Abstract
The Q&A in this issue features seven questions on the role of precautionary savings in open economies (by Damiano Sandri); the research summaries are "The Macroeconomics of Aid (by Andrew Berg, Rafael Portillo, and Luis-Felipe Zanna) and "The Building Blocks to Measure Inflation" (by Mick Silver). The issue also lists the contents of the March 2011 issue of the IMF Economic Review, Volume 59 Number 1; visiting scholars at the IMF during January?March 2011; and recent IMF Working Papers and Staff Discussion Notes.
No. 10/241
On the Distributive Effects of Terms of Trade Shocks: The Role of Non-tradable Goods
Galiani, Sebastian; Heymann, Daniel; Magud, Nicolas E.
No. 10/242
Crisis and Recovery: Role of the Exchange Rate Regime in Emerging Market Countries
Tsangarides, Charalambos G.
No. 10/243
Monetary and Fiscal Policy Interactions in the Post-war U.S.
Traum, Nora; Yang, Shu-Chun S.
No. 10/244
After the Crisis: Assessing the Damage in Italy
Morsy, Hanan; Sgherri, Silvia
No. 10/245
A Historical Public Debt Database
Abbas, S. M. Ali; Belhocine, Nazim; ElGanainy, Asmaa A; Horton, Mark A.
No. 10/246
Forecasting U.S. Investment
Lee, Jaewoo; Rabanal, Pau
No. 10/247
Bankers Without Borders? Implications of Ring-Fencing for European Cross-Border Banks
Cerutti, Eugenio; Ilyina, Anna; Makarova, Yulia; Schmieder, Christian
No. 10/248
Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?
Caceres, Carlos; Corbacho, Ana; Medina, Leandro
No. 10/249
Asset Prices in Affine Real Business Cycle Models
Malkhozov, Aytek; Shamloo, Maral
No. 10/250
Assessing the Risk of Private Sector Debt Overhang in the Baltic Countries
Herzberg, Valerie
No. 10/251
Riding the Roller Coaster: Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean
Villafuerte, Mauricio; Lopez Murphy, Pablo; Ossowski, Rolando
No. 10/252
Post-Crisis Fiscal Policy Priorities for the ASEAN-5
Budina, Nina T; Tuladhar, Anita
No. 10/253
IMF Applications of Purchasing Power Parity Estimates
Silver, Mick
No. 10/254
Should Advanced Countries Adopt a Fiscal Responsibility Law?
Lienert, Ian
No. 10/255
Determinants of the Foreign Exchange Risk Premium in Gulf Cooperation Council Countries
Poghosyan, Tigran
No. 10/256
Slowdown of Credit Flows in Jordan in the Wake of the Global Financial Crisis: Supply or Demand Driven?
Poghosyan, Tigran
No. 10/257
Bilateral Financial Linkages and Global Imbalances: a View on The Eve of the Financial Crisis
Milesi-Ferretti, Gian Maria; Strobbe, Francesco; Tamirisa, Natalia T.
No. 10/258
On the Estimation of Term Structure Models and An Application to the United States
Gasha, Jose Giancarlo; He, Ying; Medeiros, Carlos I.; Rodriguez, Marco; Salvati, Jean; Yi, Jiangbo
No. 10/259
Unemployment and Productivity in the Long Run: the Role of Macroeconomic Volatility
Benigno, Pierpaolo; Ricci, Luca Antonio; Surico, Paolo
No. 10/260
Government Involvement in Corporate Debt Restructuring: Case Studies from the Great Recession
Grigorian, David A.; Raei, Faezeh
No. 10/261
Do Credit Shocks Matter? A Global Perspective
Helbling, Thomas; Huidrom, Raju; Kose, M. Ayhan; Otrok, Christopher
No. 10/262
Emerging Asia’s Impact on Australian Growth: Some Insights From GEM
Hunt, Ben
No. 10/263
A New Index of Currency Mismatch and Systemic Risk
Ranciere, Romain; Tornell, Aaron; Vamvakidis, Athanasios
No. 10/264
Private Sector Consumption and Government Consumption and Debt in Advanced Economies: An Empirical Study
Bhattacharya, Rina; Mukherjee, Sanchita
No. 10/265
What Caused the Global Financial Crisis - Evidence on the Drivers of Financial Imbalances 1999-2007
Nier, Erlend; Merrouche, Ouarda
No. 10/266
Financial Innovation and Risk: The Role of Information
Piazza, Roberto
No. 10/267
Growth and Crisis, Unavoidable Connection?
