Recent IMF Publications


March 2015
 

Title: Structural Transformation — How Does Thailand Compare?
Author/Editor: Vladimir Klyuev
Series: Working Paper No. 15/51
Date: March 4, 2015

 

Title: Malaysia: Selected Issues Paper
Series: Country Report No. 15/59
Date: March 3, 2015

 

Title: Malaysia: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Malaysia
Series: Country Report No. 15/58
Date: March 3, 2015

 

Title: South Africa: Financial Sector Assessment Program-Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulation-Technical Note
Series: Country Report No. 15/57
Date: March 3, 2015

 

Title: South Africa: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles-Technical Note
Series: Country Report No. 15/56
Date: March 3, 2015

 

Title: South Africa: Financial Sector Assessment Program-Detailed Assessment of Compliance on the Basel Core Principles for Effective Banking Supervision-Technical Note
Series: Country Report No. 15/55
Date: March 3, 2015

 

Title: South Africa: Financial Sector Assessment Program-Stress Testing the Financial System-Technical Note
Series: Country Report No. 15/54
Date: March 3, 2015

 

Title: South Africa: Financial Sector Assessment Program-Financial Safety Net, Bank Resolution, and Crisis Management Framework-Technical Note
Series: Country Report No. 15/53
Date: March 3, 2015

 

Title: South Africa: Financial Sector Assessment Program-Reforms in the OTC Derivatives Market-Technical Note
Series: Country Report No. 15/52
Date: March 3, 2015

 

Title: South Africa: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note
Series: Country Report No. 15/51
Date: March 3, 2015

 

Title: A Global Projection Model for Euro Area Large Economies
Author/Editor: Zoltan Jakab ; Pavel Lukyantsau ; Shengzu Wang
Series: Working Paper No. 15/50
Date: March 2, 2015
Subject(s): Economic forecasting | Germany | France | Italy | Spain | Euro Area | Spillovers | General equilibrium models

 

Title: Remittances and Macroeconomic Volatility in African Countries
Author/Editor: Ahmat Jidoud
Series: Working Paper No. 15/49
Date: March 2, 2015
Subject(s): Remittances | Africa | Business cycles | Private consumption | Labor supply | Economic stabilization | General equilibrium models

 
 
February 2015
 

Title: The Level of Productivity in Traded and Non-Traded Sectors for a Large Panel of Countries
Author/Editor: Rui Mano ; Marola Castillo
Series: Working Paper No. 15/48
Date: February 27, 2015
Subject(s): Productivity | Industrial sector | Purchasing power parity | Cross country analysis | Panel analysis | Price indexes

 

Title: Central and Commercial Bank Balance Sheet Risk Before, During, and After the Global Financial Crisis
Author/Editor: Joseph Crowley
Series: Working Paper No. 15/47
Date: February 27, 2015
Subject(s): Central banks | Commercial banks | Financial assets | Financial risk | Balance sheets | Global Financial Crisis 2008-2009

 

Title: Interconnectedness, Systemic Crises and Recessions
Author/Editor: Marco A Espinosa-Vega ; Steven Russell
Series: Working Paper No. 15/46
Date: February 27, 2015
Subject(s): Interconnectedness | Banks | Financial crises | Economic recession | Systemic risk assessment | Equilibrium. Econometric models

 

Title: Made in Mexico: Energy Reform and Manufacturing Growth
Author/Editor: Jorge Alvarez ; Fabian Valencia
Series: Working Paper No. 15/45
Date: February 27, 2015
Subject(s): Energy sector | Mexico | Manufacturing sector | Industrial production | Electricity | Energy prices | Fiscal reforms

 

Title: Is Banks’ Home Bias Good or Bad for Public Debt Sustainability?
Author/Editor: Tamon Asonuma ; Said Bakhache ; Heiko Hesse
Series: Working Paper No. 15/44
Date: February 27, 2015
Subject(s): Banking sector | Sovereign debt | Public debt | Fiscal policy | Debt sustainability | Developed countries | Developing countries

 

Title: Liberia: Request for Disbursement under the Rapid Credit Facility and Debt Relief under the Catastrophe Containment and Relief Trust-Staff Report; Press Release; and Statement by the Executive Director for Liberia
Series: Country Report No. 15/49
Date: February 27, 2015
Subject(s): Rapid Credit Facility | External shocks | Debt relief | Emergency assistance | Emergency financing mechanism | Fiscal policy | Monetary policy | Economic indicators | Letters of Intent | Debt sustainability analysis | Staff Reports | Press releases | Liberia

 

Title: Are Foreign Banks a 'Safe Haven'? Evidence from Past Banking Crises
Author/Editor: Gustavo Adler ; Eugenio Cerutti
Series: Working Paper No. 15/43
Date: February 26, 2015
Subject(s): Foreign banks | Argentina | Uruguay | Banking crisis | Bank deposits | Banking systems | Emerging markets | Cross country analysis

 

Title: Asia’s Quest for Inclusive Growth Revisited
Author/Editor: Chie Aoyagi ; Giovanni Ganelli
Series: Working Paper No. 15/42
Date: February 26, 2015
Subject(s): Inclusive growth | Asia | Income distribution | Poverty reduction | Monetary policy | Fiscal reforms | Cross country analysis

 

Title: Are Islamic Banks More Resilient during Financial Panics?
Author/Editor: Moazzam Farooq ; Sajjad Zaheer
Series: Working Paper No. 15/41
Date: February 26, 2015
Subject(s): Islamic banking | Pakistan | Commercial banks | Banking crisis | Bank deposits | Loans | Bank liquidity | Bank capitalization | Balance sheets

 

Title: Republic of Serbia: 2014 Article IV Consultation and Request for Stand-By Arrangement-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Serbia
Series: Country Report No. 15/50
Date: February 26, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Fiscal reforms | Monetary policy | Economic indicators | Letters of Intent | Debt sustainability analysis | Staff Reports | Press releases | Stand-by arrangement requests | Serbia

 

Title: Albania: Second and Third Reviews under the Extended Arrangement and Request for Waiver for the Nonobservance of Performance Criterion, Waiver of Applicability of Performance Criteria, and Rephasing of Future Disbursements-Staff Report; Press Release; and Statement by the Executive Director for Albania
Series: Country Report No. 15/48
Date: February 26, 2015
Subject(s): Extended arrangement reviews | Fiscal consolidation | Fiscal policy | Fiscal reforms | Energy sector | Monetary policy | Bank supervision | Economic indicators | Letters of Intent | Staff Reports | Press releases | Performance criteria waivers | Albania

 

Title: Malta: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Malta
Series: Country Report No. 15/46
Date: February 26, 2015
Subject(s): Article IV consultation reports | Economic growth | Global competitiveness | Fiscal reforms | Government expenditures | Public enterprises | Pension reforms | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Malta

 

Title: Lao People's Democratic Republic: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Lao People's Democratic Republic
Series: Country Report No. 15/45
Date: February 26, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Fiscal consolidation | Monetary policy | Bank supervision | Financial stability | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Lao P. D..R.

