IMF Working Papers

From International Monetary Fund
International Monetary Fund, Washington, DC USA.
Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().

Access Statistics for this working paper series.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

2015/198: Delegated Portfolio Management, Benchmarking, and the Effects on Financial Markets

Deniz Igan and Marcelo Pinheiro

2015/197: Is There a Debt-threshold Effect on Output Growth?

Alexander Chudik, Kamiar Mohaddes, Mohammad Pesaran and Mehdi Raissi

2015/196: Aid and Growth at the Regional Level

Axel Dreher and Steffen Lohmann

2015/195: A New Look at the Determinants of Growth in Asian Countries

Manuk Ghazanchyan, Janet Stotsky and Qianqian Zhang

2015/194: Normalization of Global Financial Conditions: The Implications for Brazil

Troy Matheson

2015/193: Capital Inflows, Credit Growth, and Financial Systems

Deniz Igan and Zhibo Tan

2015/192: Innovation, Deregulation, and the Life Cycle of a Financial Service Industry

Fumiko Hayashi, Grace Li and Zhu Wang

2015/191: Comparing the Employment-Output Elasticities of Expatriates and Nationals in the Gulf Cooperation Council

Alberto Behar

2015/190: Systemic Risk Assessment in Low Income Countries: Balancing Financial Stability and Development

Daniela Marchettini and Rodolfo Maino

2015/189: On the Drivers of Inflation in Sub-Saharan Africa

Anh Nguyen, Jemma Dridi, Filiz Unsal and Oral Williams

2015/188: Trends in Fiscal Transparency: Evidence from a New Database of the Coverage of Fiscal Reporting

Rachel Wang, Timothy Irwin and Lewis Murara

2015/187: Exports in a Tariff-Free Environment: What Structural Reforms Matter? Evidence from the European Union Single Market

Jesmin Rahman, Ara Stepanyan, Jessie Yang and Li Zeng

2015/186: Portfolio Rebalancing in Japan: Constraints and Implications for Quantitative Easing

Serkan Arslanalp and Dennis Botman

2015/185: Sub-Saharan Employment Developments: The Important Role of Household Enterprises with an Application to Rwanda

Alun Thomas

2015/184: Integrated Ownership and Control in the GCC Corporate Sector

Andre Santos

2015/183: Production Offshoring and Investment by Japanese Firms

Joong Kang and Shi Piao

2015/182: Price Expectations and the U.S. Housing Boom

Pascal Towbin and Sebastian Weber

2015/181: Foreign Help Wanted: Easing Japan’s Labor Shortages

Giovanni Ganelli and Naoko Miake

2015/180: Filling the Gap: Infrastructure Investment in Brazil

Mercedes Garcia-Escribano, Carlos Góes and Izabela Karpowicz

2015/179: Collateral Damage: Dollar Strength and Emerging Markets’ Growth

Pablo Druck, Nicolas Magud and Rodrigo Mariscal

2015/178: Estimation of Drivers of Public Education Expenditure: Baumol’s Effect Revisited

Manabu Nose

2015/177: Does A Regional Trade Agreement Lessen or Exacerbate Growth Volatility? An Empirical Investigation

Kangni Kpodar and Patrick Imam

2015/176: Deflation and Public Finances: Evidence from the Historical Records

Nicolas End, Sampawende Tapsoba, G. Terrier and Renaud Duplay

2015/175: Now or Later? The Political Economy of Public Investment in Democracies

Sanjeev Gupta, Estelle Liu and Carlos Mulas-Granados

2015/174: Institutions and Growth: a GMM/IV Panel VAR Approach

Carlos Góes

2015/173: What Matters for Financial Development and Stability?

Raja Almarzoqi, Sami Ben Naceur and Akshay Kotak

2015/172: Fiscal Deficit and Public Debt in the Western Balkans: 15 Years of Economic Transition

Zsoka Koczan

2015/171: Transforming Non-Renewable Resource Economies (NREs)

Bill Battaile and Saurabh Mishra

2015/170: A Model for Monetary Policy Analysis in Uruguay

Rafael Portillo and Yulia Ustyugova

2015/169: Household Financial Access and Risk Sharing in Nigeria

Stacy Carlson, Era Dabla-Norris, Mika Saito and Yu Shi

2015/168: Does Public Sector Inefficiency Constrain Firm Productivity: Evidence from Italian Provinces

Raffaela Giordano, Sergi Lanau, Pietro Tommasino and Petia Topalova

2015/167: Default Premium

Luis Catão and Rui Mano

2015/166: From Systemic Banking Crises to Fiscal Costs: Risk Factors

David Amaglobeli, Nicolas End, Mariusz Jarmuzek and Geremia Palomba

2015/165: Systemic Risk, Aggregate Demand, and Commodity Prices

Javier Gómez-Pineda, Dominique Guillaume and Kadir Tanyeri

2015/164: Macroeconomic Challenges of Structural Transformation: Public Investment, Growth and Debt Sustainability in Sierra Leone

