Abstract
This paper uses microeconomic panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, it finds that, at the aggregate level, skilled and unskilled workers are subject to the same degree of cyclical variation in wages. However, the quality of labor input is found to rise in recessions, inducing a countercyclical bias in aggregate measures of the real wage. The paper also finds substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, indicating important interindustry differences in labor contracting.
Volume 40 (1993) comprises four issues, as follows:
March, pages 1-236
June, pages 237-484
September, pages 485-710
December, pages 711-895
Authors
Bennett, Adam G.G. The Operation of the Estonian Currency Board 451
Borensztein, Eduardo, Dimitri G. Demekas, and Jonathan D. Ostry. An Empirical Analysis of the Output Declines in Three Eastern European Countries 1
Calvo, Guillermo A., and Fabrizio Coricelli. Output Collapse in Eastern Europe: The Role of Credit 32
Calvo, Guillermo A., Leonardo Leiderman, and Carmen M. Reinhart. Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors 108
Calvo, Guillermo A., Leonardo Leiderman, and Carmen M. Reinhart. Formulating a Policy Response: Reply to Snowden 868
Caramazza, Francesco. French-German Interest Rate Differentials and Time-Varying Realignment Risk 567
Chadha, Bankim, and Eswar Prasad. Interpreting the Cyclical Behavior of Prices 266
Chadha, Bankim, Fabrizio Coricelli, and Kornelia Krajnyak. Economic Restructuring, Unemployment, and Growth in a Transition Economy 744
Clifton, Eric V., and Mohsin S. Khan. Interenterprise Arrears in Transforming Economies: The Case of Romania 680
Coe, David T., and Reza Moghadam. Capital and Trade as Engines of Growth in France: An Application of Johansen’s Cointegration Methodology 542
Coricelli, Fabrizio, and Guillermo A. Calvo. Output Collapse in Eastern Europe: The Role of Credit 32
Coricelli, Fabrizio, Bankim Chadha, and Kornelia Krajnyak. Economic Restructuring, Unemployment, and Growth in a Transition Economy 744
Demekas, Dimitri G., Eduardo Borensztein, and Jonathan D. Ostry. An Empirical Analysis of the Output Declines in Three Eastern European Countries 1
Dooley, Michael, and Mark R. Stone. Endogenous Creditor Seniority and External Debt Values 395
Dooley, Michael, Richard Haas, and Steven Symansky. A Note on Burden Sharing Among Creditors 226
Feldman, Robert A,, and Rajnish Mehra. Auctions: Theory and Applications 485
García, Maria E. Output Fluctuations and Monetary Shocks in Colombia: Comment on Reinhart and Reinhart 871
Gardner, Edward H., and William R.M. Perraudin. Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification 427
Goldberg, Linda S. Foreign Exchange Markets in Russia: Understanding the Reforms 852
Guidotti, Pablo E. Wage and Public Debt Indexation 237
Haas, Richard, Michael Dooley, and Steven Symansky. A Note on Burden Sharing Among Creditors 226
Haque, Nadeem U., and Peter J. Montiel. Fiscal Adjustment in Pakistan: Some Simulation Results 471
Hu, Zuliu. Risk Taking and Optimal Taxation in the Presence of Nontradable Human Capital 622
Hu, Zuliu. The Yield Curve and Real Activity 781
Kawai, Masahiro. Optimal and Sustainable Exchange Rate Regimes: A Two-Country Game-Theoretic Approach 329
Keane, Michael, and Eswar Prasad. Skill Levels and the Cyclical Variability of Employment, Hours, and Wages 711
Khan, Mohsin S., and Eric V. Clifton. Interenterprise Arrears in Transforming Economies: The Case of Romania 680
Knight, Malcolm, Norman Loayza, and Delano Vilianueva. Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach 512