 

Title: The Sources of Business Cycles in a Low Income Country
Author/Editor: Romain Houssa ; Jolan Mohimont ; Christopher Otrok
Series: Working Paper No. 15/40
Date: February 25, 2015
Subject(s): Business cycles | Ghana | South Africa | External shocks | Commodity price shocks | Regional shocks | Low-income developing countries | Cross country analysis | Vector autoregression | Econometric models

 

Title: A Phillips Curve with Anchored Expectations and Short-Term Unemployment
Author/Editor: Laurence M. Ball ; Sandeep Mazumder
Series: Working Paper No. 15/39
Date: February 25, 2015
Subject(s): Inflation | United States | Unemployment | Deflation | Keynesian economics

 

Title: Financial Decisions and Investment Outcomes in Developing Countries: The Role of Institutions
Author/Editor: Rima Turk
Series: Working Paper No. 15/38
Date: February 25, 2015
Subject(s): Corporate finance | Corporate investment | Financial management legal framework | Financial institutions | Developing countries

 

Title: Value of WTO Trade Agreements in a New Keynesian Model
Author/Editor: Giovanni Ganelli ; Juha Tervala
Series: Working Paper No. 15/37
Date: February 25, 2015
Subject(s): World Trade Organization | International trade agreements | Terms of trade | Trade liberalization | Tariffs | Labor supply | Keynesian economics

 

Title: Gabon: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Gabon
Series: Country Report No. 15/47
Date: February 25, 2015
Subject(s): Article IV consultation reports | Economic growth | External shocks | Oil prices | Fiscal policy | Payments arrears | Fiscal reforms | Oil subsidies | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Gabon

 

Title: Uncertainty and Unemployment: The Effects of Aggregate and Sectoral Channels
Author/Editor: Sangyup Choi ; Prakash Loungani
Series: Working Paper No. 15/36
Date: February 23, 2015
Subject(s): Labor markets | United States | External shocks | Unemployment | Stock markets | Structural vector autoregression | Econometric models

 

Title: Private Sector Deleveraging and Growth Following Busts
Author/Editor: Sally Chen ; Minsuk Kim ; Marijn Otte ; Kevin Wiseman ; Aleksandra Zdzienicka
Series: Working Paper No. 15/35
Date: February 23, 2015
Subject(s): Private sector | Debt reduction | Economic growth | Developed countries | Emerging markets | Cross country analysis | Time series

 

Title: ASEAN Financial Integration
Author/Editor: Geert Almekinders ; Alex Mourmouras ; Jian-Ping Zhou ; Satoshi Fukuda
Series: Working Paper No. 15/34
Date: February 23, 2015
Subject(s): Economic integration | Southeast Asia | Association of Southeast Asian Nations | Economic growth | Trade integration | Trade liberalization | Capital account liberalization | Cross country analysis

 

Title: On the First-Round Effects of International Food Price Shocks: the Role of the Asset Market Structure
Author/Editor: Rafael Portillo ; Luis-Felipe Zanna
Series: Working Paper No. 15/33
Date: February 23, 2015
Subject(s): Food prices | Commodity price shocks | Inflation | Monetary policy | Developing countries | Econometric models

 

Title: Fair Play: : More Equal Laws Boost Female Labor Force Participation
Author/Editor: Christian Gonzales ; Sonali Jain-Chandra ; Kalpana Kochhar ; Monique Newiak
Series: Staff Discussion Notes No. 15/2
Date: February 23, 2015
Subject(s): Labor force participation | Women | Gender equality | Labor markets | Labor market reforms | Family economic aspects | Cross country analysis

 

Title: Morocco: First Review Under the Arrangement Under the Precautionary and Liquidity Line-Staff Report; Press Release; and Statement by the Executive Director for Morocco
Series: Country Report No. 15/44
Date: February 23, 2015
Subject(s): Precautionary and Liquidity Line | Fiscal policy | Budgetary reforms | Fiscal reforms | Monetary policy | Bank supervision | Economic indicators | Letters of Intent | Staff Reports | Press releases | Morocco

 

Title: Morocco: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Morocco
Series: Country Report No. 15/43
Date: February 23, 2015
Subject(s): Article IV consultation reports | Economic conditions | Economic growth | Unemployment | Fiscal policy | Fiscal reforms | Monetary policy | Economic indicators | Staff Reports | Press releases | Morocco

 

Title: Paraguay: Selected Issues Paper
Series: Country Report No. 15/38
Date: February 20, 2015
Subject(s): Fiscal policy | Spillovers | Banking sector | Bank credit | Economic models | Selected Issues Papers | Paraguay

 

Title: Paraguay: 2014 Article IV Consultation - Staff Report; and Press Release
Series: Country Report No. 15/37
Date: February 20, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Public enterprises | Fiscal reforms | Monetary policy | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Paraguay

 

Title: Investment in the Euro Area: Why Has It Been Weak?
Author/Editor: Bergljot Barkbu ; Pelin Berkmen ; Pavel Lukyantsau ; Sergejs Saksonovs ; Hanni Schoelermann
Series: Working Paper No. 15/32
Date: February 19, 2015
Subject(s): Investment | Euro Area | Cost of capital | Credit | Corporate debt | Econometric models | Cross country analysis

 

Title: Republic of Slovenia: Selected Issues Paper
Series: Country Report No. 15/42
Date: February 19, 2015
Subject(s): Fiscal reforms | Government expenditures | Pension reforms | Health care | Education | Corporate governance | Selected Issues Papers | Slovenia

 

Title: Republic of Slovenia: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Slovenia
Series: Country Report No. 15/41
Date: February 19, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Corporate sector | Fiscal reforms | Banking sector | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Slovenia

 

Title: Guinea: Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Financing Assurances Review, and Requests for an Augmentation of Access and Extension of the Current Arrangement-Staff Report; Press Release; and Statement by the Executive Director for Guinea
Series: Country Report No. 15/39
Date: February 17, 2015
Subject(s): Extended Credit Facility | External shocks | Budgets | Fiscal policy | Fiscal reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Guinea

 

Title: Can Islamic Banking Increase Financial Inclusion?
Author/Editor: Sami Ben Naceur ; Adolfo Barajas ; Alexander Massara
Series: Working Paper No. 15/31
Date: February 13, 2015
Subject(s): Islamic banking | Financial services | Commercial banks | Bank credit | Bank deposits | Household survey data | Cross country analysis

 

Title: Union of the Comoros: 2014 Article IV Consultation-Staff Report, Press Release and Statement by the Executive Director for the Union of the Comoros
Series: Country Report No. 15/34
Date: February 13, 2015
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Tax revenues | Fiscal reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Financial system stability assessment | Staff Reports | Press releases | Comoros

 

Title: Energy Subsidies in Latin America and the Caribbean: Stocktaking and Policy Challenges
Author/Editor: Gabriel Di Bella ; Lawrence Norton ; Joseph Ntamatungiro ; Sumiko Ogawa ; Issouf Samaké ; Marika Santoro
Series: Working Paper No. 15/30
Date: February 12, 2015
Subject(s): Energy sector | Latin America | Caribbean | Fiscal policy | Energy | Subsidies | Public enterprises | Private investments

 

Title: Expenditure Rules: Effective Tools for Sound Fiscal Policy?
Author/Editor: Till Cordes ; Tidiane Kinda ; Priscilla S. Muthoora ; Anke Weber
Series: Working Paper No. 15/29
Date: February 12, 2015
Subject(s): Expenditure effectiveness | Fiscal policy | Fiscal rules | Expenditure controls | Cross country analysis | Time series

 

Title: Islamic Republic of Mauritania: Selected Issues Paper
Series: Country Report No. 15/36
Date: February 12, 2015
Subject(s): Fiscal policy | Economic growth | Natural resources | Public investment | Labor markets | Economic models | Selected Issues Papers | Mauritania