Piazza, Roberto
No. 10/268
Inequality, Leverage and Crises
Kumhof, Michael; Ranciere, Romain
No. 10/269
Export Tax and Pricing Power: Two Hypotheses on the Cocoa Market in Côte d’Ivoire
Kireyev, Alexei
No. 10/270
The Transmission Mechanism in Armenia: New Evidence from a Regime Switching VAR Analysis
Bordon, Anna R; Weber, Anke
No. 10/271
When and Why Worry About Real Exchange Rate Appreciation? The Missing Link between Dutch Disease and Growth
Magud, Nicolas E; Sosa, Sebastian
No. 10/272
A Status Update on Fiscal Exit Strategies
Bornhorst, Fabian; Budina, Nina T; Callegari, Giovanni; El-Ganainy, Asmaa A.; Gomez Sirera, Raquel; Lemgruber, Andrea; Schaechter, Andrea; Shin, Joong B
No. 10/273
Are House Prices Rising Too Fast in Hong Kong SAR?
Ahuja, Ashvin; Porter, Nathaniel John
No. 10/274
Are House Prices Rising Too Fast in China?
Ahuja, Ashvin; Cheung, Lillian; Han, Gaofeng; Porter, Nathaniel John; Zhang, Wenlang
No. 10/275
The Chinese Corporate Savings Puzzle: A Firm-Level Cross-Country Perspective
Bayoumi, Tamim; Tong, Hui; Wei, Shang-Jin
No. 10/276
Monetary Policy, Leverage, and Bank Risk-Taking
Dell’Ariccia, Giovanni; Laeven, Luc; Marquez, Robert
No. 10/277
Can Covered Bonds Resuscitate Residential Mortgage Finance in the United States?
Surti, Jay
No. 10/278
U.S. Monetary Shocks and Global Stock Prices
Laeven, Luc; Tong, Hui
No. 10/279
A Note on Terms of Trade Shocks and the Wage Gap
Coble Fernandez, David O; Magud, Nicolas E
No. 10/280
Managing Public Debt and Its Financial Stability Implications
Das, Udaibir S.; Papaioannou, Michael G; Pedras, Guilherme; Ahmed, Faisal; Surti, Jay
No. 10/281
Determinants of Emerging Market Sovereign Bond Spreads: Fundamentals vs Financial Stress
Bellas, Dimitri; Papaioannou, Michael G; Petrova, Iva
No. 10/282
Into the Great Unknown: Stress Testing with Weak Data
Ong, Li L.; Maino, Rodolfo; Duma, Nombulelo
No. 10/283
The Cost of Private Debt Over the Credit Cycle
Aykut, Dilek; Francis, Johanna L.; Tereanu, Eugen
No. 10/284
Transforming China: Insights from the Japanese Experience of the 1980s
N’Diaye, Papa M’B. P.
No. 10/285
Estimating Potential Output with a Multivariate Filter
Benes, Jaromir; Clinton, Kevin; Garcia-Saltos, Roberto; Johnson, Marianne; Laxton, Douglas; Manchev, Petar; Matheson, Troy
No. 10/286
Bank Capital: Lessons from the Financial Crisis
DemirgüçKunt, Asli; Detragiache, Enrica; Merrouche, Ouarda
No. 10/287
Workers’ Remittances and the Equilibrium Real Exchange Rate: Theory and Evidence
Barajas, Adolfo; Chami, Ralph; Hakura, Dalia; Montiel, Peter
No. 10/288
Estimating a Structural Model of Herd Behavior in Financial Markets
Cipriani, Marco; Guarino, Antonio
No. 10/289
Income Uncertainty and Household Savings in China
Chamon, Marcos; Liu, Kai; Prasad, Eswar
No. 10/290
Export versus FDI in Services
Bhattacharya, Rudrani; Patnaik, Ila; Shah, Ajay
No. 10/291
What Drives House Prices in Australia? A Cross-Country Approach
Tumbarello, Patrizia; Wang, Shengzu
No. 10/292
Weathering the Global Storm: The Benefits of Monetary Policy Reform in the LA5 Countries
Canales Kriljenko, Jorge Iván; Jácome, Luis Ignacio; Alichi, Ali; de Oliveira Lima, Ivan Luis
No. 10/293
Rebalancing in Japan: The Role of Private Consumption
Tokuoka, Kiichi
No. 10/294
Japan’s Quest for Growth: Exploring the Role of Capital and Innovation
Syed, Murtaza H.; Lee, Jinsook
No. 10/295
European Financial Linkages: A New Look at Imbalances
Waysand, Claire; Ross, Kevin; De Guzman, John C
No. 10/296
Learning About Inflation Measures for Interest Rate Rules
Airaudo, Marco; Zanna, Luis-Felipe
No. 10/297
Macroeconomic Effects of Public Pension Reforms
Karam, Philippe D; Muir, Dirk; Pereira, Joana; Tuladhar, Anita
No. 11/1
A Barrel of Oil or a Bottle of Wine: How Do Global Growth Dynamics Affect Commodity Prices?
