Front Matter

Front Matter Page

IMF WORKING PAPER

© 1993 International Monetary Fund

This is a Working Paper and the author would welcome any comments on the present text Citations should refer to a Working Paper of the International Monetary Fund, mentioning the author, and the date of issuance. The views expressed are those of the author and do not necessarily represent those of the Fund.

WP/93/4

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International Monetary Fund

External Relations Department

Compiled by the Editorial Division

Authorized for Distribution by Shailendra J. Anjaria

January 1993

Working Paper Summaries

This compilation of summaries of Working Papers released during July-December 1992 is being issued as a part of the Working Paper series. It is designed to provide the reader with an overview of the research work performed by the staff during the period.

Authors of Working Papers are normally staff members of the Fund or consultants, although on occasion outside authors may collaborate with a staff member in writing a paper. The views expressed in the Working Papers or their summaries are, however, those of the authors and should not necessarily be interpreted as representing the views of the Fund.

Copies of individual Working Papers and information on subscriptions to the annual series of Working Papers may be obtained from IMF Publication Services, International Monetary Fund, 700 19th Street, Washington, D.C. 20431. Telephone: (202) 623-7430 Telefax: (202) 623-7201

Contents

  • WP/92/49 (July 1992)

    • by Timothy R. Muzondo

  • “Alternative Forms of Mineral Taxation, Market Failure, and the Environment”

  • WP/92/58 (July 1992)

    • Compilation of Summaries (January-June 1992)

  • WP/92/50 (July 1992)

    • by Kent Osband and Delano Villanueva

  • “Independent Currency Authorities: An Analytic Primer”

  • WP/92/51 (July 1992)

    • by Michael P. Dooley, Peter Isard, and Mark P. Taylor

  • “Exchange Rates, Country Preferences, and Gold”

  • WP/92/52 (July 1992)

    • by Joshua Greene

  • “The Sub-Saharan African Debt Problem: An Update”

  • WP/92/53 (July 1992)

    • by Matthew Odedokun

  • “MultiCountry Evidence on the Effects of Macroeconomic, Financial, and Trade Policies on Efficiency of Resource Utilization in the Developing Countries”

  • WP/91/54 (July 1992)

    • by John Pitchford

  • “Current Account Deficits, External Liabilities, and Economic Policy”

  • WP/92/55 (July 1992)

    • by Roy C. Baban and Joshua E. Greene

  • “The Export Performance of Sub-Saharan Africa, 1970-90: A Survey”

  • WP/92/56 (July 1992)

    • by Tamim A. Bayoumi and Peter B. Kenen

  • “Using an EC-Wide Monetary Aggregate in Stage Two of EMU”

  • WP/92/57 (July 1992)

    • by Michael Dooley and Mark R. Stone

  • “Endogenous Creditor Seniority and External Debt Values”

  • WP/92/59 (July 1992)

    • by E.R. Borensztein, D.G. Demekas, and J.D. Ostry

  • “The Output Decline in the Aftermath of Reform: The Case of Bulgaria, Czechoslovakia, and Romania”

  • WP/92/60 (August 1992)

    • by Pierre-Richard Agénor and Anna Lennblad

  • “Inflation and Monetary Reform”

  • WP/92/61 (August 1992)

    • by Mehdi Sadeghi

  • “Stock Market Response to Unexpected Macroeconomic News: The Australian Evidence”

  • WP/92/62 (August 1992)

    • by Guillermo A. Calvo, Leonardo Leiderman, and Carmen M. Reinhart

  • “Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors”

  • WP/92/63 (August 1992)

    • by Guy Meredith

  • “Discretionary Monetary Policy Versus Rules: The Japanese Experience During 1986-91”

  • WP/92/64 (August 1992)

    • by Guillermo A. Calvo and Fabrizio Coricelli

  • “Output Collapse in Eastern Europe: The Role of Credit”

  • WP/92/65 (August 1992)

