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International Monetary Fund. Research Dept.
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CONTENTS

  • The Disequilibrium Real Wage Rate Hypothesis: An Empirical Evaluation

    • jacques r. artus

  • Relative Prices, Real Wages, and Macroeconomic Policies: Some Evidence from Manufacturing in Japan and the United Kingdom

    • leslie lipschitz and susan m. schadler

  • Optimum Taxation and Tax Policy

    • nicholas h. stern

  • Government Policy and Private Investment in Developing Countries

    • mario i. blejer and mohsin s. khan

  • Quantitative Controls and Unofficial Markets in Foreign Exchange: A Theoretical Framework

    • michael nowak

  • Summaries

  • Résumés

  • Resúmenes

Front Matter Page

STAFF PAPERS

Norman K. Humphreys, Editor

James McEuen and Ella Wright Assistant Editors

Editorial Committee

Norman K. Humphreys, Chairman

Jacques R. Artus

Eduard H. Brau

Ernesto Hernández-Catá

Adalbert Knöbl

Anthony Lanyi

M. Ranji P. Salgado

Stephen A. Silard

V. Sundararajan

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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International Monetary Fund

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Front Matter Page

EDITOR’S NOTE

The Editor invites from contributors outside the Fund brief comments (not more than 1,000 words) on published articles in Staff Papers. These comments should be addressed to the Editor, who will forward them to the author of the original article for reply. Both the comments and the reply will be published in the same issue of Staff Papers.

The term “country,” as used in this publication, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states but for which statistical data are maintained and provided internationally on a separate and independent basis.

© 1984 by the International Monetary Fund

International Standard Serial Number: ISSN 0020-8027

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