Krajnyak, Kornelia, Bankim Chadha, and Fabrizio Coricelli. Economic Restructuring, Unemployment, and Growth in a Transition Economy 744
Lane, Timothy D. Market Discipline 53
Lee, Jong-Wha. International Trade, Distortions, and Long-Run Economic Growth 299
Leiderman, Leonardo, Guillermo A. Calvo, and Carmen M. Reinhart. Formulating a Policy Response: Reply to Snowden 868
Leiderman, Leonardo, Guillermo A. Calvo, and Carmen M. Reinhart. Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors 108
Lin, Shoukang. A Monetary Model of a Shortage Economy 369
Lizondo, J. Saul. Real Exchange Rate Targeting Under Imperfect Asset Substitutability 829
Loayza, Norman, Malcolm Knight, and Delano Villanueva. Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach 512
MacDonald, Ronald, and Mark P. Taylor. The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting 89
Mehra, Rajnish, and Robert A. Feldman. Auctions: Theory and Applications 485
Miller, Marcus, and Alan Sutherland. Contracts, Credibility, and Common Knowledge: Their Influence on Inflation Convergence 178
Moghadam, Reza, and David T. Coe. Capital and Trade as Engines of Growth in France: An Application of Johansen’s Cointegration Methodology 542
Montiel, Peter J., and Nadeem U. Haque. Fiscal Adjustment in Pakistan: Some Simulation Results. 471
Muzondo, Timothy R. Mineral Taxation, Market Failure, and the Environment 152
Osband, Kent, and Delano Villanueva. Independent Currency Authorities: An Analytic Primer 202
Ostry, Jonathan D., Eduardo Borensztein, and Dimitri G. Demekas. An Empirical Analysis of the Output Declines in Three Eastern European Countries 1
Papaioannou, Michael G., and Tugrul Temel. Portfolio Performance of the SDR and Reserve Currencies: Tests Using the ARCH Methodology 663
Perraudin, William R.M., and Edward H. Gardner. Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification 427
Prasad, Eswar, and Bankim Chadha. Interpreting the Cyclical Behavior of Prices 266
Prasad, Eswar, and Michael Keane. Skill Levels and the Cyclical Variability of Employment, Hours, and Wages 711
Reinhart, Carmen I., and Vincent R. Reinhart. Output Fluctuations and Monetary Shocks in Colombia: Reply to García 876
Reinhart, Vincent R., and Carmen M. Reinhart. Output Fluctuations and Monetary Shocks in Colombia: Reply to García 876
Reinhart, Carmen R., Guillermo A. Calvo, and Leonardo Leiderman. Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors 108
Reinhart, Carmen R., Guillermo A. Calvo, and Leonardo Leiderman
Formulating a Policy Response: Reply to Snowden 868
Rodriguez, Carlos Alfredo. Money and Credit Under Currency Substitution 414
Santaella, Julio A. Stabilization Programs and External Enforcement: Experience from the 1920s 584
Schutte, Christian, and Parthasarathi Shome. Cash -Flow Tax 638
Shome, Parthasarathi, and Christian Schutte. Cash-Flow Tax 638
Shome, Parthasarathi, and Vito Tanzi. A Primer on Tax Evasion 807
Snowden, P. Nicholas. Formulating a Policy Response; Comment on Calvo, Leiderman, and Reinhart 865
Stella, Peter. Tax Farming: A Radicai Solution for Developing Country Tax Problems? 217
Stone, Mark R., and Michael Dooley. Endogenous Creditor Seniority and External Debt Values 395
Sutherland, Alan, and Marcus Miller. Contracts, Credibility, and Common Knowledge: Their Influence on Inflation Convergence 178
Symansky, Steven, Michael Dooley, and Richard Haas, A Note on Burden Sharing Among Creditors 226
Tanzi, Vito. The Budget Deficit in Transition: A Cautionary Note 697
