IMF Research Bulletin summarizes some of the recent research activities of the IMF.


IMF Research Bulletin summarizes some of the recent research activities of the IMF.

IMF Working Papers and other IMF publications can be downloaded in full-text format from the Research at the IMF website:

Working Paper No. 17/133

Bottom-Up Default Analysis of Corporate Solvency Risk: An Application to Latin America

Jorge A. Chan-Lau, Cheng Hoon Lim, Jose Daniel Rodríguez-Delgado, Bennett W. Sutton, Melesse Tashu

Working Paper No. 17/134

Financial Frictions, Underinvestment, and Investment Composition: Evidence from Indian Corporates

Sonali Das, Volodymyr Tulin

Working Paper No. 17/135

Capital Controls and the Cost of Debt

Eugenia Andreasen, Martin Schindler, Patricio A. Valenzuela

Working Paper No. 17/136

ABBA: An Agent-Based Model of the Banking System

Jorge A. Chan-Lau

Working Paper No. 17/137

Heterogeneity of Bank Risk Weights in the EU: Evidence by Asset Class and Country of Counterparty Exposure

Rima Turk-Ariss

Working Paper No. 17/138

Public Investment Scaling-up and Debt Sustainability: The Case of Energy Sector Investments in the Caribbean

Ahmed El-Ashram

Working Paper No. 17/139

The Right Kind of Help?: Tax Incentives for Staying Small

Dora Benedek, Pragyan Deb, Borja Gracia, Sergejs Saksonovs, Anna Shabunina, Nina Budina

Working Paper No. 17/140

Cross-Country Spillovers of Fiscal Consolidations in the Euro Area

Tigran Poghosyan

Working Paper No. 17/141

Who Dares, Wins: Labor Market Reforms and Sovereign Yields

Christian H. Ebeke

Working Paper No. 17/142

Tipping the Scale?: The Workings of Monetary Policy through Trade

Gustavo Adler, Carolina Osorio Buitron

Working Paper No. 17/143

Financial Development and Source of Growth: New Evidence

Sami Ben Naceur, Robert Blotevogel, Mark Fischer, Haiyan Shi

Working Paper No. 17/144

Migration and Remittances in Latin America and the Caribbean: Engines of Growth and Macroeconomic Stabilizers?

Kimberly Beaton, Svetlana Cerovic, Misael Galdamez, Metodij Hadzi-Vaskov, Franz Loyola, Zsoka Koczan, Bogdan Lissovolik, Jan Kees Martijn, Yulia Ustyugova, Joyce Wong

Working Paper No. 17/145

Fiscal Reforms, Long-term Growth and Income Inequality

Santiago Acosta Ormaechea, Takuji Komatsuzaki, Carolina Correa-Caro

Working Paper No. 17/146

Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Carlos Carvalho, Gee Hee Hong, Jing Zhou

Working Paper No. 17/147

Does the Stock Market Boost Firm Innovation?: Evidence from Chinese Firms

Hui He, Hanya Li, Jinfan Zhang

Working Paper No. 17/148

Trade Integration in Latin America: A Network Perspective

Kimberly Beaton, Aliona Cebotari, Xiaodan Ding, Andras Komaromi

Working Paper No. 17/149

Towards Macroprudential Stress Testing: Incorporating Macro-Feedback Effects

Ivo Krznar, Troy D. Matheson

Working Paper No. 17/150

Panama’s Growth Prospects: Determinants and Sectoral Perspectives

Kimberly Beaton, Metodij Hadzi-Vaskov

Working Paper No. 17/151

The Macroeconomic Effects of Trade Tariffs: Revisiting the Lerner Symmetry Result

Jesper Lindé, Andrea Pescatori

Working Paper No. 17/152

Central Bank Emergency Support to Securities Markets

Darryl King, Luis Brandao-Marques, Kelly Eckhold, Peter Lindner, Diarmuid Murphy

Working Paper No. 17/153

Financial Stability Analysis: What Are the Data Needs?

Robert M. Heath, Evrim Bese Goksu

Working Paper No. 17/154

Exchange Rate Choices with Inflexible Markets and Costly Price Adjustments

Tara Iyer

Working Paper No. 17/155

IMF Lending in an Interconnected World

Jean-Guillaume Poulain, Julien Reynaud

Working Paper No. 17/156

The Informal Economy in Sub-Saharan Africa: Size and Determinants

Leandro Medina, Andrew W. Jonelis, Mehmet Cangul

Working Paper No. 17/157

A License to Issue (Anywhere): Patterns and Drivers of Corporate Bonds in Latin America

