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.
Working Paper No. 05/138
U.S. Tax Reform: An Overview of the Current Debate and Policy Options
Dalsgaard, Thomas
Working Paper No. 05/139
Pakistan’s Macroeconomic Adjustment and Resumption
of Growth, 1999–2004
Lorie, Henri; Iqbal, Zafar
Working Paper No. 05/140
Global Aging and Fiscal Policy with International Labor Mobility: A Political Economy Perspective
Tosun, Mehmet S.
Working Paper No. 05/141
Competition in Indian Banking
Prasad, A.; Ghosh, Saibal
Working Paper No. 05/142
Tax Systems under Fiscal Adjustment: A Dynamic CGE Analysis of the Brazilian Tax Reform
Lledo, Victor Duarte
Working Paper No. 05/143
Trade Integration in the East African Community: An Assessment for Kenya
McIntyre, Meredith A.
Working Paper No. 05/144
Money Demand and Inflation in Dollarized Economies: The Case of Russia
Oomes, Nienke; Ohnsorge, Franziska
Working Paper No. 05/145
Ten Years After the CFA Franc Devaluation: Progress Toward Regional Integration in the WAEMU
Tsangarides, Charalambos G.; Boogaerde, Pierre van den
Working Paper No. 05/146
Trade Liberalization, Intermediate Inputs, and Productivity: Evidence from Indonesia
Amiti, Mary; Konings, Jozef
Working Paper No. 05/147
Growth Dynamics: The Myth of Economic Recovery
Cerra, Valerie; Saxena, Sweta Chaman
Working Paper No. 05/148
The Use and Abuse of Taylor Rules: How Precisely Can We Estimate Them?
Carare, Alina; Tchaidze, Robert
Working Paper No. 05/149
Preferential Trade Agreements in the Asia-Pacific Region
Feridhanusetyawan, Tubagus
Working Paper No. 05/150
Infrastructure Aid, Deindustrialization, and Welfare
Choi, Eun Kwan
Working Paper No. 05/151
Assessing and Managing Rapid Credit Growth and the Role of Supervisory and Prudential Policies
Pazarbasioglu, Ceyla; Johnsen, Gudrun; Ötker, Inci; Hilbers, Paul Louis Ceriel
Working Paper No. 05/152
An Anatomy of Corporate Bond Markets: Growing Pains and Knowledge Gains
Luengnaruemitchai, Pipat; Ong, Li L.
Working Paper No. 05/153
Treasury System Design—A Value Chain Approach
Tandberg, E.
Working Paper No. 05/154
Managing Revenue Volatility in a Small Island Economy: The Case of Kiribati
Purfield, Catriona M.
Working Paper No. 05/155
Measuring and Analyzing Sovereign Risk with Contingent Claims
Gapen, Michael T.; Gray, Dale F.; Lim, Cheng Hoom; Xiao, Yingbin
Working Paper No. 05/156
Forestry Taxation in Africa: The Case of Liberia
Schwidrowski, Arnim; Thomas, Saji
Working Paper No. 05/157
Bidder Participation and Information in Currency Auctions
Ausubel, Lawrence; Romeu, Rafael
Working Paper No. 05/158
Why Is Micro Evidence on the Effects of Uncertainty Not Replicated In Macro Data?
Bond, Stephen; Lombardi, Domenico
Working Paper No. 05/159
Does Government Spending Crowd In Private Consumption? Theory and Empirical Evidence for the Euro Area
Coenen, Günter; Straub, Roland
Working Paper No. 05/160
What Causes Firms to Hide Output? The Determinants of Informality
Dabla-Norris, Era; Gradstein, Mark; Inchauste, Gabriela
Working Paper No. 05/161
A Global Perspective on External Positions
Lane, Philip R.; Milesi-Ferretti, Gian Maria
Working Paper No. 05/162
U.S. Mutual Fund Retail Investors in International Equity Markets: Is the Tail Wagging the Dog?
Chan-Lau, Jorge A.; Ong, Li L.
Working Paper No. 05/163
On Target? The International Experience with Achieving Inflation Targets
Roger, Scott; Stone, Mark R.
Working Paper No. 05/164
Real Exchange Rate Misalignment: A Panel Co-Integration and Common Factor Analysis
Dufrénot, Gilles J.; Yehoue, Etienne B.
Working Paper No. 05/165
Portfolio Choice in a Monetary Open-Economy DSGE Model
Engel, Charles; Matsumoto, Akito
Working Paper No. 05/166
Access to Bank Credit in Sub-Saharan Africa: Key Issues and Reform Strategies
Sacerdoti, Emilio
Working Paper No. 05/167
Finance in Lower Income Countries: An Empirical Exploration
Detragiache, Enrica; Gupta, Poonam; Tressel, Thierry
Working Paper No. 05/168
Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework
Catalán, Mario; Ganapolsky, Eduardo J.J.