Tanzi, Vito, and Parthasarathi Shome. A Primer on Tax Evasion 807
Taylor, Mark P., and Ronald MacDonald. The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting 89
Temei, Tugrul, and Michael G. Papaioannou. Portfolio Performance of the SDR and Reserve Currencies: Tests Using the ARCH Methodology 663
Villanueva, Delano, and Kent Osband. Independent Currency Authorities: An Analytic Primer 202
Villanueva, Delano, Malcolm Knight, and Norman Loayza. Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach 512
Titles
Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification. By Edward H, Gardner and William R.M. Perraudin 427
Auctions: Theory and Applications. By Robert A. Feldman and Rajnish Mehra 485
The Budget Deficit in Transition: A Cautionary Note. By Vito Tanzi 697
Capital and Trade as Engines of Growth in France: An Application of Johansen’s Cointegration Methodology. By David T. Coe and Reza Moghadam 542
Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors. By Guillermo A. Calvo, Leonardo Leiderman, and Carmen M. Reinhart 108
Cash-Flow Tax. By Parthasarathi Shome and Christian Schutte 638
Contracts, Credibility, and Common Knowledge: Their Influence on Inflation Convergence. By Marcus Miller and Alan Sutherland 178
Economic Restructuring, Unemployment, and Growth in a Transition Economy. By Bankim Chadha, Fabrizio Coricelli, and Kornelia Krajnyak 744
An Empirical Analysis of the Output Declines in Three Eastern European Countries. By Eduardo Borensztein, Dimitri G. Demekas, and Jonathan D. Ostry 1
Endogenous Creditor Seniority and External Debt Values. By Michael Dooley and Mark R. Stone 395
Fiscal Adjustment in Pakistan: Some Simulation Results. By Nadeem U. Haque and Peter J. Montiel 471
Foreign Exchange Markets in Russia: Understanding the Reforms. By Linda S. Goldberg 852
Formulating a Policy Response: Comment on Calvo, Leiderman, and Reinhart. By P. Nicholas Snowden 865
Formulating a Policy Response: Reply to Snowden. By Guillermo A.
Calvo, Leonardo Leiderman, and Carmen M. Reinhart 868
French-German Interest Rate Differentials and Time-Varying Realignment Risk. By Francesco Caramazza 567
Independent Currency Authorities: An Analytic Primer. By Kent Osband and Delano Villanueva 202
Interenterprise Arrears in Transforming Economies: The Case of Romania. By Eric V. Clifton and Mohsin S. Khan 680
International Trade, Distortions, and Long-Run Economic Growth. By Jong-Wha Lee 299
Interpreting the Cyclical Behavior of Prices. By Bankim Chadha and Eswar Prasad 266
Market Discipline. By Timothy D. Lane 53
Mineral Taxation, Market Failure, and the Environment. By Timothy R. Muzondo 152
The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting. By Ronald MacDonald and Mark P. Taylor 89
A Monetary Model of a Shortage Economy. By Shoukang Lin 369
Money and Credit Under Currency Substitution. By Carlos Alfredo Rodriguezb 414
A Note on Burden Sharing Among Creditors. By Michael Dooley, Richard Haas, and Steven Symansky 226
The Operation of the Estonian Currency Board. By Adam G.G. Bennett 451
Optimal and Sustainable Exchange Rate Regimes: A Two-Country Game-Theoretic Approach. By Masahiro Kawai 329
Output Collapse in Eastern Europe: The Role of Credit. By Guillermo A. Calvo and Fabrizio Coricelli 32
Output Fluctuations and Monetary Shocks in Colombia: Comment on Reinhart and Reinhart. By Maria E. García 871
Output Fluctuations and Monetary Shocks in Colombia: Reply to García. By Carmen M. Reinhart and Vincent R. Reinhart 876
Portfolio Performance of the SDR and Reserve Currencies: Tests Using the ARCH Methodology. By Michael G. Papaioannou and Tugrul Temei 663
