IMG staff papers
Robert Flood
Editor and Committee Chair
Ayhan Kose
Co-Editor
David Einhorn
Assistant Editor
Jelena Kmezic
Research Assistant
Rosalind Oliver
Administrative Coordinator
Editorial Committee
Tito Cordella
Giovanni Dell’Ariccia
Enrica Detragiache
Atish R. Ghosh
Olivier Jeanne
Andrei Kirilenko
Laura Kodres
Douglas Laxton
Prakash Loungani
Donald J. Mathieson
Gian Maria Milesi-Ferretti
Chris Papageorgiou
Jorge Roldos
Antonio Spilimbergo
The objective of IMF Staff Papers is to publish high-quality research produced by IMF staff and invited guests on a variety of topics of interest to a broad audience including academics and policymakers in the member countries of the Fund. The papers selected for publication in the journal are subject to an extensive review process using both internal and external referees. IMF Staff Papers also welcomes outside comments, criticisms, and interesting replications of published work. The views presented in published papers are those of the authors and should not be attributed to or reported as reflecting the position of the IMF, its Executive Board, or any other organization mentioned herein.
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Internet: www.palgrave-journals.com/imfsp
EDITOR’S NOTE
The Editor invites from contributors outside the IMF brief comments (not more than 1,000 words) on published articles in IMF 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.
The data underlying articles published in IMF Staff Papers (where available) may be obtained from the journal’s website (www.palgrave-journals.com/imfsp). Readers are invited to use these data to expand on the material in the articles, and the journal will consider publishing such work.
© 2008 by the International Monetary Fund
ISBN 978-1-58906-722-6
International Standard Serial Number: ISSN 1020–7635
This serial publication is catalogued as follows:
International Monetary Fund
IMF staff papers — International Monetary Fund. v. 1-Feb. 1950-[Washington] International Monetary Fund.
v. tables, diagrs. 26 cm.
Three no. a year, 1950–1977; four no. a year, 1978-
Indexes:
Vols. 1–27, 1950–80, 1 v.
ISSN 1020–7635 = IMF staff papers — International Monetary Fund.
1. Foreign exchange—Periodicals. 2. Commerce—Periodicals.
3. Currency question—Periodicals.
HG3810.15 332.082 53-35483
Contents
Modeling Aggregate Use of IMF Resources—Analytical Approaches and Medium-Term Projections
Atish Ghosh, Manuela Goretti, Bikas Joshi, Alun Thomas, and Juan Zalduendo
Front Matter Page
IMF Staff Papers
Vol. 55, No. 1
© 2008 International Monetary Fund
Contents
Informality and Regulations: What Drives the Growth of Firms?
Era Dabla-Norris and Gabriela Inchauste
Front Matter Page
IMF Staff Papers
Vol. 55, No. 1
© 2008 International Monetary Fund
Contents
Exchange Rate Transmission into Industry-Level Export Prices: A Tale of Two Policy Regimes in India
Sushanta Mallick and Helena Marques
Front Matter Page
IMF Staff Papers
Vol. 55, No. 1
© 2008 International Monetary Fund
Contents
Measuring and Analyzing Sovereign Risk with Contingent Claims
Michael Gapen, Dale Gray, Cheng Hoon Lim, and Yingbin Xiao
Front Matter Page
IMF Staff Papers
Vol. 55, No. 1
© 2008 International Monetary Fund
Contents
Probabilistic Sustainability of Public Debt: A Vector Autoregression Approach for Brazil, Mexico, and Turkey
Evan Tanner and Issouf Samake
Front Matter Page
IMF Staff Papers
Vol. 55, No. 1
© 2008 International Monetary Fund
Contents
Does Transparency Pay?
Rachel Glennerster and Yongseok Shin
Front Matter Page
IMF Staff Papers
Vol. 55, No. 1
© 2008 International Monetary Fund