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.

Abstract

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.

January 2003–March 2004

Journal Articles

Arora, Vivek; Vamvakidis, Athanasios

The Impact of U.S. Economic Growth on the Rest of the World: How Much Does It Matter?

Journal of Economic Integration

Bartolini, Leonardo; Bertola, Giuseppe; Prati, Alessandro

The Overnight Interbank Market: Evidence from the G-7 and the Euro Zone

Journal of Banking and Finance

Borensztein, Eduardo; Gelos, Gaston R.

Leaders and Followers: Emerging Market Fund Behavior During Tranquil and Turbulent Times

Emerging Markets Review

Bulír, Aleš

Can Price Incentive to Smuggle Explain the Contraction of Cocoa Supply in Ghana?

Journal of African Economies

Bulír, Aleš; Brixiova, Zuzana

Growth Slowdown Under Central Planning: A Model of Poor Incentives

Economic Systems

Chan-Lau, Jorge

Corporate Restructuring in Japan

Capco Institute Journal of Financial Transformation

Chan-Lau, Jorge; Ivaschenko, Iryna

Asian Flu or Wall Street Virus? Price and Volatility Spillovers of the Tech and Non-Tech Sectors in the United States and Asia

Journal of Multinational Financial Management

Chinn, Menzie; Prasad, Eswar S.

Medium-Term Determinants of Current Accounts in Industrial and Developing Countries: An Empirical Exploration

Journal of International Economics

Choi, Woon Gyu; Oh, Seonghwan

The Money Demand Function with Output Uncertainty, Monetary Uncertainty, and Financial Innovations

Journal of Money, Credit, and Banking

Cubeddu, Luis; Ríos-Rull, José-Victor

Families as Shocks

Journal of the European Economic Association

Debrun, Xavier; Masson, Paul; Pattillo, Catherine

West African Currency Unions: Rationale and Sustainability

CESifo Economic Studies

Dippelsman, Robert J.; Mashle, Nils Ø.

Treatment of Mobile Phone Licenses in the National Accounts

The Review of Income and Wealth

Faruqee, Hamid

Debt, Deficits, and Age-Specific Mortality

Review of Economic Dynamics

Faruqee, Ham id; Mühleisen, Martin

Population Aging in Japan: Demographic Shock and Fiscal Sustainability

Japan and the World Economy

Gelos, Gaston R.

Foreign Currency Debt in Emerging Markets: Firm-Level Evidence from Mexico

Economics Letters

Horváth, Balázs; Szekely, Istvan

The Role of Medium-Term Fiscal Frameworks for Transition Economies—The Case of Bulgaria

Emerging Markets Finance and Trade

Kandil, Magda Elsayed

Exchange Rate Fluctuations and Economic Activity in Developing Countries: Theory and Evidence

Journal of Economic Development

Kandil, Magda Elsayed; Fahmy, Yasser

The Fisher Effect: New Evidence and Implications

International Review of Economics and Finance

Kock, Udo

Social Benefits and the Flow Approach to the Labor Market

Tijdschrifi voor Politieke Economie

Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco

How Does Globalization Affect the Synchronization of Business Cycles?

American Economic Review, Papers and Proceedings

Lumsdaine, Robin; Prasad, Eswar

Identifying the Common Component in International Economic Fluctuations: A New Approach

The Economic Journal

Pascual, Antonio G.; Cheung, Yin-Wong

Testing for Output Convergence: A Re-Examination

Oxford Economic Papers

Prati, Alessandro; Bartolini, Leonardo

The Execution of Monetary Policy: A Tale of Two Central Banks

Economic Policy

Spilimbergo, Antonio; Vamvakidis, Athanasios

Real Effective Exchange Rate and the Constant Elasticity of Substitution Assumption

Journal of International Economics

Unteroberdoerster, Olaf

Trade Policy and Environmental Regulation in the Asia-Pacific: A Simulation

The World Economy

Other External Publications

(Books, Chapters in Books, and Conference Volumes)

Beetsma, Roel; Debrun, Xavier

The Interaction Between Monetary and Fiscal Policies in a Monetary Union: A Review of Recent Literature

Monetary Policy, Fiscal Policies, and Labor Markets: Macroeconomic Policy Making in the EMU

(Cambridge University Press)

den Butter, Frank; Kock, Udo

Social Security, Economic Growth, and Poverty

New Social Policy Agenda for Europe and Asia, ed. by K. Marshall and O. Butzbach

(World Bank)

Keane, Michael; Prasad, Eswar S.

Redistribution and Growth in the Policy Transition: An Analysis from Political Economy and New Growth Theory Perspectives

Growth and Inequality: Issues and Policy Implications, ed. by Theo Eicher and Stephen Turnovsky

(MIT Press)

Prasad, Eswar S.

What Determines the Reservation Wages of Unemployed Workers? New Evidence from German Micro Data

Institutions and Wage Formation in the New Europe, ed. by Gabriel Pagan, Francesco Mongelli, and Julian Morgan

(Edward Elgar)

A full and updated listing of external publications of IMF staff (from 1997 onward), including forthcoming publications, can be found in a searchable database at the Research at the IMF website at http://www.imf.org/research.