 

Title: Islamic Republic of Mauritania: 2014 Article IV Consultation-Staff Report; Press Release and Statement by the Executive Director for the Islamic Republic of Mauritania
Series: Country Report No. 15/35
Date: February 12, 2015
Subject(s): Article IV consultation reports | Economic growth | Mining sector | Fiscal policy | Budgets | Fiscal reforms | Monetary policy | Exchange restrictions | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Mauritania

 

Title: Employment Impacts of Upstream Oil and Gas Investment in the United States
Author/Editor: Mark Agerton ; Peter Hartley ; Kenneth Medlock III ; Ted Temzelides
Series: Working Paper No. 15/28
Date: February 11, 2015
Subject(s): Oil production | United States | Natural gas | Commodity boom | Job creation | Employment | Econometric models | Time series

 

Title: Asset Bubbles: Re-thinking Policy for the Age of Asset Management
Author/Editor: Bradley Jones
Series: Working Paper No. 15/27
Date: February 11, 2015
Subject(s): Asset bubbles | Monetary policy | Macroprudential Policy | Asset prices | Asset management

 

Title: Drivers of Peru's Equilibrium Real Exchange Rate: Is the Nuevo Sol a Commodity Currency?
Author/Editor: Melesse Tashu
Series: Working Paper No. 15/26
Date: February 11, 2015
Subject(s): Real exchange rates | Peru | Exports | Commodity prices | Real effective exchange rates | Econometric models

 

Title: Harnessing Resource Wealth for Inclusive Growth in Fragile States
Author/Editor: Corinne Delechat ; Will Clark ; Pranav Gupta ; Malangu Kabedi-Mbuyi ; Mesmin Koulet-Vickot ; Carla Macario ; Toomas Orav ; Manuel Rosales ; Rene Tapsoba ; Dmitry Zhdankin ; Susan Yang
Series: Working Paper No. 15/25
Date: February 11, 2015
Subject(s): Natural resources | Guinea | Liberia | Sierra Leone | Inclusive growth | Social safety nets | Public investment | Fiscal policy | General equilibrium models

 

Title: Arab Republic of Egypt: 2014 Article IV Consultation-Staff Report; Press Release and Statement by the Executive Director for the Arab Republic of Egypt
Series: Country Report No. 15/33
Date: February 11, 2015
Subject(s): Article IV consultation reports | Current account deficits | Fiscal consolidation | Fiscal reforms | Oil subsidies | Energy sector | Banking sector | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Egypt

 

Title: A Strategy for Developing a Market for Nonperforming Loans in Italy
Author/Editor: Nadège Jassaud ; Kenneth Kang
Series: Working Paper No. 15/24
Date: February 6, 2015
Subject(s): Non-performing loans | Italy | Debt market development | Banks | Debt restructuring

 

Title: Mozambique: Fiscal Transparency Evaluation
Series: Country Report No. 15/32
Date: February 5, 2015
Subject(s): Fiscal transparency | Fiscal risk | Budgets | Budgeting | Economic forecasting | Reports on the Observance of Standards and Codes | Mozambique

 

Title: Kenya: Request for Stand-by Arrangement and an Arrangement Under the Standby Credit Facility - Staff Report; Press Release; Statement by the Executive Director for Kenya
Series: Country Report No. 15/31
Date: February 5, 2015
Subject(s): Standby Credit Facility | Fiscal policy | Financial management | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases | Stand-by arrangement requests | Kenya

 

Title: Making Senegal a Hub for West Africa : Reforming the State, Building to the Future
Series: African Departmental Paper No. 15/1
Date: February 5, 2015
Subject(s): Economic conditions | Senegal | Economic growth | Fiscal policy | Export performance | Foreign direct investment | Policy Support Instrument | Electric power | Social safety nets

 

Title: Costa Rica: Selected Issues and Analytical Notes
Series: Country Report No. 15/30
Date: February 4, 2015
Subject(s): Financial sector | Central banks | Monetary policy | Flexible exchange rate policy | Spillovers | Economic growth | Labor markets | Electric power | Selected Issues Papers | Costa Rica

 

Title: Costa Rica: 2014 Article IV Consultation - Staff Report; Press Release; Staff Statement; and Statement by the Executive Director for Costa Rica
Series: Country Report No. 15/29
Date: February 4, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Fiscal reforms | Monetary policy | Bank supervision | Economic indicators | Financial Sector Assessment Program | Debt sustainability analysis | Staff Reports | Press releases | Costa Rica

 

Title: Angola: Technical Assistant Report - Angola - Fuel Price Subsidy Reform the Way Forward
Series: Country Report No. 15/28
Date: February 4, 2015
Subject(s): Oil subsidies | Oil prices | Gasoline prices | Energy sector | Fiscal reforms | Technical Assistance | Angola

 

Title: Antigua and Barbuda: Public Expenditure and Financial Accountability (PEFA) Performance Assessment
Series: Country Report No. 15/27
Date: February 4, 2015
Subject(s): Government expenditures | Budgets | Fiscal reforms | Fiscal transparency | Technical Assistance | Antigua and Barbuda

 

Title: Montenegro: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Montenegro
Series: Country Report No. 15/26
Date: February 4, 2015
Subject(s): Article IV consultation reports | Economic growth | Public debt | Government expenditures | Fiscal policy | Fiscal reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Montenegro

 
 
January 2015
 

Title: Republic of Madagascar: Selected Issues Paper
Series: Country Report No. 15/25
Date: January 30, 2015
Subject(s): Financial sector | Exchange rates | Exchange rate assessments | Tax revenues | Revenue mobilization | Tax system reviews | Poverty | Selected Issues Papers | Madagascar

 

Title: Republic of Madagascar: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Madagascar
Series: Country Report No. 15/24
Date: January 30, 2015
Subject(s): Article IV consultation reports | Economic conditions | Economic growth | Fiscal policy | Fiscal reforms | Monetary policy | Central bank autonomy | Economic indicators | Staff Reports | Press releases | Madagascar

 

Title: Canada: Selected Issues
Series: Country Report No. 15/23
Date: January 30, 2015
Subject(s): Fiscal policy | Exports | Export growth | Export performance | Interest rates | Monetary policy | Selected Issues Papers | Canada

 

Title: Canada: 2014 Article IV Consultation-Staff Report; Staff Statement; and Press Release
Series: Country Report No. 15/22
Date: January 30, 2015
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Fiscal consolidation | Banking sector | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Canada

 

Title: Portugal: First Post-Program Monitoring Discussions-Staff Report; Press Release; and Statement by the Executive Director
Series: Country Report No. 15/21
Date: January 30, 2015
Subject(s): Post-program monitoring | Fiscal policy | Domestic debt | Corporate sector | Fiscal reforms | Public enterprises | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Portugal

 

Title: Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies
Author/Editor: Ambrogio Cesa-Bianchi ; Luis Felipe Cespedes ; Alessandro Rebucci
Series: Working Paper No. 15/23
Date: January 29, 2015
Subject(s): Housing prices | Business cycles | Capital flows | International liquidity | Emerging markets | Developed countries

 

Title: Ireland: Ex Post Evaluation of Exceptional Access Under the 2010 Extended Arrangement
Series: Country Report No. 15/20
Date: January 29, 2015
Subject(s): Ex post assessments | Economic growth | Banking sector | Credit demand | Banking crisis | Bank resolution | Bank restructuring | Fiscal policy | Extended Fund Facility | Exceptional use of Fund resources | Ireland

