Abstract
Research summaries on (1) globalization and macroeconomic volatility (by M. Ayhan Kose), and (2) international financial integration and domestic financial systems (by Thierry Tressel); country study on Germany (by Stephan Danninger); book summary of China and India--Learning from Each Other; listing of contents of Vol. 54, Issue No. 1 of IMF Staff Papers; listing of recent external publications by IMF staff; listing of recent IMF Working Papers; and listing of visiting scholars at the IMF during September 2006-April 2007
No. 06/167
“Ukraine: The Cost of Weak Institutions”
Tiffin, Andrew
No. 06/168
“Mr. Ricardo’s Great Adventure: Estimating Fiscal Multipliers in a Truly Intertemporal Model”
Bayoumi, Tamim; Sgherri, Silvia
No. 06/169
“Institutions versus Geography: Subnational Evidence from the United States”
Clifton, Eric V.; Romero-Barrutieta, Alma
No. 06/170
“How Might a Disorderly Resolution of Global Imbalances Affect Global Wealth?”
Warnock, Francis E.
No. 06/171
“Weathering the Storm So Far: The Impact of the 2003–05 Oil Shock on Low-Income Countries”
Dudine, Paolo; John, James; Lewis, Mark; Monasi, Luzmaria; Tadesse, Helaway; Zeuner, Joerg
No. 06/172
“Output Drops and the Shocks That Matter”
Becker, Törbjörn I.; Mauro, Paolo
No. 06/173
“Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy: The Case of Georgia”
Billmeier, Andreas; Mathisen, Johan
No. 06/174
“Why Elementary Price Index Number Formulas Differ: Price Dispersion and Product Heterogeneity”
Silver, Mick; Heravi, Saeed
No. 06/175
“The Role of Seasonality and Monetary Policy in Inflation Forecasting”
Kumah, Francis Y.
No. 06/176
“Lending Resumption After Default: Lessons from Capital Markets During the 19th Century”
Solé, Juan
No. 06/177
“Euro-Dollar Real Exchange Rate Dynamics in an Estimated Two-Country Model: What Is Important and What Is Not”
Rabanal, Pau; Tuesta, Vicente
No. 06/178
“A Solution to Two Paradoxes of International Capital Flows”
Ju, Jiandong; Wei, Shang-Jin
No. 06/179
“Institutional Quality, Knightian Uncertainty, and Insurability: A Cross-Country Analysis”
Erbas, S. Nuri; Sayers, Chera L.
No. 06/180
“Do Debt-Service Savings and Grants Boost Social Expenditures?”
Thomas, Alun H.
No. 06/181
“The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes”
Silver, Mick; Heravi, Saeed
No. 06/182
“On the Properties of Various Estimators for Fiscal Reaction Functions”
Celasun, Oya; Kang, Joong Shik
No. 06/183
“Management of Oil Wealth Under the Permanent Income Hypothesis: The Case of São Tomé and Príncipe”
Segura, Alonso
No. 06/184
“Fiscal and Monetary Nexus in Emerging Market Economies: How Does Debt Matter?”
Baig, Taimur; Kumar, Manmohan S.; Vasishtha, Garima; Zoli, Edda
No. 06/185
“Oil and Growth in the Republic of Congo”
Bhattacharya, Rina; Ghura, Dhaneshwar
No. 06/186
“The Level and Composition of Public Sector Debt in Emerging Market Crises”
de Bolle, Monica; Rother, Björn; Hakobyan, Ivetta
No. 06/187
“The Jordanian Stock Market—Should You Invest in It for Risk Diversification or Performance?”
Saadi-Sedik, Tahsin; Petri, Martin
No. 06/188
“Capital Flows to Central and Eastern Europe”
Milesi-Ferretti, Gian Maria; Lane, Philip R.
No. 06/189
“Financial Globalization: A Reappraisal”
Kose, M. Ayhan; Prasad, Eswar; Wei, Shang-Jin; Rogoff, Kenneth
No. 06/190
“What’s Driving Private Investment in Malaysia? Aggregate Trends and Firm-Level Evidence”
Guimarães, Roberto Pereira; Unteroberdoerster, Olaf
No. 06/191
“What Explains Private Saving in Mexico?”
Bulíř, Aleš; Swiston, Andrew
No. 06/192
“Money Isn’t Everything: The Challenge of Scaling Up Aid to Achieve the Millennium Development Goals in Ethiopia”
Mattina, Todd D.
No. 06/193
“Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy: Lessons from Gabon”
Leigh, Daniel; Olters, Jan-Peter
No. 06/194
“Currency Risk Premia in Global Stock Markets”
Roache, Shaun K.; Merritt, Matthew D.
No. 06/195
“A Primer for Risk Measurement of Bonded Debt from the Perspective of a Sovereign Debt Manager”
Papaioannou, Michael G.
