“The Italian Labor Market: Stylized Facts, Institutions, and Directions for Reform” by Eswar S. Prasad and Francesca Utili [WP/98/42]

“Anticipation and Surprises in Central Bank Interest Rate Policy: The Case of the Bundesbank” by Daniel C. Hardy [WP/98/43]

“Economic Announcements and the Timing of Public Debt Auctions” by Marco Rossi [WP/98/44]

“;Output Decline in Transition: The Case of Kazakhstan” by Mark DeBroeck and Kristina Kostial [WP/98/45]

“The Relative Importance of Political and Economic Variables in Creditworthiness Ratings” by NadeemU. Haque, Nelson Mark, and Donald J. Mathieson [WT798/46]

“Immigration Flows and Regional Labor Market Dynamics” by Dominique M. Gross [WJV98/47]

“’Globalization’ and Relocation in a Vertically Differentiated Industry” by Tito Cordelia and Isabel Grilo [WP/98/48]

“Trade Liberalization and Tax Reform in the Southern Mediterranean Region” by George T. Abed [WP/98/49]

“EMU, Adjustment, and Exchange Rate Variability” by Luca Antonio Ricci and Peter Isard [WP/98/50]

“The Canadian Agreement on Internal Trade: Developments and Prospects” by Michael P. Leidy [WP/98/51]

“From Transition to Market: Evidence and Growth Prospects” by Stanley Fischer, Ratna Sahay, and Carlos A. Vegh [WP/98/52]

“How Far is Eastern Europe from Brussels?” by Stanley Fischer, Ratna Sahay, and Carlos A. V6gh [WP/98/53]

’The Design of Instruments for Government Finance in an Islamic Economy” by Nadeem Ul Haque and Abbas Mirakhor [WP/98/54]

“Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries” by Francesco Caselli, Alberto Giovannini, and Timothy Lane [WP/98/55]

“Public Sector Efficiency arid Fiscal Austerity” by Nadeem Ul Haque, Peter J. Montiel, and Stephen Sheppard [WP/98/56]

“Money Demand and Regional Monetary Policy in the West African Economic and Monetary Union” by Philipp C. Rother [WP/98/57]

“Competitiveness and the Evolution of the Real Exchange Rate in Chile” by Martine Guerguil and Martin Kaufman [WP/98/58]

“Interest Rate Spreads in the Eastern Caribbean” by Ruby Randall [WP/98/59]

“Growth, Trade, and Deindustrialization” by Robert Rowthorn and Ramana Ramaswamy [WP/98/60]

“Rethinking Public Pension Reform Initiatives” by Peter S. Heller [WP/98/61]

“Multiple Equilibrium, Variability, and the Development Process” by Luis Carranza and Jose’ Galdn-Sanchez [WP/98/62]

“Corruption Around the World: Causes, Consequences, Scope, and Cures” by Vito Tanzi [WP/98/63]

“The Domestic and Foreign Price Gaps in the P-Star Model: Evidence from Spain” by Alicia Garci’a-Herrero and Manoj Vasant Pradhan [WP/98/64]

“Central Bank Vulnerability and the Credibility of Commitments: A Value-at-Risk Approach to Currency Crises” by Mario Blejer and Liliana Schumacher [WP/98/65]

“The Fiscal Effects of Monetary Policy” by Mommi Dahan [WP/98/66] “Exchange Rates and Economic Fundamentals: A Methodological Comparison of BEERs and FEERs” by Peter B. Clark and Ronald MacDonald [WP/98/67]

“Inflation, Disinflation, and Growth” by Atish Ghosh and Steven Phillips [WP/98/68] “Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions” by Tamim Bayoumi and Ronald MacDonald [WP/98/69] “Government Expenditure Arrears: Securitization and Other Solutions” by Alberto M. Ramos [WP/98/70]

“Current Accounts: What Is Their Relevance for Economic Policymaking?” by Malcolm Knight and Fabio Scacciavillani [WP/98/71]

“External Debt Histories of Ten Low-Income Developing Countries: Lessons from Their Experience” by Ray Brooks, Mariano Cortes, and Francesca Fornasari [WP/98/72]

“Carbon Taxes: Their Macroeconomic Effects and Prospects for Global Adoption A Survey of the Literature” by Javier Cuervo and Ved P. Gandhi [WP/98/73]

“The Italian Social Protection System: The Poverty of Welfare” by Massimo V. Rostagno and Francesca Utili [WP/98/74]

“The Macroeconomic Effects of Environmental Taxes: A Closer Look at the Feasibility of “Win-Win” Outcomes” by Jenny E. Ligthart [WP/98/75]

“Does Corruption Affect Income Inequality and Poverty?” by Sanjeev Gupta, Hamtd Davoodi, and Rosa Alonso-Terme [WP/98/76]

“How Do the Skilled and the Unskilled Respond to Regional Shocks? The Case of Spain” by Paolo Mauro and Antonio Spilimbergo [WP/98/77]

“Reducing Inflation: Lessons from Albania’s Early Success” by Caryl J. McNeilly and Doris Schiesser-Gachnang [WP/98/78]

“Responses of the Stock Market to Macroeconomic Announcements Across Economic States” by Li Li and Zuliu F. Hu [WP/98/79]

“A Model for Financial Programming” by Jan G. Mikkelsen [WP/98/80]

“Exchange and Capital Controls as Barriers to Trade” by Natalia T. Tamirisa[WP/98/81]

“Selected Transition and Mediterranean Countries: An Institutional Primer on EMU and EU Relations” by Heliodoro Temprano-Arroyo and Robert A. Feldman [WP/98/82]

“Financial Liberalization and Financial Fragility” by Asti Demirguc-Kunt and Enrica Detragiache [WP/98/83]

“Trading Blocs and Welfare: How Trading Bloc Members Are Affected by New Entrants” by R. Scott Hacker and Qaizar Hussain [WP/98/84]

“The Effects of European Integration on the Profitability of Industries” by Dalia S. Hakura [WP/98/85]

“Japanese Effective Exchange Rales and Determinants: Prices. Real Interest Rates and Actual and Optimal Current Accounts” by Jun Nagayasu [WP/98/86]

“The United Kingdom’s Experience with Inflation Targeting” by Timothy Lane and Skander Van Den Heuvel [WP/98/87]

“The Price Incentive to Smuggle and the Cocoa Supply in Ghana” by Ales Bulfr [WP/98/88j

“Current Account Reversals and Currency Crises: Empirical Regularities” by Gian Maria Milesi-Ferretti and Assaf Razin [WP/98/89]

“Intermediation Spreads in a Dual Currency Economy: Argentina in the 1990s” by LuisCatao [WP/98/90]

“Leading Indicators of Banking Crises: Was Asia Different?” by Daniel C. Hardy and Ceyla Pazarbašioğlu [WP/98/91]

“Asymmetric Information and the Market Structure of the Banking Industry” by Giovanni Dell’Ariccia [WP/98/92]

“Bank Lending and Interest Rate Changes in a Dynamic Matching Model” by Giovanni Dell’Ariccia and Pietro Garibaldi [WP/98/93]

“North-South Trade: Is Africa Unusual?” by David T. Coe and Alexander W. Hoffmaister [WP/98/94]

“Liberating Supply: Fiscal Policy and Technological Innovation in a Multicountry Model” by Tamim Bayoumi, David T. Coe, and Douglas Laxton [WP/98/95] “Banking System Restructuring in Kazakhstan” by David S. Hoelscher [WP/98/96]

“Financial Opening, Deposit Insurance, and Risk in a Model of Banking Competition” by Tito Cordelia and Eduardo Levy Yeyati [WP/98/97]