Front Matter

Contents

  • A General-Equilibrium Approach to the Analysis of Monetary and Fiscal Policies

    • ANDREW FELTENSTEIN

  • The Divergence Indicator: A Technical Note

    • JOANNE SALOP

  • Real Responses Associated with Exchange Rate Action in Selected Upper Credit Tranche Stabilization Programs

    • DONAL J. DONOVAN

  • The Fund Agreement in the Courts—XVII

    • JOSEPH GOLD

  • The Preannouncement of Exchange Rate Changes as a Stabilization Instrument

    • MARIO I. BLEJER and DONALD J. MATHIESON

  • Capital Controls and Interest Rate Parity: The Japanese Experience, 1978–81

    • ICHIRO OTANI and SIDDHARTH TIWARI

  • Summaries

  • Résumes

  • Resúmenes

Front Matter Page

STAFF PAPERS

Norman K. Humphreys, Editor

Mary Ellen Lucas and Jennie Lee Carter

Assistant Editors

Editorial Committee

Norman K. Humphreys, Chairman

Jacques R. Artus

Sterie T. Beza

Eduard H. Brau

Adalbert Knöbl

Anthony Lanyi

Rose S. Porras

M. Ranji P. Salgado

Brock K. Short

Alan A. Tait

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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