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IMF Working Papers
from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC . Series data maintained by Christopher F. Baum ().
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09/255: Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits
Michael Kumhof , Dirk Muir , Charles Freedman , Susanna Mursula and Douglas Laxton
09/254: Credit Derivatives: Systemic Risks and Policy Options?
Jennifer A. Elliott , John Kiff , Elias G. Kazarian , Jodi G. Scarlata and Carolyne Spackman
09/253: Adding Indonesia to the Global Projection Model
Charles Freedman , Michal Andrle , Danny Hermawan , Haris Munandar , Garcia-Saltos, Roberto and Douglas Laxton
09/252: Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
Pau Rabanal , Prakash Kannan and Alasdair Scott
09/251: Monetary and Macroprudential Policy Rules in a Model with House Price Booms
Pau Rabanal , Prakash Kannan and Alasdair Scott
09/250: The Stock of Intangible Capital in Canada: Evidence from the Aggregate Value of Securities
Nazim Belhocine
09/249: Countering the Cycle - The Effectiveness of Fiscal Policy in Korea
Leif Lybecker Eskesen
09/248: Today versus Tomorrow: The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income
Tamim Bayoumi and Alun H. Thomas
09/247: Financial Sector Surveillance and the IMF
Carlo Gola and Francesco Spadafora
09/246: Governance and Fund Management in the Chinese Pension System
Gregorio Impavido , Hu, Yu-Wei and Xiaohong Li
09/245: What’s the Damage? Medium-term Output Dynamics After Banking Crises
Abdul Abiad , Daniel Leigh , Irina Tytell , Ravi Balakrishnan and Petya Koeva Brooks
09/244: A Rule-Based Medium-Term Fiscal Policy Framework for Tanzania
Mika Saito and Daehaeng Kim
09/243: Top-Down Budgeting - An Instrument to Strengthen Budget Management
Ljungman, Gösta
09/242: Valuation of Unlisted Direct Investment Equity
Emmanuel Kumah , Jannick Damgaard and Thomas Elkjaer
09/241: The Role of Financial Variables in Predicting Economic Activity in the Euro Area
Raphael A. Espinoza , Fabio Fornari and Marco Lombardi
09/240: Treating Intangible Inputs as Investment Goods: the Impact on Canadian GDP
Nazim Belhocine
09/239: Sovereign Wealth Funds and Financial Stability-An Event Study Analysis
Tao Sun and Heiko Hesse
09/238: Monetary Policy Analysis and Forecasting in the World Economy: A Panel Unobserved Components Approach
Francis Vitek
09/237: Fiscal Deficits and Current Account Deficits
Michael Kumhof and Douglas Laxton
09/236: Inflation Targeting at 20: Achievements and Challenges
Scott Roger
09/235: Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment
Evridiki Tsounta
09/234: Hybrid Inflation Targeting Regimes
Jorge Restrepo , Carlos Garcia and Scott Roger
09/233: Excessive Lending, Leverage, and Risk-Taking in the Presence of Bailout Expectations
Georgiou, Andréas
09/232: Monetary Policy and the Lost Decade: Lessons from Japan
Daniel Leigh
09/231: Three Cycles: Housing, Credit, and Real Activity
Alain N. Kabundi , Deniz Igan , Marcelo Pinheiro , Nadal-De Simone, Francisco and Natalia T. Tamirisa
09/230: Global Market Conditions and Systemic Risk
Heiko Hesse and González-Hermosillo, Brenda
09/229: Macro-Hedging for Commodity Exporters
Damiano Sandri , Eduardo Borensztein and Olivier Jeanne
09/228: The Liquidity and Liquidity Distribution Effects in Emerging Markets: The Case of Jordan
Vandenbussche, Jérôme , Vandenbussche, Jérôme , Stanley Watt , Stanley Watt , Szabolcs Blazsek and Szabolcs Blazsek
09/227: Analyzing Fiscal Space Using the MAMS Model: An Application to Burkina Faso
Jan Gottschalk , Manh Vu Le , Hans Lofgren and Kofi Nouve
09/226: Unconventional Central Bank Measures for Emerging Economies
Etienne B. Yehoue , Kotaro Ishi and Mark R. Stone
09/225: Revisiting the Determinants of Productivity Growth: What's new?
