Recent IMF Publications


May 2015
 

Title: Republic of Korea: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Korea
Series: Country Report No. 15/130
Date: May 22, 2015

 

Title: Republic of Kosovo: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Republic of Kosovo
Series: Country Report No. 15/131
Date: May 21, 2015
Subject(s): Article IV consultation reports | Economic conditions | Fiscal policy | Public sector wages | Banking sector | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Kosovo

 

Title: Understanding Revenue Administration : An Initial Data Analysis Using the Revenue Administration Fiscal Information Tool
Author/Editor: Andrea Lemgruber ; Andrew Masters ; Duncan Cleary
Series: Fiscal Affairs Departmental Paper No. 15/1
Date: May 20, 2015
Subject(s): Fiscal management | Fiscal policy | Revenues | Tax administration | Tax policy

 

Title: A Network Analysis of Sectoral Accounts: Identifying Sectoral Interlinkages in G-4 Economies
Author/Editor: Luiza Antoun de Almeida
Series: Working Paper No. 15/111
Date: May 19, 2015
Subject(s): Financial sector | United States | Japan | United Kingdom | Euro Area | Nonbank financial sector | Financial instruments | Debt securities | Loans | Stocks | Cross country analysis

 

Title: Assessing Fiscal Risks in Bangladesh
Author/Editor: Leandro Medina
Series: Working Paper No. 15/110
Date: May 19, 2015
Subject(s): Fiscal risk | Bangladesh | External shocks | Commodity prices | Loan guarantees | Pensions | Public debt | External borrowing | Sensitivity analysis

 

Title: Correcting “Beyond the Cycle:” Accounting for Asset Prices in Structural Fiscal Balances
Author/Editor: Estelle X. Liu ; Todd Mattina ; Tigran Poghosyan
Series: Working Paper No. 15/109
Date: May 19, 2015
Subject(s): Asset prices | Structural fiscal balance | Business cycles | Revenues | OECD | Error analysis | Econometric models

 

Title: Albania: Fourth Review Under the Extended Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria-Staff Report; and Press Release
Series: Country Report No. 15/129
Date: May 19, 2015
Subject(s): Extended arrangement reviews | Fiscal consolidation | Fiscal reforms | Electric power | Monetary policy | Bank supervision | Economic indicators | Balance of payments statistics | Debt sustainability analysis | Letters of Intent | Staff Reports | Press releases | Performance criteria modifications | Performance criteria waivers | Albania

 

Title: Saving in Latin America and the Caribbean: Performance and Policies
Author/Editor: Francesco Grigoli ; Alexander Herman ; Klaus Schmidt-Hebbel
Series: Working Paper No. 15/108
Date: May 18, 2015
Subject(s): Savings | Latin America | Caribbean | Private savings | Public sector savings | Terms of trade | Fiscal policy | Monetary policy

 

Title: Islamic Finance, Consumer Protection, and Financial Stability
Author/Editor: Inutu Lukonga
Series: Working Paper No. 15/107
Date: May 18, 2015
Subject(s): Islamic banking | Banks | Financial services industry | Financial regulation and supervision | Financial stability

 

Title: Issuance of Central Bank Securities: International Experiences and Guidelines
Author/Editor: Simon Gray ; Runchana Pongsaparn
Series: Working Paper No. 15/106
Date: May 18, 2015
Subject(s): Central banks | Securities | Bond issues | Excess liquidity | Liquidity management | Monetary policy | Inflation targeting

 

Title: How Large Are Global Energy Subsidies?
Author/Editor: David Coady ; Ian W.H. Parry ; Louis Sears ; Baoping Shang
Series: Working Paper No. 15/105
Date: May 18, 2015
Subject(s): Energy sector | Subsidies | Energy prices | Consumption taxes | Fiscal reforms | Sensitivity analysis

 

Title: Portugal: Selected Issues Paper
Series: Country Report No. 15/127
Date: May 18, 2015
Subject(s): Fiscal reforms | Corporate sector | Debt restructuring | Fiscal policy | Labor markets | Global competitiveness | Selected Issues Papers | Portugal

 

Title: Portugal: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Portugal
Series: Country Report No. 15/126
Date: May 18, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Corporate sector | Debt | Fiscal reforms | Banking sector | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Portugal

 

Title: China’s Monetary Policy and Interest Rate Liberalization : Lessons from International Experiences
Author/Editor: Wei Liao ; Sampawende J.-A. Tapsoba
Series: Working Paper No. 14/75
Date: May 15, 2015
Subject(s): Monetary policy | China | Interest rates | Demand for money | Financial sector | Banks | Cross country analysis

 

Title: Federated States of Micronesia: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Federated States of Micronesia
Series: Country Report No. 15/128
Date: May 15, 2015
Subject(s): Article IV consultation reports | Economic growth | Private sector | Fiscal policy | Commercial banks | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Micronesia

 

Title: Dollarization in Sub-Saharan Africa : Experiences and Lessons
Author/Editor: Mauro Mecagni ; Juan S Corrales ; Jemma Dridi ; Rodrigo Garcia-Verdu ; Patrick A. Imam ; Justin Matz ; Carla Macario ; Rodolfo Maino ; Yibin Mu ; Ashwin Moheeput ; Machiko Narita ; Marco Pani ; Manuel Rosales ; Sebastian Weber ; Etienne B. Yehoue
Series: African Departmental Paper No. 15/4
Date: May 15, 2015
Subject(s): Dollarization | Sub-Saharan Africa | Foreign exchange | Foreign currency deposits | Capital controls | Econometric models

 

Title: Chad: Poverty Reduction Strategy Paper-Joint Staff Advisory Note on the 2013 Monitoring Report of the National Development Plan 2013-15
Series: Country Report No. 15/125
Date: May 14, 2015
Subject(s): Poverty Reduction Strategy Papers | Economic growth | Nonoil sector | Fiscal consolidation | Budgets | Environmental protection | Climatic changes | Education | Health care | Development plans | Chad

 