 

Title: Ireland: Second Post-Program Monitoring Discussions; Staff Report; and Press Release
Series: Country Report No. 15/19
Date: January 29, 2015
Subject(s): Post-program monitoring | Economic recovery | Labor markets | Fiscal policy | Banks | Bank supervision | Economic indicators | Staff Reports | Press releases | Ireland

 

Title: Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality: A Structural Framework for Policy
Author/Editor: Era Dabla-Norris ; Yan Ji ; Robert Townsend ; D. Filiz Unsal
Series: Working Paper No. 15/22
Date: January 27, 2015
Subject(s): Financial services | Income inequality | Gross domestic product | Income distribution | Low-income developing countries | Emerging markets | General equilibrium models

 

Title: Central Counterparties: Addressing their Too Important to Fail Nature
Author/Editor: Froukelien Wendt
Series: Working Paper No. 15/21
Date: January 27, 2015
Subject(s): Systemically important financial institutions | Financial institutions | Too-important-too-fail | Financial markets | Interconnectedness | Financial systems | International financial stability

 

Title: Former Yugoslav Republic of Macedonia: Staff Report for the Fourth Review Under the Post Program Monitoring Discussions; and Press Release
Series: Country Report No. 15/18
Date: January 27, 2015
Subject(s): Post-program monitoring | Fiscal policy | Public sector | Debt management | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | former Yugoslav Republic of Macedonia (FYR Macedonia)

 

Title: A World Trade Leading Index (WTLI)
Author/Editor: Karim Barhoumi ; Laurent Ferrara
Series: Working Paper No. 15/20
Date: January 26, 2015
Subject(s): International trade | Cyclical indicators | Indicators of economic activity | Data analysis

 

Title: IMF Lending and Banking Crises
Author/Editor: Luca Papi ; Andrea Presbitero ; Alberto Zazzaro
Series: Working Paper No. 15/19
Date: January 26, 2015
Subject(s): IMF Lending | Banking crisis | Intervention | Crisis prevention | Conditionality | Developing countries | Cross country analysis

 

Title: Securitization: The Road Ahead
Author/Editor: Miguel A. Segoviano Basurto ; Bradley Jones ; Peter Lindner ; Johannes Blankenheim
Series: Staff Discussion Notes No. 15/1
Date: January 26, 2015
Subject(s): Securities | Mortgages | Financial intermediation | Credit ratings | Transparency

 

Title: The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies
Author/Editor: Sohrab Rafiq
Series: Working Paper No. 15/18
Date: January 23, 2015
Subject(s): Monetary policy | Spillovers | United States | Asia | India | Developing countries | Econometric models

 

Title: Fiscal Policy Implications for Labor Market Outcomes in Middle-Income Countries
Author/Editor: Ara Stepanyan ; Lamin Leigh
Series: Working Paper No. 15/17
Date: January 23, 2015
Subject(s): Fiscal policy | Labor markets | Unemployment | Public employment | Private sector | Developing countries | Econometric models

 

Title: Learning, Monetary Policy and Asset Prices
Author/Editor: Marco Airaudo ; Salvatore Nisticò ; Luis-Felipe Zanna
Series: Working Paper No. 15/16
Date: January 23, 2015
Subject(s): Monetary policy | Stock prices | Interest rate policy | Household consumption | General equilibrium models

 

Title: Does Supply or Demand Drive the Credit Cycle? Evidence from Central, Eastern, and Southeastern Europe
Author/Editor: Greetje Everaert ; Natasha Xingyuan Che ; Nan Geng ; Bertrand Gruss ; Gregorio Impavido ; Yinqiu Lu ; Christian Saborowski ; Jérôme Vandenbussche ; Li Zeng
Series: Working Paper No. 15/15
Date: January 23, 2015
Subject(s): Credit booms | Montenegro | Lithuania | Latvia | Poland | Romania | Eastern Europe | Credit demand | Supply and demand | Panel analysis | Cross country analysis

 

Title: Output Gap Uncertainty and Real-Time Monetary Policy
Author/Editor: Francesco Grigoli ; Alexander Herman ; Andrew Swiston ; Gabriel Di Bella
Series: Working Paper No. 15/14
Date: January 23, 2015
Subject(s): Economic growth | Latin America | Monetary policy | Inflation targeting | Business cycles | Cross country analysis | Time series

 

Title: Fiscal Transparency and the Performance of Government Financial Assets
Author/Editor: Mike Seiferling ; Shamsuddin Tareq
Series: Working Paper No. 15/9
Date: January 22, 2015
Subject(s): Fiscal transparency | Financial assets | Government finance statistics

 

Title: Governments’ Payment Discipline: The Macroeconomic Impact of Public Payment Delays and Arrears
Author/Editor: Cristina Checherita-Westphal ; Alexander Klemm ; Paul Viefers
Series: Working Paper No. 15/13
Date: January 22, 2015
Subject(s): Payments arrears | Government expenditures | European Union | Private sector | Liquidity | Regression analysis

 

Title: Revisiting the Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries
Author/Editor: Nkunde Mwase ; Francis Y. Kumah
Series: Working Paper No. 15/12
Date: January 22, 2015
Subject(s): Dollarization | Low-income developing countries | Global Financial Crisis 2008-2009 | Exchange rate appreciation | Sovereign risk | Econometric models

 

Title: Credit Booms and Macroeconomic Dynamics: Stylized Facts and Lessons for Low-Income Countries
Author/Editor: Marco Arena ; Serpil Bouza ; Era Dabla-Norris ; Kerstin Gerling ; Lamin Njie
Series: Working Paper No. 15/11
Date: January 22, 2015
Subject(s): Credit booms | Low-income developing countries | Banking crisis | Bank supervision

 

Title: Corporate Financing Trends and Balance Sheet Risks in Latin America
Author/Editor: Fabiano Rodrigues Bastos ; Herman Kamil ; Bennett Sutton
Series: Working Paper No. 15/10
Date: January 22, 2015
Subject(s): Corporate finance | Latin America | Corporate debt | Bonds | International capital markets | Bond issues | Financial risk | Balance sheets

 

Title: A Volatility and Persistence-Based Core Inflation
Author/Editor: Tito Nícias Teixeira da Silva Filho ; Francisco Marcos Rodrigues Figueiredo
Series: Working Paper No. 15/8
Date: January 21, 2015
Subject(s): Inflation persistence | Oil prices | Commodity price fluctuations | Consumer price indexes | Brazil | Inflation measurement | Econometric models

 

Title: The Liquidation of Government Debt
Author/Editor: Carmen Reinhart ; M. Belen Sbrancia
Series: Working Paper No. 15/7
Date: January 21, 2015
Subject(s): Public debt | Real interest rates | Negative interest rates | Interest rate ceilings | Debt reduction | Developed countries

 

Title: The Global Trade Slowdown: Cyclical or Structural?
Author/Editor: Cristina Constantinescu ; Aaditya Mattoo ; Michele Ruta
Series: Working Paper No. 15/6
Date: January 21, 2015
Subject(s): International trade | Income | Gross domestic product | Demand

 