Boileau Loko and Mame Astou Diouf
09/224: New Zealand Bank Vulnerabilities in International Perspective
Ray Brooks and Rodrigo Cubero
09/223: Australian Bank and Corporate Sector Vulnerabilities--An International Perspective
Patrizia Tumbarello and Takáts, Elöd
09/222: Euro Area Sovereign Risk During the Crisis
Silvia Sgherri and Edda Zoli
09/221: External Balance in Low Income Countries
Thierry Tressel , Lone Engbo Christiansen , Alessandro Prati and Luca Antonio Ricci
09/220: Oil Prices and Bank Profitability: Evidence from Major Oil-Exporting Countries in the Middle East and North Africa
Heiko Hesse and Tigran Poghosyan
09/219: The Uncertainty Channel of Contagion
Prakash Kannan and Köhler-Geib, Fritzi
09/218: Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debate on Decoupling and Spillovers
Kingsley . Obiora
09/217: Access to Market Financing for IDA-eligible Countries—the Role of External Debt and IMF-Supported Programs
Alun H. Thomas
09/216: Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa
Lee, Kyung-woo , Markus Haacker and Raju Jan SINGH
09/215: São Tomé and PrÃncipe: Domestic Tax System and Tax Revenue Potential
Nisreen H. Farhan
09/214: Constructing Forecast Confidence Bands During the Financial Crisis
Ondra Kamenik , Marianne Johnson , Kevin Clinton , Huigang Chen and Douglas Laxton
09/213: What Determines Bond Market Development in sub-Saharan Africa?
Olatundun Janet Adelegan and Radzewicz-Bak, Bozena
09/212: Cointegrated TFP Processes and International Business Cycles
Pau Rabanal , Vicente Tuesta and Rubio-Ramirez, Juan F.
09/211: Revised System for the Classification of Exchange Rate Arrangements
Harald Anderson , Romain Veyrune , Annamaria Kokenyne and Karl Friedrich Habermeier
09/210: Who Benefits from Capital Account Liberalization? Evidence from Firm-Level Credit Ratings Data
Martin Schindler , Patricio Valenzuela and Alessandro Prati
09/209: International Risk Sharing During the Globalization Era
Akito Matsumoto , Robert P. Flood and Nancy P. Marion
09/208: Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows
Martin Schindler , Mahir Binici and Michael Hutchison
09/207: Accounting Discretion of Banks During a Financial Crisis
Luc Laeven and Harry P. Huizinga
09/206: The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis
Heiko Hesse and Nathaniel Frank
09/205: Commodity Terms of Trade: The History of Booms and Busts
Irina Tytell and Nikola Spatafora
09/204: How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis
Jochen Andritzky , Andreas Jobst , Sylwia Barbara Nowak , Aït-Sahalia, Yacine and Natalia T. Tamirisa
09/203: The Drivers of Housing Cycles in Spain
Pau Rabanal and Aspachs-Bracons, Oriol
09/202: Benchmark Priors Revisited: On Adaptive Shrinkage and the Supermodel Effect in Bayesian Model Averaging
Stefan Zeugner and Martin Feldkircher
09/201: French Banks Amid the Global Financial Crisis
Yingbin Xiao
09/200: The Need for Special Resolution Regimes for Financial Institutions—The Case of theEuropean Union
Cihák, Martin and Erlend Nier
09/199: Modernizing Bank Regulation in Support of Financial Deepening: The Case of Uruguay
Mario Mansilla , Gustavo Adler and Torsten Wezel
09/198: The Real Effects of Financial Sector Risk
Alexander F. Tieman and Andrea M. Maechler
09/197: Frugality: Are We Fretting Too Much? Household Saving and Assets in the United States
Yasser Abdih and Evan Tanner
09/196: The Derivatives Market in South Africa: Lessons for sub-Saharan African Countries
Olatundun Janet Adelegan
09/195: Lebanon-Determinants of Commercial Bank Deposits in a Regional Financial Center
Harald Finger and Heiko Hesse
09/194: Political Risk Aversion
Laura Valderrama
09/193: Institutional Inertia
Laura Valderrama
09/192: The Gambia: Demand for Broad Money and Implications for Monetary Policy Conduct
Subramanian S. Sriram
09/191: Monetary Policy and the Central Bank in Jordan
Samar Maziad
09/190: Fiscal Sustainability in Remittance-Dependent Economies
Michael T. Gapen , Yasser Abdih , Amine Mati and Ralph Chami
09/189: What Drives China's Interbank Market?
