Front Matter Page
External Relations Department
Working Paper Summaries WP/95/80
January-June 1995
Contents
WP/95/1 (January 1995)
by Victoria P. Summers and Emil M. Simley “An Analysis of Value-Added Taxes in Russia and Other Countries of the Former Soviet Union”
WP/95/15 (February 1995)
“Compilation of Working Paper Summaries (July-December 1994)”
WP/95/2 (January 1995)
by Marie Montanjees “Government Finance Statistics in the Countries of the Former Soviet Union: Compilation and Methodological Issues”
WP/95/3 (January 1995)
by Masao Ogaki, Jonathan D. Ostry, and Carmen M. Reinhart “Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison”
WP/95/4 (January 1995)
by Felix FitzRoy and Michael Funke “Skills, Wages, and Employment in Eastern and Western Germany”
WP/95/5 (January 1995)
by Dennis J. Snower “The Simple Economics of Benefit Transfers”
WP/95/6 (January 1995)
by Piritta Sorsa “Environmental Protectionism, North-South Trade, and the Uruguay Round”
WP/95/7 (January 1995)
by Dennis J. Snower “Evaluating Unemployment Policies: What do the Underlying Theories Tell Us?”
WP/95/8 (January 1995)
by Ratna Sahay and Carlos Vegh “Inflation and Stabilization in Transition Economies: A Comparison with Market Economies”
WP/95/9 (January 1995)
by Sayuri Shirai “The Pattern of International Trade Between Japan and the Pacific Basin Countries: A Comparison Between 1975 and 1985”
WP/95/10 (January 1995)
by Pierre-Richard Agénor “Wage Contracts, Capital Mobility, and Macroeconomic Policy”
WP/95/11 (January 1995)
by Daniel Hewitt and Caroline van Rijckeghem “Wage Expenditure of Central Governments”
WP/95/12 (January 1995)
by Hamid Faruqee “Pricing to Market and the Real Exchange Rate”
WP/95/13 (January 1995)
by Vincent Koen and Michael Marrese “Stabilization and Structural Change in Russia, 1992-94”
WP/95/14 (February 1995)
by Ronald MacDonald “Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence”
WP/95/16 (February 1995)
by Teresa Ter-Minassian, Pedro P. Parente, and Pedro Martinez-Mendez
“Setting up a Treasury in Economies in Transition”
WP/95/17 (February 1995)
by Alan A. Tait and S. Nuri Erbas
“Excess Wages Tax”
WP/95/18 (February 1995)
by Nancy Wagner
“A Review of PFP-Adjusted GDP Estimation and its Potential Use for the Fund’s Operational Purposes”
WP/95/19 (February 1995)
by Michael T. Hadjimichael and Daneshwar Ghura “Public Policies and Private Savings and Investment in Sub-Saharan Africa: An Empirical Investigation”
WP/95/20 (February 1995)
by Pierre-Richard Agénor and Joshua Aizenman
“Trade Liberalization and Unemployment”
WP/95/21 (February 1995)
by Patrick de Fontenay, Gian Maria Milesi-Ferretti, and Huw Pill
“The Role of Foreign Currency Debt in Public Debt Management”
WP/95/22 (February 1995)
by Vito Tanzi and Anthony Pellechio
“The Reform of Tax Administration”
WP/95/23 (February 1995)
by Ferdinand Bakoup, Abdelrahmi Bessaha, and Luca Errico
“Regional Integration in Eastern and Southern Africa: The Cross-Border Initiative and its Fiscal Implications”
WP/95/24 (February 1995)
by Paolo Mauro
“Current Account Surpluses and the Interest Rate Island in Switzerland”
WP/95/25 (February 1995)
by Christoph B. Rosenberg
“Fiscal Policy Coordination in the West African Economic and Monetary Union After the Devaluation”
WP/95/26 (March 1995)
by Richard K. Abrams
“The Design and Printing of Bank Notes: Considerations When Introducing a New Currency”
WP/95/27 (March 1995)
by Juan Jose Fernandez-Ansola and Thomas Laursen
“Historical Experience with Bond Financing to Developing Countries”
WP/95/28 (March 1995)
by Paul Cashin and Norman Loayza
“Paradise Lost? Growth, Convergence and Migration in the South Pacific”
WP/95/29 (March 1995)
by Sheetal K. Chand and Parthasarathi Shome
“Poverty Alleviation in a Financial Programming Framework: An Integrated Approach”
WP/95/30 (March 1995)
by Robert Ford and Douglas Laxton