Title: Kyrgyz Republic: Request for a Three-Year Arrangement Under the Extended Credit Facility-Staff Report; and Press Release
Series: Country Report No. 15/113
Date: May 14, 2015
Subject(s): Extended Credit Facility | Fiscal policy | Public investment | Fiscal reforms | Monetary policy | Bank supervision | Exchange rate assessments | Debt sustainability analysis | Economic indicators | Social indicators | Letters of Intent | Staff Reports | Press releases | Kyrgyz Republic

 

Title: Domestic and Foreign Mutual Funds in Mexico: Do They Behave Differently?
Author/Editor: Jasmine Xiao
Series: Working Paper No. 15/104
Date: May 13, 2015
Subject(s): Mutual funds | Mexico | Capital flows | Capital market volatility | Foreign investment | Emerging markets

 

Title: Chad: Enhanced Heavily Indebted Poor Countries Initiative - Completion Point Document And Multilateral Debt Relief Initiative
Series: Country Report No. 15/124
Date: May 13, 2015
Subject(s): HIPC Initiative | External debt | Multilateral debt relief initiative | Debt management | Debt sustainability analysis | Poverty Reduction Strategy Papers | Staff Reports | Press releases | Chad

 

Title: Chad: First Review Under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria, and Augmentation of Access-Staff Report; Press Release; and Statement by the Executive Director for Chad
Series: Country Report No. 15/123
Date: May 13, 2015
Subject(s): Extended Credit Facility | Fiscal policy | HIPC Initiative | Fiscal reforms | Economic indicators | Letters of Intent | Staff Reports | Press releases | Performance criteria modifications | Performance criteria waivers | Chad

 

Title: Bulgaria: Selected Issues Paper
Series: Country Report No. 15/120
Date: May 13, 2015
Subject(s): Corporate sector | Debt | Inflation | Deflation | Selected Issues Papers | Bulgaria

 

Title: Bulgaria: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Bulgaria
Series: Country Report No. 15/119
Date: May 13, 2015
Subject(s): Article IV consultation reports | Governance | Fiscal policy | Debt sustainability | Fiscal reforms | Banking sector | Reserves adequacy | Economic indicators | Staff Reports | Press releases | Bulgaria

 

Title: Ireland: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles
Series: Country Report No. 15/118
Date: May 13, 2015
Subject(s): Financial Sector Assessment Program | Insurance regulations | Insurance supervision | Reports on the Observance of Standards and Codes | Ireland

 

Title: Ireland: Report on Observance of Standards and codes (ROSC)
Series: Country Report No. 15/117
Date: May 13, 2015
Subject(s): Insurance | Insurance supervision | Central banks | Bank supervision | Reports on the Observance of Standards and Codes | Ireland

 

Title: Brazil: Selected Issues Paper
Series: Country Report No. 15/122
Date: May 12, 2015
Subject(s): Fiscal policy | Infrastructure | Public investment | Minimum wage | Corporate sector | Exchange markets | Intervention | Monetary policy | Selected Issues Papers | Brazil

 

Title: Brazil: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Brazil
Series: Country Report No. 15/121
Date: May 12, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Public debt | Fiscal consolidation | Fiscal reforms | Monetary policy | Inflation targeting | Exchange markets | Intervention | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Brazil

 

Title: Morocco: Selected Issues Paper : The Sub-Saharan Expansion of Moroccan Banks: Challenges and Opportunities
Series: Country Report No. 15/106
Date: May 8, 2015
Subject(s): Banking sector | Sub-Saharan Africa | Central bank role | Bank supervision | Financial risk | Risk management | Selected Issues Papers | Morocco

 

Title: Kingdom of the Netherlands-Aruba: 2015 Article IV Consultation Discussions-Staff Report; and Press Release
Series: Country Report No. 15/116
Date: May 7, 2015
Subject(s): Article IV consultation reports | Economic recovery | Tourism | Fiscal policy | Fiscal consolidation | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Aruba | Netherlands

 

Title: Jordan: Sixth Review Under the Stand-By Arrangement, Request for Waivers of Applicability of Performance Criteria, and Rephasing of Access-Staff Report; Press Release; and Statement by the Executive Director for Jordan
Series: Country Report No. 15/115
Date: May 7, 2015
Subject(s): Stand-by arrangement reviews | Fiscal policy | Fiscal reforms | Financial management | Labor market reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Letters of Intent | Staff Reports | Press releases | Jordan

 

Title: Thailand: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Thailand
Series: Country Report No. 15/114
Date: May 7, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Fiscal reforms | Energy prices | Subsidies | Monetary policy | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Thailand

 

Title: Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe
Author/Editor: Shekhar Aiyar ; A. J. Al-Eyd ; Bergljot Barkbu ; Andreas Jobst
Series: Staff Discussion Notes No. 15/7
Date: May 7, 2015
Subject(s): Business enterprises | Europe | Securities markets | Access to capital markets | Securities | Debt financing | Financial intermediation

 

Title: High Liquidity Creation and Bank Failures
Author/Editor: Zuzana Fungacova ; Rima Turk ; Laurent Weill
Series: Working Paper No. 15/103
Date: May 6, 2015
Subject(s): Banking sector | Russian Federation | Bank liquidity | Default

 

Title: Are African Households Heterogeneous Agents? : Stylized Facts on Patterns of Consumption, Employment, Income and Earnings for Macroeconomic Modelers
Author/Editor: Louise Fox
Series: Working Paper No. 15/102
Date: May 6, 2015
Subject(s): Income distribution | Sub-Saharan Africa | Income inequality | Household consumption | Employment | Business cycles | Econometric models

 

Title: Energy Subsidies and Public Social Spending: Theory and Evidence
Author/Editor: Christian Ebeke ; Constant Lonkeng Ngouana
Series: Working Paper No. 15/101
Date: May 6, 2015
Subject(s): Energy sector | Subsidies | Public expenditures and education | Public expenditures and health | Public goods | Econometric models

 

