Abstract
The Global Macroeconomic Costs of Raising Bank Capital Adequacy Requirements
Working Paper 12/44
The Global Macroeconomic Costs of Raising Bank Capital Adequacy Requirements
Roger, Scott; Vitek, Francis
Working Paper 12/45
Fiscal Performance, Institutional Design and Decentralization in European Union Countries
Escolano, Julio; Eyraud, Luc; Moreno Badia, Marialuz; Sarnes, Juliane; Tuladhar, Anita
Working Paper 12/46
Short-term Wholesale Funding and Systemic Risk: A Global CoVaR Approach
Lopez-Espinosa, German; Moreno, Antonio; Rubia, Antonio; Valderrama, Laura
Working Paper 12/47
Inclusive Growth, Institutions, and the Underground Economy
Singh, Anoop; Jain-Chandra, Sonali; Mohommad, Adil
Working Paper 12/48
Debt, Taxes, and Banks
Keen, Michael; Mooij, Ruud A. de
Working Paper 12/49
Spillovers to Low-Income Countries: Importance of Systemic Emerging Markets
Dabla-Norris, Era; Espinoza, Raphael A.; Jahan, Sarwat
Working Paper 12/50
The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks
Goetz, Martin; Laeven, Luc; Levine, Ross
Working Paper 12/51
Fiscal Policy and the Current Account: Are Microstates Different?
Endegnanew, Yehenew; Yartey, Charles Amo; Turner-Jones, Therese
Working Paper 12/52
Fiscal Policy and the Real Exchange Rate
Chatterjee, Santanu; Mursagulov, Azer
Working Paper 12/53
From Stress to CoStress: Stress Testing Interconnected Banking Systems
Maino, Rodolfo; Tintchev, Kalin
Working Paper 12/54
Can Institutional Reform Reduce Job Destruction and Unemployment Duration? Yes It Can
Pérez, Esther; Yao, Yao
Working Paper 12/55
Coincident Indicators of Capital Flows
Miao, Yanliang; Pant, Malika
Working Paper 12/56
India’s Growth Spillovers to South Asia
Ding, Ding; Masha, Iyabo
Working Paper 12/57
An Integrated Framework for Financial Positions and Flows on a From-Whom-to-Whom Basis: Concepts, Status, and Prospects
Shrestha, Manik L.; Mink, Reimund; Fassler, Segismundo
Working Paper 12/58
Systemic Real and Financial Risks: Measurement, Forecasting, and Stress Testing
De Nicoló, Gianni; Lucchetta, Marcella
Working Paper 12/59
Structural Transformation and the Sophistication of Production
Anand, Rahul; Mishra, Saurabh; Spatafora, Nicola
Working Paper 12/60
Does Central Bank Capital Matter for Monetary Policy?
Adler, Gustavo; Castro, Pedro; Tovar Mora, Camilo Ernesto
Working Paper 12/61
Current Account Imbalances: Can Structural Policies Make a Difference?
Ivanova, Anna
Working Paper 12/62
The Puzzle of Brazil’s High Interest Rates
Segura-Ubiergo, Alex
Working Paper 12/63
Operative Principles of Islamic Derivatives—Towards a Coherent Theory
Jobst, Andreas; Sole, Juan
Working Paper 12/64
Labor Market Flexibility and Unemployment: New Empirical Evidence of Static and Dynamic Effects
Bernal-Verdugo, Lorenzo E.; Furceri, Davide; Guillaume, Dominique M.
Working Paper 12/65
Crises, Labor Market Policy, and Unemployment
Bernal-Verdugo, Lorenzo E.; Furceri, Davide; Guillaume, Dominique M.
Working Paper 12/66
Exchange-Rate Dark Matter
Evans, Martin D. D.
Working Paper 12/67
Are Foreign Aid and Remittance Inflows a Hedge against Food Price Shocks?
Combes, Jean-Louis; Ebeke, Christian H; Etoundi, Mireille Ntsama; Yogo, Thierry
Working Paper 12/68
Balance-Sheet Shocks and Recapitalizations
Sandri, Damiano; Valencia, Fabian
Working Paper 12/69
How Do Exchange Rate Regimes Affect Firms’ Incentives to Hedge Currency Risk? Micro Evidence for Latin America
Kamil, Herman
Working Paper 12/70
Does the Business Environment Affect Corporate Investment in India?
Tokuoka, Kiichi
Working Paper 12/71
Bank Asset Quality in Emerging Markets: Determinants and Spillovers
De Bock, Reinout; Demyanets, Alexander
Working Paper 12/72
Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking
De Nicoló, Gianni; Gamba, Andrea; Lucchetta, Marcella
Working Paper 12/73
Exchange Rate Volatility Under Peg: Do Trade Patterns Matter?