    • by Benedict Clements and Gerd Schwartz

  • “Currency Substitution: The Recent Experience of Bolivia”

  • WP/92/66 (July 1992)

    • by Michael G. Spencer and Peter M. Garber

  • “The Dissolution of the Austro-Hungarian Empire: Lessons for Currency Reform”

  • WP/92/67 (August 1992)

    • by Pablo E. Guidotti

  • “Wage and Public Debt Indexation”

  • WP/92/68 (September 1992)

    • by Adam Bennett and Susan Schadler

  • “Interest Rate Policy in Central and Eastern Europe: The Influence of Monetary Overhangs and Weak Enterprise Discipline”

  • WP/92/69 (September 1992)

    • by Shoukang Lin

  • “A Simple Monetary Model of a Shortage Economy”

  • WP/92/70 (September 1992)

    • by Peter Stella

  • “Tax Farming--A Radical Solution for Developing Country Tax Problems?”

  • WP/92/71 (September 1992)

    • by Jeroen J.M. Kremers and Timothy D. Lane

  • “The Implications of Cross-Border Monetary Aggregation”

  • WP/92/72 (September 1992)

    • by Atish R. Ghosh and Jonathan D. Ostry

  • “Macroeconomic Uncertainty, Precautionary Savings and the Current Account”

  • WP/92/73 (September 1992)

    • by Pablo E. Guidotti and Carlos E. Végh

  • “Losing Credibility: The Stabilization Blues”

  • WP/92/74 (September 1992)

    • by Gian Maria Milesi-Ferretti

  • “Wage Claims, Incomes Policy, and the Path of Output and Inflation in a Formerly Centrally Planned Economy”

  • WP/92/75 (September 1992)

    • by Peter J. Montiel and Jonathan D. Ostry

  • “External Shocks and Inflation in Developing Countries Under a Real Exchange Rate Rule”

  • WP/92/76 (September 1992)

    • by Ian Domowitz

  • “A Taxonomy of Automated Trade Execution Systems”

  • WP/92/77 (September 1992)

    • by Yuichi Ikeda

  • “Treatment of Intercompany Transfer Pricing for Tax Purposes--A Survey of Legislative and Administrative Issues

  • WP/92/78 (September 1992)

    • by Erich Spitäller and Michel Galy

  • “Spain: Landmarks in Economic Development, 1939-92”

  • WP/92/79 (October 1992)

    • by Aasim M. Husain

  • “Private Sector Development in State-Dominated Economies”

  • WP/92/80 (October 1992)

    • by Ian Domowitz

  • “Automating the Price Discovery Process: Some International Comparisons and Regulatory Implications”

  • WP/92/81 (October 1992)

    • by Timothy D. Lane and Stephen S. Poloz

  • “Currency Substitution and Cross-Border Monetary Aggregation: Evidence from the G-7”

  • WP/92/82 (October 1992)

    • by Amer Bisat, R. Barry Johnston, and V. Sundararajan

  • “Issues in Managing and Sequencing Financial Sector Reforms: Lessons from Experiences in Five Developing Countries”

  • WP/92/83 (October 1992)

    • by Pierre-Richard Agénor

  • “Credibility Effects of Price Controls in Disinflation Programs”

  • WP/92/84 (October 1992)

    • by Sérgio Pereira Leite

  • “Coordinating Public Debt and Monetary Management During Financial Reforms”

  • WP/92/85 (October 1992)

    • by Guillermo A. Calvo, Leonardo Leiderman, and Carmen M. Reinhart

  • “Capital Inflows to Latin America: The 1970s and the 1990s”

  • WP/92/86 (October 1992)

    • by Eduardo R. Borensztein and Jonathan D. Ostry

  • “Structural and Macroeconomic Determinants of the Output Decline in Poland: 1990-91”

  • WP/92/87 (October 1992)

    • by Michel Galy

  • “Implementation of Monetary Policy in EMS Countries Participating in the Exchange Rate Mechanism”

  • WP/92/88 (October 1992)

    • by Bankim Chadha and Eswar Prasad

  • “Are Prices Countercyclical?”