Nathaniel John Porter and TengTeng Xu
09/188: Search in the Labor Market Under Imperfectly Insurable Income Risk
Mauro Roca
09/187: How Good Are Ex Ante Program Evaluation Techniques? The Case of School Enrollment in PROGRESA
Fabian Bornhorst
09/186: One Money, One Market - A Revised Benchmark
Theo S. Eicher and Christian Henn
09/185: Euro Area Monetary Policy in Uncharted Waters
Emil Stavrev , Cihák, Martin and Thomas Harjes
09/184: Establishing Conversion Values for New Currency Unions: Method and Application to the planned Gulf Cooperation Council (GCC) Currency Union
Bassem Kamar , Carlotti, Jean-Etienne and Russell C. Krueger
09/183: International Evidence on Recovery from Recessions
Ugo Panizza , Valerie Cerra and Sweta C. Saxena
09/182: Understanding the Growth of African Financial Markets
Charles Amo Yartey and Mihasonirina Andrianaivo
09/181: Putting the Parts Together: Trade, Vertical Linkages, and Business Cycle Comovement
Andrei A. Levchenko and Julian di Giovanni
09/180: Credit Growth in Sub-Saharan Africa - Sources, Risks, and Policy Responses
Plamen Iossifov and May Y. Khamis (Пламен Йосифов )
09/179: Setting up a Sovereign Wealth Fund: Some Policy and Operational Considerations
Yinqiu Lu , Udaibir S. Das , Christian B. Mulder and Amadou N. R. Sy
09/178: Incorporating Market Information into the Construction of the Fan Chart
Selim Elekdag and Prakash Kannan
09/177: Towards a Principal-Agent Based Typology of Risks in Public-Private Partnerships
de Palma, André , Guillaume Prunier and Luc Leruth
09/176: Tourism Specialization and Economic Development: Evidence from the UNESCO World Heritage List
Rabah Arezki , Reda Cherif and John Piotrowski
09/175: India’s Experience with Fiscal Rules: An Evaluation and The Way Forward
Alejandro Simone and Petia Topalova
09/174: Fiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries
Robert C. York and Zaijin Zhan
09/173: Counterparty Risk, Impact on Collateral Flows and Role for Central Counterparties
James Aitken and Manmohan Singh
09/172: Is China's Export-Oriented Growth Sustainable?
Kai Guo and N'Diaye, Papa M'B. P.
09/171: Interest Rate Liberalization in China
Nathaniel John Porter , Takáts, Elöd and Tarhan Feyzioglu
09/170: Does Good Financial Performance Mean Good Financial Intermediation in China?
Tarhan Feyzioglu
09/169: Employment Effects of Growth Rebalancing in China
Kai Guo and N'Diaye, Papa M'B. P.
09/168: The Challenge of Enforcement in Securities Markets: Mission Impossible?
Jennifer A. Elliott and Ana Carvajal
09/167: Measures of Underlying Inflation in Sri Lanka
Magnus Saxegaard and Souvik Gupta
09/166: Spillovers of the U.S. Subprime Financial Turmoil to Mainland China and Hong Kong SAR: Evidence from Stock Markets
Tao Sun and Xiaojing Zhang
09/165: An Assessment of External Price Competitiveness for Mozambique
Francis Vitek
09/164: The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis
Hui Tong and Wei, Shang-Jin
09/163: Panacea, Curse, or Nonevent? Unconventional Monetary Policy in the United Kingdom
Meier, André
09/162: Recent Advances in Credit Risk Modeling
Jose Giancarlo Gasha , Carlos . Medeiros , Marcos Souto , Christian Capuano , Andre Santos and Chan-Lau, Jorge A.
09/161: Country Experiences with the Introduction and Implementation of Inflation Targeting
Ötker, Inci and Charles Freedman
09/160: How Effective is Fiscal Policy Response in Systemic Banking Crises?
Mulas-Granados, Carlos , Emanuele Baldacci and Sanjeev Gupta
09/159: Macroeconomic Fluctuations in the Caribbean: the Role of Climatic and External Shocks
Sebastian Sosa and Paul Cashin
09/158: Fiscal Cycles in the Caribbean
Juliana Dutra Araujo
09/157: Revenue Mobilization in Sub-Saharan Africa: Challenges from Globalization
Mario Mansour and Michael Keen
09/156: A Framework for Financial Market Development
Ralph Chami , Sunil Sharma and Connel Fullenkamp