IMF Working Papers

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1991/054: Military Expenditure: International Comparison of Trends

Daniel Hewitt

1991/053: Military Expenditure: Econometric Testing of Economic and Political Influences

Daniel Hewitt

1991/052: Protection and the Own-Funds Window in Tanzania: An Analytical Framework and Estimates of the Effects of Trade Liberalization

Dean DeRosa

1991/051: Uncovered Interest Parity

Peter Isard

1991/050: Yugoslav Inflation and Money

Ashok Lahiri

1991/049: Efficient Arbitrage Under Financial Indexation: The Case of Chile

Enrique Mendoza

1991/048: The Demand for Money During High Inflation Episodes: Some Latin American Evidenceon the Cagan Model

Mark Taylor and Kate Phylaktis

1991/047: Commodity and Manufactures Prices in the Long Run

James Boughton

1991/046: Sri Lanka: Price Changes and the Poor

Anne Gulde

1991/045: The Demand for Money in Developing Countries: Assessing the Role of Financial innovation

Jose De Gregorio, Peter Wickham, Patricio Arrau and Carmen Reinhart

1991/044: Commodity Booms and Government Expenditure Responses

Sanjeev Gupta and Kenneth M. Miranda

1991/043: Fiscal Reform in European Economies in Transition

George Kopits

1991/042: Collapse of a Crawling Peg Regime in the Presence of a Government Budget Constraint

Miguel Savastano

1991/041: Collection Lags, Fiscal Revenue and Inflationary Financing: Empirical Evidence and Analysis

Nurun Choudhry

1991/040: Market-Based Systems of Monetary Control in Developing Countries: Operating Procedures and Related Issues

Chorng-Huey Wong

1991/039: Bangladesh: Economic Reform Measures and the Poor

Padma Gotur

1991/038: Economic Crisis in a Shortage Economy

Kent Osband

1991/037: Do Exchange Rates Work? Another View

Robert Mundell

1991/036: Proposals for Privatization in Eastern Europe

Eduardo Borensztein

1991/035: Output Fluctuations and Monetary Shocks: Evidence From Colombia

Vincent Reinhart and Carmen Reinhart

1991/034: Globalization of Financial Markets and Implications for Pacific Basin Developing Countries

David Goldsbrough and Ranjit Teja

1991/033: From Direct to Indirect Monetary Policy Instruments: The French Experience Reconsidered

Marc Quintyn

1991/032: Exchange Rate Appreciation As a Signal of a New Policy Stance

Georg Winckler

1991/031: A Noteon Dual Foreign Exchange Markets with official Rationing: Predetermined Versus Floating official Exchange Rate

José Saúl Lizondo

1991/030: Liberalization and Financial Crisis in Uruguay (1974-1987)

Alfredo Leone and Juan Pérez-Campanero

1991/029: Macroeconomic Implications of Real Exchange Rate Targeting in Developing Countries

Peter Montiel and Jonathan Ostry

1991/028: Macroeconomic Policies and Long-Term Growth: A Conceptual and Empirical Review

Delano Villanueva and Mohsin Khan

1991/027: Monetary Policy and the Price Behavior in Emerging Stock Markets

Peter Cornelius

1991/026: Price Pressure Gaps: An Application of P* Using Korean Data

Richard Haas and Robert Corker

1991/025: Real Exchange Rates and Competitiveness: A Clarification of Concepts, and Some Measurements for Europe

Leslie Lipschitz and Donogh McDonald

1991/024: Integration of Eastern Europe Into the World Trading System

Helen Junz

1991/023: Tax Reform in Economies in Transition: A Brief Introduction to the Main Issues

Vito Tanzi

1991/022: International Vat Harmonization: Economic Effects

Jacob Frenkel, Steven Symansky and Assaf Razin

1991/021: Estimating the Base of the Value-Added Tax (VAT) in Developing Countries: The Problem of Exemptions

George Mackenzie

1991/020: On the Information Content of Ldc Secondary Loan Market Prices

Mark Stone

1991/019: The Italian Lira in the Narrow Erm Band: The Challenge of Credibility

Lazaros Molho

1991/018: A General Equilibrium Model with Informal Financial Markets

International Monetary Fund

1991/017: From Centrally-Planned to Market Economies: The Road from CPE to PCPE

Jacob Frenkel and Guillermo Calvo

1991/016: What Have We Learned About Estimating the Demand for Money? a Multicountry Evaluation of Some New Approaches

George Tavlas and James Boughton

1991/015: An Empirical Exploration of Exchange Rate Target-Zones

Donald Mathieson, Robert Flood and Andrew Rose

1991/014: Poverty Alleviation and Social Safety Net Schemes for Economies in Transition

Gillian Paull

1991/013: On the Sequencing of Reforms in Eastern Europe

Hans Genberg

1991/012: Interest Rates in Mexico: The Role of Exchange Rate Expectations and International Creditworthiness

Hoe Ee Khor and Liliana Rojas-Suarez

1991/011: Budgetary Subsidies in Centrally Planned Economies in Transition

Robert Holzmann

1991/010: Speculative Attacks

Pablo Guidotti and Guillermo Calvo

1991/009: The Determinants and Efficiency of Local Authority Spending in England

James Gordon and Tamim Bayoumi

1991/008: Measuring the Role of Subnational Governments

Jonathan Levin

1991/007: On Interpreting the Random Walk Behavior of Nominal and Real Exchange Rates

Charles Adams and Bankim Chadha

1991/006: Interest Rates and Government Debt: Are the Linkages Global Rather Than National?