Working Paper No. 05/169
Deposit Insurance Regulatory Forbearance and Economic Growth: Implications for the Japanese Banking Crisis
Dekle, Robert; Kletzer, Kenneth
Working Paper No. 05/170
Financial Development, Financial Fragility, and Growth
Loayza, Norman; Ranciere, Romain
Working Paper No. 05/171
Commodity Price Shocks and the Odds on Fiscal Performance
Kumah, Francis Y.; Matovu, John
Working Paper No. 05/172
“Inflation Targeting Lite” in Small Open Economies: The Case of Mauritius
Yao, James Y.; Porter, Nathaniel John
Working Paper No. 05/173
Quality of Financial Policies and Financial System Stress
Das, Udaibir S.; Iossifov, Plamen; Podpiera, Richard; Rozhkov, Dmitriy
Working Paper No. 05/174
Subordinated Levy Processes and Applications to Crude Oil Options
Krichene, Noureddine
Working Paper No. 05/175
The Political Economy of Seigniorage
Aisen, Ari; Veiga, Francisco José
Working Paper No. 05/176
Explicit and Implicit Targets in Open Economies
Sgherri, Silvia
Working Paper No. 05/177
The IMF’s Role in Low-Income Countries: Issues and Challenges
Lombardi, Domenico
Working Paper No. 05/178
How Useful Is Monetary Econometrics in Low-Income Countries? The Case of Money Demand and the Multipliers in Rwanda
Hauner, David; Di Bella, C. Gabriel
Working Paper No. 05/179
The Macroeconomic Challenges of Scaling Up Aid to Africa
Gupta, Sanjeev; Powell, Robert; Yang, Yongzheng
Working Paper No. 05/180
Pity the Finance Minister: Issues in Managing a Substantial Scaling-Up of Aid Flows
Heller, Peter S.
Working Paper No. 05/181
A Global View of the U.S. Investment Position
Swiston, Andrew
Working Paper No. 05/182
European Union Enlargement and Equity Markets in Accession Countries
Dvorak, Tomas; Podpiera, Richard
Working Paper No. 05/183
Governance Structures and Decision-Making Roles in Inflation-Targeting Central Banks
Tuladhar, Anita
Working Paper No. 05/184
Post-Transition Investment Behavior in Poland: A Sectoral Panel Analysis
Murgasova, Zuzana
Working Paper No. 05/185
Russia’s Regions: Income Volatility, Labor Mobility, and Fiscal Policy
Kwon, Goohoon; Spilimbergo, Antonio
Working Paper No. 05/186
Financial Dollarization Equilibria: A Framework for Policy Analysis
Ize, Alain
Working Paper No. 05/187
Financial De-Dollarization: Is It for Real?
Ize, Alain; Levy Yeyati, Eduardo
Working Paper No. 05/188
Managing Systemic Liquidity Risk in Financially Dollarized Economies
Ize, Alain; Kiguel, Miguel A.; Levy Yeyati, Eduardo
Working Paper No. 05/189
FDI Flows to Asia: Did the Dragon Crowd Out the Tigers?
Mercereau, Benoît
Working Paper No. 05/190
Investment Restrictions and Contagion in Emerging Markets
Ilyina, Anna
Working Paper No. 05/191
Product Market Regulation and the Benefits of Wage Moderation
Estevão, Marcello M.
Working Paper No. 05/192
Is Russia Still Driving Regional Economic Growth?
Shiells, Clinton R.; Pani, Marco; Jafarov, Etibar
Working Paper No. 05/193
Clusters as a Driving Engine for FDI
Yehoue, Etienne B.
Working Paper No. 05/194
Social Welfare and Cost Recovery in Two-Sided Markets
Bolt, Wilko; Tieman, Alexander F.
Working Paper No. 05/195
Sustaining Growth Accelerations and Pro-Poor Growth in Africa
Pattillo, Catherine A.; Gupta, Sanjeev; Carey, Kevin Joseph
Working Paper No. 05/196
Introducing Financial Management Information Systems in Developing Countries
Diamond, Jack; Khemani, Pokar
Working Paper No. 05/197
Trinidad and Tobago: The Energy Boom and Proposals for a Sustainable Fiscal Policy
Velculescu, Delia; Rizavi, Saqib
IMF Working Papers and other IMF publications can be downloaded in full-text format from the Research at the IMF website: http://www.imf.org/research.