A Primer on Tax Evasion. By Vito Tanzi and Parthasarathi Shome 807
Real Exchange Rate Targeting Under Imperfect Asset Substitutability, By J. Saul Lizondo 829
Risk Taking and Optimal Taxation in the Presence of Nontradable Human Capital. By Zuliu Hu 622
Skill Levels and the Cyclical Variability of Employment, Hours, and Wages. By Michael Keane and Eswar Prasad 711
Stabilization Programs and External Enforcement: Experience from the 1920s. By Julio A. Santaella 584
Tax Farming: A Radical Solution for Developing Country Tax Problems? By Peter Stella 217
Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach. By Malcolm Knight, Norman Loayza, and Delano Villanueva 512
Wage and Public Debt Indexation. By Pablo E, Guidotti 237
The Yield Curve and Real Activity. By Zuliu Hu 781
Subjects
To facilitate electronic storage and retrieval of bibliographic data, Staff Papers has adopted the subject classification scheme of the Journal of Economic Literature (Nashville, Tennessee),
C Mathematical and Quantitative Methods
C22 Time-Series Models
Portfolio Performance of the SDR and Reserve Currencies: Tests Using the ARCH Methodology. By Michael G. Papaioannou and Tugrul Temei 663
C23 Models with Panel Data
Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach. By Malcolm Knight, Norman Loayza, and Delano Viilanueva 512
C70 Game Theory and Bargaining Theory—General
Auctions: Theory and Applications. By Robert A. Feldman and Rajnish Mehra 485
D Microeconomics
D40 Market Structure and Pricing—General
Auctions: Theory and Applications. By Robert A. Feldman and Rajnish Mehra 485
D44 Auctions
Auctions: Theory and Applications. By Robert A. Feldman and Rajnish Mehra 485
D59 General Equilibrium and Disequilibrium—Other
A Monetary Model of a Shortage Economy. By Shoukang Lin 369
D60 Economic Welfare—General
Auctions: Theory and Applications, By Robert A. Feldman and Rajnish Mehra 485
E Macroeconomics and Monetary Economics
E2 Consumption, Saving, Production, Employment, and Investment
An Empirical Analysis of the Output Declines in Three Eastern European Countries. By Eduardo Borensztein, Dimitri G. Demekas, and Jonathan D. Ostry 1
E23 Production
Capital and Trade as Engines of Growth in France: An Application of Johansen’s Cointegration Methodology. By David T. Coe and Reza Moghadam 542
E3 Prices, Business Fluctuations, and Cycles
Output Fluctuations and Monetary Shocks in Colombia: Comment on Reinhart and Reinhart. By Maria E. García 871
Output Fluctuations and Monetary Shocks in Colombia: Reply to García. By Carmen M. Reinhart and Vincent R. Reinhart 876
E31 Price Level; Inflation; Deflation
Contracts, Credibility, and Common Knowledge: Their Influence on Inflation Convergence. By Marcus Miller and Alan Sutherland 178
Interpreting the Cyclical Behavior of Prices. By Bankim Chadha and Eswar Prasad 266
E32 Business Fluctuations; Cycles
Interpreting the Cyclical Behavior of Prices. By Bankim Chadha and Eswar Prasad 266
Skill Levels and the Cyclical Variability of Employment, Hours, and Wages. By Michael Keane and Eswar Prasad 711
The Yield Curve and Real Activity. By Zuliu Hu 781
E43 Determination of Interest Rates; Term Structure of Interest Rates
Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification. By Edward H. Gardner and William R.M, Perraudin 427
French-German Interest Rate Differentials and Time-Varying Realignment Risk. By Francesco Caramazza 567
E51 Money Supply; Credit; Money Multipliers
