Contents
The Impact of Monetary and Fiscal Policy Under Flexible Exchange Rates and Alternative Expectations Structures
DONALD J. MATHIESON
Downward Price Inflexibility, Ratchet Effects, and the Inflationary Impact of Import Price Changes: Some Empirical Tests
MORRIS GOLDSTEIN
Compensatory Financing: The Cyclical Pattern of Export Shortfalls
L.M. GOREUX
Exchange Rate Policy in Japan: Leaning Against the Wind
PETER J. QUIRK
Monetization of Developing Economies
ANAND G. CHANDAVARKAR
Corporation Income Tax Structure in Developing Countries
GEORGE E. LENT
The U.K. Investment Currency Market
PAUL K. WOOLLEY
Summaries
Résumés
Resúmenes
Front Matter Page
STAFF PAPERS
Norman K. Humphreys, Editor
Editorial Committee
Norman K. Humphreys, Chairman
Jacques R. Artus
W. A. Beveridge
Sterie T. Beza
Anthony Lanyi
Charles L. Merwin
Rose S. Porras
Harilaos Vittas
From the Foreword to the first issue:
“Among the responsibilities of the International Monetary Fund, as set forth in the Articles of Agreement, is the obligation to ‘act as a center for the collection and exchange of information on monetary and financial problems,’ and thereby to facilitate ‘the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.’ The publications of the Fund are one way in which this responsibility is discharged.
“Through the publication of Staff Papers, the Fund is making available some of the work of members of its staff. The Fund believes that these papers will be found helpful by government officials, by professional economists, and by others concerned with monetary and financial problems. Much of what is now presented is quite provisional. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the Fund.”
The authors of the papers in this issue have received considerable assistance from their colleagues on the staff of the Fund. This general statement of indebtedness may be accepted in place of a detailed list of acknowledgments.
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