Title: How to Improve the Effectiveness of Monetary Policy in the West African Economic and Monetary Union
Author/Editor: Alexei Kireyev
Series: Working Paper No. 15/99
Date: May 5, 2015
Subject(s): Monetary policy | West African Economic and Monetary Union | Exchange rate regimes | Fixed exchange rates | Capital controls | Monetary policy instruments | Monetary transmission mechanism

 

Title: Tax Policy in MENA Countries: Looking Back and Forward
Author/Editor: Mario Mansour
Series: Working Paper No. 15/98
Date: May 5, 2015
Subject(s): Tax policy | Middle East | North Africa | Taxation | Consumption taxes | Corporate income taxes | Personal income taxes | Stamp duties | Tax revenues | Cross country analysis

 

Title: Does Basel Compliance Matter for Bank Performance?
Author/Editor: Rym Ayadi ; Sami Ben Naceur ; Barbara Casu ; Barry Quinn
Series: Working Paper No. 15/100
Date: May 5, 2015
Subject(s): Banks | Basel Core Principles | Bank compliance | Bank supervision | Bank regulations

 

Title: Determinants of Firm Profitability in Colombia’s Manufacturing Sector: Exchange Rate or Structural?
Author/Editor: Naomi Griffin
Series: Working Paper No. 15/97
Date: May 4, 2015
Subject(s): Manufacturing sector | Colombia | Profits | Real effective exchange rates | Exchange rate appreciation | Econometric models

 

Title: What Drives Interest Rate Spreads in Pacific Island Countries? An Empirical Investigation
Author/Editor: Fazurin Jamaludin ; Vladimir Klyuev ; Anuk Serechetapongse
Series: Working Paper No. 15/96
Date: May 4, 2015
Subject(s): Banking systems | Pacific Island Countries | Foreign banks | Interest rates | Profit margins | Cross-country analysis

 

Title: The Macroeconomic Effects of Public Investment : Evidence from Advanced Economies
Author/Editor: Abdul Abiad ; Davide Furceri ; Petia Topalova
Series: Working Paper No. 15/95
Date: May 4, 2015
Subject(s): Public investment | Infrastructure | Developed countries | OECD | Econometric models | Time series

 

Title: Republic of Poland: Technical Assistance Report-Tax Administration-Modernization Challenges and Strategic Priorities
Series: Country Report No. 15/112
Date: May 4, 2015
Subject(s): Tax administration | Tax collection | Value added tax | Tax revenues | Technical Assistance | Poland

 

Title: Republic of Latvia: Selected Issues Paper
Series: Country Report No. 15/111
Date: May 4, 2015
Subject(s): Economic growth | Migration | Workers remittances | Labor supply | Labor productivity | Immigration | Selected Issues Papers | Latvia

 

Title: Republic of Latvia: 2015 Article IV Consultation-Staff Report; Information Annex; and Press Release
Series: Country Report No. 15/110
Date: May 4, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Fiscal reforms | Bank supervision | Bank credit | Economic indicators | Staff Reports | Press releases | Latvia

 

Title: Rethinking Financial Deepening : Stability and Growth in Emerging Markets
Author/Editor: Ratna Sahay ; Martin Cihak ; Papa N'Diaye ; Adolfo Barajas ; Diana Ayala Pena ; Ran Bi ; Yuan Gao ; Annette Kyobe ; Lam Nguyen ; Christian Saborowski ; Katsiaryna Svirydzenka ; Reza Yousefi
Series: Staff Discussion Notes No. 15/8
Date: May 4, 2015
Subject(s): Financial stability | Economic growth | Capital market development | Access to capital markets | Emerging markets

 

Title: How Important are Debt and Growth Expectations for Interest Rates?
Author/Editor: Sohrab Rafiq
Series: Working Paper No. 15/94
Date: May 1, 2015
Subject(s): Public debt | Economic growth | Expectations | Interest rates | Variables (Mathematics) | Econometric models

 

Title: Too Much of a Good Thing? Prudent Management of Inflows under Economic Citizenship Programs
Author/Editor: Xin Xu ; Ahmed El-Ashram ; Judith Gold
Series: Working Paper No. 15/93
Date: May 1, 2015
Subject(s): Capital inflows | Public sector savings | Public investment | Fiscal framework | Sovereign wealth funds | Fiscal management

 

Title: The Potential Macroeconomic Impact of the Unconventional Oil and Gas Boom in the United States
Author/Editor: Ben Hunt ; Dirk Muir ; Martin Sommer
Series: Working Paper No. 15/92
Date: May 1, 2015
Subject(s): Commodity boom | United States | Oil sector | Natural gas sector | Oil production | Fiscal policy | General equilibrium models

 

Title: Guinea: Request for Debt Relief Under the Catastrophe Containment Window of the Catastrophe Containment and Relief Trust-Staff Report; and Press Release
Series: Country Report No. 15/108
Date: May 1, 2015
Subject(s): External shocks | Balance of payments need | Debt relief | Emergency financing mechanism | Economic indicators | Letters of Intent | Staff Reports | Press releases | Guinea

 
 
April 2015
 

Title: The Role of Productivity, Transportation Costs, and Barriers to Intersectoral Mobility in Structural Transformation
Author/Editor: Cem Karayalcin ; Mihaela Pintea
Series: Working Paper No. 15/91
Date: April 30, 2015
Subject(s): Labor productivity | Agricultural sector | Manufacturing sector | Labor mobility | Transportation | Econometric models

 

Title: From Natural Resource Boom to Sustainable Economic Growth: Lessons for Mongolia
Author/Editor: Pranav Gupta ; Grace Bin Li ; Jiangyan Yu
Series: Working Paper No. 15/90
Date: April 30, 2015
Subject(s): Natural resources | Mongolia | Commodity boom | Mining sector | Revenues | Economic growth | Sustainable development | Fiscal sustainability

 

