Abstract
Staff Papers draws on IMF Working Papers, which are research studies by members of the Fund’s staff. A list of Working Papers issued in 1991:1 follows; additions will be noted in future issues.
“Welfare Costs of Inflation, Seigniorage, and Financial Innovation,” by José De Gregorio [91/1]
“The Japanese Yen as an International Currency,” by George S. Tavlas and Yuzuru Ozeki [91/2]
“Response of the Equilibrium Real Exchange Rate to Real Disturbances in Developing Countries,” by Mohsin S. Kahn and Jonathan D. Ostry [91/3]
“Mobilization of Savings in Eastern European Countries: The Role of the State,” by Vito Tanzi [91/4]
“Indicators of Fiscal Sustainability,” by Jocelyn Home [91/5]
“Interest Rates and Government Debt: Are the Linkages Global Rather than National?” by Vito Tanzi and Mark S. Lutz [91/6]
“On Interpreting the Random Walk Behavior of Nominal and Real Exchange Rates,” by Charles Adams and Bankim Chadha [91/7]
“Measuring the Role of Subnational Governments,” by Jonathan Levin [91/8]
“The Determinants and Efficiency of Local Authority Spending in England,” by Tamim Bayoumi and James Gordon [91/9]
“Speculative Attacks,” by Guillermo A. Calvo and Pablo E. Guidotti [91/10]
“Budgetary Subsidies in Centrally Planned Economies in Transition,” by Robert Holzmann [91/11]
“Interest Rates in Mexico: The Role of Exchange Rate Expectations and International Creditworthiness,” by Hoe E. Khor and Liliana Rojas-Suarez [91/12]
“On the Sequencing of Reforms in Eastern Europe,” by Hans Genberg [91/13]
“Poverty Alleviation and Social Safety Net Schemes for Economies in Transition,” by Gillian Paull [91/14]
“An Empirical Exploration of Exchange Rate Target-Zones,” by Robert P. Flood, Andrew K. Rose, and Donald J. Mathieson [91/15]
“What Have We Learned About Estimating the Demand for Money? A Multi-country Evaluation of Some New Approaches,” by James M. Boughton and George S. Tavlas [91/16]
“From Centrally Planned to Market Economies: The Road from CPE to PCPE,” by Guillermo A. Calvo and Jacob A. Frenkel [91/17]
“A General Equilibrium Model with Informal Financial Markets,” by Pierre-Richard Agénor, Nadeem U. Haque, and Peter J. Montiel [91/18]
“The Italian Lira in the Narrow ERM Band: The Challenge of Credibility,” by Lazaros E. Molho [91/19]
“On the Information Content of LDC Secondary Loan Market Prices,” by Mark R. Stone [91/20]
“Estimating the Base of the Value-Added Tax (VAT) in Developing Countries: The Problem of Exemptions,” by G.A. Mackenzie [91/21]
“International VAT Harmonization: Economic Effects,” by Jacob A. Frenkel, Assaf Razin, and Steven Symansky [91 /22]
“Tax Reform in Economies in Transition: A Brief Introduction to the Main Issues,” by Vito Tanzi [91/23]
“Integration of Eastern Europe into the World Trading System,” by H.B. Junz [91/24]
“Real Exchange Rates and Competitiveness: A Clarification of Concepts, and Some Measurements for Europe,” by Leslie Lipschitz and Donogh McDonald [91/25]
“Price Pressure Gaps: An Application of P* Using Korean Data,” by Robert J. Corker and Richard D. Haas [91/26]
“Monetary Policy and the Price Behavior in Emerging Stock Markets,” by Peter K. Cornelius [91/27]
“Macroeconomic Policies and Long-Term Growth: A Conceptual and Empirical Review,” by Mohsin S. Khan and Delano Villanueva [91/28]
“Macroeconomic Implications of Real Exchange Rate Targeting in Developing Countries,” by Peter J. Montiel and Jonathan D. Ostry [91/29]
“Liberalization and Financial Crisis in Uruguay (1974–1987),” by Juan Pérez-Campanero and Alfredo M. Leone [91/30]
“A Note on Dual Foreign Exchange Markets with Official Rationing: Predetermined Versus Floating Official Exchange Rate,” by J. Saúl Lizondo [91/31]
“Exchange Rate Appreciation as a Signal of a New Policy Stance,” by Georg Winckler [91/32]
“From Direct to Indirect Monetary Policy Instruments: The French Experience Reconsidered,” by Marc Quintyn [91/33]
“Globalization of Financial Markets and Implications for Pacific Basin Developing Countries,” by David Goldsbrough and Ranjit Teja [91/34]
“Output Fluctuations and Monetary Shocks: Evidence from Colombia,” by Carmen M. Reinhart and Vincent R. Reinhart [91 /35]
“Proposals for Privatization in Eastern Europe,” by Eduardo Borensztein and Manmohan S. Kumar [91/36]
“Do Exchange Rates Work? Another View,” by Robert A. Mundell [91/37]
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/91/1), title, and author(s). Requests should be made to:
International Monetary Fund
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International Economic Review
A Selection of Articles Forthcoming in Volume 32(1991):
Simon P. Anderson and Damien J. Neven
Cournot Competition Yields Spatial Agglomeration
R. Stephen Cantrell, Peter M. Burrows, and Quang H. Vuong
Interpretation and Use of Generalized Chow Tests
Jay S. Coggins, Theodore Graham-Tomasi, and Terry L. Roe
Existence of Equilibrium in a Lobbying Economy
Chaim Fershtman, Kenneth L. Judd, and Ehud Kalai
Observable Contracts: Strategic Delegation and Cooperation
Scott Freeman and Gregory W. Huffman
Inside Money, Output, and Causality
Hans Haller
Corporate Production and Shareholder Cooperation under Uncertainty
Joseph E. Harrington, Jr.