No. 06/196
“Financial Integration in Asia: Recent Developments and Next Steps”
Cowen, David; Salgado, Ranil; Shah, Hemant; Teo, Leslie; Zanello, Alessandro
No. 06/197
“Measures of Underlying Inflation in the Euro Area: Assessment and Role for Informing Monetary Policy”
Stavrev, Emil
No. 06/198
“Corruption and Technology-Induced Private Sector Development”
Ruhashyankiko, Jean-Francois; Yehoue, Etienne B.
No. 06/199
“Insuring Public Finances Against Natural Disasters—A Survey of Options and Recent Initiatives”
Hofman, David; Brukoff, Patricia
No. 06/200
“Asset Market Participation, Monetary Policy Rules, and the Great Inflation”
Bilbiie, Florin; Straub, Roland
No. 06/201
“The Stock Market and the Financing of Corporate Growth in Africa: The Case of Ghana”
Yartey, Charles Amo
No. 06/202
“Do Some Forms of Financial Flows Help Protect from Sudden Stops?”
Levchenko, Andrei A.; Mauro, Paolo
No. 06/203
“Fiscal Implications of Multilateral Tariff Cuts”
Elborgh-Woytek, Katrin; Hallaert, Jean-Jacques; Lankes, Hans P.; Sadikov, Azim M.; Smith, Dustin
No. 06/204
“A Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries”
Leruth, Luc; Paul, Elisabeth
No. 06/205
“The External Financing of Emerging Market Countries: Evidence from Two Waves of Financial Globalization”
Faria, André; Mauro, Paolo; Minnoni, Martín; Zaklan, Aleksandar
No. 06/206
“Common Volatility Trends in the Central and Eastern European Currencies and the Euro”
Pramor, Marcus; Tamirisa, Natalia T.
No. 06/207
“Money Market Integration”
Bartolini, Leonardo; Hilton, Spence; Prati, Alessandro
No. 06/208
“Economic Growth and Total Factor Productivity in Niger”
Nachega, Jean-Claude; Fontaine, Thomson
No. 06/209
“Measuring Competitiveness”
Neary, J. Peter
No. 06/210
“Growth and Reforms in Latin America: A Survey of Facts and Arguments”
Zettelmeyer, Jeronimo
No. 06/211
“The Monetary Policy Regime and Banking Spreads in Barbados”
Samuel, Wendell; Valderrama, Laura
No. 06/212
“Political Instability and Inflation Volatility”
Aisen, Ari; Veiga, Francisco José
No. 06/213
“The Incidence and Effectiveness of Prior Actions in IMF-Supported Programs”
Thomas, Alun H.; Ramakrishnan, Uma
No. 06/214
“Financial Integration in the West African Economic and Monetary Union”
Sy, Amadou N. R.
No. 06/215
“Distance-to-Default in Banking: A Bridge Too Far?”
Chan-Lau, Jorge A.; Sy, Amadou N. R.
No. 06/216
“Fiscal Determinants of Inflation: A Primer for the Middle East and North Africa”
Fanizza, Domenico; Söderling, Ludvig
No. 06/217
“The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks”
Groome, Todd; Blancher, Nicolas R.; Haas, Francois; Kiff, John; Lee, William; Mills, Paul S.; Nakagawa, Shinobu; Ramlogan, Parmeshwar; Khadarina, Oksana; Kim, Yoon Sook
No. 06/218
“The ‘Flat Tax(es)’: Principles and Evidence”
Keen, Michael; Kim, Kevin; Varsano, Ricardo
No. 06/219
“Post-Crisis Recovery: When Does Increased Fiscal Discipline Work?”
Mitra, Pritha
No. 06/220
“How Robust Are Estimates of Equilibrium Real Exchange Rates: The Case of China”
Dunaway, Steven; Leigh, Lamin; Li, Xiangming
No. 06/221
“External Adjustment and Equilibrium Exchange Rate in Brazil”
Paiva, Claudio
IMF Working Papers and other IMF publications can be downloaded in full-text format from the “Research at the IMF” website at http://www.imf.org/research.
Visiting Scholars, September 2006–April 2007
Charles Engel; University of Wisconsin; 3/12/07–3/16/07
Robert Feenstra; University of California, Davis; 12/21/06–1/18/07
Gerhard Illing; University of Munich, Germany; 2/1/07–3/30/07
Jean Imbs; University of Lausanne, Switzerland; 1/2/07–1/5/07
Simon Johnson; Massachusetts Institute of Technology; 9/1/06–4/30/07
Christopher Otrok; University of Virginia; 12/1/06–1/12/07
Assaf Razin; Tel Aviv University, Israel; 1/8/07–1/19/07