Title: Fair Weather or Foul? The Macroeconomic Effects of El Niño
Author/Editor: Paul Cashin ; Kamiar Mohaddes ; Mehdi Raissi
Series: Working Paper No. 15/89
Date: April 30, 2015
Subject(s): Regional shocks | Commodity prices | Climatic changes | Financial and Monetary Sector | Cross country analysis | Econometric models

 

Title: What has Capital Liberalization Meant for Economic and Financial Statistics
Author/Editor: Robert M. Heath
Series: Working Paper No. 15/88
Date: April 30, 2015
Subject(s): Capital flows | Capital account liberalization | Economic data and statistics | Financial statistics | Data collection | Transparency

 

Title: Mongolia: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Mongolia
Series: Country Report No. 15/109
Date: April 30, 2015
Subject(s): Article IV consultation reports | Economic growth | Natural resources | Fiscal policy | Mining sector | Fiscal reforms | Monetary policy | Banking sector | Exchange rate assessments | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Mongolia

 

Title: Tonga: 2015 Article IV Consultation-Staff Report; and Press Release
Series: Country Report No. 15/107
Date: April 30, 2015
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Government expenditures | Fiscal reforms | Monetary policy | Economic indicators | Millennium Development Goals | Debt sustainability analysis | Staff Reports | Press releases | Tonga

 

Title: Fiscal Policy in Latin America : Lessons and Legacies of the Global Financial Crisis
Author/Editor: Oya Celasun ; Francesco Grigoli ; Keiko Honjo ; Javier Kapsoli ; Alexander Klemm ; Bogdan Lissovolik ; Jan Luksic ; Marialuz Moreno Badia ; Joana Pereira ; Marcos Poplawski-Ribeiro ; Baoping Shang ; Yulia Ustyugova
Series: Staff Discussion Notes No. 15/6
Date: April 30, 2015
Subject(s): Fiscal policy | Latin America | Government expenditures | Fiscal rules and institutions | Global Financial Crisis 2008-2009

 

Title: Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight
Author/Editor: Charles Enoch ; Paul Henri Mathieu ; Mauro Mecagni ; Jorge Iván Canales Kriljenko
Series: African Departmental Paper No. 15/3
Date: April 30, 2015
Subject(s): Banking systems | Sub-Saharan Africa | Systemically important financial institutions | Cross-border banking | Bank supervision | Bank soundness | Cross country analysis

 

Title: Determinants of Bank Interest Margins in the Caucasus and Central Asia
Author/Editor: Raja Almarzoqi ; Sami Ben Naceur
Series: Working Paper No. 15/87
Date: April 29, 2015
Subject(s): Banking sector | Central Asia and the Caucasus | Interest rates | Profit margins | Panel analysis | Econometric models | Cross country analysis

 

Title: Non-FDI Capital Inflows in Low-Income Developing Countries: Catching the Wave?
Author/Editor: Juliana Dutra Araujo ; Antonio David ; Carlos van Hombeeck ; Chris Papageorgiou
Series: Working Paper No. 15/86
Date: April 29, 2015
Subject(s): Capital inflows | Low-income developing countries | Emerging markets | Capital flows | Private sector

 

Title: Financial Crisis, US Unconventional Monetary Policy and International Spillovers
Author/Editor: Qianying Chen ; Andrew Filardo ; Dong He ; Feng Zhu
Series: Working Paper No. 15/85
Date: April 29, 2015
Subject(s): Monetary policy | United States | Unconventional monetary policy instruments | Spillovers | Financial crises

 

Title: Understanding Residential Real Estate in China
Author/Editor: Mali Chivakul ; Raphael W. Lam ; Xiaoguang Liu ; Wojciech Maliszewski ; Alfred Schipke
Series: Working Paper No. 15/84
Date: April 28, 2015
Subject(s): Real estate prices | China | Supply and demand | Economic growth

 

Title: Do Resource Windfalls Improve the Standard of Living in Sub-Saharan African Countries? : Evidence from a Panel of Countries
Author/Editor: Munseob Lee ; Cheikh A. Gueye
Series: Working Paper No.15/83
Date: April 28, 2015
Subject(s): Natural resources | Sub-Saharan Africa | Commodity boom | Rent | Income | Welfare | Corruption | Governance | Inclusive growth | Panel analysis | Cross country analysis

 

Title: Hong Kong’s Growth Synchronization with China and the U.S.: A Trend and Cycle Analysis
Author/Editor: Dong He ; Wei Liao ; Tommy Wu
Series: Working Paper No. 15/82
Date: April 28, 2015
Subject(s): Economic growth | Hong Kong SAR | China | United States | Income | Consumption | Business cycles | Economic integration

 

Title: Is Islamic Banking Good for Growth?
Author/Editor: Patrick A. Imam ; Kangni Kpodar
Series: Working Paper No. 15/81
Date: April 28, 2015
Subject(s): Islamic banking | Economic growth | Low-income developing countries | Financial sector | Econometric models | Time series

 

Title: Zimbabwe: First Review Under the Staff-Monitor Program-Staff Report; and Press Release
Series: Country Report No. 15/105
Date: April 28, 2015
Subject(s): Staff-monitored programs | Economic conditions | Fiscal policy | External payments arrears | Fiscal reforms | Banking sector | Economic indicators | Letters of Intent | Staff Reports | Press releases | Zimbabwe

 

Title: Capital Control Measures: A New Dataset
Author/Editor: Andrés Fernández ; Michael W. Klein ; Alessandro Rebucci ; Martin Schindler ; Martin Uribe
Series: Working Paper No. 15/80
Date: April 22, 2015
Subject(s): Capital controls | Capital inflows | Capital outflows | Capital flows | Data analysis | Time series

 

Title: The Gambia: Request for Disbursement Under the Rapid Credit Facility, cancellation of the Extended Credit Facility and proposal for a Staff-Monitored Program-Staff Report; Press Release; and Statement by the Executive Director for The Gambia
Series: Country Report No. 15/104
Date: April 22, 2015
Subject(s): Rapid Credit Facility | External shocks | Balance of payments need | Staff-monitored programs | Fiscal policy | Monetary policy | Economic indicators | Debt sustainability analysis | Letters of Intent | Staff Reports | Press releases | Extended Credit Facility | Extended arrangement cancellations | Gambia, The