Interenterprise Arrears in Transforming Economies: The Case of Romania. By Eric V. Clifton and Mohsin S. Khan 680
Money and Credit Under Currency Substitution. By Carlos Alfredo Rodriguez 414
E52 Monetary Policy (Targets, Instruments, and Effects)
Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification. By Edward H. Gardner and William R.M. Perraudin 427
Independent Currency Authorities: An Analytic Primer, By Kent Osband and Delano Villanueva 202
Real Exchange Rate Targeting Under Imperfect Asset Substitutability. By J. Saul Lizondo 829
E58 Central Banks and Their Policies
Asymmetry in the ERM; A Case Study of French and German Interest Rates Before and After German Unification. By Edward H. Gardner and William R.M. Perraudin 427
E59 Monetary Policy, Central Banking, and the Supply of Money and Credit—Other
Independent Currency Authorities: An Analytic Primer. By Kent Osband and Delano Villanueva 202
E6 Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook
Fiscal Adjustment in Pakistan: Some Simulation Results. By Nadeem U. Haque and Peter J. Montiel 471
Wage and Public Debt Indexation. By Pablo E, Guidotti 237
E61 Policy Objectives; Policy Designs and Consistency; Policy Coordination
Real Exchange Rate Targeting Under Imperfect Asset Substitutability. By J. Saul Lizondo 829
Stabilization Programs and External Enforcement: Experience from the 1920s. By Julio A. Santaella 584
E62 Fiscal Policy; Public Expenditures and Finance; Taxation
Endogenous Creditor Seniority and External Debt Values. By Michael Dooley and Mark R. Stone 395
E65 Studies of Particular Policy Episodes
Interenterprise Arrears in Transforming Economies: The Case of Romania. By Eric V. Clifton and Mohsin S. Khan 680
F International Economics
F13 Commercial Policy; Protection; Promotion; Trade Negotiations
International Trade, Distortions, and Long-Run Economic Growth. By Jong-Wha Lee 299
F15 Economic Integration
Capital and Trade as Engines of Growth in France: An Application of Johansen’s Cointegration Methodology. By David T. Coe and Reza Moghadam 542
F3 International Finance
Foreign Exchange Markets in Russia: Understanding the Reforms. by Linda S. Goldberg 852
F31 Exchange Rates; Foreign Exchange Intervention
Asymmetry in the ERM: A Case Study of French and German nterest Rates Before and After German Unification. By Edward H. Gardner and William R.M. Perraudin 427
Contracts, Credibility, and Common Knowledge: Their Influence on Inflation Convergence. By Marcus Miller and Alan Sutherland 178
French-German Interest Rate Differentials and Time-Varying Realignment Risk. By Francesco Caramazza 567
The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting. By Ronald MacDonald and Mark P. Taylor 89
The Operation of the Estonian Currency Board. By Adam G.G. Bennett 451
Real Exchange Rate Targeting Under Imperfect Asset Substitutability. By J. Saul Lizondo 829
F32 Current Account Adjustment; Short-term Capital Movements
Money and Credit Under Currency Substitution. By Carlos Alfredo Rodriguez 414
F33 International Monetary Arrangements and Institutions
Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification. By Edward H. Gardner and William R.M. Perraudin 427
French-German Interest Rate Differentials and Time-Varying Realignment Risk. By Francesco Caramazza 567
Optimal and Sustainable Exchange Rate Regimes: A Two-Country Game-Theoretic Approach. By Masahiro Kawai 329
Stabilization Programs and External Enforcement: Experience from the 1920s. By Julio A. Santaella 584
F34 International Lending and Debt Problems
Endogenous Creditor Seniority and External Debt Values. By Michael Dooley and Mark R. Stone 395
