The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF, and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.
Nominal Anchors in the CIS WP/03/179
Keller, Peter M.; Richardson, Thomas J.
Capital Account Liberalization and Corporate Taxes WP/03/180
Lockwood, Ben; Devereux, Michael; Redoano, Michela
Time-Varying Thresholds: An Application to Purchasing Power Parity WP/03/181
Leon, Hyginus L.; Najarian, Serineh
The Fiscal Smile: The Effectiveness and Limits of Fiscal Stabilizers WP/03/182
Silgoner, Maria Antoinette; Reitschuler, Gerhard; Crespo-Cuaresma, Jesus
Monetary Policies for Developing Countries: The Role of Corruption WP/03/183
Huang, Haizhou; Wei, Shang-Jin
On The Determinants of First-Time Sovereign Bond Issues WP/03/184
Grigorian, A. David
The WTO Promotes Trade, Strongly but Unevenly WP/03/185
Subramanian, Arvind; Wei, Shang-Jin
FDI Spillovers, Financial Markets, and Economic Development WP/03/186
Alfaro, Laura; Chanda, Areendam; Kalemli-Ozcan, Sebnem; Sayek, Selin
Fiscal Sustainability in African HIPC Countries: A Policy Dilemma? WP/03/187
Fedelino, Annalisa; Kudina, Alina
Crisis in Competitive Versus Monopolistic Banking Systems WP/03/188
Boyd, John H.; De Nicolo, Gianni; Smith, Bruce D.
Are Immigrant Remittance Flows a Source of Capital for Development WP/03/189
Chami, Ralph; Fullenkamp, Connel; Jahjah, Samir
International Versus Domestic Auditing of Bank Solvency WP/03/190
Feltenstein, Andrew; Lagunoff, Roger
Who’s in Charge? Ownership and Conditionality in IMF-Supported Programs WP/03/191
Boughton, James M.
Reputation, Debt, and Policy Conditionality WP/03/192
Financial Deepening, Inequality, and Growth: A Model-Based Quantitative Evaluation WP/03/193
Townsend, Robert M; Ueda, Kenichi
The U.S. Dollar and the Trade Deficit: What Accounts for the Late 1990s? WP/03/194
Hunt, Benjamin L.; Rebucci, Alessandro
Poverty and Social Impact Analysis—A Suggested Framework WP/03/195
Hossain, Shahabuddin M.
Crisis Resolution: Next Steps WP/03/196
Eichengreen, Barry; Kletzer, Kenneth; Mody, Ashoka
Dealing with Increased Risk of Natural Disasters: Challenges and Options WP/03/197
Freeman, Paul; Keen, Michael J.; Mani, Muthukumara
Prudential Issues in Less Diversified Economies WP/03/198
Narain, Aditya; Rabanal, Pau; Byskov, Steen
Promoting Fiscal Transparency: The Complementary Roles of the IMF, Financial Markets, and Civil Society WP/03/199
The Effects of Exchange Rate Fluctuations on Output and Prices: Evidence from Developing Countries WP/03/200
Kandil, Magda E.; Aghdas Mirzaie, Ida
Puttable and Extendible Bonds: Developing Interest Rate Derivatives for Emerging Markets WP/03/201
Neftci, Salih N; Santos, Andre O.
Pricing Debit Card Payment Services: An IO Approach WP/03/202
Bolt, Wilko; Tieman, Alexander F.
Macro Effects of Corporate Restructuring in Japan WP/03/203
Real and Distributive Effects of Petroleum Price Liberalization; The Case of Indonesia WP/03/204
Clements, Benedict J.; Jung, Hong-Sang; Gupta, Sanjeev
Financial Development in the CIS-7 Countries: Bridging the Great Divide WP/03/205
De Nicolo, Gianni; Geadah, Sami; Rozhkov, Dmitriy
The United States and the New Regionalism/Bilateralism WP/03/206
Hilaire, Alvin D.; Yang, Yongzheng
Of Openness and Distance: Trade Developments in the Commonwealth of Independent States, 1993–2002 WP/03/207
Elborgh-Woytek, Katrin C.
The Term Structure of Interest Rates and Monetary Policy During a Zero-Interest-Rate Period WP/03/208
Priorities for Further Fiscal Reforms in the Commonwealth of Independent States WP/03/209
Lorie, Henri R.
China’s Labor Market Performance and Challenges WP/03/210
Brooks, Ray; Ran, Tao
Mauritius: Unemployment and the Role of Institutions WP/03/211
McDonald, Calvin A.; Yao, James Y.