Svetlana Vtyurina, Adrian Robles, Bennett W. Sutton

Working Paper No. 17/158

The Evolution of Potential VAT Revenues and C-Efficiency in Advanced Economies

Junji Ueda

Working Paper No. 17/159

On Swing Pricing and Systemic Risk Mitigation

Sheheryar Malik, Peter Lindner

Working Paper No. 17/160

A Crude Shock: Explaining the Impact of the 2014–16 Oil Price Decline Across Exporters

Francesco Grigoli, Alexander Herman, Andrew J. Swiston

Working Paper No. 17/161

Basel Compliance and Financial Stability: Evidence from Islamic Banks

Mohammad Bitar, Sami Ben Naceur, Rym Ayadi, Thomas Walker

Working Paper No. 17/162

The Re-Emerging Privilege of Euro Area Membership

Johannes Wiegand

Working Paper No. 17/163

Financial Resource Curse in Resource-Rich Countries

Montfort Mlachila, Rasmané Ouedraogo

Working Paper No. 17/164

Designing a Simple Loss Function for Central Banks: Does a Dual Mandate Make Sense?

Davide Debortoli, Jinill Kim, Jesper Lindé, Ricardo C Nunes

Working Paper No. 17/165

Smooth Operator: Remittances and Fiscal Shocks

Kimberly Beaton, Serhan Cevik, Reza Yousefi

Working Paper No. 17/166

Women Are Key for Future Growth: Evidence from Canada

Bengt Petersson, Rodrigo Mariscal, Kotaro Ishi

Working Paper No. 17/167

What Explains the Decline of the U.S. Labor Share of Income?: An Analysis of State and Industry Level Data

Yasser Abdih, Stephan Danninger

Working Paper No. 17/168

Efficiency-Adjusted Public Capital, Capital Grants, and Growth

Ernesto Crivelli

Working Paper No. 17/169

Why Is Labor Receiving a Smaller Share of Global Income?: Theory and Empirical Evidence

Mai Chi Dao, Mitali Das, Zsoka Koczan, Weicheng Lian

Working Paper No. 17/170

Macroprudential Policy Spillovers: A Quantitative Analysis

Heedon Kang, Francis Vitek, Rina Bhattacharya, Phakawa Jeasakul, Sònia Muñoz, Naixi Wang, Rasool Zandvakil

Working Paper No. 17/171

Sovereign Debt Restructurings in Grenada: Causes, Processes, Outcomes, and Lessons Learned

Tamon Asonuma, Xin Li, Michael G. Papaioannou, Saji Thomas

Working Paper No. 17/172

Central Bank Balance Sheet Policies and Spillovers to Emerging Markets

Manmohan Singh, Haobin Wang

Working Paper No. 17/173

Government Financial Assets and Debt Sustainability

Camila Henao Arbelaez, Nelson Sobrinho

Working Paper No. 17/174

Uphill Capital Flows and the International Monetary System

Balazs Csonto, Camilo E. Tovar Mora

Working Paper No. 17/175

Bank Consolidation, Efficiency, and Profitability in Italy

Anke Weber

Working Paper No. 17/176

The Financing of Ideas and the Great Deviation

Daniel Garcia-Macia

Working Paper No. 17/177

Mining Spillovers in Chile

Esther Perez Ruiz

Working Paper No. 17/178

Calculating Trade in Value Added

Aqib Aslam, Natalija Novta, Fabiano Rodrigues-Bastos

Working Paper No. 17/179

Leaning Against Windy Bank Lending

Giovanni Melina, Stefania Villa

Working Paper No. 17/180

When Gambling for Resurrection Is Too Risky

Divya Kirti

Working Paper No. 17/181

Back to the Future: The Nature of Regulatory Capital Requirements

Ralph Chami, Thomas F. Cosimano, Emanuel Kopp, Celine Rochon

Working Paper No. 17/182

Structural Reforms and External Rebalancing

Alexander Culiuc, Annette Kyobe

Working Paper No. 17/183

Corporate Investment and the Real Exchange Rate

Mai Chi Dao, Camelia Minoiu, Jonathan David Ostry

Working Paper No. 17/184

The Nonlinear Interaction Between Monetary Policy and Financial Stress

Martín Saldías

Working Paper No. 17/185

Cyber Risk, Market Failures, and Financial Stability

Emanuel Kopp, Lincoln Kaffenberger, Christopher Wilson

Working Paper No. 17/186

Stabilizing the System of Mortgage Finance in the United States

Richard Koss

Working Paper No. 17/187

Taxation and the Peer-to-Peer Economy

Aqib Aslam, Alpa Shah

Working Paper No. 17/188

Bankruptcy Technology, Finance, and Entrepreneurship

Nelson Sobrinho

Working Paper No. 17/189

Finance and Employment in Developing Countries: The Working Capital Channel

Mai Chi Dao, Lucy Qian Liu

Working Paper No. 17/190

Housing Finance and Real Estate Markets in Colombia

Francisco Roch

Working Paper No. 17/191

Emissions and Growth: Trends and Cycles in a Globalized World

Gail Cohen, João Tovar Jalles, Prakash Loungani, Ricardo Marto

Working Paper No. 17/192

Macroeconomic and Distributional Effects of Personal Income Tax Reforms: A Heterogenous Agent Model Approach for the U.S.