A Note on Burden Sharing Among Creditors. By Michael Dooley, Richard Haas, and Steven Symansky 226
F36 Financial Aspects of Economic Integration
Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification. By Edward H. Gardner and William R.M. Perraudin 427
F4 Macroeconomic Aspects of International Trade and Finance
Foreign Exchange Markets in Russia: Understanding the Reforms, By Linda S. Goldberg 852
F41 Open Economy Macroeconomics
Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors. By Guillermo A. Calvo, Leonardo Leiderman, and Carmen M. Reinhart 108
Formulating a Policy Response: Reply to Snowden. By Guillermo A. Calvo, Leonardo Leiderman, and Carmen M. Reinhart 867
Formulating a Policy Response: Comment on Calvo, Leiderman, and Reinhart. By P. Nicholas Snowden 865
Optimal and Sustainable Exchange Rate Regimes: A Two-Country Game-Theoretic Approach. By Masahiro Kawai 329
Real Exchange Rate Targeting Under Imperfect Asset Substitutability. By J. Saul Lizondo 829
Wage and Public Debt Indexation. By Pablo E. Guidotti 237
F42 International Policy Coordination
Optimal and Sustainable Exchange Rate Regimes: A Two-Country Game-Theoretic Approach. By Masahiro Kawai 329
F43 Economic Growth of Open Economies
International Trade, Distortions, and Long-Run Economic Growth. By Jong-Wha Lee 299
G Financial Economics
G1 General Financial Markets
Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors. By Guillermo A. Calvo, Leonardo Leiderman, and Carmen M. Reinhart 108
Formulating a Policy Response: Reply to Snowden. By Guillermo A. Calvo. Leonardo Leiderman, and Carmen M, Reinhart 868
Formulating a Policy Response: Comment on Calvo, Leiderman, and Rinehart. By P. Nicholas Snowden 865
Market Discipline, By Timothy D, Lane 53
G11 Portfolio Choice
Portfolio Performance of the SDR and Reserve Currencies: Tests Using the ARCH Methodology. By Michael G. Papaioannou and Tugrul Temei 663
Risk Taking and Optimal Taxation in the Presence of Nontradable Human Capital. By Zuliu Hu 622
G12 Asset Pricing
The Yield Curve and Real Activity. By Zuliu Hu 781
H Public Economics
H2 Taxation and Subsidies
The Budget Deficit in Transition: A Cautionary Note. By Vito Tanzi 697
H21 Efficiency; Optimal Taxation
Risk Taking and Optimal Taxation in the Presence of Nontradable Human Capital. By Zuliu Hu 622
H23 Externalities; Redistributive Effects
Mineral Taxation, Market Failure, and the Environment. By Timothy R. Muzondo 152
H24 Income and Other Nonbusiness Taxes
Cash-Flow Tax. By Parthasarathi Shome and Christian Schutte 638
H25 Business Taxes
Cash-Flow Tax. By Parthasarathi Shome and Christian Schutte 638
H26 Tax Evasion
A Primer on Tax Evasion. By Vito Tanzi and Parthasarathi Shome 807
H3 Fiscal Policies and Behavior of Economic Agents
The Budget Deficit in Transition: A Cautionary Note. By Vito Tanzi 697
Fiscal Adjustment in Pakistan: Some Simulation Results. By Nadeem U. Haque and Peter J. Montiel 471
Market Discipline. By Timothy D. Lane 53
H5 National Government Expenditures and Related Policies
The Budget Deficit in Transition: A Cautionary Note, By Vito Tanzi 697
H6 National Budget, Deficit, and Debt
The Budget Deficit in Transition: A Cautionary Note. By Vito Tanzi 697
H86 Governmental Property
Tax Farming: A Radical Solution for Developing Country Tax Problems? By Peter Stella 217
H87 International Fiscal Issues
Cash-Flow Tax. By Parthasarathi Shome and Christian Schutte 638
J Labor and Demographic Economics
J31 Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc.
