Peter Hole

Abstract

Peter Hole

STAFF PAPERS

Peter Hole

Chair, Editorial Committee

Ian S. McDonald

Editor and Deputy Chair

Thomas Walter

Assistant Editor

Editorial Committee

William E. Alexander

F. Charles Adams

David Burton

Peter Isard

G. Russell Kincaid

Malcolm D. Knight

Jorge Márquez-Ruarte

Paul R. Masson

Donald J. Mathieson

Guy M. Meredith

Ratna Sahay

Subhash M. Thakur

Howell H. Zee

Among the responsibilities of the International Monetary Fund, as set forth in its Articles of Agreement, is the obligation to “act as a centre for the collection and exchange of information on monetary and financial problems.” Stuff Papers makes available to a wider audience papers prepared by the members of the Fund staff. The views presented in the papers are those of the authors and are not to be interpreted as necessarily indicating the position of the Executive Board or of the Fund.

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The Editor invites from contributors outside the Fund brief comments (not more than 1,000 words) on published articles in Staff Papers. These comments should be addressed to the Editor, who will forward them to the author of the original article for reply. Both the comments and the reply will be considered for publication.

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© 1997 by the International Monetary Fund

International Standard Serial Number: ISSN 0020-8027

The U.S. Library of Congress has cataloged this serial publication as follows:

International Monetary Fund

Staff papers — International Monetary Fund. v. 1- Feb. 1950-[Washington] International Monetary Fund

v. tables, diagrs. 23 em.

Three no. a year, 1950- 1977: four no. a year. 1978-Indexes:

Vols. 1-27. 1950-80. I v.

ISSN 0020-8027 = Staff papers — International Monetary Fund.

1. Foreign exchange—Periodicals.

2. Commerce—Periodicals.

3. Currency question—Periodicals.

HG38KM5

332.082

53-35483

CONTENTS

Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile

ROBERT HOLZMANN

Fiscal Policy and Long-Run Growth

VITO TANZI and HOWELL H. ZEE

Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects

ALBERTO ALESINA and ROBERTO PEROTTI

Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States

GUY DEBELLE and DOUGLAS LAXTON

Comments

Internal Migration, Center-State Grants, and Economic Growth in the State of India: A Comment on Cashin and Sahay

M. GOVINDA RAO and KUNAL SEN

Internal Migration, Center-State Grants, and Economic Growth in the State of India: A Reply to Rao and Sen

PAUL CASHIN and RATNA SAHAY

IMF Working Papers

IMF Papers on Policy Analysis and Assessment