Abstract
The IMF Research Bulletin summarizes key research from the IMF and includes a listing recent publications in different online series.
Working Paper 15/238
Defining the Government’s Debt and Deficit
Timothy Irwin
Working Paper 15/239
Monetary Transmission: Are Emerging Market and Low Income Countries Different?
Ales Bulir, Jan Vlcek
Working Paper 15/240
External Devaluations: Are Small States Different?
Sebastian Acevedo Mejia, Aliona Cebotari, Kevin Greenidge, Geoffrey N. Keim
Working Paper 15/241
Spillovers from Global and Regional Shocks to Armenia
Knarik Ayvazyan, Teresa Dabán Sánchez
Working Paper 15/242
End of the Supercycle and Growth of Commodity Producers: The Case of Chile
Luc Eyraud
Working Paper 15/243
Capital Account Liberalization and Inequality
Davide Furceri, Prakash Loungani
Working Paper 15/244
Functional Income Distribution and Its Role in Explaining Inequality
Maura Francese, Carlos Mulas-Granados
Working Paper 15/245
Informality in Paraguay: Macro-Micro Evidence and Policy Implications
Mauricio Vargas
Working Paper 15/246
Recognizing the Bias: Financial Cycles and Fiscal Policy
Nina Budina, Borja Gracia, Xingwei Hu, Sergejs Saksonovs
Working Paper 15/247
Resolution Frameworks for Islamic Banks
Elsie Addo Awadzi, Carine Chartouni, Mario Tamez
Working Paper 15/248
How Do Public Debt Cycles Interact with Financial Cycles?
Tigran Poghosyan
Working Paper 15/249
Bank Profitability and Risk-Taking
Natalya Martynova, Lev Ratnovski, Razvan Vlahu
Working Paper 15/250
The Unequal Benefits of Fuel Subsidies Revisited: Evidence for Developing Countries
David Coady, Valentina Flamini, Louis Sears
Working Paper 15/251
Forecasting the Nominal Brent Oil Price with VARs—One Model Fits All?
Benjamin Beckers, Samya Beidas-Strom
Working Paper 15/252
Global Value Chains and the Exchange Rate Elasticity of Exports
Swarnali Ahmed, Maximiliano Appendino, Michele Ruta
Working Paper 15/253
Multivariate Filter Estimation of Potential Output for the Euro Area and the United States
Ali Alichi, Olivier Bizimana, Silvia Domit, Emilio Fernández Corugedo, Douglas Laxton, Kadir Tanyeri, Hou Wang, Fan Zhang
Working Paper 15/254
The Nordic Labor Market and Migration
Giang Ho, Kazuko Shirono
Working Paper 15/255
Contingent Liabilities from Banks: How to Track Them?
Serkan Arslanalp, Yin Liao
Working Paper 15/256
If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows
Swarnali Ahmed
Working Paper 15/257
Debt Maturity: Does It Matter for Fiscal Space?
Jun Il Kim
Working Paper 15/258
Taylor Visits Africa
Carlos Goncalves
Working Paper 15/259
The U.S. Oil Supply Revolution and the Global Economy
Kamiar Mohaddes, Mehdi Raissi
Working Paper 15/260
Interest Rate Pass-Through in the Dominican Republic
Francesco Grigoli, José M. Mota
Working Paper 15/261
The Whole Elephant: A Proposal for Integrating Cash, Accrual, and Sustainability-Gap Accounts
Timothy Irwin
Working Paper 15/262
Fiscal Consolidation during Times of High Unemployment: The Role of Productivity Gains and Wage Restraint
Ruy Lama, Juan Pablo Medina Guzman
Working Paper 15/263
Emerging Market Portfolio Flows: The Role of Benchmark-Driven Investors
Serkan Arslanalp, Takahiro Tsuda
Working Paper 15/264
Crowding-Out or Crowding-In? Public and Private Investment in India
Mehdi Raissi, Volodymyr Tulin, Girish Bahal
Working Paper 15/265
Explaining Inequality and Poverty Reduction in Bolivia
Mauricio Vargas, Santiago Garriga
Working Paper 15/266
Inflation Dynamics and Monetary Policy in Bolivia
Alejandro D. Guerson
Working Paper 15/267
Impact of the New Financial Services Law in Bolivia on Financial Stability and Inclusion
Dyna Heng
Working Paper 15/268
Exiting From Fragility in Sub-Saharan Africa: The Role of Fiscal Policies and Fiscal Institutions
Corinne Deléchat, Ejona Fuli, Dafina Mulaj, Gustavo Ramirez, Rui Xu
Working Paper 15/269
How External Factors Affect Domestic Economy: Nowcasting an Emerging Market
Serhat Solmaz, Marzie Taheri Sanjani
Working Paper 15/270
Monetary Policy in a Developing Country: Loan Applications and Real Effects
Charles Abuka, Ronnie K Alinda, Camelia Minoiu, José-Luis Peydró, Andrea Presbitero
Working Paper 15/271
March Madness in Wall Street: (What) Does the Market Learn from Stress Tests?
