastern and South Eastern Europe Post Lehman: A “New Normal”?

Impavido, Gregorio; Rudolph, Heinz; Ruggerone, Luigi

Working Paper 13/149

The Growth and Stabilization Properties of Fiscal Policy in Malaysia

Rafiq, Sohrab

Working Paper 13/150

How Do Banking Crises Affect Bilateral Exports?

Kiendrebeogo, Youssouf

Working Paper 13/151

The Distributional Effects of Fiscal Consolidation

Ball, Laurence; Furceri, Davide; Leigh, Daniel; Loungani, Prakash

Working Paper 13/152

The Elusive Quest for Inclusive Growth: Growth, Poverty, and Inequality in Asia

Ravi Balakrishnan; Chad Steinberg; Murtaza H. Syed

Working Paper 13/153

Fiscal Policy over the Election Cycle in Low-Income Countries

Christian Ebeke; Dilan Ölçer

Working Paper 13/154

Macrofinancial Implications of Corporate (De)Leveraging in the Euro Area Periphery

Manuela Goretti; Marcos Souto

Working Paper 13/155

Inflation Dynamics and Monetary Policy Transmission in Vietnam and Emerging Asia

Rina Bhattacharya

Working Paper 13/156

Country Transparency and the Global Transmission of Financial Shocks

Luís Brandão Marques; Gaston Gelos; Natalia Melgar

Working Paper 13/157

Toward a Sustainable and Inclusive Consolidation in Lithuania: Past Experience and What Is Needed Going Forward

Nan Geng

Working Paper 13/158

Monetary Policy and Balance Sheets

Deniz Igan; Alain N. Kabundi; Francisco Nadal-De Simone; Natalia T. Tamirisa

Working Paper 13/159

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Salvatore Dell’Erba; Sergio Sola

Working Paper 13/160

Basel Capital Requirements and Credit Crunch in the MENA Region

Sami Ben Naceur; Magda E. Kandil

Working Paper 13/161

Financial Depth in the WAEMU: Benchmarking Against Frontier SSA Countries

Calixte Ahokpossi; Kareem Ismail; Sudipto Karmakar; Mesmin Koulet-Vickot

Working Paper 13/162

Can a Government Enhance Long-Run Growth by Changing the Composition of Public Expenditure?

Santiago Acosta Ormaechea; Atsuyoshi Morozumi

Working Paper 13/163

Tax Coordination, Tax Competition, and Revenue Mobilization in the West African Economic and Monetary Union

Mario Mansour; Gregoire Rota Graziosi

Working Paper 13/164

Determinants of Sovereign Bond Spreads in Emerging Markets: Local Fundamentals and Global Factors vs. Ever-Changing Misalignments

Balazs Csonto; Iryna V. Ivaschenko

Working Paper 13/165

Institutional Arrangements for Macroprudential Policy in Asia

Cheng Hoon Lim; Rishi S Ramchand; Hong Wang; Xiaoyong Wu

Working Paper 13/166

The Macroprudential Framework: Policy Responsiveness and Institutional Arrangements

Cheng Hoon Lim; Ivo Krznar; Fabian Lipinsky; Akira Otani; Xiaoyong Wu

Working Paper 13/167

Evaluating the Net Benefits of Macroprudential Policy: A Cookbook

Nicolas Arregui; Jaromir Benes; Ivo Krznar; Srobona Mitra; Andre Santos

Working Paper 13/168

Systemic Risk Monitoring (“SysMo”) Toolkit—A User Guide

Nicolas R. Blancher; Srobona Mitra; Hanan Morsy; Akira Otani; Tiago Severo; Laura Valderrama

Working Paper 13/169

The Evolution of Current Account Deficits in the Euro Area Periphery and the Baltics: Many Paths to the Same Endpoint

Joong Shik Kang; Jay C. Shambaugh

Working Paper 13/170

Pressure or Prudence? Tales of Market Pressure and Fiscal Adjustment

Salvatore Dell’Erba; Todd D. Mattina; Agustin Roitman

Working Paper 13/171

What Explains Movements in the Peso/Dollar Exchange Rate?

Yi Wu

Working Paper 13/172

Bank Resolution Costs, Depositor Preference, and Asset Encumbrance

Daniel C. Hardy

Working Paper 13/173

Tax Administration Reform in the Francophone Countries of Sub-Saharan Africa

Patrick Fossat; Michel Bua

Working Paper 13/174

Sudden Stops, Time Inconsistency, and the Duration of Sovereign Debt

Juan Carlos Hatchondo; Leonardo Martinez

Working Paper 13/175

Financial Interconnectedness and Financial Sector Reforms in the Caribbean

Sumiko Ogawa; Joonkyu Park; Diva Singh; Nita Thacker

Working Paper 13/176

Benchmarking Structural Transformation Across the World

Era Dabla-Norris; Alun H. Thomas; Rodrigo Garcia-Verdu; Yingyuan Chen

Working Paper 13/177

HEAT! A Bank Health Assessment Tool

Li Lian Ong; Phakawa Jeasakul; Sarah Kwoh

Working Paper 13/178

Credibility and Crisis Stress Testing

Li Lian Ong; Ceyla Pazarbasioglu

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