 

Title: Ghana: Request For A Three-Year Arrangement Under The Extended Credit Facility; Staff Report; Press Release; and Statement by the Executive Director for Ghana
Series: Country Report No. 15/103
Date: April 21, 2015
Subject(s): Extended Credit Facility | Fiscal consolidation | Debt management | Bond markets | Monetary policy | Inflation targeting | Economic indicators | Debt sustainability analysis | Letters of Intent | Staff Reports | Press releases | Extended arrangement requests | Ghana

 

Title: Solomon Islands: Fourth Review Under the Extended Credit Facility Arrangement and Request For Modification of Performance Criteria-Staff Report; Press Release; and Statement by the Executive Director for Solomon Islands
Series: Country Report No. 15/102
Date: April 15, 2015
Subject(s): Extended Credit Facility | Fiscal policy | Government expenditures | Monetary policy | Basket of currency peg | Economic indicators | Letters of Intent | Staff Reports | Press releases | Solomon Islands

 

Title: Fiscal Monitor, April 2015 : Now Is the Time: Fiscal Policies for Sustainable Growth
Series: Fiscal Monitor
Date: April 15, 2015
Subject(s): Fiscal policy | Fiscal management | Fiscal analysis | Fiscal risk | Fiscal stability | Fiscal sustainability | Fiscal balance | Fiscal data | Fiscal framework | Fiscal Monitor | Fiscal projections | Fiscal stabilization

 

Title: Global Financial Stability Report, April 2015 : Navigating Monetary Policy Challenges and Managing Risks
Series: Global Financial Stability Report
Date: April 15, 2015

 

Title: World Economic Outlook, April 2015 : Uneven Growth: Short- and Long-Term Factors
Series: World Economic and Financial Surveys
Date: April 14, 2015

 

Title: West African Economic and Monetary Union: Selected Issues
Series: Country Report No. 15/101
Date: April 13, 2015
Subject(s): Economic growth | West African Economic and Monetary Union | Current account deficits | Exchange rate assessments | Reserves adequacy | Commercial banks | Liquidity | Central banks | Tariff structures | Payment systems | Selected Issues Papers | West Africa

 

Title: West African Economic and Monetary Union-Common Policies of Member Countries-Staff Report; Press Release; and Statement by the Executive Director
Series: Country Report No. 15/100
Date: April 13, 2015
Subject(s): Staff Reports | West African Economic and Monetary Union | Economic growth | Fiscal consolidation | Fiscal policy | Fiscal reforms | Monetary policy | Bank supervision | Economic indicators | Press releases | West Africa

 

Title: Hungary: Technical Assistance Report-Operational Aspects of Establishing an Asset Management Company
Series: Country Report No. 15/99
Date: April 10, 2015
Subject(s): Asset management | Financial institutions | Corporate governance | Technical Assistance | Hungary

 

Title: Frontier and Developing Asia : The Next Generation of Emerging Markets
Author/Editor: Alfred Schipke
Date: April 10, 2015
Subject(s): Developing countries

 

Title: Republic of San Marino: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of San Marino
Series: Country Report No. 15/94
Date: April 8, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Italy | Public debt | Debt sustainability | Banking sector | Bank restructuring | Bank supervision | Economic indicators | Staff Reports | Press releases | San Marino

 

Title: A Simple Multivariate Filter for Estimating Potential Output
Author/Editor: Patrick Blagrave ; Roberto Garcia-Saltos ; Douglas Laxton ; Fan Zhang
Series: Working Paper No. 15/79
Date: April 7, 2015
Subject(s): Potential output | Gross domestic product | Inflation | Unemployment | Econometric models | Parameter estimation | Economic theory

 

Title: Central and Eastern Europe: New Member States (NMS) Policy Forum, 2014, Selected Issues Paper
Series: Country Report No. 15/98
Date: April 7, 2015
Subject(s): Central American Bank for Economic Integration | Euro | European Economic and Monetary Union | Banking systems | Banks | Bank supervision | Fiscal policy | Pension reforms | Selected Issues Papers | Central and Eastern Europe

 

Title: Central and Eastern Europe: New Member States (NMS) Policy Forum, 2014, Staff Report on Cluster Consultations—Common Policy Frameworks and Challenges
Series: Country Report No. 15/97
Date: April 7, 2015
Subject(s): Economic integration | European Economic and Monetary Union | Euro | Fiscal policy | Trade liberalization | Pension reforms | Banking systems | Bank supervision | Staff Reports | Central and Eastern Europe

 

Title: Pakistan: Sixth Review Under the Extended Arrangement and Modification of Performance Criteria-Staff Report; Press Release; and Statement by the Executive Director for Pakistan
Series: Country Report No. 15/96
Date: April 7, 2015
Subject(s): Extended arrangement reviews | Fiscal policy | Monetary policy | Economic indicators | Debt sustainability analysis | Letters of Intent | Staff Reports | Press releases | Performance criteria modifications | Pakistan

 

Title: Islamic Finance : Opportunities, Challenges, and Policy Options
Author/Editor: Alfred Kammer ; Mohamed Norat ; Marco Pinon ; Ananthakrishnan Prasad ; Christopher M. Towe ; Zeine Zeidane
Series: Staff Discussion Notes No. 15/5
Date: April 6, 2015
Subject(s): Islamic banking | Bank regulations | Bank supervision | Deposit insurance | Bank resolution | Risk management | Macroprudential policies and financial stability | Monetary policy | Liquidity management | Tax policy | Infrastructure | Financial management

 

Title: Macroprudential Policy and Labor Market Dynamics in Emerging Economies
Author/Editor: Alan Finkelstein Shapiro ; Andres Gonzalez
Series: Working Paper No. 15/78
Date: April 3, 2015
Subject(s): Macroprudential policies and financial stability | Latin America | Emerging markets | Labor markets | Business cycles | Small open economies | Labor market friction | Econometric models

