Abstract
The Q&A in this issue features seven questions about policy options for emerging market countries (by Marcos Chamon, Chris Crowe, and Jun Il Kim); research summaries on “Does Trade and Financial Globalization Cause Income Inequality?” (by Chris Papageorgiou) and “The Current Account of Oil-Exporting Countries (by Irineu E. de Carvalho Filho); an article on the launch of the IMF’s new research journal, IMF Economic Review, and the contents of the upcoming IMF Staff Papers, which the new the new journal will succeed in 2010; an article on the upcoming Tenth Annual Jacques Polak Research Conference; a listing of visiting scholars at the IMF during July–September 2009; and listings of recent IMF Working Papers and Staff Position Notes.
IMF Working Papers
No. 09/78
Assessing Exchange Rate Competitiveness in the Eastern Caribbean Currency Union
Pineda, Emilio; Cashin, Paul; Sun, Yan
No. 09/79
Exposure to Real Estate Losses: Evidence from the US Banks
Igan, Deniz; Pinheiro, Marcelo
No. 09/80
The Crisis: Basic Mechanisms and Appropriate Policies
Blanchard, Olivier J.
No. 09/81
Exchange Rate Assessment for Oil Exporters
Enders, Klaus-Stefan
No. 09/82
Determinants of Inflation in GCC
Kandil, Magda E.; Morsy, Hanan
No. 09/83
Hold Your Nose and Vote: Why Do Some Democracies Tolerate Corruption?
Pani, Marco
No. 09/84
Accrual Budgeting and Fiscal Policy
Robinson, Marc
No. 09/85
Adding Latin America to the Global Projection Model
Canales Kriljenko, Jorge Iván; Freedman, Charles; Garcia-Saltos, Roberto; Johnson, M.; Laxton, Douglas
No. 09/86
Why Inflation Targeting?
Freedman, Charles; Laxton, Douglas
No. 09/87
IT Framework Design Parameters
Freedman, Charles; Laxton, Douglas
No. 09/88
Chile's Structural Fiscal Surplus Rule: A Model-Based Evaluation
Kumhof, Michael; Laxton, Douglas
No. 09/89
Global Imbalances and Petrodollars
Arezki, Rabah; Hasanov, Fuad
No. 09/90
Inflation Hedging for Long-Term Investors
Attie, Alexander P. ; Roache, Shaun K.
No. 09/91
Remittances: An Automatic Output Stabilizer?
Chami, Ralph; Hakura, Dalia; Montiel, Peter
No. 09/92
The Size of Government and U.S.-European Differences in Economic Performance
Bell, Gerwin; Tawara, Norikazu
No. 09/93
Global Relative Poverty
Nielsen, Lynge
No. 09/94
Inflation Targeting Under Imperfect Policy Credibility
Alichi, Ali; Freedman, Charles; Johnson, M.; Kamenik, Ondra; Kisinbay, Turgut; Laxton, Douglas; Clinton, Kevin; Chen, Huigang
No. 09/95
Ponzi Schemes in the Caribbean
Carvajal, Ana; Monroe , Hunter K.; Pattillo, Catherine A.; Wynter, Brian
No. 09/96
The Challenge of Reforming Budgetary Institutions in Developing Countries
Allen, Richard
No. 09/97
Why Are Japanese Wages So Sluggish?
Sommer, Martin
No. 09/98
Understanding Inflation Inertia in Angola
Klein, Nir; Kyei, Alexander
No. 09/99
The Impact of the Regional Cross-Listing of Stocks on Firm Value in Sub-Saharan Africa
Adelegan, Olatundun Janet
No. 09/100
Financial Stress, Downturns, and Recoveries
Cardarelli, Roberto; Elekdag, Selim; Lall, Subir
No. 09/101
What Should Inflation Targeting Countries Do When Oil Prices Rise and Drop Fast?