Marcelo Fernandes, Deniz Igan, Marcelo Pinheiro
Working Paper 15/272
Some Misconceptions about Public Investment Efficiency and Growth
Andrew Berg, Edward F. Buffie, Catherine A. Pattillo, Rafael Portillo, Andrea Presbitero, Luis-Felipe Zanna
Working Paper 15/273
A Macro-Model Approach to Monetary Policy Analysis and Forecasting for Vietnam
Allan Dizioli, Jochen M. Schmittmann
Working Paper 15/274
Financial Distortions in China: A General Equilibrium Approach
Diego Anzoategui, Mali Chivakul, Wojciech Maliszewski
Working Paper 15/275
International Sovereign Bonds by Emerging Markets and Developing Economies: Drivers of Issuance and Spreads
Andrea Presbitero, Dhaneshwar Ghura, Olumuyiwa Adedeji, Lamin Njie
Working Paper 15/276
Housing Price and Household Debt Interactions in Sweden
Rima Turk
Working Paper 15/277
Changes in the Global Investor Base and the Stability of Portfolio Flows to Emerging Markets
Luis Brandao-Marques, Gaston Gelos, Hibiki Ichiue, Hiroko Oura
Working Paper 15/278
From Expenditure Consolidation to Expenditure Efficiency: Addressing Public Expenditure Pressures in Lithuania
David Coady, Nan Geng
Working Paper 15/279
Reforming the Legal and Institutional Framework for the Enforcement of Civil and Commercial Claims in Portugal
Sebastiaan Pompe, Wolfgang Bergthaler
Working Paper 15/280
Sharing a Ride on the Commodities Roller Coaster: Common Factors in Business Cycles of Emerging Economies
Andres Fernandez, Andres Gonzalez, Diego Rodriguez
Working Paper 15/281
The Game of Anchors: Studying the Causes of Currency Crises in Belarus
Alex Miksjuk, Sam Ouliaris, Mikhail Pranovich
Working Paper 15/282
Long-Term Gain, Short-Term Pain: Assessing the Potential Impact of Structural Reforms in Chile
Marika Santoro
Working Paper 15/283
Will Macroprudential Policy Counteract Monetary Policy’s Effects on Financial Stability?
Itai Agur, Maria Demertzis
Working Paper 15/284
Floating with a Load of FX Debt?
Tatsiana Kliatskova, Uffe Mikkelsen
Working Paper 15/285
Corporate Investment in Emerging Markets: Financing vs. Real Options Channel
Delong Li, Nicolas E. Magud, Fabian Valencia
Working Paper 15/286
Government Spending Effects in Low-income Countries
Wenyi Shen, Shu-Chun S. Yang, Luis-Felipe Zanna
Working Paper 15/287
The Impact of Unconventional Monetary Policy Measures by the Systemic Four on Global Liquidity and Monetary Conditions
Yevgeniya Korniyenko, Elena Loukoianova
Working Paper 15/288
Effects of Monetary and Macroprudential Policies on Financial Conditions: Evidence from the United States
Aleksandra Zdzienicka, Sally Chen, Federico Diaz Kalan, Stefan Laseen, Katsiaryna Svirydzenka
Working Paper 16/1
Non-Linear Exchange Rate Pass-Through in Emerging Markets
Francesca G. Caselli, Agustin Roitman
Working Paper 16/2
Understanding India’s Food Inflation: The Role of Demand and Supply Factors
Rahul Anand, Naresh Kumar, Volodymyr Tulin
Working Paper 16/3
Cost-Benefit Analysis of Leaning Against the Wind: Are Costs Larger Also with Less Effective Macroprudential Policy?
