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 1994:2 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 1994:2 follows.

“Improving the Management of a Central Bank—A Case Study” by John Mendzela [94/37]

“Tax Policy Implications in Endogenous Growth Models” by Bin Xu [94/38]

“Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy” by Carlo Cottarelli and Angeliki Kourelis [94/39]

“A Framework for the Analysis of Pension and Unemployment Benefit Reform in Poland” by William R.M. Perraudin [94/40]

“The Internationalization of Yen and Key Currency Questions” by Toru Iwami [94/41]

“A Formal Model of Optimum Currency Areas” by Tamim Bayoumi [94/42] “Interenterprise Arrears in Post-Communist Economies” by Jacek Rostowski [94/43]

“Information Externalities Affecting the Dynamic Pattern of Foreign Direct Investment: The Case of China” by Dongpei Huang and Sayuri Shirai [94/44]

“Trade Reforms of Uncertain Duration and Real Uncertainty: A First Approximation” by Guillermo A. Calvo and Enrique G. Mendoza [94/45]

“Searching for the Virtues of the European Model” by Gilles Saint-Paul [94/46]

“Credit Markets with Differences in Abilities: Education, Distribution, and Growth” by José De Gregorio and Se-Jik Kim [94/47]

“Operational Issues Related to the Functioning of Interbank Foreign Exchange Markets in Selected African Countries” by Calvin McDonald and Yin-Fun Lum [94/48]

“Credibility of Policies Versus Credibility of Policymakers” by Allan Drazen and Paul R. Masson [94/49]

“The Trade and Welfare Consequences of U.S. Export-Enhancing Tax Provisions” by Donald Rousslang and Stephen Tokarick [94/50]

“Refinance Instruments: Lessons from Their Use in Some Industrialized Countries” by Bernard Laurens [94/51]

“Pensions, Price Shocks, and Macroeconomic Stability in Transition Economies: Illustrations from Belarus” by Ehtisham Ahmad, Sergio Lugaresi, Alex Mourmouras, and Jean-Luc Schneider [94/52]

“Supply Pressure and the Export-Import Performance in the Japan-U.S. Bilateral Trade” by Yusuke Onitsuka [94/53]

“Interenterprise Arrears in a Post-Command Economy: Thoughts from a Romanian Perspective” by Daniel Daianu [94/54]

“The Arab Maghreb Union” by Mohamed Finaish and Eric Bell [94/55]

“Macroeconomic Adjustment with Segmented Labor Markets” by Pierre-Richard Agénor and Joshua Aizenman [94/56]

“Varieties of Monetary Reforms” by Pierre L. Siklos [94/57]

“Why is Unemployment in France So High?” by Reza Moghadam [94/58]

“Nigeria’s Non-Oil Exports: Determinants of Supply and Demand, 1970–90” by Inutu Lukonga [94/59]

“Do Long-Run Productivity Differentials Explain Long-Run Real Exchange Rates?” by Patrick K. Asea and Enrique G. Mendoza [94/60]

“Issues Concerning Nominal Anchors for Monetary Policy” by Robert P. Flood and Michael Mussa [94/61]

“Government Securities Versus Central Bank Securities in Developing Open Market Operations—Evaluation and Need for Coordinating Arrangements” by Marc Quintyn [94/62]

“Financial Markets and Inflation Under Imperfect Information” by José De Gregorio and Federico Sturzenegger [94/63]

“Are the Unemployed Unemployable?” by Gilles Saint-Paul [94/64]

“Relative Prices and Economic Adjustment in the U.S. and EU: A Real Story About European Monetary Union” by Tamim Bayoumi and Alun Thomas [94/65]

“Exchange Rate Determinants in Russia: 1992–93” by Vincent Koen and Eric Meyermans [94/66]

“Cash Shortage in the Former Soviet Union” by Daniel C. Hardy and Ashok K. Lahiri [94/67]

“Output Decline and Government Expenditures in European Transition Economies” by Ke-young Chu and Gerd Schwartz [94/68]

“Military Expenditure and Arms Trade: Alternative Data Sources” by Nancy Happe and John Wakeman-Linn [94/69]

“How Does Learning Affect Inflation After a Shift in the Exchange Rate Regime?” by Laura Papi [94/70]

“The Path of Output from Plan to Market” by Thorvaldur Gylfason [94/71]

“Determining the Value of a Financial Unit of Account Based on Composite Currencies: The Case of the Private ECU” by David Folkerts-Landau and Peter M. Garber [94/72]

“The Changing Mix of Disequilibria During Transition: A Romanian Back-ground” by Daniel Daianu [94/73]

“Fiscal Federalism in Europe—Is It a Necessary Precondition for a Successful European Economic and Monetary Integration?” by Norbert Berthold [94/74]

“The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs” by Pierre-Richard Agénor [94/75]

“The Main Determinants of Inflation in Nigeria” by Gary G. Moser [94/76]