 

Title: Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?
Author/Editor: Nicolas E. Magud ; Sebastian Sosa
Series: Working Paper No. 15/77
Date: April 3, 2015
Subject(s): Private investments | Emerging markets | Commodities | Export prices | Capital inflows | Econometric models

 

Title: Jamaica: Seventh 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. 15/95
Date: April 3, 2015
Subject(s): Extended Fund Facility | Fiscal policy | Budgets | Fiscal reforms | Monetary policy | Economic indicators | Letters of Intent | Staff Reports | Press releases | Performance criteria modifications | Jamaica

 

Title: Hungary: Selected Issues Paper
Series: Country Report No. 15/93
Date: April 3, 2015
Subject(s): Economic growth | Export competitiveness | Government expenditures | Health care | Education | Women | Labor markets | Gender equality | Monetary policy | Selected Issues Papers | Hungary

 

Title: Hungary: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Hungary
Series: Country Report No. 15/92
Date: April 3, 2015
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Fiscal reforms | Financial intermediation | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Hungary

 

Title: Recent U.S. Labor Force Dynamics: Reversible or not?
Author/Editor: Ravi Balakrishnan ; Mai Dao ; Juan Sole ; Jeremy Zook
Series: Working Paper No. 15/76
Date: April 2, 2015
Subject(s): Labor force participation | United States | Aging | Unemployment | Older people

 

Title: United States: Financial Sector Assessment Program-Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulation
Series: Country Report No. 15/91
Date: April 2, 2015
Subject(s): Financial Sector Assessment Program | Securities markets | Securities regulations | Reports on the Observance of Standards and Codes | United States

 

Title: United States: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles
Series: Country Report No. 15/90
Date: April 2, 2015
Subject(s): Financial Sector Assessment Program | Insurance regulations | Insurance supervision | Reports on the Observance of Standards and Codes | United States

 

Title: United States: Financial Sector Assessment Program-Detailed Assessment of Observance on the Basel Core Principles for Effective Banking Supervision
Series: Country Report No. 15/89
Date: April 2, 2015
Subject(s): Financial Sector Assessment Program | Banking sector | Basel Core Principles | Bank supervision | Reports on the Observance of Standards and Codes | United States

 

Title: Qatar: Selected Issues
Series: Country Report No. 15/87
Date: April 2, 2015
Subject(s): Fiscal policy | Revenues | Government expenditures | Nonoil sector | Economic growth | Productivity | Inflation | Selected Issues Papers | Qatar

 

Title: Qatar: 2015 Article IV Consultation-Staff Report; and Press Release
Series: Country Report No. 15/86
Date: April 2, 2015
Subject(s): Article IV consultation reports | Economic growth | Public investment | Oil prices | Real estate prices | Bank supervision | Economic indicators | Balance of payments statistics | Staff Reports | Press releases | Qatar

 

Title: How Did Markets React to Stress Tests?
Author/Editor: Bertrand Candelon ; Amadou N. R. Sy
Series: Working Paper No. 15/75
Date: April 1, 2015
Subject(s): Stress testing | European Union | Banks | Stock markets | Macroprudential policies and financial stability

 

Title: Frontiers of Monetary Policymaking: Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic
Author/Editor: Ali Alichi ; Jaromir Benes ; Joshua Felman ; Irene Feng ; Charles Freedman ; Douglas Laxton ; Evan Tanner ; David Vavra ; Hou Wang
Series: Working Paper No. 15/74
Date: April 1, 2015
Subject(s): Monetary policy | Czech Republic | Inflation targeting | Deflation | Exchange rate policy | Exchange markets | Foreign exchange intervention

 

Title: Burundi: Sixth Review Under the Extended Credit Facility Arrangement and Request for Extension and Augmentation of Access-Staff Report; Press Release; and Statement by the Executive Director for Burundi
Series: Country Report No. 15/88
Date: April 1, 2015
Subject(s): Extended Credit Facility | Fiscal policy | Fiscal reforms | Monetary policy | Economic indicators | Letters of Intent | Debt sustainability analysis | Staff Reports | Press releases | Burundi

 
 
March 2015
 

Title: Electronic Fiscal Devices (EFDs) An Empirical Study of their Impact on Taxpayer Compliance and Administrative Efficiency
Author/Editor: Peter Casey ; Patricio Castro
Series: Working Paper No. 15/73
Date: March 30, 2015
Subject(s): Tax administration | Tax compliance | Value added taxes | Tax collection | Revenue administration | Technological innovation

 

Title: Assessing China’s Corporate Sector Vulnerabilities
Author/Editor: Mali Chivakul ; Raphael W. Lam
Series: Working Paper No. 15/72
Date: March 30, 2015
Subject(s): Corporate sector | China | Borrowing | Interest rate increases | Public enterprises | Construction services | Debt burden

 

Title: Tackling Small and Medium Enterprise Problem Loans in Europe
Author/Editor: Wolfgang Bergthaler ; Kenneth Kang ; Yan Liu ; Dermot Monaghan
Series: Staff Discussion Notes No. 15/4
Date: March 30, 2015
Subject(s): Business enterprises | Europe | Non-performing loans | Corporate sector | Bankruptcy | Debt restructuring

 

Title: Nigeria: Selected Issues Paper
Series: Country Report No. 15/85
Date: March 30, 2015
Subject(s): Development plans | Oil sector | Oil revenues | Oil prices | Financial institutions | Infrastructure | Trade integration | Imports | Selected Issues Papers | Nigeria

 

Title: Nigeria: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Nigeria
Series: Country Report No. 15/84
Date: March 30, 2015
Subject(s): Article IV consultation reports | Economic growth | Oil prices | Nonoil sector | Fiscal policy | Monetary policy | Banking sector | Economic indicators | Millennium Development Goals | Debt sustainability analysis | Staff Reports | Press releases | Nigeria

 