Lars E. O. Svensson
Working Paper 16/4
Effectiveness and Channels of Macroprudential Instruments: Lessons from the Euro Area
Thierry Tressel, Yuanyan Sophia Zhang
Working Paper 16/5
Introducing a New Broad-Based Index of Financial Development
Katsiaryna Svirydzenka
Working Paper 16/6
The Labor Market Performance of Immigrants in Germany
Robert C. M. Beyer
Working Paper 16/7
From Containment to Rationalization: Increasing Public Expenditure Efficiency in France
Jean-Jacques Hallaert, Maximilien Queyranne
Working Paper 16/8
Flexible Fiscal Rules and Countercyclical Fiscal Policy
Martine Guerguil, Pierre Mandon, Rene Tapsoba
Working Paper 16/9
Risks of Stagnation in the Euro Area
Huidan Lin
Working Paper 16/10
The Lender of Last Resort Function after the Global Financial Crisis
Marc Dobler, Simon Gray, Diarmuid Murphy, Bozena Radzewicz-Bak
Working Paper 16/11
The Financial Wealth of Corporations: A First Look at Sectoral Balance Sheet Data
Yuko Hashimoto, Noriaki Kinoshita
Working Paper 16/12
Commodity Price Shocks and Financial Sector Fragility
Tidiane Kinda, Montfort Mlachila, Rasmané Ouedraogo
Working Paper 16/13
Estimating Fiscal Multipliers with Correlated Heterogeneity
Emmanouil Kitsios, Manasa Patnam
Working Paper 16/14
The Fiscal Costs of Contingent Liabilities: A New Dataset
Elva Bova, Marta Ruiz-Arranz, Frederik G. Toscani, H. Elif Ture
Working Paper 16/15
Structural Reforms and Productivity Growth in Emerging Market and Developing Economies
Era Dabla-Norris, Giang Ho, Annette Kyobe
Working Paper 16/16
Macroeconomic Impacts of Gender Inequality and Informality in India
Purva Khera
Working Paper 16/17
Unintended Consequences: Spillovers from Nigeria’s Fuel Pricing Policies to Its Neighbor
Montfort Mlachila, Edgardo Ruggiero, David Corvino
Working Paper 16/18
From Global Savings Glut to Financing Infrastructure: The Advent of Investment Platforms
Rabah Arezki, Patrick Bolton, Sanjay Peters, Frederic Samama, Joseph Stiglitz
Working Paper 16/19
Robust Measures of Core Inflation for Vietnam
Sanjay Kalra, Bui Thi Trang Dzung
Working Paper 16/20
Wage-Price Dynamics and Structural Reforms in Japan
Davide Porcellacchia
Working Paper 16/21
Trends in Gender Equality and Women’s Advancement
Janet Gale Stotsky, Sakina Shibuya, Lisa Kolovich, Suhaib Kebhaj
Working Paper 16/22
An Empirical Investigation of Oil-Macro-Financial Linkages in Saudi Arabia
Ken Miyajima
Working Paper 16/23
Pass-Through of Imported Input Prices to Domestic Producer Prices: Evidence from Sector-Level Data
JaeBin Ahn, Chang-Gui Park, Chanho Park
Working Paper 16/24
South Africa’s Exports Performance: Any Role for Structural Factors?
Rahul Anand, Roberto Perrelli, Boyang Zhang
Working Paper 16/25
What’s in a Name? That Which We Call Capital Controls
Atish R. Ghosh, Mahvash Qureshi
Working Paper 16/26
Pilot Project on Concentration and Distribution Measures for a Selected Set of Financial Soundness Indicators
Joseph Crowley, Plapa Koukpamou, Elena Loukoianova, André Mialou
Working Paper 16/27
Trading on Their Terms? Commodity Exporters in the Aftermath of the Commodity Boom
Aqib Aslam, Samya Beidas-Strom, Rudolfs Bems, Oya Celasun, Sinem Kiliç Çelik, Zsoka Koczan
Working Paper 16/28
Leading Indicators of Fiscal Distress: Evidence from the Extreme Bound Analysis
Martin Bruns, Tigran Poghosyan
Working Paper 16/29
Macroprudential Policies in Southeastern Europe
Dilyana Dimova, Piyabha Kongsamut, Jérôme Vandenbussche
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.