“World Public Debt and Real Interest Rates”
WP/95/31 (March 1995)
by Vittorio Grilli and Gian Maria Milesi-Ferretti
“Economic Effects and Structural Determinants of Capital Controls”
WP/95/32 (March 1995)
by Craig Hiemstra and Charles Kramer
“Nonlinearity and Endogeneity in Macro-Asset Pricing”
WP/95/33 (March)
by Patricia Canziani and Dimitri G. Demekas
“The Italian Public Pension System: Current Prospects and Reform Options”
WP/95/34 (March 1995)
by Russell Krueger and Jiming Ha
“Measurement of Co-Circulation of Currencies”
WP/95/35 (March 1995)
by Leonardo Bartolini, Assaf Razin, and Steve Symansky
“Fiscal Restructuring in the Group of Seven Major Industrial Countries in the 1990s: Macroeconomic Effects”
WP/95/36 (March 1995)
by Robert J. Flanagan
“Wage Structure in the Transition of the Czech Economy”
WP/95/37 (April 1995)
by Michael Keane and Eswar Frasad
“The Employment and Wage Effects of Oil Price Changes: A Sectoral Analysis”
WP/95/38 (April 1995)
by Carlo Cottarelli, Giovanni Ferri, and Andrea Generale
“Bank Lending Rates and Financial Structure in Italy: A Case Study”
WP/95/39 (April 1995)
by Hamid Faruqee and Aasim M. Husain
“Saving Trends in Southeast Asia: A Cross-Country Analysis”
WP/95/40 (April 1995)
by Luis Catāo and Ramana Ramaswamy
“Recession and Recovery in the United Kingdom in the 1990s: A Vector Autoregression Approach”
WP/95/41 (April 1995)
by Robert Ford and Thomas Krueger
“Exchange Rate Movements and Inflation Performance: The Case of Italy”
WP/95/42 (April 1995)
by Alberto Carrasquilla
“Exchange Rate Bands and Shifts in the Stabilization Policy Regime: Issues Suggested by the Experience of Colombia”
WP/95/43 (April 1995)
by Tamim Bayoumi
“Who Needs Bands? Exchange Rate Policy Before EMU”
WP/95/44 (April 1995)
by Tapio O. SaavalaineThe Maastricht treaty markedn
“Stabilization in the Baltic Countries: A Comparative Analysis”
WP/95/45 (April 1995)
by Anthony Richards and Gunnar Tersman
“Growth, Nontradables, and Price Convergence in the Baltics”
WP/95/46 (April 1995)
by Vito Tanzi and John King
“The Taxation of Financial Assets: A Survey of Issues and Country Experiences”
WP/95/47 (May 1995)
by Robert A. Feldman and Vincent Reinhart
“Auction Format Matters: Evidence on Bidding Behavior and Seller Revenue”
WP/95/48 (May 1995)
by Piritta Sorsa
“The Burden of Sub-Saharan African Own Commitments in the Uruguay Round Myth or Reality?”
WP/95/49 (May 1995)
by Vito Tanzi and Domenico Fanizza
“Fiscal Deficit and Public Debt in Industrial Countries, 1970-1994”
WP/95/50 (May 1995)
by David Bevan
“Fiscal Implications of Trade Liberalization”
WP/95/51 (May 1995)
by Paul R. Masson, Tamim Bayounti, and Hossein Same
“International Evidence on the Determinants of Private Saving”
WP/95/52 (May 1995)
by Giorgia Giovannetti and Hossein Samiei
“Hysteresis in Exports”
WP/95/53 (May 1995)
by Malcolm Knight, Norman Loayza, and Delano Villanueva
“The Peace Dividend: Military Spending Cuts and Economic Growth”
WP/95/54 (May 1995)
by Paula de Masí and Vincent Koen
“Relative Price Convergence in Russia”
WP/95/55 (June 1995)
by Ronald MacDonald
“Asset Market and Balance of Payments Characteristics: An Eclectic Exchange Rate Model for the Dollar, Mark, and Yen”
WP/95/56 (May 1995)
by Michael Sarel
“NonLinear Effects of Inflation on Economic Growth”
WP/95/57 (May 1995)
by Guillermo Calvo, Ratna Sahay, and Carlos Végh
“Capital Flows in Central and Eastern Europe: Evidence and Policy Options”
WP/95/58 (June 1995)
by Paul Cashin and C. John McDermott
“Informational Efficiency in Developing Equity Markets”
WP/95/59 (June 1995)
by Edward M. Graham
“Foreign Direct Investment in the World Economy”
WP/95/60 (June 1995)
by Paul Bernd Spahn
“International Financial Flows and Transactions Taxes: Survey and Options”
WP/95/61 (June 1995)
by Burkhard Drees and Ceyla Pa2arbasioğlu
“The Nordic Banking Crises: Pitfalls in Financial Liberalization?”