Authors

Alesina, Alberto, and Roberto Perotti. The Political Economy of Budget Deficits 1

Bayoumi, Tamim, and Barry Eichengreen. Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization 32

Bayoumi, Tamim, and Ronald MacDonald. Consumption, Income, and International Capital Market Integration 552

Bayoumi, Tamim, and Alun Thomas. Relative Prices and Economic Adjustment in the United States and the European Union: A Real Story About EMU 108

Blejer, Mario I., Mohsin S. Khan, and Paul R. Masson. Early Contributions of Staff Papers to International Economics 707

Cashin, Paul. Government Spending, Taxes, and Economic Growth 237

Cashin, Paul, and Norman Loayza. Paradise Lost? Growth, Convergence, and Migration in the South Pacific 608

Chadha, Bankim. Disequilibrium in the Labor Market in South Africa. 642

Cottarelli, Carlo, Giovanni Ferri, and Andrea Generale. Bank Lending Rates and Financial Structure in Italy: A Case Study 670

Eichengreen, Barry, and Tamim Bayoumi. Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization 32

El-Erian, Mohamed A., and Manmohan S. Kumar. Emerging Equity Markets in Middle Eastern Countries 313

Faruquee, Hamid. Long-Run Determinants of the Real Exchange Rate: A Stock-Flow Perspective 80

Faruquee, Hamid. Pricing to Market and the Real Exchange Rate 855

Ferri, Giovanni, Carlo Cottarelli, and Andrea Generale. Bank Lending Rates and Financial Structure in Italy: A Case Study 670

Flanagan, Robert J. Wage Structures in the Transition of the Czech Economy 836

Folkerts-Landau, David, and Peter M. Garber. Determining the Value of a Financial Unit of Account Based on Composite Currencies: The Case of the Private ECU 134

Garber, Peter M., and David Folkerts-Landau. Determining the Value of a Financial Unit of Account Based on Composite Currencies: The Case of the Private ECU 134

Garber, Peter M., and Michael G. Spencer. Foreign Exchange Hedging and the Interest Rate Defense 490

Generale, Andrea, Carlo Cottarelli, and Giovanni Ferri. Bank Lending Rates and Financial Structure in Italy: A Case Study 670

Grilli, Vittorio, and Gian Maria Milesi-Ferretti. Economic Effects and Structural Determinants of Capital Controls 517

Guitián, Manuel. Conditionality: Past, Present, Future 792

Haas, Richard D., and Donald J. Mathieson. Establishing Monetary Control in Financial Systems with Insolvent Institutions 184

Haque, Nadeem Ul, and Se-Jik Kim. “Human Capital Flight”: Impact of Migration on Income and Growth 577

Henry, Jérôme, and Jens Weidmann. Comment on Gardner and Perraudin 894

Hossain, Shahabuddin M. The Equity Impact of the Value-Added Tax in Bangladesh 411

James, Harold. The Historical Development of the Principle of Surveillance 762

Khan, Mohsin S., Mario I. Blejer, and Paul R. Masson. Early Contributions of Staff Papers to International Economics 707

Kim, Se-Jik and Nadeem Ul Haque. “Human Capital Flight”: Impact of Migration on Income and Growth 577

Kumar, Manmohan S., and Mohamed A. El-Erian. Emerging Equity Markets in Middle Eastern Countries 313

Laxton, Douglas, Guy Meredith, and David Rose. Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications 344

Levy, Joaquim, and Jonathan D. Ostry. Household Saving in France: Stochastic Income and Financial Deregulation 375

Loayza, Norman, and Paul Cashin. Paradise Lost? Growth, Convergence, and Migration in the South Pacific 608

MacDonald, Ronald, and Tamim Bayoumi. Consumption, Income, and International Capital Market Integration 552

MacDonald, Ronald. Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence 437

Masson, Paul R., Mario I. Blejer, and Mohsin S. Khan. Early Contributions of Staff Papers to International Economics 707

Mathieson, Donald J., and Richard D. Haas. Establishing Monetary Control in Financial Systems with Insolvent Institutions 184