The Determination of Price and Output Quotas in a Heterogeneous Cartel
R. Preston McAfee and John McMillan
Optimal Contracts for Teams
James D. Reitzes
The Impact of Quotas and Tariffs on Strategic R&D Behavior
Joseph Zeira
Credit Rationing in an Open Economy
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Labour markets ▪ Energy Economic Policy in the 1980s ▪ Eastern Europe
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RAZVOJ/DEVELOPMENT-INTERNATIONAL
Journal for scientific thought on social, economic, political, cultural, technological, environmental and other problems of development and international relations
Published by: INSTITUTE FOR DEVELOPMENT AND INTERNATIONAL RELATIONS
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RAZVOJ/DEVELOPMENT-INTERNATIONAL, No. 2, 1990:
SOCIETY IN TRANSITION
Published in cooperation with THE CLUB OF ROME
ALEXANDER KING: TECHNOLOGICAL DETERMINANTS AND EDUCATIONAL NEEDS OF SOCIETY IN TRANSITION • BERTRAND SCHNEIDER: REBIRTH OF HUMAN RESPONSIBILITY: NEW ETHICS IN GLOBAL EDUCATION • JERMEN M. GVISHIANI: TRANSITIONAL PERIOD OF “LAGGING MODERNIZATION”: WORLD EXPERIENCE AND PROBLEMS OF PERESTROIKA • DONALD N. MICHAEL: COMPETENCE AND COMPASSION IN AN AGE OF UNCERTAINTY • EUGEN PUSIĆ: THE EVOLUTION OF THE STATE AMD THE CONTROL OF POWER • INGE PERKO-ŠEPAROVIĆ: INSTITUTIONAL MECHANISMS AND GLOBAL CRISIS • VELIMIR PRAVDlĆ: YUGOSLAV NATIONAL LONG-TERM POLICY FOR ENVIRONMENTAL MANAGEMENT •
NEWS FROM THE NATIONAL ASSOCIATIONS FOR THE CLUB OF ROME: AUSTRALIAN CLUB OF ROME • THE FOUNDATION ERASMUS LIGA: THE NETHERLANDS ASSOCIATION FOR THE CLUB OF ROME • NEW ZEALAND ASSOCIATION OF THE CLUB OF ROME • POLISH ASSOCIATION FOR THE CLUB OF ROME • YUGOSLAV ASSOCIATION FOR THE CLUB OF ROME •
REVIEWS OF RECENT INTERNATIONAL CONFERENCES: THE CONTRIBUTION OF SCIENCE AND TECHNOLOGY TO GLOBAL ENVIRONMENTAL POLICY (Berlin, October 1990) • THE HIGHLIGHTS FROM THE FINAL COMMUNIQUE OF THE SOUTH COMMISSION (Arusha, October 1990) • INFORMATION SYSTEMS IN CULTURE (Zagreb, September 1990) • LA COMMUNICATION INTERCULTURELLE ET LE ROLE DU RESAU CULTURELINK •
BOOK REVIEWS • SELECTED BIBLIOGRAPHY: THE CLUB OF ROME 1972–1990 •
RAZVOJ/DEVELOPMENT-INTERNATIONAL, No. 1, 1990:
WORLD ECONOMY AND YUGOSLAVIA
THE OVERCOMING OF BARRIERS OF AUTARKIC DEVELOPMENT AND YUGOSLAVIA’S PROSPECTS • HOW TO TRANSFORM THE ECONOMIES WHICH WERE DEVASTATED BY THE VOLUNTARISTIC SOCIALISM • DEINTERNATION OF WORLD EVENTS IN THE YUGOSLAV ECONOMIC ENVIRONMENT • THE WORLD ECONOMY AND YUGOSLAV DEVELOPMENT FROM THE POINT OF VIEW OF HUMAN RESOURCES • YUGOSLAV’S TOURIST OPPORTUNITIES AND FOREIGN CAPITAL • THE ADOPTION OF THE MODEL OF AN OPEN ECONOMY AND CREATIVE TECHNOLOGY TRANSFER • THE ECONOMIC AND SOCIAL POSITION OF YUGOSLAVIA IN WORLD AND EUROPEAN TERMS • THE COLLAPSE AND OVERCOMING OF THE AUTHORITARIAN-MONISTIC IDEOLOGY • YUGOSLAVIA IN NEW EUROPE • THE EXTERNAL DETERMINANTS OF YUGOSLAVIA’S DEVELOPMENT IN THE NINETIES • GEOPOLITICAL ASPECTS OF THE POSITION OF YUGOSLAVIA • KEYNESIANISM AND MONETARISM, SCIENTIFICALLY GROUNDED ECONOMIC POLICY • SELECTED BIBLIOGRAPHY: YUGOSLAVIA IN WORLD ECONOMY •
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