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 1990:4 follows; additions will be noted in future issues.

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 1990:4 follows; additions will be noted in future issues.

“Tax Policy Options for a United Germany,” by Bernd Genser [90/89]

“Alternative Dual Exchange Market Regimes: Some Steady State Comparisons,” by Saúl Lizondo [90/90]

“Fiscal Policy, the Real Exchange Rate, and Commodity Prices,” by Carmen M. Reinhart [90/91]

“Fiscal Policy During the Demise of Central Planning: The Transition to a Market Economy,” by Andrew Feltenstein [90/92]

“Industrial Relations and Macroeconomic Performance: An Application to Spain,” by Fabrizio Coricelli [90/93]

“Tax Efficiency in an Open Economy,” by W.R.M. Perraudin and T. Pujol [90/94]

“Financial Innovation and Consumption in the United Kingdom,” by Tamim Bayoumi [90/95]

“European Fiscal Harmonization and the French Economy,” by W.R.M. Perraudin and T. Pujol [90/96]

“A Note on Saving-Investment Correlations in the EMS,” by Jagdeep S. Bhandari and Thomas H. Mayer [90/97]

“The Fiscal and Economic Effects of Federal Credit Assistance Programs,” by Stephen M. Fries [90/98]

“Investment in Housing in the United States: A Portfolio Approach—The Possible Effects of Changes in Tax Policy,” by Krister Andersson [90/99]

“Trade Liberalization in Developing Countries: Initial Trade Distortions and Imported Intermediate Inputs,” by Jonathan D. Ostry [90/100]

“Why Is Unemployment So High at Full Capacity? The Persistence of Unemployment, the Natural Rate, and Potential Output in the Federal Republic of Germany,” by David T. Coe and Thomas Krueger [90/101]

“Structural Models of the Dollar,” by Charles Adams and Bankim Chadha [90/102]

“Corporate Income Tax Harmonization and Capital Allocation in the European Community,” by Angel de la Fuente and Edward Gardner [90/103]

“European Policy Convergence and the EMS,” by Ronald MacDonald and Mark P. Taylor [90/104]

“Analytical and Methodological Issues in the Measurement of Fiscal Deficits,” by Mario I. Blejer and Adrienne Cheasty [90/105]

“The Simplest Test of Target Zone Credibility,” by Lars E.O. Svensson [90/106]

“The Changing Structure of Japanese Trade Flows,” by Robert Corker [90/107]

“Exchange Rate Bands with Point Process Fundamentals,” by W.R.M. Perraudin [90/108]

“The Macroeconomic Effects of Capital Controls and the Stabilization of the Balance of Trade,” by Enrique G. Mendoza [90/109]

“Credibility and the Dynamics of Stabilization Policy: A Basic Framework,” by Guillermo A. Calvo and Carlos A. Végh [90/110]

“Real Interest Rate Targeting: An Example from Brazil,” by Eric V. Clifton [90/111]

“Financial Market Volatility and the Implications for Market Regulation: A Survey,” by Louis O. Scott [90/112]

“Output, Employment, and Financial Sanctions in South Africa,” by Tamim Bayoumi [90/113]

“Parallel Currency Markets in Developing Countries: Theory, Evidence, and Policy Implications,” by Pierre-Richard Agénor [90/114]

“Management of the Nominal Public Debt: Theory and Applications,” by Guillermo A. Calvo and Pablo E. Guidotti [90/115]

“Time Varying Risk Premia in Futures Markets,” by Graciela Kaminsky and Manmohan S. Kumar [90/116]

“Capital Mobility in Developing Countries—Some Empirical Tests,” by Nadeem U. Haque and Peter Montiel [90/117]

“Long-Run Purchasing Power Parity and the Dollar-Sterling Exchange Rate in the 1920s,” by Mark P. Taylor [90/118]

“Money Supply and Interest Rate Policy in a New-Keynesian Framework,” by Guillermo A. Calvo and Carlos A. Végh [90/119]

“Financial Sector Reform and Central Banking in Centrally Planned Economies,” by V. Sundararajan [90/120]

“Financial Market Constraints and Private Investment in a Developing Country,” by E.G. Johnson [90/121]

“Export Processing Zones for Growth and Development: The Mauritian Example,” by Rolf G. Alter [90/122]

“Taxation and the Cost of Capital in Hungary and Poland: A Comparison with Selected European Countries,” by Krister Andersson [90/123]

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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