Meredith, Guy, Douglas Laxton, and David Rose. Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications 344

Milesi-Ferretti, Gian Maria, and Vittorio Grilli. Economic Effects and Structural Determinants of Capital Controls 517

Moghadam, Reza, and Caroline Van Rijckeghem. Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: The Case of Belgium 882

Moser, Gary G. The Main Determinants of Inflation in Nigeria 270

Ostry, Jonathan D., and Joaquim Levy. Household Saving in France: Stochastic Income and Financial Deregulation 375

Perotti, Roberto, and Alberto Alesina. The Political Economy of Budget Deficits 1

Polak, Jacques J. Fifty Years of Exchange Rate Policy and Research at the International Monetary Fund 734

Reinhart, Carmen M. Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries 290

Roldós, Jorge E. Supply-Side Effects of Disinflation Programs 158

Rose, David, Douglas Laxton, and Guy Meredith. Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications 344

Saal, Matthew I., and Lorena M. Zamalloa. Use of Central Bank Credit Auctions in Economies in Transition 202

Sarel, Michael. Demographic Dynamics and the Empirics of Economic Growth 398

Spencer, Michael G., and Peter M. Garber. Foreign Exchange Hedging and the Interest Rate Defense 490

Thomas, Alun, and Tamim Bayoumi. Relative Prices and Economic Adjustment in the United States and the European Union: A Real Story About EMU 108

Tokarick, Stephen. External Shocks, the Real Exchange Rate, and Tax Policy 49

Van Rijckeghem, Caroline, and Reza Moghadam. Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: The Case of Belgium 882

Weidmann, Jens, and Jérôme Henry. Comment on Gardner and Perraudin 894

Zamalloa, Lorena M., and Matthew I. Saal. Use of Central Bank Credit Auctions in Economies in Transition 202

Titles

Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications. By Douglas Laxton, Guy Meredith, and David Rose 344

Bank Lending Rates and Financial Structure in Italy: A Case Study. By Carlo Cottarelli, Giovanni Ferri, and Andrea Generate 670

Comment on Gardner and Perraudin. By Jérôme Henry and Jens Weidmann 894

Conditionality: Past, Present, Future. By Manuel Guitián 792

Consumption, Income, and International Capital Market Integration. By Tamim Bayoumi and Ronald MacDonald 552

Demographic Dynamics and the Empirics of Economic Growth. By Michael Sarel 398

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 134

Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries. By Carmen M. Reinhart 290

Disequilibrium in the Labor Market in South Africa. By Bankim Chadha 642

Early Contributions of Staff Papers to International Economics. By Mario I. Blejer, Mohsin S. Khan, and Paul R. Masson 707

Economic Effects and Structural Determinants of Capital Controls. By Vittorio Grilli and Gian Maria Milesi-Ferretti 517

Emerging Equity Markets in Middle Eastern Countries. By Mohamed A. El-Erian and Manmohan S. Kumar 313

The Equity Impact of the Value-Added Tax in Bangladesh. By Shahabuddin M. Hossain 411

Establishing Monetary Control in Financial Systems with Insolvent Institutions. By Donald J. Mathieson and Richard D. Haas 184

External Shocks, the Real Exchange Rate, and Tax Policy. By Stephen Tokarick 49

Fifty Years of Exchange Rate Policy and Research at the International Monetary Fund. By Jacques J. Polak 734

Foreign Exchange Hedging and the Interest Rate Defense. By Peter M. Garber and Michael G. Spencer 490

Government Spending, Taxes, and Economic Growth. By Paul Cashin.. 237

The Historical Development of the Principle of Surveillance. By Harold James 762

Household Saving in France: Stochastic Income and Financial Deregulation. By Jonathan D. Ostry and Joaquim Levy 375

“Human Capital Flight”: Impact of Migration on Income and Growth. By Nadeem Ul Haque and Se-Jik Kim 577

Long-Run Determinants of the Real Exchange Rate: A Stock-Flow Perspective. By Hamid Faruqee 80

Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence. By Ronald MacDonald 437

The Main Determinants of Inflation in Nigeria. By Gary G. Moser 270

Paradise Lost? Growth, Convergence, and Migration in the South Pacific. By Paul Cashin and Norman Loayza 608

The Political Economy of Budget Deficits. By Alberto Alesina and Roberto Perotti 1

Pricing to Market and the Real Exchange Rate. By Hamid Faruqee 855

Relative Prices and Economic Adjustment in the United States and the European Union: A Real Story About EMU. By Tamim Bayoumi and Alun Thomas 108

Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization. By Tamim Bayoumi and Barry Eichengreen 32

Supply-Side Effects of Disinflation Programs. By Jorge E. Roldós 158

Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: The Case of Belgium. By Reza Moghadam and Caroline Van Rijckeghem 882

Use of Central Bank Credit Auctions in Economies in Transition. By Matthew I. Saal and Lorena M. Zamalloa 202

Wage Structures in the Transition of the Czech Economy. By Robert J. Flanagan 836

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).

B Methodology and History of Economic Thought

B20 History of Economic Thought Through 1925—General

• Early Contributions of Staff Papers to International Economics. By Mario I. Blejer, Mohsin S. Khan, and Paul R. Masson 707

C Mathematical and Quantitative Methods

C51 Model Construction and Estimation

• Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications. By Douglas Laxton, Guy Meredith, and David Rose 344

C68 Computable General Equilibrium Models

• External Shocks, the Real Exchange Rate, and Tax Policy. By Stephen Tokarick 49

E Macroeconomics and Monetary Economics

E12 General Aggregate Models—Keynes, Keynesian; Post-Keynesian

• Pricing to Market and the Real Exchange Rate. By Hamid Faruquee 855

E21 Consumption; Saving

• Consumption, Income, and International Capital Market Integration. By Tamim Bayoumi and Ronald MacDonald 552

• Household Saving in France: Stochastic Income and Financial Deregulation. By Jonathan D. Ostry and Joaquim Levy 375

E24 Employment; Unemployment; Wages

• Disequilibrium in the Labor Market in South Africa. By Bankim Chadha 642

E31 Price Level; Inflation; Deflation

• Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications. By Douglas Laxton, Guy Meredith, and David Rose 344

• The Main Determinants of Inflation in Nigeria. By Gary G. Moser 270

E37 Prices, Business Fluctuations, and Cycles—Forecasting and Simulation

• The Main Determinants of Inflation in Nigeria. By Gary G. Moser 270

E42 Monetary Standards and Regimes; Government and the Monetary System

• 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 134

E43 Determination of Interest Rates; Term Structure of Interest Rates

• Bank Lending Rates and Financial Structure in Italy: A Case Study. By Carlo Cottarelli, Giovanni Ferri, and Andrea Generate 670

• 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 134

E44 Financial Markets and the Macroeconomy

• Bank Lending Rates and Financial Structure in Italy: A Case Study. By Carlo Cottarelli, Giovanni Ferri, and Andrea Generale 670

E5 Monetary Policy, Central Banking, and the Supply of Money and Credit

• Conditionality: Past, Present, Future. By Manuel Guitián 792

E52 Monetary Policy (Targets, Instruments, and Effects)

• Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications. By Douglas Laxton, Guy Meredith, and David Rose 344

• Bank Lending Rates and Financial Structure in Italy: A Case Study. By Carlo Cottarelli, Giovanni Ferri, and Andrea Generale 670

• Establishing Monetary Control in Financial Systems with Insolvent Institutions. By Donald J. Mathieson and Richard D. Haas 184

• Use of Central Bank Credit Auctions in Economies in Transition. By Matthew I. Saal and Lorena M. Zamalloa 202

E58 Central Banks and Their Policies

• Bank Lending Rates and Financial Structure in Italy: A Case Study. By Carlo Cottarelli, Giovanni Ferri, and Andrea Generale 670

• 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 134

• Establishing Monetary Control in Financial Systems with Insolvent Institutions. By Donald J. Mathieson and Richard D. Haas 184

