“Macroeconomic Adjustment and Reform in Planned Economies,” by Thomas A. Wolf [90/27]

“Market-Oriented Reform of Foreign Trade in Planned Economies,” by Thomas A. Wolf [90/28]

“The Role of Monetary Policy in Israel’s 1985 Stabilization Effort,” by Haim Barkai [90/29]

“The Significance of the Current Account: Implications of European Financial Integration,” by Lazaros Molho [90/30]

“Target Zones and Interest Rate Variability,” by Lars E.O. Svensson [90/31]

“Equilibria with Unemployment in Segmented Labor Markets,” by Dimitri G. Demekas [90/32]

“Labor Market Segmentation in a Two-Sector Model of an Open Economy,” by Dimitri G. Demekas [90/33]

“The Integration of Macro- and Microeconomic Relations in Dynamic Policy Models: The Case of Saving and Investment Behavior,” by A. Lans Bovenberg [90/34]

“Policy Inconsistency and External Debt Service,” by Michael P. Dooley and Lars E.O. Svensson [90/35]

“A Note on Debt Reduction and Economic Efficiency,” by Michael P. Dooley [90/36]

“The Current Account in Perspective: Lessons from the Italian Experience,” by Lazaros Molho [90/37]

“The Risk Premium on Italian Government Debt,” by Carlo Cottarelli and Mauro Mecagni [90/38]

“The IMF and Tax Reform,” by Vito Tanzi [90/39]

“Private Investment in Developing Countries: An Empirical Analysis,” by Joshua Greene and Delano Villanueva [90/40]

“Targets, Indicators, and Instruments of Monetary Policy,” by Bennett T. McCallum [90/41]

“Economic Reform and the Demand for Money in China,” by David Burton and Jiming Ha [90/42]

“Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market,” by Jeffrey A. Frankel and Kenneth Froot [90/43]

“Export Instability and Policy Implications for Developing Countries as Residual Suppliers,” by Alicia Mullor-Sebastian [90/44]

“Wages, Profitability, and Growth in a Small Open Economy,” by Bankim Chadha [90/45]

“An Inflation-Proof Tax System? Some Lessons from Israel,” by Efraim Sadka [90/46]

“The Transmission Mechanism for Monetary Policy in Developing Countries,” by Peter Montiel [90/47]

“Fiscal Revenue and Inflationary Finance,” by Nurun N. Choudhry [90/48]

“Stabilization Policy with Bands,” by Daniel Gros [90/49]

“The Exchange Rate and the Price Level in Socialist Economies,” by Thomas A. Wolf [90/50]

“Capital Controls and International Portfolio Theory: A Microeconomic Approach,” by Marjorie B. Rose [90/51]

“Exchange Rate Expectations: A Survey of Survey Studies,” by Shinji Takagi [90/52]

“Long-Run Money Demand in Large Industrial Countries,” by James M. Boughton [90/53]

“The Taxation of the Windfall from Internationalization of the Korean Capital Market,” by Walter Mahler [90/54]

“The Sensitivity of Secondary Sovereign Loan Market Returns to Macro-economic Fundamentals,” by Mark Stone [90/55]

“Public Policy and the Environment: A Survey of the Literature,” by Timothy R. Muzondo, Kenneth M. Miranda, and A. Lans Bovenberg [90/56]

“Government Contingent Liabilities and the Measurement of Fiscal Impact,” by Christopher M. Towe [90/57]

A limited supply of IMF Working Papers is available free of charge to interested scholars and research institutions. In requesting a particular paper (or papers), please indicate the Working Paper number (for example, WP/90/1), title, and author(s). Requests should be made to:

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Loan Commitments and Optimal Monetary Policy

John V. Duca and David D. Vanlloose

Policy Rules, Inflationary Bias, and Cyclical Stability

David M. Garman and Daniel J. Richards

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