Title: Malawi: Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement, Request for Waivers for Non-Observance of Performance Criteria, Extensions of the Arrangement, Modification of Performance Criterion, and Rephasing of Disbursements-Staff Report; Press Release; and Statement by the Executive Director for Malawi
Series: Country Report No. 15/83
Date: March 30, 2015
Subject(s): Extended Credit Facility | Fiscal reforms | Financial management | Monetary policy | Economic indicators | Letters of Intent | Debt sustainability analysis | Staff Reports | Press releases | Phasing of purchases | Performance criteria modifications | Performance criteria waivers | Malawi

 

Title: Fiscal Multipliers in Ukraine
Author/Editor: Pritha Mitra ; Tigran Poghosyan
Series: Working Paper No. 15/71
Date: March 27, 2015
Subject(s): Fiscal stimulus and multipliers | Ukraine | Fiscal consolidation | Government expenditures | Tax revenues | Structural vector autoregression | Econometric models

 

Title: Spillovers in the Nordic Countries
Author/Editor: Borislava Mircheva ; Dirk Muir
Series: Working Paper No. 15/70
Date: March 27, 2015
Subject(s): Spillovers | Denmark | Finland | Sweden | Norway | Russian Federation | Oil prices | Economic integration | Monetary policy | Fiscal policy | Cross country analysis | General equilibrium models

 

Title: Investment Scaling-up and the Role of Government: the Case of Benin
Author/Editor: Matteo Ghilardi ; Sergio Sola
Series: Working Paper No. 15/69
Date: March 27, 2015
Subject(s): Public investment | Benin | Infrastructure | Expenditure efficiency | Tax collection | Fiscal stabilization | Fiscal sustainability | General equilibrium models

 

Title: Romania: Selected Issues
Series: Country Report No. 15/80
Date: March 27, 2015
Subject(s): Fiscal policy | Labor markets | Labor taxes | Export performance | Global competitiveness | Public investment | Infrastructure | Fiscal reforms | Public enterprises | Inflation targeting | Monetary policy | Selected Issues Papers | Romania

 

Title: Romania: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Romania
Series: Country Report No. 15/79
Date: March 27, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Fiscal reforms | Monetary policy | Bank supervision | Financial intermediation | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Romania

 

Title: Uruguay: Selected Issues Paper
Series: Country Report No. 15/82
Date: March 26, 2015
Subject(s): Economic growth | Monetary policy | United States | Exchange rate depreciation | Selected Issues Papers | Uruguay

 

Title: Uruguay: 2014 Article IV Consultation-Staff Report; and Press Release
Series: Country Report No. 15/81
Date: March 26, 2015
Subject(s): Article IV consultation reports | Economic conditions | Economic growth | Inflation targeting | Monetary policy | Fiscal policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Uruguay

 

Title: Growing (Un)equal: Fiscal Policy and Income Inequality in China and BRIC+
Author/Editor: Serhan Cevik ; Carolina Correa-Caro
Series: Working Paper No. 15/68
Date: March 25, 2015
Subject(s): Income inequality | China | Brazil | Russian Federation | India | Fiscal policy | Income distribution | Economic growth | Cross country analysis | Time series | Panel analysis

 

Title: Ireland: Selected Issues
Series: Country Report No. 15/78
Date: March 25, 2015
Subject(s): Fiscal policy | Corporate sector | Nonbank financial sector | Financial intermediation | Banking sector | Selected Issues Papers | Ireland

 

Title: Ireland: 2015 Article IV Consultation-Staff Report; Press Release
Series: Country Report No. 15/77
Date: March 25, 2015
Subject(s): Article IV consultation reports | Economic recovery | Economic growth | Fiscal policy | Bank supervision | Macroprudential Policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Ireland

 

Title: China: How Can Revenue Reforms Contribute to Inclusive and Sustainable Growth?
Author/Editor: Raphael W. Lam ; Philippe Wingender
Series: Working Paper No. 15/66
Date: March 24, 2015
Subject(s): Tax revenues | China | Tax reforms | Fiscal reforms | Inclusive growth | Tax systems

 

Title: Playing by the Rules: Reforming Fiscal Governance in Europe
Author/Editor: Luc Eyraud ; Tao Wu
Series: Working Paper No. 15/67
Date: March 24, 2015
Subject(s): Fiscal policy | European Economic and Monetary Union | Public debt | Fiscal rules | Fiscal reforms | Debt sustainability

 

Title: Sierra Leone: Second Review Under the Extended Credit Facility Arrangement and Financing Assurances Review, and Requests for Augmentation of Access Under the Extended Credit Facility and Debt Relief Under the Catastrophe Containment and Relief Trust-Staff Report; Press Release; and Statement by the Executive Director for Sierra Leone
Series: Country Report No. 15/76
Date: March 24, 2015
Subject(s): Extended Credit Facility | External shocks | Fiscal policy | Borrowing | Debt relief | Emergency assistance | Fiscal reforms | Financial management | Monetary policy | Economic indicators | Letters of Intent | Debt sustainability analysis | Staff Reports | Press releases | Sierra Leone

 

Title: Assessing The Impact Of Fiscal Shocks On Output In MENAP Countries
Author/Editor: Martin D. Cerisola ; Chadi Abdallah ; Victor Davies ; Mark Fischer
Series: Technical Notes and Manuals No.15/1
Date: March 23, 2015

 

Title: Uncertainty and Investment: The Financial Intermediary Balance Sheet Channel
Author/Editor: Sophia Chen
Series: Working Paper No. 15/65
Date: March 20, 2015
Subject(s): Banks | Financial intermediaries | Investment | Balance sheets | Econometric models

 

Title: The Flexible System of Global Models – FSGM
Author/Editor: Michal Andrle ; Patrick Blagrave ; Pedro Espaillat ; Keiko Honjo ; Ben Hunt ; Mika Kortelainen ; René Lalonde ; Douglas Laxton ; Eleonara Mavroeidi ; Dirk Muir ; Susanna Mursula ; Stephen Snudden
Series: Working Paper No. 15/64
Date: March 20, 2015
Subject(s): Economic theory | Demand | Prices | Commodities | Fiscal policy | Monetary policy | Group of Twenty | General equilibrium models