Skill Levels and the Cyclical Variability of Employment, Hours, and Wages. By Michael Keane and Eswar Prasad 711
J41 Contracts: Specific Human Capital, Matching Models, Efficiency Wage Models, and Internal Labor Markets
Economic Restructuring, Unemployment, and Growth in a Transition Economy. By Bankim Chadha, Fabrizio Coricelli, and Kornelia Krajnyak 744
Skill Levels and the Cyclical Variability of Employment, Hours, and Wages. By Michael Keane and Eswar Prasad 711
J6 Mobility, Unemployment, and Vacancies
Economic Restructuring, Unemployment, and Growth in a Transition Economy. By Bankim Chadha, Fabrizio Coricelli, and Kornelia Krajnyak 744
K Law and Economics
K42 Illegal Behavior and the Enforcement of Law
Tax Farming: A Radical Solution for Developing Country Tax Problems? By Peter Stella 217
L Industrial Organization
L33 Boundaries of Public and Private Enterprise; Privatization; Contracting Out
Tax Farming: A Radical Solution for Developing Country Tax Problems? By Peter Stella 217
N Economic History
N14 Europe: 1913–71
Stabilization Programs and External Enforcement: Experience from the 1920s. By Julio A. Santaella 584
N2 Financial Markets and Institutions
Foreign Exchange Markets in Russia: Understanding the Reforms. By Linda S. Goldberg 852
O Economic Development, Technological Change, and Growth
O11 Macroeconomic Analyses of Economic Development
Economic Restructuring, Unemployment, and Growth in a Transition Economy. By Bankim Chadha, Fabrizio Coricelli, and Kornelia Krajnyak 744
Fiscal Adjustment in Pakistan: Some Simulation Results. By Nadeem U. Haque and Peter J. Montiel 471
O32 Management of Technological Innovation and R&D
Capital and Trade as Engines of Growth in France: An Application of Johansen’s Cointegration Methodology. By David T. Coe and Reza Moghadam 542
O41 One, Two, and Multisector Growth Models
International Trade, Distortions, and Long-Run Economic Growth. By Jong-Wha Lee 299
Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach. By Malcolm Knight, Norman Loayza, and Delano Villanueva 512
O5 Economywide Country Studies
An Empirical Analysis of the Output Declines in Three Eastern European Countries. By Eduardo Borensztein, Dimitri G. Demekas, and Jonathan D. Ostry 1
O52 Europe
Capital and Trade as Engines of Growth in France: An Application of Johansen’s Cointegration Methodology. By David T. Coe and Reza Moghadam 542
O53 Asia including Middle East
Fiscal Adjustment in Pakistan: Some Simulation Results. By Nadeem U. Haque and Peter J. Montiel 471
P Economic Systems
P2 Socialist Systems
The Budget Deficit in Transition: A Cautionary Note. By Vito Tanzi 697
Economic Restructuring, Unemployment, and Growth in a Transition Economy. By Bankim Chadha, Fabrizio Coricelli, and Komelia Krajnyak 744
P20 Socialist Systems—General
Output Collapse in Eastern Europe: The Role of Credit. By Guillermo A. Calvo and Fabrizio Coricelli 32
P21 Planning and Coordination of Socialist Economies
Auctions: Theory and Applications. By Robert A. Feldman and Rajnish Mehra 485
P22 Prices
A Monetary Model of a Shortage Economy. By Shoukang Lin 369
P23 Markets
Auctions: Theory and Applications. By Robert A. Feldman and Rajnish Mehra 485
Monetary Model of a Shortage Economy. By Shoukang Lin 369
P3 Socialist Institutions
The Budget Deficit in Transition: A Cautionary Note, By Vito Tanzi 697
P5 Comparative Economic Systems
An Empirical Analysis of the Output Declines in Three Eastern European Countries. By Eduardo Borensztein, Dimitri G. Demekas, and Jonathan D. Ostry 1
Foreign Exchange Markets in Russia: Understanding the Reforms. By Linda S. Goldberg 852
P50 Comparative Economic Systems—General
Auctions: Theory and Applications. By Robert A, Feldman and Rajnish Mehra 485
In statistical matter throughout this issue,
dots (…) indicate that data are not available;
a dash (—) indicates that the figure is zero or less than half the final digit shown, or that the item does not exist;
a single dot (.) indicates decimals;
a comma (,) separates thousands and millions;
“billion” means a thousand million, and “trillion” means a thousand billion;
a short dash (—) is used between years or months (for example, 1991–93 or January-October) to indicate a total of the years or months inclusive of the beginning and ending years or months;
a stroke (/) is used between years (for example, 1992/93) to indicate a fiscal year or a crop year;
a colon (:) is used between a year and the number indicating a quarter within that year (for example, 1993:4);
components of tables may not add to totals shown because of rounding.