  • WP/92/89 (November 1992)

    • by Michael Bell and Kalpana Kochhar

  • “China: An Evolving Market Economy--A Review of Reform Experience”

  • WP/92/90 (November 1992)

    • by Jong-Wha Lee

  • “International Trade, Distortions and Long-Run Economic Growth”

  • WP/92/91 (November 1992)

    • by Carlos M. Asilis and Atish R. Ghosh

  • “The Savings Trap and Economic Takeoff”

  • WP/92/92 (November 1992)

    • by Vincent Koen and Steven Phillips

  • “Price Liberalization in Russia: The Early Record”

  • WP/92/93 (October 1992)

    • by Jan Bové

  • “Linkages Between External Debt Data and Balance of Payments, Government Finance, and Monetary Statistics”

  • WP/92/94 (November 1992)

    • by Miranda Xafa, Roger P. Kronenberg, and Joslin Landell-Mills

  • “The European Community’s Trade and Trade-Related Industrial Policies”

  • WP/92/95 (November 1992)

    • by Andrew T. Hook

  • “Managing Payment System Risk During the Transition From a Centrally Planned to a Market Economy”

  • WP/92/96 (November 1992)

    • by E.H. Gardner and W.R. Perraudin

  • “Asymmetry in the ERM: A Case Study of French and German Interest Rates Since Basle-Nyborg”

  • WP/92/97 (November 1992)

    • by Nadeem U. Haque and Peter J. Montiel

  • “Fiscal Policy in Pakistan Since 1970”

  • WP/92/98 (November 1992)

    • by Enrique G. Mendoza

  • “The Terms of Trade and Economic Fluctuations”

  • WP/92/99 (November 1992)

    • by Carlos A. Rodriguez

  • “Money and Credit Under Currency Substitution”

  • WP/92/100 (November 1992)

    • by Masahiro Kawai

  • “Optimal and Sustainable Exchange Rate Regimes: A Simple Game-Theoretic Approach”

  • WP/92/101 (December 1992)

    • by José De Gregorio and Pablo E. Guidotti

  • “Financial Development and Economic Growth”

  • WP/92/102 (December 1992)

    • by José M. Barrionuevo

  • “Inflation and Fiscal Deficits: The Irrelevance of Debt and Money Financing”

  • WP/92/103 (December 1992)

    • by Robert Di Calogero, K. Wilhelm Nahr, and Richard T. Stillson

  • “Money and Banking Statistics in Former Soviet Union (FSU) Economies”

  • WP/92/104 (December 1992)

    • by Bernard P. Herber

  • “International Environmental Taxation in the Absence of Sovereignty”

  • WP/92/105 (December 1992)

    • by Zuliu Hu

  • “Risk-Taking and Optimal Taxation with Nontradable Human Capital”

  • WP/92/106 (December 1992)

    • by Malcolm Knight, Norman Loayza, and Delano Villanueva

  • “Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach”

  • WP/92/107 (December 1992)

    • by Samir Fawzi

  • “Fund Transactions and Reserve Creation”

  • WP/92/108 (December 1992)

    • by Andrew Feltenstein

  • “Tax Policy and Trade Liberalization: An Application to Mexico”

  • WP/92/109 (December 1992)

    • by Gunnar Tersman

  • “The Volatility of Consumption in a Simple General Equilibrium Model”

  • WP/92/110 (December 1992)

    • by Willem Bier

  • “Macroeconomic Models for the PC”

  • WP/92/111 (December 1992)

    • by Enrique Mendoza

  • “Robustness of Macroeconomic Indicators of Capital Mobility”

  • WP/92/112 (December 1992)

    • by Tamim A. Bayoumi

  • “U.S. State and Local Government Finances over the Current Cycle”