• Use of Central Bank Credit Auctions in Economies in Transition. By Matthew I. Saal and Lorena M. Zamalloa 202

E61 Policy Objectives; Policy Designs and Consistency; Policy Coordination

• Conditionality: Past, Present, Future. By Manuel Guitián 792

• The Historical Development of the Principle of Surveillance. By Harold James 762

E62 Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation

• Government Spending, Taxes, and Economic Growth. By Paul Cashin 237

• Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization. By Tamim Bayoumi and Barry Eichengreen 32

E65 Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook—Studies of Particular Policy Episodes

• Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: The Case of Belgium. By Reza Moghadam and Caroline Van Rijckeghem 882

F International Economics

F11 Neoclassical Models of Trade

• Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries. By Carmen M. Reinhart 290

F12 Models of Trade with Imperfect Competition and Scale Economics

• Pricing to Market and the Real Exchange Rate. By Hamid Faruquee 855

F13 Commercial Policy; Protection; Promotion; Trade Negotiations

• External Shocks, the Real Exchange Rate, and Tax Policy. By Stephen Tokarick 49

F14 Country and Industry Studies of Trade

• Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries. By Carmen M. Reinhart 290

F15 Economic Integration

• Relative Prices and Economic Adjustment in the United States and the European Union: A Real Story About EMU. By Tamim Bayoumi and Alun Thomas 108

F21 International Investment; Long-term Capital Movements

• Economic Effects and Structural Determinants of Capital Controls. By Vittorio Grilli and Gian Maria Milesi-Ferretti 517

F22 International Migration

• Paradise Lost? Growth, Convergence, and Migration in the South Pacific. By Paul Cashin and Norman Loayza 608

F3 International Finance

• Foreign Exchange Hedging and the Interest Rate Defense. By Peter M. Garber and Michael G. Spencer 490

F31 Foreign Exchange

• Fifty Years of Exchange Rate Policy and Research at the International Monetary Fund. By Jacques J. Polak 734

• Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence. By Ronald MacDonald 437

• Long-Run Determinants of the Real Exchange Rate: A Stock-Flow Perspective. By Hamid Faruqee 80

• 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 134

• Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries. By Carmen M. Reinhart 290

F32 Current Account Adjustment; Short-term Capital Movements

• Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries. By Carmen M. Reinhart 290

• Economic Effects and Structural Determinants of Capital Controls. By Vittorio Grilli and Gian Maria Milesi-Ferretti 517

F33 International Monetary Arrangements and Institutions

• Conditionality: Past, Present, Future. By Manuel Guitián 792

• Fifty Years of Exchange Rate Policy and Research at the International Monetary Fund. By Jacques J. Polak 734

• Relative Prices and Economic Adjustment in the United States and the European Union: A Real Story About EMU. By Tamim Bayoumi and Alun Thomas 108

F36 Financial Aspects of Economic Integration

• Consumption, Income, and International Capital Market Integration. By Tamim Bayoumi and Ronald MacDonald 552

F41 Open Economy Macroeconomics

• Long-Run Determinants of the Real Exchange Rate: A Stock-Flow Perspective. By Hamid Faruqee 80

• Pricing to Market and the Real Exchange Rate. By Hamid Faruquee 855

• Supply-Side Effects of Disinflation Programs. By Jorge E. Roldós 158

F42 Macroeconomic Aspects of International Trade and Finance— International Policy Coordination

• The Historical Development of the Principle of Surveillance. By Harold James 762

G Financial Economics

G14 Information and Market Efficiency; Event Studies

• Emerging Equity Markets in Middle Eastern Countries. By Mohamed A. El-Erian and Manmohan S. Kumar 313

G15 International Financial Markets

• Emerging Equity Markets in Middle Eastern Countries. By Mohamed A. El-Erian and Manmohan S. Kumar 313

H Public Economics

H20 Taxation and Subsidies—General

• “Human Capital Flight”: Impact of Migration on Income and Growth. By Nadeem Ul Haque and Se-Jik Kim 577