Lacina Balma and Mthuli Ncube

2015/163: Joining the Club? Procyclicality of Private Capital Inflows in Low Income Developing Countries

Juliana Araujo, Antonio David, Carlos Eduardo van Hombeeck and Chris Papageorgiou

2015/162: The German Labor Market Reforms and Post-Unemployment Earnings

Niklas Engbom, Enrica Detragiache and Faezeh Raei

2015/161: Price and Income Elasticity of Indian Exports—The Role of Supply-Side Bottlenecks

Mehdi Raissi and Volodymyr Tulin

2015/160: Drivers of Financial Integration – Implications for Asia

Nasha Ananchotikul, Shi Piao and Edda Zoli

2015/159: Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Olivier Blanchard, Gustavo Adler and Irineu de Carvalho Filho

2015/158: Should Korea Worry about a Permanently Weak Yen?

Jack Ree, Gee Hee Hong and Seoeun Choi

2015/157: The Impact of IMF-Supported Programs on FDI in Low-income Countries

Ali Al-Sadiq

2015/156: The Dog That Didn’t Bark: The Strange Case of Domestic Policy Cooperation in the “New Normal”

Tamim Bayoumi

2015/155: Emerging Market Heterogeneity: Insights from Cluster and Taxonomy Analysis

Zhongxia Zhang and Yuan Gao

2015/154: LTV and DTI Limits—Going Granular

Luis Jácome and Srobona Mitra

2015/153: Financial Factors: Implications for Output Gaps

Pau Rabanal and Marzie Taheri Sanjani

2015/152: The Quest for the Holy Grail: Efficient and Equitable Fiscal Consolidation in India

Chadi Abdallah, David Coady, Sanjeev Gupta and Emine Hanedar

2015/151: China’s Labor Market in the “New Normal”

Waikei Lam, Xiaoguang Liu and Alfred Schipke

2015/150: Banks in The Global Integrated Monetary and Fiscal Model

Michal Andrle, Michael Kumhof, Douglas Laxton and Dirk Muir

2015/149: Network Effects of International Shocks and Spillovers

Alexei Kireyev and Andrei Leonidov

2015/148: What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies

Diana Ayala Pena, Milan Nedeljkovic and Christian Saborowski

2015/147: Designing Legal Frameworks for Public Debt Management

Elsie Addo Awadzi

2015/146: Designing Effective Macroprudential Stress Tests: Progress So Far and the Way Forward

Dimitri Demekas

2015/145: How Does Post-Crisis Bank Capital Adequacy Affect Firm Investment?

Yangfan Sun and Hui Tong

2015/144: A New Methodology for Estimating the Output Gap in the United States

Ali Alichi

2015/143: The Macroeconomic Relevance of Credit Flows: An Exploration of U.S. Data

Alexander Herman, Deniz Igan and Juan Sole

2015/142: Systemic Risk: A New Trade-off for Monetary Policy?

Stefan Laséen, Andrea Pescatori and Jarkko Turunen

2015/141: Global Financial Spillovers to Emerging Market Sovereign Bond Markets

Christian Ebeke and Annette Kyobe

2015/140: Assessing Default Risks for Chinese Firms: A Lost Cause?

Daniel Law and Shaun Roache

2015/139: Does Easing Monetary Policy Increase Financial Instability?

Ambrogio Cesa-Bianchi and Alessandro Rebucci

2015/138: Estimation and out-of-sample Prediction of Sudden Stops: Do Regions of Emerging Markets Behave Differently from Each Other?

Fabio Comelli

2015/137: What Really Drives Public Debt: A Holistic Approach

Pablo Anaya Longaric and Alex Pienkowski

2015/136: The Journey to Inflation Targeting: Easier Said than Done The Case for Transitional Arrangements along the Road

Bernard Laurens, Kelly Eckhold, Darryl King, Nils Maehle, Abdul Naseer and Alain Durré

2015/135: Lower for Longer: Neutral Rates in the United States

Andrea Pescatori and Jarkko Turunen

2015/134: Avoiding Dark Corners: A Robust Monetary Policy Framework for the United States

Ali Alichi, Kevin Clinton, Charles Freedman, Ondrej Kamenik, Michel Juillard, Douglas Laxton, Jarkko Turunen and Hou Wang

2015/133: Global Food Prices and Domestic Inflation: Some Cross-Country Evidence

Davide Furceri, Prakash Loungani, John Simon and Susan Wachter

2015/132: Inflation-Forecast Targeting: Applying the Principle of Transparency

Kevin Clinton, Charles Freedman, Michel Juillard, Ondrej Kamenik, Douglas Laxton and Hou Wang