Title: Youth Unemployment in Advanced Europe: Okun’s Law and Beyond
Author/Editor: Angana Banerji ; Hannah Huidan Lin ; Sergejs Saksonovs
Series: Working Paper No. 15/5
Date: January 21, 2015
Subject(s): Unemployment | Europe | Euro Area | Labor market characteristics | Labor market institutions | Migrations | Business cycles | Developed countries

 

Title: Georgia: First Review Under the Stand-By Arrangement and Request for Modification of a Performance Criterion-Staff Report; and Press Release
Series: Country Report No. 15/17
Date: January 20, 2015
Subject(s): Stand-by arrangement reviews | Fiscal policy | Budget deficits | Budgets | Monetary policy | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases | Georgia

 

Title: Republic of Poland: Arrangement Under the Flexible Credit Line and Cancellation of the Current Arrangement-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Poland
Series: Country Report No. 15/16
Date: January 20, 2015
Subject(s): Flexible Credit Line | Banking sector | Bank supervision | Trade integration | Economic integration | Economic indicators | Staff Reports | Press releases | Extended arrangement cancellations | Poland

 

Title: IMF Response to the Financial and Economic Crisis
Series: Independent Evaluation Office Reports
Date: January 15, 2015

 

Title: Uncertainty and the Employment Dynamics of Small and Large Businesses
Author/Editor: Vivek Ghosal ; Yang Ye
Series: Working Paper No. 15/4
Date: January 14, 2015
Subject(s): Employment | Business enterprises | Entrepreneurship | Forecasting models | Regression analysis

 

Title: Identifying Binding Constraints to Growth: Does Firm Size Matter?
Author/Editor: Mauricio Vargas
Series: Working Paper No. 15/3
Date: January 14, 2015
Subject(s): Economic growth | Business enterprises | Bolivia | Econometric models

 

Title: Senegal: 2014 Article IV Consultation and Eighth Review Under the Policy Support Instrument-Staff Report; Press Release; and Statement by the Executive Director for Senegal
Series: Country Report No. 15/2
Date: January 14, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Government expenditures | Fiscal reforms | Financial management | Letters of Intent | Policy Support Instrument | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Senegal

 

Title: Senegal: Selected Issues Paper
Series: Country Report No. 15/15
Date: January 14, 2015
Subject(s): Economic growth | Exports | Export performance | Global competitiveness | Fiscal policy | Social safety nets | Electric power | Policy Support Instrument | Selected Issues Papers | Senegal

 

Title: United Republic of Tanzania: First Review Under the Policy Support Instrument-Staff Report; Press Release; and Statement by the Executive Director for the United Republic of Tanzania
Series: Country Report No. 15/14
Date: January 14, 2015
Subject(s): Policy Support Instrument | Fiscal policy | Domestic payments arrears | Debt management | Fiscal reforms | Pension reforms | Monetary policy | Economic indicators | Staff Reports | Letters of Intent | Press releases | Tanzania

 

Title: Increasing Productivity Growth in Middle Income Countries
Author/Editor: Aidar Abdychev ; La-Bhus Fah Jirasavetakul ; Andrew W Jonelis ; Lamin Leigh ; Ashwin Moheeput ; Friska Parulian ; Ara Stepanyan ; Albert Touna Mama
Series: Working Paper No. 15/2
Date: January 13, 2015
Subject(s): Total factor productivity | Sub-Saharan Africa | Economic growth | Fiscal reforms | Education | Labor markets | Cross country analysis

 

Title: El Salvador: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Authorities of El Salvador
Series: Country Report No. 15/13
Date: January 12, 2015
Subject(s): Article IV consultation reports | Economic conditions | Fiscal policy | Fiscal consolidation | Public debt | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | El Salvador

 

Title: El Salvador: Selected Issues Paper
Series: Country Report No. 15/11
Date: January 12, 2015
Subject(s): Economic growth | Central America | Exports | Trade integration | Human capital | Education | Selected Issues Papers | El Salvador

 

Title: Republic of Korea: Financial Sector Assessment Program-Stress Testing And Financial Stability Analysis-Technical Note
Series: Country Report No. 15/6
Date: January 9, 2015
Subject(s): Financial Sector Assessment Program | Banking sector | Liquidity | Stress testing | Financial stability | Bank soundness | Korea, Republic of

 

Title: Republic of Korea: Financial Sector Assessment Program-Crisis Preparedness and Crisis Management Framework-Technical Note
Series: Country Report No. 15/5
Date: January 9, 2015
Subject(s): Financial Sector Assessment Program | Financial sector | Financial risk | Crisis prevention | Bank supervision | Bank resolution | Financial safety nets | Deposit insurance | Risk management | Korea, Republic of

 

Title: Republic of Mozambique: Third Review Under the Policy Support Instrument-Staff Report and Press Release
Series: Country Report No. 15/12
Date: January 9, 2015
Subject(s): Policy Support Instrument | Economic conditions | Fiscal policy | Fiscal reforms | Monetary policy | Economic indicators | Staff Reports | Letters of Intent | Press releases | Mozambique

 

Title: Georgia: Financial Sector Assessment Program-Macroprudential Policy Framework-Technical Note
Series: Country Report No. 15/9
Date: January 8, 2015
Subject(s): Financial Sector Assessment Program | Macroprudential Policy | Monetary policy | Banking sector | Georgia

 

Title: Georgia: Financial Sector Assessment Program-Safety Nets, Bank Resolution, and Crisis Preparedness and Management Arrangements -Technical Note
Series: Country Report No. 15/8
Date: January 8, 2015
Subject(s): Financial Sector Assessment Program | Banking sector | Bank resolution | Liquidity | Commercial banks | Deposit insurance | Financial safety nets | Georgia

 

Title: Georgia: Financial Sector Assessment Program-Stress Testing the Banking Sector-Technical Note
Series: Country Report No. 15/7
Date: January 8, 2015
Subject(s): Financial Sector Assessment Program | Banking sector | Liquidity | Credit risk | Stress testing | Economic models | Statistical annexes | Georgia

 

Title: Georgia: Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision-Technical Note
Series: Country Report No. 15/10
Date: January 8, 2015
Subject(s): Financial Sector Assessment Program | Banking sector | Bank supervision | Reports on the Observance of Standards and Codes | Georgia

 

Title: IMF Multi-Country Report: Housing Recoveries: Cluster Report on Denmark, Ireland, Kingdom of the Netherlands—the Netherlands, and Spain
Series: Country Report No. 15/1
Date: January 7, 2015
Subject(s): Housing prices | Business cycles | Private sector | Debt | Debt restructuring | Tax reforms | Cross country analysis | Denmark | Ireland | Netherlands | Spain

 

Title: Shedding Light on Shadow Banking
Author/Editor: Artak Harutyunyan ; Alexander Massara ; Giovanni Ugazio ; Goran Amidzic ; Richard Walton
Series: Working Paper No. 15/1
Date: January 5, 2015
Subject(s): Shadow banking | Banks | Nonbank financial sector | Liabilities | Banking systems | Financial intermediation

 

Title: Haiti: Ex Post Assessment of Longer-Term Engagement
Series: Country Report No. 15/4
Date: January 5, 2015
Subject(s): Economic growth | Ex post assessments | Longer-term program engagement | Poverty Reduction and Growth Facility | Extended Credit Facility | Fiscal policy | Fiscal reforms | Monetary policy | Economic indicators | Haiti

 

