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 1994:1 follows.


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 1994:1 follows.

“ERM Money Supplies and the Transition to EMU,” by Marcel Cassard, Timothy Lane, and Paul R. Masson [94/1]

“Long Memory Processes and Chronic Inflation: Detecting Homogeneous Components in a Linear Rational Expectation Model,” by Fabio Scacciavillani [94/2]

“Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies,” by Guillermo A. Calvo and Manmohan S. Kumar [94/3]

The U.S. Public Debt: Implications for Growth,” by Carlos M. Asilis [94/4]

“Comparative Advantage, Exchange Rates, and G–7 Sectoral Trade Balances,” by Stephen S. Golub [94/5]

“Measuring the Transition: A User’s View on National Accounts in Russia,” by Vincent Koen [94/6]

“Commodity Prices: Cyclical Weakness or Secular Decline?” by Carmen M. Reinhart and Peter Wickham [94/7]

“Export Instability and the External Balance in Developing Countries,” by Atish R. Ghosh and Jonathan D. Ostry [94/8]

“The Macroeconomic Determinants of Commodity Prices,” by Eduardo Borensztein and Carmen M. Reinhart [94/9]

“Shortages Under Free Prices: The Case of Ukraine in 1992,” by Alexander Sundakov, Rolando Ossowski, and Timothy Lane [94/10]

“Monetary Policy in Unified Currency Areas: The Cases of the CAMA and ECCA During 1976–90,” by Jean–Claude Nascimento [94/11]

“Real Estate Price Inflation, Monetary Policy, and Expectations in the United States and Japan,” by Hossein Samiei and Garry J. Schinasi [94/12]

“The Payments Systems Reforms and Monetary Policy in Emerging Market Economies in Central and Eastern Europe,” by Tomas J. T. Balifio, Juhi Dhawan, and V. Sundararajan [94/13]

“Working Paper Summaries,” compiled by the Editorial Division [94/14]

“Endogenous Time Preference and Endogenous Growth,” by Howell H. Zee [94/15]

“Geography, Trade Patterns, and Economic Policy,” by Carlos M. Asilis and Luis A. Rivera–Batiz [94/16]

“Robustness of Equilibrium Exchange Rate Calculations to Alternative Assumptions and Methodologies,” by Tamim Bayoumi, Peter Clark, Steve Symansky, and Mark Taylor [94/17]

“Withholding Taxes and the Cost of Public Debt,” by Harry Huizinga [94/18]

“Real Exchange Rates and the Prices of Nontradabie Goods,” by Stefano Micossi and Gian Maria Milesi–Ferretti [94/19]

“Realignment Expectations, Forward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization,” by Peter Isard [94/20]

“Exchange Market Pressures and Speculative Capital Flows in Selected European Countries,” by Inci Otker and Ceyla Pazarhasioglu [94/21]

“Targeting the Real Exchange Rate: Theory and Evidence,” by Guillermo A. Calvo, Carmen M. Reinhart, and Carlos A. Vegh [94/22]

“Economics, Politics, and Ethics of Primary Commodity Development: How Can Poor Countries in Africa Benefit the Most?” by Lima Lele, James Gockowski, and Kofi Adu–Nyako [94/23]

“Systemic Requirements for Monetary Stability in Eastern Europe and the Former Soviet Union,” by Jacek Rostowski [94/24]

“The ‘Hard’ SDR: An Exploratory Analysis,” by Subhash Thakur [94/25]

“An Overview of the Japanese Distribution System: The Case of the Automobile Industry,” by Sayuri Shirai [94/26]

“Core Functional Requirements for Fiscal Management Systems,” by Ali Hashim and Bill Allan [94/27]

“Changing Patterns in Public Expenditure Management: An Overview,” by A. Premchand [94/28]

“Competitiveness Indicators: A Theoretical and Empirical Assessment,” by Ian W. Marsh and Stephen P. Tokarick [94/29]

“Labor Market Institutions and Flexibility in Italy: A Critical Evaluation and Some International Comparisons,” Dimitri G. Demekas [94/30]

“The Use of Financial Spreads as Indicator Variables: Evidence for the U.K. and Germany,” by E.P. Davis and S.G.B. Henry [94/31]

“Taxation of Petroleum Products: Theory and Empirical Evidence,” by Sanjeev Gupta and Waiter Mahler [94/32]

“International Evidence on Tradables and Nontradables Inflation,” by Jose De Gregorio, Alberto Giovannini, and Holger C. Wolf [94/33]

“Financial and Enterprise Restructuring in Emerging Market Economies,” by Steven M. Fries and Timothy D. Lane [94/34]

“Drift in Producer Price Indexes for the Former Soviet Union (FSU) Countries,” by Francois Lequiller and Kimberly D. Zieschang [94/35]

“Economic Determinants of Fund Financial Arrangements,” by Malcolm Knight and Julio A. Santaella [94/36]