Modeling Inflation in Georgia WP/03/212
Early Birds, Late Risers, and Sleeping Beauties: Bank Credit Growth to the Private Sector in Central and Eastern Europe and in the Balkans WP/03/213
Cottarelli, Carlo; Dell’Ariccia, Giovanni; Vladkova-Hollar, Ivanna
Dynamics of Corporate Performance in Thailand WP/03/214
Haksar, Vikram; Kongsamut, Piyabha
Understanding the Costs of Deflation in the Japanese Context WT/03/215
Social Incidence of the General Sales Tax in Pakistan WP/03/216
Growth and Recovery in Mongolia During Transition WP/03/217
Cheng, Kevin C.
Greater Monetary Policy Transparency for the G3: Lessons from Full-Fledged inflation Targeters WP/03/218
Stone, Mark R.
The Role of Supervisory Tools in Addressing Bank Borrowers’ Currency Mismatches WP/03/219
del Mar Cacha, Maria; Morales, Armando
Fiscal Rules and Countercyclical Policy: Frank Ramsey Meets Gramm-Rudmaji-Hollings WP/03/220
Tanner, Evan C.
Predicting Sovereign Debt Crises WP/03/221
Manasse, Paolo; Roubini, Nouriel; Schimmelpfennig, Axel
Company Pension Plans, Stock Market Returns, and Labor Demand WP/03/222
Are Pegged and Intermediate Regimes More Crisis Prone? WP/03/223
Bubula, Andrea; Otker-Robe, Inci
What Sustains Fiscal Consolidations in Emerging Market Countries? WP/03/224
Gupta, Sanjeev; Baldacci, Emanuele; Clements, Benedict J.; Tiongson, Erwin R.
Optimal Fiscal and Monetary Policy with Nominal and Indexed Debt WP/03/225
Cosimano, Thomas; Gapen, Michael T.
Dynamic Depositor Discipline in U.S. Banks WP/03/226
Maechler, Andrea; McDill, Kathleen M.
How Useful Are Benefit Incidence Analyses of Public Education and Health Spending WP/03/227
Davoodi, Hamid R.; Tiongson, Erwin H.; Asawanuchit, Sawitree S.
Why Does FDI Go Where it Goes? New Evidence from the Transition Economies WP/03/228
Campos, Nauro F.; Kinoshita, Yuko
Free Trade Areas and Rules of Origin: Economics and Politics WP/03/229
Duttagupta, Rupa; Panagariya, Arvind
Output Response to Currency Crises WP/03/230
Gupta, Poonam; Mishra, Deepak; Sahay, Ratna
Do IMF-Supported Programs Boost Private Capital Inflows? The Role of Program Size and Policy Adjustment WP/03/231
Social Impact of a Tax Reform: The Case of Ethiopia WP/03/232
Munoz, Soma; Sang-Wook Cho, Stanley
Financial Globalization, Portfolio Diversification, and the Pattern of International Trade WP/03/233
Do Active Labor Market Policies Increase Employment? WP/03/234
From the Front lines at Seoul Bank: Restructuring and Reprivatization WP/03/235
Cross-Border Listings, Capital Controls, and U.S. Equity Flows to Emerging Markets WP/03/236
Edison, Hali; Warnock, Francis E.
Growth, Governance, and Fiscal Policy Transmission Channels in Low-Income Countries WP/03/237
Baldacci, Emanuele; Hillman, Arye L.; Kojo, Naoko C.
U.S. Investors’ Emerging Market Equity Portfolios: A Security-Level Analysis WP/03/238
Edison, Hali; Warnock, Francis E.
Trade Liberalization Strategies: What Could South Eastern Europe Learn From CEFTA and BFTA? WP/03/239
Adam, Antonis; Kosma, Theodora; McHugh, Jimmy
Patterns of Shocks and Regional Monetary Cooperation in South Asia WP/03/240
Matangi Maskay, Nephil
IMF and the Baltics: A Decade of Cooperation WP/03/241
Knobl, Adalbert; Haas, Richard D.
Are Credit Default Swaps Spreads High in Emerging Markets—An Alternative Methodology for Proxying Recovery Value WP/03/242
Evolution and Performance of Exchange Rate Regimes WP/03/243
Rogoff, Kenneth; Husain, Aasim M.; Mody, Ashoka; Brooks, Robin J.; Oomes, Nienke
The Effects of Fiscal Policies on the Economic Development of Women in the Middle East and North Africa WP/03/244
Laffamboise, Nicole L.; Trumbic, Tea
China’s Integration into the World Economy: Implications for Developing Countries WP/03/245
Volatility and Comovement in a Globalized World Economy: An Empirical Exploration WP/03/246
Kose, Ayhan; Prasad, Eswar S.; Terrones Silva, Marco E.