Batini, Nicoletta; Tereanu, Eugen
No. 09/102
Advanced public financial management reforms in South East Europe
Tandberg, E.; Pavesic-Skerlep, Mia
No. 09/103
The Persistence of Capital Account Crises
Mecagni, Mauro; Atoyan, Ruben; Hofman, David
No. 09/104
Financial Spillovers to Emerging Markets during the Global Financial Crisis
Frank, Nathaniel; Hesse, Heiko
No. 09/105
Financial Intermediation, Competition, and Risk: A General Equilibrium Exposition
De Nicoló, Gianni; Lucchetta, Marcella
No. 09/106
Fiscal Stimulus with Spending Reversals
Corsetti, Giancarlo; Meier, André; Müller, Gernot
No. 09/107
Madagascar: A Competitiveness and Exchange Rate Assessment
Eyraud, Luc
No. 09/108
From Bear Stearns to Anglo Irish: How Eurozone Sovereign Spreads Related to Financial Sector Vulnerability
Mody, Ashoka
No. 09/109
Estimating Default Frequencies and Macrofinancial Linkages in the Mexican Banking Sector
Blavy, Rodolphe; Souto, Marcos
No. 09/110
Credit Risk Spreads in Local and Foreign Currencies
Galai, Dan; Wiener, Zvi
No. 09/111
Spillovers to Emerging Equity Markets: An Econometric Assessment
Psalida, L. Effie; Sun, Tao
No. 09/112
An Alternative Explanation for the Resource Curse: The Income Effect Channel
Alichi, Ali; Arezki, Rabah
No. 09/113
Financial Deepening in the CFA Franc Zone: The Role of Institutions
Singh, Raju; Kpodar, Kangni; Ghura, Dhaneshwar
No. 09/114
Sub-Saharan Africa's Integration in the Global Financial Markets
Deléchat, Corinne; Ramirez, Gustavo; Wagh, Smita; Wakeman-Linn, John
No. 09/115
The Macroeconomics of Scaling Up Aid: The Gleneagles Initiative for Benin
Mongardini, Joannes; Samaké, Issouf
No. 09/116
Out of the Box Thoughts about the International Financial Architecture
Eichengreen, Barry J.
No. 09/117
Macroeconomic Responses to Terms-of-Trade Shocks: A Framework for Policy Analysis for the Argentine Economy
Berkmen, Pelin
No. 09/118
Development Aid and Economic Growth: A Positive Long-Run Relation
Minoiu, Camelia; Reddy, Sanjay
No. 09/119
A Multi-industry Model of Growth with Financing Constraints
Ilyina, Anna; Samaniego, Roberto M.
No. 09/120
The Federal Reserve System Balance Sheet-What Happened and Why it Matters
Stella, Peter
No. 09/121
Competitiveness in Central-Europe: What Has Happened Since EU Accession?
Allard, Céline
No. 09/122
Where Does the Public Sector End and the Private Sector Begin?
Lienert, Ian
No. 09/123
Modeling with Macro-Financial Linkages: Credit and Policy Shocks in Emerging Markets
Benes, Jaromir; Ötker, Inci; Vávra, David
No. 09/124
Fiscal Incentive Effects of the German Equalization System
Stehn, Sven Jari; Fedelino, Annalisa
No. 09/125
Decoupling from the East Toward the West? Analyses of Spillovers to the Baltic Countries
Obiora, Kingsley I.
No. 09/126
Fiscal Policy Rules for Oil-Producing Countries: A Welfare-Based Assessment
Maliszewski, Wojciech
No. 09/127
Current Accounts in a Currency Union
Decressin, Jörg; Stavrev, Emil
No. 09/128
External Debt Sustainability in HIPC Completion Point Countries: An Update
Yang, Jie; Nyberg, Dan
No. 09/129
The Systemic Regulation of Credit Rating Agencies and Rated Markets
Sy, Amadou N. R.
No. 09/130
Canadian Residential Mortgage Markets: Boring But Effective?
Kiff, John
No. 09/131
Broad Money Demand and Asset Substitution in China
Wu, Ge
No. 09/132
Forecasting Inflation in Sudan
Moriyama, Kenji; Naseer, Abdul
No. 09/133
The Transmission of Financial Stress from Advanced to Emerging Economies
Balakrishnan, Ravi; Danninger, Stephan; Elekdag, Selim; Tytell, Irina
No. 09/134
Balance of Payments Anti-Crises
Kumhof, Michael; Yan, Isabel K.
No. 09/135
Governance Practices at Financial Regulatory and Supervisory Agencies
Seelig, Steven A.; Novoa, Alicia
No. 09/136
Empirical Evidence on the Effects of Tax Incentives
Klemm, Alexander; Van Parys, Stefan
No. 09/137
Optimal Monetary and Fiscal Policy with Limited Asset Market Participation
Stehn, Sven Jari
No. 09/138
International Risk Sharing: Through Equity Diversification or Exchange Rate Hedging?
Engel, Charles; Matsumoto, Akito
No. 09/139
Regional Financial Integration in the Caribbean: Evidence from Financial and Macroeconomic Data
Espinoza, Raphael; Kwon, Goohoon
No. 09/140
The Effects of Economic News on Commodity Prices: Is Gold Just Another Commodity?
Roache, Shaun K.; Rossi, Marco
No. 09/141
Banking Crises and Crisis Dating: Theory and Evidence
Boyd, John H.; De Nicoló, Gianni; Loukoianova, Elena