Cevik, Serhan; Sedik, Tahsin Saadi
No. 11/2
The Chilean Output Gap
Magud, Nicolas E.; Medina, Leandro
No. 11/3
How Does Trade Evolve in the Aftermath of Financial Crises?
Abiad, Abdul; Mishra, Prachi; Topalova, Petia
No. 11/4
Asian Financial Integration: Trends and Interruptions
Borensztein, Eduardo; Loungani, Prakash
No. 11/5
Monetary Policy Transmission in an Emerging Market Setting
Bhattacharya, Rudrani; Patnaik, Ila; Shah, Ajay
No. 11/6
The Effects of Housing Prices and Monetary Policy in a Currency Union
Aspachs-Bracons, Oriol; Rabanal, Pau
No. 11/7
India’s Financial Globalisation
Shah, Ajay; Patnaik, Ila
No. 11/8
Sources of Corporate Profits in India—Business Dynamism or Advantages of Entrenchment?
Mody, Ashoka; Nath, Anusha; Walton, Michael
No. 11/9
Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate
Kinda, Tidiane; Combes, Jean-Louis; Plane, Patrick
No. 11/10
What Is Driving Financial De-dollarization in Latin America?
Garcia-Escribano, Mercedes; Sosa, Sebastian
No. 11/11
The Spanish Labor Market in a Cross-Country Perspective
Jaumotte, Florence
No. 11/12
How Does Political Instability Affect Economic Growth?
Aisen, Ari; Veiga, Francisco José
No. 11/13
The Impact of Fiscal Consolidation and Structural Reforms on Growth in Japan
Berkmen, Pelin
No. 11/14
Interpreting Currency Movements During the Crisis: What’s the Role of Interest Rate Differentials?
Dowling, Thomas; Batini, Nicoletta
No. 11/15
To Fire or to Hoard? Explaining Japan’s Labor Market Response in the Great Recession
Nakane, Masato; Steinberg, Chad
No. 11/16
Trade and Trade Finance in the 2008-09 Financial Crisis
Niculcea, Ioana; Asmundson, Irena; Dorsey, Thomas William; Khachatryan, Armine; Saito, Mika
No. 11/17
Strengthening Chile’s Rule-Based Fiscal Framework
Dabán Sánchez, Teresa
No. 11/18
Determinants of Remittances: Evidence from Tonga
Lin, Huidan
No. 11/19
Investment Objectives of Sovereign Wealth Funds - A Shifting Paradigm
Kunzel, Peter; Lu, Yinqiu; Petrova, Iva; Pihlman, Jukka
No. 11/20
Armenia: An Assessment of the Real Exchange Rate and Competitiveness
Weber, Anke; Yang, Chunfang
No. 11/21
Government Debt Issuance in the Euro Area: The Impact of the Financial Crisis
de Broeck, Mark; Guscina, Anastasia
No. 11/22
Exploration of the Brazilian Term Structure in a Hidden Markov Framework
Munclinger, Richard
No. 11/23
Consolidated Regulation and Supervision in the United States
Bhatia, Ashok Vir
No. 11/24
Overborrowing, Financial Crises and “Macro-prudential” Policy?
Bianchi, Javier; Mendoza, Enrique G.
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Seven Questions on the Role of Precautionary Savings in Open Economies