Budget System Reform in Transitional Economies: The Case of the Former Yugoslav Republics WP/03/247
Diamond, Jack; Last, Duncan
Multinational Enterprises, International Trade, and Productivity Growth: Firm-Level Evidence from the United States WP/03/248
Keller, Wolfgang; Yeaple, Stephen R.
External Debt, Public Investment, and Growth in Low-Income Countries WP/03/249
Clements, Benedict J.; Bhattacharya, Rina; Nguyen, Toan Quoc
Determinants of Deflation in Hong Kong SAR WP/03/250
Characterizing Global Investors’ Risk Appetite for Emerging Market Debt During Financial Crises WP/03/251
Dungey, Mardi; Fry, Renee; Gonzalez-Hermosillo, Brenda; Martin, Vance
Sources of Nominal Exchange Rate Fluctuations in South Africa WP/03/252
Bhundia, Ashok J.; Gottschalk, Jan
The Gains from International Monetary Cooperation Revisited WP/04/1
Exchange Rates in Central Europe: A Blessing or a Curse? WP/04/2
Borghijs, Alain; Kuijs, Louis
Do Macroeconomic Effects of Capital Controls Vary by Their Type? Evidence from Malaysia WP/04/3
Tamirisa, Natalia T.
Foreign Exchange Market Organization in Selected Developing and Transition Economies: Evidence from a Survey WP/04/4
Canales Kriljenko, Jorge I.
International Dividend Repatriations WP/04/5
Lehmann, Alexander C.; Mody, Ashoka
A Puzzle of Microstructure Market Maker Models WP/04/6
Fiscal Sustainability: The Case of Eritrea WP/04/7
Fiscal Surveillance in a Petro Zone: The Case of the CEMAC WP/04/8
Timing of International Bailouts WP/04/9
Singapore’s Unique Monetary Policy: How Does It Work? WP/04/10
Banking Competition, Risk, and Regulation WP/04/11
Bolt, Wilko; Tieman, Alexander F.
The Late 1990s Financial Crisis in Ecuador: Institutional Weaknesses, Fiscal Rigidities, and Financial Dollarization at Work WP/04/12
Luis I., Jacome H.
How Private Creditors Fared in Emerging Debt Markets, 1970–2000 WP/04/13
Klingen, Christoph A.; Weder, Beatrice S.; Zettelmeyer, Jeromin
Exchange Rate Pass-Through in the Euro Area: The Role of Asymmetric Pricing Behavior WP/04/14
What Are the Channels Through Which External Debt Affects Growth? WP/04/15
Pattillo, Catherine A.; Poirson, Helene K.; Ricci, Luca A.
Foreign Exchange Market Volatility in EU Accession Countries in the Run-Up to Euro Adoption: Weathering Uncharted Waters WP/04/16
Kobor, Adam; Szekely, Istvan P.
Interest Rate Volatility and Risk in Indian Banking WP/04/17
Patnaik, Ila; Shah, Ajay
China: Sources of Real Exchange Rate Fluctuations WP/04/18
Six Puzzles in Electronic Money and Banking WP/04/19
Fullenkamp, Connel; Nsouli, Saleh M.
Does Spousal Labor Smooth Fluctuations in Husbands’ Earnings? The Role of Liquidity Constraints WP/04/20
Inflation Targeting and Exchange Rate Rules in an Open Economy WP/04/21
Armington Elasticities in Intermediate Inputs Trade: A Problem in Using Multilateral Trade Data WP/04/22
IMF Working Papers, Policy Discussion Papers, and other IMF publications can be downloaded in full-text format from the Research at the IMF website: http://www.imf.org/research.
Policy Discussion Papers
Large and Complex Financial Institutions: Challenges and Policy Responses—Lessons from Sweden PDP/03/1
R.B. Johnston; Balázs Horváth; Luca Errico; and Jingqing Chai
The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy: The Case of Romania PDP/03/2
Stéphane M. Cossé
Financial Integration in Central America: Prospects and Adjustment Needs PDP/03/3
Jorge I. Canutes Kriljenko; Padamja Khandelwal; and Alexander C. Lehmann
Issuing Government Bonds to Finance Bank Recapitalization and Restructuring: Design Factors That Affect Banks’ Financial Performance PDP/03/4
FDI and the Investment Climate in the CIS Countries PDP/03/5
Clinton R. Shiells
International Trade in Services: Implications for the Fund PDP/03/6
Alexander C. Lehmann; Natalia T. Tamirisa; and Jaroslaw Wieczorek