Title: Haiti: Eighth Review Under the Extended Credit Facility and Request for Waiver of Nonobservance of Performance Criterion-Staff Report; Press Release; and Statement by the Executive Director for Haiti
Series: Country Report No. 15/3
Date: January 5, 2015
Subject(s): Extended Credit Facility | Fiscal policy | Fiscal consolidation | Fiscal reforms | Financial management | Monetary policy | Commercial banks | Economic indicators | Staff Reports | Letters of Intent | Press releases | Performance criteria waivers | Haiti

 
 
December 2014
 

Title: Sudan: 2014 Article IV Consultation and Second Review Under Staff-Monitored Program-Staff Report; Press Release; and Statement by the Executive Director for Sudan
Series: Country Report No. 14/364
Date: December 30, 2014
Subject(s): Article IV consultation reports | Fiscal consolidation | Monetary policy | Exchange restrictions | Multiple currency practices | Economic indicators | Staff-monitored programs | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases | Sudan

 

Title: Grenada: First Review Under the Extended Credit Facility Arrangement and Financing Assurances Review-Staff Report; Press Release
Series: Country Report No. 14/363
Date: December 30, 2014
Subject(s): Extended Credit Facility | Fiscal policy | Debt restructuring | Fiscal reforms | Financial management | Nonbank financial sector | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases | Grenada

 

Title: Iceland: Technical Assistance Report - IPSAS in Iceland - Towards Enhanced Fiscal Transparency
Series: Country Report No. 14/353
Date: December 30, 2014
Subject(s): Fiscal transparency | Government accounting | Reports on the Observance of Standards and Codes | Technical Assistance | Iceland

 

Title: Global Financial Transmission into Sub-Saharan Africa – A Global Vector Autoregression Analysis
Author/Editor: Jorge Iván Canales Kriljenko ; Mehdi Hosseinkouchack ; Alexis Meyer-Cirkel
Series: Working Paper No. 14/241
Date: December 29, 2014
Subject(s): Spillovers | Sub-Saharan Africa | External shocks | Economic growth | Cross country analysis | Vector autoregression | Econometric models

 

Title: Tunisia: Fifth Review Under the Stand-By Arrangement, Request for Modification of Performance Criteria, and Rephasing of Access-Staff Report; Press Release; and Statement by the Executive Director for Tunisia
Series: Country Report No. 14/362
Date: December 29, 2014
Subject(s): Stand-by arrangement reviews | Fiscal consolidation | Fiscal reforms | Monetary policy | Bank restructuring | Economic indicators | Staff Reports | Press releases | Phasing of purchases | Performance criteria modifications | Tunisia

 

Title: Spillovers from United States Monetary Policy on Emerging Markets: Different This Time?
Author/Editor: Jiaqian Chen ; Tommaso Mancini Griffoli ; Ratna Sahay
Series: Working Paper No. 14/240
Date: December 24, 2014
Subject(s): Monetary policy | Spillovers | United States | Emerging markets | Capital flows | Regression analysis

 

Title: Market Signals and the Cost of Credit Risk Protection: An Analysis of CDS Settlement Auctions
Author/Editor: L. Zanforlin ; Nobuyuki Kanazawa
Series: Working Paper No. 14/239
Date: December 24, 2014
Subject(s): Credit default swap | Financial markets | Credit risk | Bonds | Auctions

 

Title: Financial Frictions in Data: Evidence and Impact
Author/Editor: Marzie Taheri Sanjani
Series: Working Paper No. 14/238
Date: December 24, 2014
Subject(s): Business cycles | Financial markets | Monetary policy | Monetary transmission mechanism | Shock identification | Econometric models

 

Title: Centrality-based Capital Allocations
Author/Editor: Adrian Alter ; Ben Craig ; Peter Raupach
Series: Working Paper No. 14/237
Date: December 24, 2014
Subject(s): Banking systems | Interconnectedness | Capital requirements | Credit risk | Systemic risk | Financial contagion | Econometric models

 

Title: Honduras: Request for a Stand-by Arrangement and an Arrangement Under the Standby Credit Facility - Staff Report; Press Release
Series: Country Report No. 14/361
Date: December 24, 2014
Subject(s): Stand-by arrangement requests | Fiscal policy | Fiscal consolidation | Fiscal reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Standby Credit Facility | Press releases | Honduras

 

Title: Economic Diversification in the GCC: Past, Present, and Future
Author/Editor: Tim Callen ; Reda Cherif ; Fuad Hasanov ; Amgad Hegazy ; Padamja Khandelwal
Series: Staff Discussion Notes No. 14/12
Date: December 23, 2014
Subject(s): Export diversification | Cooperation Council for the Arab States of the Gulf | Oil revenues | Nonoil sector | Production incentives | Private sector | Wages and employment | Economic growth | Cross country analysis

 

Title: St. Vincent and the Grenadines: Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument - Staff Report; Press Release
Series: Country Report No. 14/360
Date: December 23, 2014
Subject(s): Rapid Credit Facility | External shocks | Economic growth | Budget deficits | Fiscal policy | Fiscal reforms | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Rapid Financing Instrument | Press releases | St. Vincent and the Grenadines

 

Title: Jamaica: Sixth Review Under the Extended Fund Facility and Request for Modification of Performance Criteria - Staff Report; Press Release; and Statement by the Executive Director for Jamaica
Series: Country Report No. 14/359
Date: December 23, 2014
Subject(s): Extended Fund Facility | Economic growth | Fiscal policy | Budgets | Fiscal reforms | Financial sector | Monetary policy | Economic indicators | Staff Reports | Letters of Intent | Press releases | Jamaica

 

Title: A Guide to IMF Stress Testing: Methods and Models
Author/Editor: Li L. Ong
Date: December 23, 2014

 

Title: The Size Distribution of Manufacturing Plants and Development
Author/Editor: Siddharth Kothari
Series: Working Paper No. 14/236
Date: December 22, 2014
Subject(s): Manufacturing sector | India | Demand | Manufactured goods | Household consumption | Industrial efficiency

 

Title: A Simple Macroprudential Liquidity Buffer
Author/Editor: Daniel C. Hardy ; Philipp Hochreiter
Series: Working Paper No. 14/235
Date: December 22, 2014
Subject(s): Banking sector | Liquidity | Bank financing | Systemic risk | Banking crisis | Macroprudential policies and financial stability | Crisis management

 

Title: Pakistan: Fourth and Fifth Reviews Under the Extended Arrangement and Request for Waivers of Nonobservance of Performance Criteria
Series: Country Report No. 14/357
Date: December 22, 2014
Subject(s): Fiscal policy | Fiscal consolidation | Revenue mobilization | Fiscal reforms | Monetary policy | Economic indicators | Staff Reports | Letters of Intent | Press releases | Performance criteria modifications | Extended arrangement reviews | Pakistan

 

Title: Côte d’Ivoire: Sixth Review Under the Extended Credit Facility Arrangement and Requests for Waiver of Nonobservance of Performance Criterion, Augmentation of Access, and Twelve-Month Extension of the Current Arrangement - Staff Report; Press Release; and Statement by the Executive Director for the Côte d’Ivoire
Series: Country Report No. 14/358
Date: December 22, 2014
Subject(s): Fiscal policy | Fiscal consolidation | Revenue mobilization | Fiscal reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases | Performance criteria waivers | Extended arrangement reviews

 