Lonkeng Ngouana, Constant
Working Paper 12/74
BRICs’ Philosophies for Development Financing and Their Implications for LICs
Mwase, Nkunde; Yang, Yongzheng
Working Paper 12/75
De-Monopolization Toward Long-Term Prosperity in China
Ahuja, Ashvin
Working Paper 12/76
Strengthening Russia’s Fiscal Framework
Gust, Charleen; Zakharova, Daria
Working Paper 12/77
CDS Spreads in European Periphery—Some Technical Issues to Consider
Bilal, Mohsan; Singh, Manmohan
Working Paper 12/78
Macrofinance Model of the Czech Economy: Asset Allocation Perspective
Kollar, Miroslav
Visiting Scholars, April–June 2012
Laurence Ball, Johns Hopkins University:
5/1/12-4/30/13
Robert Johnson, Dartmouth College: 2/23/12-8/31/12
Andrea Filippo Presbitero: 5/1/12-5/14/12
Jay Shambaugh, Dartmouth College:
12/12/11-12/31/12
IMF Fellowship Program
The IMF recently announced the selection of three new IMF Fellows under a new program to further policy-relevant research of interest to the international financial community. To read more on the fellowship program and the new fellows please visit: http://www.imf.org/external/np/res/fellowship/new/040112.htm
Working Paper 12/79
The Global Welfare Impact of China: Trade Integration and Technological Change
di Giovanni, Julian; Levchenko, Andrei A.; Zhang, Jing
Working Paper 12/80
Determinants of Corporate Investment in China: Evidence from Cross-Country Firm Level Data
Geng, Nan; N’Diaye, Papa
Working Paper 12/81
Trade and Financial Spillover on Hong Kong SAR from a Downturn in Europe and Mainland China
N’Diaye, Papa; Ahuja, Ashvin
Working Paper 12/82
Fiscal Policy Response to External Crises: The Case of Moldova 1998-2010
Qehaja, Driton
Working Paper 12/83
Assessing DSGE Models with Capital Accumulation and Indeterminacy
Khramov, Vadim
Working Paper 12/84
Institutions, Informality, and Wage Flexibility: Evidence from Brazil
Estevão, Marcello M.; Carvalho Filho, Irineu E.
Working Paper 12/85
“Fiscal Devaluation” and Fiscal Consolidation: The VAT in Troubled Times
Mooij, Ruud A. de; Keen, Michael
Working Paper 12/86
Global Food Price Inflation and Policy Responses in Central Asia
Al-Eyd, A. J.; Amaglobeli, David; Shukurov, Bahrom; Sumlinski, Mariusz A.
Working Paper 12/87
Institutional Transformations, Polity and Economic Outcomes: Testing the North-Wallis-Weingast Doorsteps Framework
Gollwitzer, Sophia; Quintyn, Marc
Working Paper 12/88
Spillover Effects of Exchange Rates: A Study of the Renminbi
Mattoo, Aaditya; Mishra, Prachi; Subramanian, Arvind
Working Paper 12/89
Commodity Prices and Inflation Expectations in the United States
Celasun, Oya; Mihet, Roxana; Ratnovski, Lev
Working Paper 12/90
Revisiting Risk-Weighted Assets
Le Leslé, Vanessa; Avramova, Sofiya
Working Paper 12/91
Narrowing Vertical Fiscal Imbalances in Four European Countries
Karpowicz, Izabela
Working Paper 12/92
Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look
Klein, Nir
Working Paper 12/93
Fiscal Policies and Rules in the Face of Revenue Volatility Within Southern Africa Customs Union Countries (SACU)
Basdevant, Olivier
Working Paper 12/94
Monetary Policy in Low Income Countries in the Face of the Global Crisis: The Case of Zambia
Baldini, Alfredo; Benes, Jaromir; Berg, Andrew; Dao, Mai; Portillo, Rafael
Working Paper 12/95
Money and Collateral
Singh, Manmohan; Stella, Peter
Working Paper 12/96
Modeling with Limited Data: Estimating Potential Growth in Cambodia
Rungcharoenkitkul, Phurichai
Working Paper 12/97
Asymmetric Effects of the Financial Crisis: Collateral-Based Investment-Cash Flow Sensitivity Analysis
Khramov, Vadim
Working Paper 12/98
Financial Regulation and the Current Account
Lanau, Sergi; Wieladek, Tomasz
Working Paper 12/99
Unemployment and Labor Market Issues in Algeria
Furceri, Davide
Working Paper 12/100
An End To China’s Imbalances?
Ahuja, Ashvin; Chalk, Nigel Andrew; Nabar, Malhar; N’Diaye, Papa; Porter, Nathan
Working Paper 12/101
Central Bank Independence and Macroprudential Regulation
Ueda, Kenichi; Valencia, Fabian
Working Paper 12/102
Consequences of Asset Shortages in Emerging Markets
Chen, Jiaqian; Imam, Patrick A.
Working Paper 12/103
Bank Credit, Asset Prices and Financial Stability: Evidence from French Banks
Pouvelle, Cyril
Working Paper 12/104
Remittances Channel and Fiscal Impact in the Middle East, North Africa, and Central Asia
Abdih, Yasser; Barajas, Adolfo; Chami, Ralph; Ebeke, Christian
Working Paper 12/105
Post-Laspeyres: The Case for a New Formula for Compiling Consumer Price Indexes
Armknecht, Paul A.; Silver, Mick
Working Paper 12/106
Structural Reforms and Regional Convergence
Spilimbergo, Antonio; Che, Natasha Xingyuan
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.