Mark Lutz and Vito Tanzi

1991/005: Indicators of Fiscal Sustainability

Jocelyn Horne

1991/004: Mobilization of Savings in Eastern European Countries: The Role of the State

Vito Tanzi

1991/003: Response of the Equilibrium Real Exchange Rate to Real Disturbances in Developing Countries

Mohsin Khan and Jonathan Ostry

1991/002: The Japanese Yen as an International Currency

George Tavlas and Yusuru Ozeki

1991/001: Welfare Costs of Inflation, Seigniorage, and Financial innovation

Jose De Gregorio

1990/123: Taxation and the Cost of Capital in Hungary and Poland: A Comparison with Selected European Countries

International Monetary Fund

1990/122: Export Processing Zone Groth and Development: Manturian Example

International Monetary Fund

1990/121: Financial Market Constraints and Private Investment in a Developing Country

Omotunde Johnson

1990/120: Financial Sector Reform and Central Banking in Centrally Planned Economies

International Monetary Fund

1990/119: Money Supply and Interest Rate Policy in a New-Keynesian Framework

Guillermo Calvo and Carlos Végh Gramont

1990/118: Long-Run Purchasing Power Parity and the Dollar-Sterling Exchange Rate in the 1920's

Mark Taylor

1990/117: Capital Mobility in Developing Countries: M386Some Empirical Tests

International Monetary Fund

1990/116: Time Varying Risk Premia in Futures Markets

Graciela Kaminsky and Manmohan Kumar

1990/115: Management of the Nominal Public Debt Theory and Applications

Pablo Guidotti and Guillermo Calvo

1990/114: Parallel Currency Markets in Developing Countries: Theory, Evidence, and Policy Implications

International Monetary Fund

1990/113: Output, Employment and Financial Sanctions in South Africa

Tamim Bayoumi

1990/112: Financial Market Volatility and the Implications for Market Regulation: A Survey

Louis Scott

1990/111: Real Interest Rate Targeting: An Example From Brazil

Eric Clifton

1990/110: Credibility and the Dynamics of Stabilization Policy: A Basic Framework

Guillermo Calvo and Carlos Végh Gramont

1990/109: The Macroeconomic Effects of Capital Controls and the Stabilization of the Balance of Trade

Enrique Mendoza

1990/108: Exchange Rate Bands with Point Process Fundamentals

W. Perraudin

1990/107: The Changing Structure of Japanese Trade Flows: The Changing Structure of Japanese Trade Flows

International Monetary Fund

1990/106: The Simplest Test of Target Zone Credibility: The Simplest Test of Target Zone Credibility

International Monetary Fund

1990/105: Analytical and Methodological Issues in the Measurement of Fiscal Deficits

International Monetary Fund

1990/104: European Policy Convergence and the EMS

International Monetary Fund

1990/103: Corporate Income Tax Harmonization and Capital Allocation: Corporate Income Tax Harmonization and Capital Allocation

International Monetary Fund

1990/102: Structural Models of the Dollar

Charles Adams and Bankim Chadha

1990/101: Why is Unemployment so High At Full Capacity? The Persistence of Unemployment, the Natural Rate, and Potential Output in the Federal Republic of Germany

Thomas Krueger and David Coe

1990/099: Investment in Housing in the United States: A Portfolio Approach: The Possible Effects of Changes in Tax Policy

Krister Andersson

1990/098: The Fiscal and Economic Effects of Federal Credit Assistance Programs

International Monetary Fund

1990/097: A Noteon Saving-Investment Correlations in the EMS

International Monetary Fund

1990/096: European Fiscal Harmonization and the French Economy

W. Perraudin and Thierry Pujol

1990/095: Financial innovation and Consumption in the United Kingdom

Tamim Bayoumi

1990/094: Tax Efficiency in an Open Economy

Thierry Pujol and W. Perraudin

1990/093: Industrial Relations and Macroeconomic Performance: An Application to Spain

International Monetary Fund

1990/092: Fiscal Policy During the Demise of Central Planning: The Transition to a Market Economy

Andrew Feltenstein

1990/091: Fiscal Policy, the Real Exchange Rate and Commodity Prices

Carmen Reinhart

1990/090: Alternative Dual Exchange Market Regimes: Some Steady State Comparisons

José Saúl Lizondo

1990/089: Tax Policy Options for a United Germany

International Monetary Fund

1990/088: Market Valuation of Illiquid Debt and Implications for Conflicts Among Creditors

Leonardo Bartolini and Avinash Dixit

1990/087: The Optimal Mix of Inflationary Finance and Commodity Taxation with Collection Lags

Avinash Dixit

1990/086: The Japanese Tax Reform: Efficiency Versus Equity

International Monetary Fund

1990/085: Economic Implications of German Unification for the Federal Republic and the Rest of the World

Paul Masson and Guy Meredith

1990/084: Exchange Restrictions and Devaluation Crises

Pierre-Richard Agénor

1990/083: Protection and Export Performance in Sub-Saharan Africa

Dean DeRosa

1990/082: Sustainability, Premia, and the Dollar

Steven Symansky and Bankim Chadha

1990/081: Banks in Distress: The Case of Bangladesh

International Monetary Fund

1990/080: Stability of Velocity in the Group of Seven Countries: A Kalman Filter Approach

Eduard Bomhoff

1990/079: Transitional Arrangements for Trade and Payments Among the CMEA Countries

International Monetary Fund

1990/078: Macroeconomic Policies and the Balance of Payments in Pakistan: 1972-1986

International Monetary Fund

1990/077: Debt Overhang, Debt Reduction and Investment: The Case of the Philippines

International Monetary Fund