Title: Seychelles: First Review under the Extended Arrangement and Request for Modification of Performance Criteria-Staff Report; Press Release
Series: Country Report No. 14/356
Date: December 22, 2014
Subject(s): Extended arrangement reviews | Fiscal policy | Fiscal reforms | Public enterprises | Monetary policy | Economic indicators | Staff Reports | Letters of Intent | Press releases | Performance criteria modifications | Seychelles

 

Title: Uganda: Poverty Reduction Strategy Paper - Progress Report
Series: Country Report No. 14/354
Date: December 22, 2014
Subject(s): Poverty Reduction Strategy Papers | Economic growth | Infrastructure | Public investment | Employment | Agricultural sector | Education | Health care | Resource mobilization | Governance | Economic indicators | Uganda

 

Title: The Development of Local Capital Markets: Rationale and Challenges
Author/Editor: Luc Laeven
Series: Working Paper No. 14/234
Date: December 19, 2014
Subject(s): Capital market development | Emerging markets | Capital markets | Bond markets | Development

 

Title: Fragmentation and Vertical Fiscal Imbalances Lessons from Moldova
Author/Editor: Serhan Cevik
Series: Working Paper No. 14/233
Date: December 19, 2014
Subject(s): Vertical fiscal imbalances | Moldova | Public finance | Government expenditures | Fiscal decentralization | Econometric models | Time series | Panel analysis

 

Title: Corporate Vulnerabilities in India and Banks' Loan Performance
Author/Editor: Peter Lindner ; Sung Eun Jung
Series: Working Paper No. 14/232
Date: December 19, 2014
Subject(s): Corporate sector | India | External shocks | Banking sector | Loans | Credit risk

 

Title: Safe Debt and Uncertainty in Emerging Markets: An Application to South Africa
Author/Editor: Magnus Saxegaard
Series: Working Paper No. 14/231
Date: December 19, 2014
Subject(s): Public debt | South Africa | Debt ceilings | Fiscal policy | Debt sustainability | Emerging markets | Vector autoregression | Econometric models

 

Title: Georgia: Financial System Stability Assessment
Series: Country Report No. 14/355
Date: December 19, 2014
Subject(s): Financial system stability assessment | Financial sector | Commercial banks | Bank resolution | Deposit insurance | Bank supervision | Stress testing | Capital markets | Insurance | Reports on the Observance of Standards and Codes | Georgia

 

Title: Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth
Author/Editor: Sandra Marcelino ; Ivetta Hakobyan
Series: Working Paper No. 14/230
Date: December 18, 2014
Subject(s): Economic growth | Low-income developing countries | Debt relief | HIPC Initiative

 

Title: Revisiting Tourism Flows to the Caribbean: What is Driving Arrivals?
Author/Editor: Nicole Laframboise ; Nkunde Mwase ; Joonkyu Park ; Yingke Zhou
Series: Working Paper No. 14/229
Date: December 18, 2014
Subject(s): Tourism | Caribbean | Gross domestic product | Expenditures | Price elasticity | Real effective exchange rates

 

Title: Taxing Fossil Fuels under Speculative Storage
Author/Editor: Semih Tumen ; Deren Unalmis ; Ibrahim Unalmis ; D. Filiz Unsal
Series: Working Paper No. 14/228
Date: December 18, 2014
Subject(s): Fossil fuels | Environmental taxes | Tax policy | General equilibrium models

 

Title: Denmark: Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
Series: Country Report No. 14/352
Date: December 18, 2014
Subject(s): Financial Sector Assessment Program | Banking sector | Basel Core Principles | Bank supervision | Reports on the Observance of Standards and Codes | Denmark

 

Title: Denmark: Crisis Management, Bank Resolution, and Financial Sector Safety Nets - Technical Note
Series: Country Report No. 14/351
Date: December 18, 2014
Subject(s): Financial Sector Assessment Program | Banking sector | Bank supervision | Bank resolution | Financial safety nets | Risk management | Denmark

 

Title: Denmark: Detailed Assessment of Observance of the Insurance Core Principles
Series: Country Report No. 14/350
Date: December 18, 2014
Subject(s): Financial Sector Assessment Program | Insurance regulations | Insurance supervision | Reports on the Observance of Standards and Codes | Denmark

 

Title: Denmark: Systemic Issues in Mortgage Loans and Covered Bond Finance - Technical Note
Series: Country Report No. 14/349
Date: December 18, 2014
Subject(s): Financial Sector Assessment Program | Bonds | Bond markets | Bond issues | Debt refinancing | Loans | Borrowing | Investment | Denmark

 

Title: Denmark: Stress Testing the Banking, Insurance, and Pension Sectors - Technical Note
Series: Country Report No. 14/348
Date: December 18, 2014
Subject(s): Financial Sector Assessment Program | Stress testing | Banking sector | Liquidity | Insurance | Pensions | Risk management | Denmark

 

Title: Denmark: Financial Sector Assessment Program, Macroprudential Policies - Technical Note
Series: Country Report No. 14/347
Date: December 18, 2014
Subject(s): Financial Sector Assessment Program | Macroprudential Policy | Banking sector | Financial institutions | Insurance | Pension funds | Financial stability | Denmark

 

Title: Das Public Kapital: How Much Would Higher German Public Investment Help Germany and the Euro Area?
Author/Editor: Selim Elekdag ; Dirk Muir
Series: Working Paper No. 14/227
Date: December 17, 2014
Subject(s): Public investment | Germany | Euro Area | Demand | Economic growth | Capital productivity | Fiscal policy | Monetary policy | Econometric models

 

Title: Resolving Residential Mortgage Distress: Time to Modify?
Author/Editor: Jochen R. Andritzky
Series: Working Paper No. 14/226
Date: December 17, 2014
Subject(s): Mortgages | Housing prices | Debt | Household consumption | Debt reduction | Cross country analysis

 

Title: Republic of Moldova: Second Post-Program Monitoring Discussions-Staff Report; Staff Statement; Press Release; Statement by the Executive Director
Series: Country Report No. 14/346
Date: December 17, 2014
Subject(s): Post-program monitoring | Fiscal policy | Fiscal consolidation | Fiscal reforms | Banking sector | Monetary policy | Bank supervision | Economic indicators | Staff Reports | Press releases | Moldova

 

Title: Republic of South Sudan: 2014 Article IV Consultation- Staff Report; Staff Statement; and Press Release
Series: Country Report No. 14/345
Date: December 17, 2014
Subject(s): Article IV consultation reports | Governance | Financial management | Fiscal reforms | Exchange rate regimes | Banking sector | Economic indicators | Tax system reviews | Debt sustainability analysis | Staff Reports | Press releases | South Sudan

 

Title: The Rich and the Great Recession
Author/Editor: Bas B. Bakker ; Joshua Felman
Series: Working Paper No. 14/225
Date: December 16, 2014
Subject(s): Income inequality | United States | Income distribution | Private savings | Household consumption | Economic recession | Econometric models

 

Title: Demand Composition and Income Distribution
Author/Editor: David Pothier ; Damien Puy
Series: Working Paper No. 14/224
Date: December 15, 2014
Subject(s): Demand | Income distribution | Income inequality | Business cycles | General equilibrium models

 

Title: Private Saving Accelerations
Author/Editor: Christian Ebeke
Series: Working Paper No. 14/223
Date: December 15, 2014
Subject(s): Private savings | Domestic savings | Growth acceleration | Emerging markets | Econometric models

 