H22 Taxation and Subsidies—Incidence

• The Equity Impact of the Value-Added Tax in Bangladesh. By Shahabuddin M. Hossain 411

H23 Taxation and Subsidies—Externalities; Redistributive Effects

• The Equity Impact of the Value-Added Tax in Bangladesh. By Shahabuddin M. Hossain 411

H6 National Budget, Deficit, and Debt

• The Political Economy of Budget Deficits. By Alberto Alesina and Roberto Perotti 1

H61 Budget; Budget Systems

• Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization. By Tamim Bayoumi and Barry Eichengreen 32

H74 State and Local Borrowing

• Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization. By Tamim Bayoumi and Barry Eichengreen 32

I Health, Education, and Welfare

I30 Welfare and Poverty—General

• Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: The Case of Belgium. By Reza Moghadam and Caroline Van Rijckeghem 882

J Labor and Demographic Economies

J00 General

• Wage Structures in the Transition of the Czech Economy. By Robert J. Flanagan 836

J11 Demographic Trends and Forecasts

• Demographic Dynamics and the Empirics of Economic Growth. By Michael Sarel 398

J21 Labor Force and Employment, Size, and Structure

• Demographic Dynamics and the Empirics of Economic Growth. By Michael Sarel 398

J23 Employment Determination; Demand for Labor

• Disequilibrium in the Labor Market in South Africa. By Bankim Chadha 642

J3 Wages, Compensation, and Labor Costs

• Wage Structures in the Transition of the Czech Economy. By Robert J. Flanagan 836

J31 Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc.

• Disequilibrium in the Labor Market in South Africa. By Bankim Chadha 642

J4 Particular Labor Markets

• Wage Structures in the Transition of the Czech Economy. By Robert J. Flanagan 836

J5 Labor-Management Relations, Trade Unions, and Collective Bargaining

• Wage Structures in the Transition of the Czech Economy. By Robert J. Flanagan 836

O Economic Development, Technological Change, and Growth

O15 Human Resources; Income Distribution; Migration

• “Human Capital Flight”: Impact of Migration on Income and Growth. By Nadeem Ul Haque and Se-Jik Kim 577

O19 International Linkages to Development; Role of International Organizations

• The Historical Development of the History of Surveillance. By Harold James 762

O40 Economic Growth and Aggregate Productivity—General

• “Human Capital Flight”: Impact of Migration on Income and Growth. By Nadeem Ul Haque and Se-Jik Kim 577

O41 One, Two, and Multisector Growth Models

• Government Spending, Taxes, and Economic Growth. By Paul Cashin 237

O47 Measurement of Economic Growth; Aggregate Productivity

• Demographic Dynamics and the Empirics of Economic Growth. By Michael Sarel 398

• Paradise Lost? Growth, Convergence, and Migration in the South Pacific. By Paul Cashin and Norman Loayza 608

O56 Economywide Country Studies—Oceania

• Paradise Lost? Growth, Convergence, and Migration in the South Pacific. By Paul Cashin and Norman Loayza 608

P Economic Systems

P2 Socialist Systems

• Wage Structures in the Transition of the Czech Economy. By Robert J. Flanagan 836

P21 Socialist Systems—Planning, Coordination, and Reform

• Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: The Case of Belgium. By Reza Moghadam and Caroline Van Rijckeghem 882

P5 Comparative Economic Systems

• Wage Structures in the Transition of the Czech Economy. By Robert J. Flanagan 836

P52 Comparative Studies of Particular Economies

• Emerging Equity Markets in Middle Eastern Countries. By Mohamed A. El-Erian and Manmohan S. Kumar 313

R Urban, Rural, and Regional Economics

R11 Analysis of Growth, Development, and Changes

• Relative Prices and Economic Adjustment in the United States and the European Union: A Real Story About EMU. By Tamim Bayoumi and Alun Thomas 108

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, 1992-94 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, 1993/94) 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, 1994:1);

• components of tables may not add to totals shown because of rounding.