2015/131: The Leap of the Tiger: How Malaysia Can Escape the Middle-Income Trap

Reda Cherif and Fuad Hasanov

2015/130: Unveiling the Effects of Foreign Exchange Intervention: A Panel Approach

Gustavo Adler, Noëmie Lisack and Rui Mano

2015/129: Monetary Policy in India: Transmission to Bank Interest Rates

Sonali Das

2015/128: Gauging Housing Supply in Canada: A Stock Approach

Julien Reynaud

2015/127: Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More Than Fundamentals

Eugenio Cerutti, Stijn Claessens and Damien Puy

2015/126: Pension Reforms in Mauritius: Fair and Fast—Balancing Social Protection and Fiscal Sustainability

Mauricio Soto, Vimal Thakoor and Martin Petri

2015/125: Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific

Ezequiel Cabezon, Leni Hunter, Patrizia Tumbarello, Kazuaki Washimi and Yiqun Wu

2015/124: Strengthening Fiscal Frameworks and Improving the Spending Mix in Small States

Ezequiel Cabezon, Patrizia Tumbarello and Yiqun Wu

2015/123: Experiences with Macroprudential Policy—Five Case Studies

Salim Darbar and Xiaoyong Wu

2015/122: Poverty, Growth, and Inequality in Sub-Saharan Africa: Did the Walk Match the Talk under the PRSP Approach?

Daouda Sembene

2015/121: Crime and the Economy in Mexican States: Heterogeneous Panel Estimates (1993-2012)

Concha Verdugo Yepes, Peter Pedroni and Xingwei Hu

2015/120: An Overview of Islamic Finance

Mumtaz Hussain, Asghar Shahmoradi and Rima Turk Ariss

2015/119: Make in India: Which Exports Can Drive the Next Wave of Growth?

Rahul Anand, Kalpana Kochhar and Saurabh Mishra

2015/118: Base Erosion, Profit Shifting and Developing Countries

Ernesto Crivelli, Ruud de Mooij and Michael Keen

2015/117: Sub-National Government’s Risk Premia: Does Fiscal Performance Matter?

Sergio Sola and Geremia Palomba

2015/116: U.S. Total Factor Productivity Slowdown: Evidence from the U.S. States

Roberto Cardarelli and Lusine Lusinyan

2015/115: New Energy Sources for Jordan: Macroeconomic Impact and Policy Considerations

Andrea Gamba

2015/114: (Not) Dancing Together: Monetary Policy Stance and the Government Spending Multiplier

Vincent Belinga and Constant Lonkeng Ngouana

2015/113: China’s Growth: Can Goldilocks Outgrow Bears?

Wojciech Maliszewski and Longmei Zhang

2015/112: It’s Not All Fiscal: Effects of Income, Fiscal Policy, and Wealth on Private Consumption

Laura Jaramillo and Alexandre Chailloux

2015/111: A Network Analysis of Sectoral Accounts: Identifying Sectoral Interlinkages in G-4 Economies

Luiza Antoun de Almeida

2015/110: Assessing Fiscal Risks in Bangladesh

Leandro Medina

2015/109: Correcting “Beyond the Cycle": Accounting for Asset Prices in Structural Fiscal Balances

Estelle Liu, Todd Mattina and Tigran Poghosyan

2015/108: Saving in Latin America and the Caribbean: Performance and Policies

Francesco Grigoli, Alexander Herman and Klaus Schmidt-Hebbel

2015/107: Islamic Finance, Consumer Protection, and Financial Stability

Inutu Lukonga

2015/106: Issuance of Central Bank Securities: International Experiences and Guidelines

Simon Gray and Runchana Pongsaparn

2015/105: How Large Are Global Energy Subsidies?

David Coady, Ian Parry, Louis Sears and Baoping Shang

2015/104: Domestic and Foreign Mutual Funds in Mexico: Do They Behave Differently?

Jasmine Xiao

2015/103: High Liquidity Creation and Bank Failures: Do They Behave Differently?

Zuzana Fungáčová, Rima Turk Ariss and Laurent Weill

2015/102: Are African Households Heterogeneous Agents?: Stylized Facts on Patterns of Consumption, Employment, Income and Earnings for Macroeconomic Modelers

Louise Fox

2015/101: Energy Subsidies and Public Social Spending: Theory and Evidence

Christian Ebeke and Constant Lonkeng Ngouana

2015/100: Does Basel Compliance Matter for Bank Performance?

Rym Ayadi, Sami Ben Naceur, Barbara Casu and Barry Quinn

2015/099: How to Improve the Effectiveness of Monetary Policy in the West African Economic and Monetary Union

Alexei Kireyev