Title: Does Inflation Slow Long-Run Growth in India?
Author/Editor: Kamiar Mohaddes ; Mehdi Raissi
Series: Working Paper No. 14/222
Date: December 15, 2014
Subject(s): Inflation | India | Economic growth | Consumer price indexes | Time series | Panel analysis

 

Title: Cashing in for Growth: Corporate Cash Holdings as an Opportunity for Investment in Japan
Author/Editor: Galen Sher
Series: Working Paper No. 14/221
Date: December 15, 2014
Subject(s): Cash planning and management | Japan | Corporate investment | Economic growth

 

Title: Islamic Banking Regulation and Supervision: Survey Results and Challenges
Author/Editor: Inwon Song ; Carel Oosthuizen
Series: Working Paper No. 14/220
Date: December 12, 2014
Subject(s): Islamic banking | Commercial banks | Islamic banking supervision | Bank regulations | Bank deposits | Risk management | Transparency

 

Title: Regulation and Supervision of Islamic Banks
Author/Editor: Aledjandro Lopez Mejia ; Suliman Aljabrin ; Rachid Awad ; Mohamed Norat ; Inwon Song
Series: Working Paper No. 14/219
Date: December 12, 2014
Subject(s): Islamic banking supervision | Commercial banks | Bank regulations | Credit risk | Comparative advantage

 

Title: Oil Price Volatility and the Role of Speculation
Author/Editor: Samya Beidas-Strom ; Andrea Pescatori
Series: Working Paper No. 14/218
Date: December 12, 2014
Subject(s): Oil prices | Commodity price shocks | Vector autoregression | Econometric models

 

Title: Motives and Effectiveness of Forex Interventions: Evidence from Peru
Author/Editor: Melesse Tashu
Series: Working Paper No. 14/217
Date: December 12, 2014
Subject(s): Foreign exchange intervention | Peru | Exchange rates | Foreign exchange reserves | Capital flows

 

Title: A Fiscal Job? An Analysis of Fiscal Policy and the Labor Market
Author/Editor: Elva Bova ; Christina Kolerus ; Sampawende J.-A. Tapsoba
Series: Working Paper No. 14/216
Date: December 12, 2014
Subject(s): Fiscal policy | Tax rates | Labor markets | Employment | OECD

 

Title: Global Monetary Tightening: Emerging Markets Debt Dynamics and Fiscal Crises
Author/Editor: Julio Escolano ; Christina Kolerus ; Constant Lonkeng Ngouana
Series: Working Paper No. 14/215
Date: December 12, 2014
Subject(s): Public debt | Emerging markets | Sovereign debt | United States | Monetary policy | Spillovers | Financial crises

 

Title: Uganda: Third Review Under the Policy Support Instrument-Staff Report; and Press Release
Series: Country Report No. 14/344
Date: December 12, 2014
Subject(s): Policy Support Instrument | Economic growth | Fiscal policy | Public investment | Infrastructure | Monetary policy | Economic indicators | Staff Reports | Letters of Intent | Press releases | Uganda

 

Title: Rwanda: 2014 Article IV Consultation and Second Review Under the Policy Support Instrument-Staff Report; Press Release
Series: Country Report No. 14/343
Date: December 12, 2014
Subject(s): Article IV consultation reports | Fiscal policy | Export competitiveness | Public investment | Infrastructure | Monetary policy | Economic indicators | Policy Support Instrument | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases

 

Title: An Overview of Macroprudential Policy Tools
Author/Editor: Stijn Claessens
Series: Working Paper No. 14/214
Date: December 11, 2014
Subject(s): Macroprudential policies and financial stability | Monetary policy | Procyclicality of financial system | Financial intermediation | Other systemic risk tools

 

Title: Algeria: Selected Issues Paper
Series: Country Report No. 14/342
Date: December 11, 2014
Subject(s): Fiscal policy | Revenue mobilization | Government expenditures | Hydrocarbons | Exports | Private sector | Labor markets | Employment | Selected Issues Papers | Algeria

 

Title: Algeria: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Algeria
Series: Country Report No. 14/341
Date: December 11, 2014
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Fiscal reforms | Labor market reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Algeria

 

Title: South Africa: Financial System Stability Assessment
Series: Country Report No. 14/340
Date: December 11, 2014
Subject(s): Financial system stability assessment | Financial sector | Banks | Credit risk | Bank resolution | Stress testing | Insurance | Corporate sector | Anti-money laundering | Combating the financing of terrorism | Reports on the Observance of Standards and Codes | South Africa

 

Title: South Africa: Selected Issues Paper
Series: Country Report No. 14/339
Date: December 11, 2014
Subject(s): Economic growth | Interest rates | Bonds | Exports | Export performance | Fiscal consolidation | Selected Issues Papers | South Africa

 

Title: South Africa: 2014 Article IV Consultation-Staff Report; Informational Annex; Debt Sustainability Analysis; Staff Statement; Press Release; and Statement by the Executive Director for South Africa
Series: Country Report No. 14/338
Date: December 11, 2014
Subject(s): Article IV consultation reports | Economic conditions | Unemployment | Fiscal policy | Infrastructure | Electric power | Fiscal reforms | Monetary policy | Reserves | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | South Africa

 

Title: Mali: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waiver of Performance Criteria, and Request for Modification of Performance Criteria-Staff Report; Press Release; and Statement by the Executive Director for Mali
Series: Country Report No. 14/337
Date: December 11, 2014
Subject(s): Extended Credit Facility | Fiscal policy | Budgets | Fiscal reforms | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases | Performance criteria modifications | Performance criteria waivers | Mali

 

Title: Mali: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waiver of Performance Criteria, and Request for Modification of Performance Criteria-Staff Report; Press Release; and Statement by the Executive Director for Mali
Series: Country Report No. 14/337
Date: December 11, 2014

 

Title: Denmark: Financial System Stability Assessment
Series: Country Report No. 14/336
Date: December 9, 2014
Subject(s): Financial sector | Stress testing | Banks | Bank supervision | Bank resolution | Insurance | Macroprudential Policy | International cooperation | Financial system stability assessment | Denmark

 

Title: Denmark: Report on Observance of Standards and Codes (ROSC)
Series: Country Report No. 14/335
Date: December 9, 2014
Subject(s): Banking sector | Basel Core Principles | Bank supervision | Insurance supervision | Reports on the Observance of Standards and Codes | Denmark

 

Title: Kuwait: Selected Issues Paper
Series: Country Report No. 14/334
Date: December 9, 2014
Subject(s): Fiscal policy | Public investment | Private sector | Employment | Islamic banking | Shadow economy | Macroprudential Policy | Selected Issues Papers | Kuwait

 

Title: Kuwait: 2014 Article IV Consultation-Staff Report; Press Release
Series: Country Report No. 14/333
Date: December 9, 2014
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Fiscal reforms | Monetary policy | Macroprudential Policy | Banking sector | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Kuwait

 

Title: Denmark: Selected Issues Paper
Series: Country Report No. 14/332
Date: December 9, 2014
Subject(s): Debt | Private sector | Fiscal policy | Productivity | Gross domestic product | Selected Issues Papers | Denmark

 

Title: Denmark: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Denmark
Series: Country Report No. 14/331
Date: December 9, 2014
Subject(s): Article IV consultation reports | Economic recovery | Fiscal policy | Housing prices | Labor market reforms | Financial sector | Bank supervision | Economic indicators | Staff Reports | Press releases | Denmark