Sandra V. Lizarazo Ruiz, Adrian Peralta-Alva, Damien Puy

Working Paper No. 17/193

How Important Is the Global Financial Cycle? Evidence from Capital Flows

Eugenio M. Cerutti, Stijn Claessens, Andrew K. Rose

Working Paper No. 17/194

Western Balkans: Increasing Women’s Role in the Economy

Ruben V. Atoyan, Jesmin Rahman

Working Paper No. 17/195

The Political Economy of Fiscal Transparency and Independent Fiscal Councils

Roel M.W.J. Beetsma, Xavier Debrun, Randolph Sloof

Working Paper No. 17/196

Oil Prices and Inflation Dynamics: Evidence from Advanced and Developing Economies

Sangyup Choi, Davide Furceri, Prakash Loungani, Saurabh Mishra, Marcos Poplawski-Ribeiro

Working Paper No. 17/197

Benchmarking Social Spending Using Efficiency Frontiers

Javier Kapsoli, Iulia Ruxandra Teodoru

Working Paper No. 17/198

Fiscal Stabilization and Growth: Evidence from Industry-level Data for Advanced and Developing Economies

Sangyup Choi, Davide Furceri, João Tovar Jalles

Working Paper No. 17/199

Banking on Women Leaders: A Case for More?

Ratna Sahay, Martin Cihak, Papa M. N’Diaye, Adolfo Barajas, Annette Kyobe, Srobona Mitra, Yen N. Mooi, Reza Yousefi

Working Paper No. 17/200

The Effect of Leverage on Asset Sales Between Financial Institutions

Sonali Das

Working Paper No. 17/201

What Prevents a Real Business Cycle Model from Matching the U.S. Data? Decomposing the Labor Wedge

Dmitry Plotnikov

Working Paper No. 17/202

Growth Breaks and Growth Spells in Sub-Saharan Africa

Francisco Arizala, Jesus R. Gonzalez-Garcia, Charalambos G. Tsangarides, Mustafa Yenice

Working Paper No. 17/203

Medium-Term Budget Frameworks in Sub-Saharan African Countries

Richard Allen, Taz Chaponda, Lesley Fisher, Rohini Ray

Working Paper No. 17/204

Policy Mix and the U.S. Trade Balance

Gustavo Adler, Carolina Osorio Buitron

Working Paper No. 17/205

Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth

Sakai Ando, Koffie Ben Nassar

Working Paper No. 17/206

Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?

Francesca G. Caselli

Working Paper No. 17/207

FX Intervention in the New Keynesian Model

Zineddine Alla, Raphael A. Espinoza, Atish R. Ghosh

Working Paper No. 17/208

The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru

Francisco Roch

Working Paper No. 17/209

Loss of Correspondent Banking Relationships in the Caribbean: Trends, Impact, and Policy Options

Trevor Serge Coleridge Alleyne, Jacques Bouhga-Hagbe, Thomas Dowling, Dmitriy Kovtun, Alla Myrvoda, Joel Chiedu Okwuokei, Jarkko Turunen

Working Paper No. 17/210

Interconnectedness of Global Systemically-Important Banks and Insurers

Sheheryar Malik, TengTeng Xu

Working Paper No. 17/211

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation

Ambrogio Cesa-Bianchi, Emilio Fernández Corugedo

Working Paper No. 17/212

Quantitative Easing and Long-Term Yields in Small Open Economies

Antonio Diez de los Rios, Maral Shamloo

Working Paper No. 17/213

Settling the Inflation Targeting Debate: Lights from a Meta-Regression Analysis

Hippolyte W. Balima, Eric G. Kilama, Rene Tapsoba

Working Paper No. 17/214

Lessons from the Old Masters on Assessing Equity and Efficiency: A Primer for Fiscal Policymakers

Vitor Gaspar, Paolo Mauro, Tigran Poghosyan

Working Paper No. 17/215

Market Reforms at the Zero Lower Bound

Matteo Cacciatore, Romain A. Duval, Giuseppe Fiori, Fabio Ghironi

Working Paper No. 17/216

Understanding Correspondent Banking Trends: A Monitoring Framework

Dirk Jan Grolleman, David Jutrsa

IMF Research Bulletin, Fall 2017
Author: International Monetary Fund. Research Dept.