 

Title: Soft Power and Exchange Rate Volatility
Author/Editor: Serhan Cevik ; Richard Harris ; Fatih Yilmaz
Series: Working Paper No. 15/63
Date: March 20, 2015
Subject(s): Exchange rates | Foreign exchange market volatility | Econometric models

 

Title: Estimating Potential Growth in the Middle East and Central Asia
Author/Editor: Pritha Mitra ; Amr Hosny ; Gohar Abajyan ; Mark Fischer
Series: Working Paper No. 15/62
Date: March 20, 2015
Subject(s): Economic growth | Middle East and Central Asia | Economic conditions | Potential output | Total factor productivity | Regional economics

 

Title: Indonesia: Selected Issues
Series: Country Report No. 15/75
Date: March 19, 2015
Subject(s): Commodity markets | Corporate sector | Banking sector | Liquidity | Fiscal risk | Fiscal policy | Debt sustainability | Risk management | Selected Issues Papers | Indonesia

 

Title: Indonesia: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Indonesia
Series: Country Report No. 15/74
Date: March 19, 2015
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Corporate sector | Fiscal reforms | Monetary policy | Bank supervision | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Indonesia

 

Title: The New Normal: A Sector-level Perspective on Productivity Trends in Advanced Economies
Author/Editor: Era Dabla-Norris ; Si Guo ; Vikram Haksar ; Minsuk Kim ; Kalpana Kochhar ; Kevin Wiseman ; Aleksandra Zdzienicka
Series: Staff Discussion Notes No. 15/3
Date: March 18, 2015
Subject(s): Total factor productivity | Labor productivity | Economic growth | Fiscal reforms | Developed countries

 

Title: Saudi Arabia : Tackling Emerging Economic Challenges to Sustain Growth
Author/Editor: Ahmed Al-Darwish ; Naif Alghaith ; Alberto Behar ; Tim Callen ; Pragyan Deb ; Amgad Hegazy ; Padamja Khandelwal ; Malika Pant ; Haonan Qu
Series: Middle East and Central Asia Departmental Paper 15/1
Date: March 18, 2015
Subject(s): Economic growth | Saudi Arabia | Monetary policy | Macroprudential Policy | Fiscal policy | Fiscal rules | Budgets | Oil revenues | Nonoil sector | Oil sector | Commodity markets | Supply and demand | Export diversification

 

Title: The Use and Effectiveness of Macroprudential Policies: New Evidence
Author/Editor: Eugenio Cerutti ; Stijn Claessens ; Luc Laeven
Series: Working Paper No. 15/61
Date: March 17, 2015
Subject(s): Macroprudential Policy | Emerging markets | Developed countries | Procyclicality of financial system | Cross country analysis | Time series

 

Title: Central Banking in Latin America: From the Gold Standard to the Golden Years
Author/Editor: Luis Ignacio Jácome
Series: Working Paper No. 15/60
Date: March 17, 2015
Subject(s): Central banking | Latin America | Central bank role | Monetary policy | Inflation targeting | Economic recession | Financial crises | Cross country analysis

 

Title: Fiscal Decentralization and the Efficiency of Public Service Delivery
Author/Editor: Moussé Sow ; Ivohasina Fizara Razafimahefa
Series: Working Paper No. 15/59
Date: March 17, 2015
Subject(s): Fiscal decentralization | Public services | Expenditure efficiency

 

Title: A Stock-Flow Accounting Model of the Labor Market: An Application to Israel
Author/Editor: Yossi Yakhin ; Natalya Presman
Series: Working Paper No. 15/58
Date: March 16, 2015
Subject(s): Labor markets | Israel | Unemployment | Structural vector autoregression | Econometric models | Time series

 

Title: The Role of Bank Capital in Bank Holding Companies’ Decisions
Author/Editor: Adolfo Barajas ; Thomas F. Cosimano ; Dalia Hakura ; Sebastian Roelands
Series: Working Paper No. 15/57
Date: March 16, 2015
Subject(s): Banks | United States | Bank capital | Panel analysis | Vector autoregression

 

Title: What Can Boost Female Labor Force Participation in Asia?
Author/Editor: Yuko Kinoshita ; Fang Guo
Series: Working Paper No. 15/56
Date: March 16, 2015
Subject(s): Labor force participation | Japan | Korea, Republic of | Norway | Sweden | Asia | Women | Employment | Cross country analysis | Structural vector autoregression | Econometric models

 

Title: Women Workers in India: Why So Few Among So Many?
Author/Editor: Sonali Das ; Sonali Jain-Chandra ; Kalpana Kochhar ; Naresh Kumar
Series: Working Paper No. 15/55
Date: March 16, 2015
Subject(s): Labor force participation | India | Women | Employment | Job creation | Informal sector

 

Title: How Inclusive Is Abenomics?
Author/Editor: Chie Aoyagi ; Giovanni Ganelli ; Kentaro Murayama
Series: Working Paper No. 15/54
Date: March 13, 2015
Subject(s): Inclusive growth | Japan | Income distribution | Income inequality | Fiscal reforms | Labor market reforms | Monetary policy | Inflation targeting

 

Title: Iceland: Selected Issues Paper
Series: Country Report No. 15/73
Date: March 13, 2015
Subject(s): Capital account liberalization | Private savings | Investment | Financial sector | Exchange rates | Housing prices | Fiscal policy | Tourism | Fiscal reforms | Selected Issues Papers | Iceland

 

Title: Iceland: 2014 Article IV Consultation and Fifth Post-Program Monitoring Discussions-Staff Report; Press Release; and Statement by the Executive Director for Iceland
Series: Country Report No. 15/72
Date: March 13, 2015
Subject(s): Article IV consultation reports | Monetary policy | Bank supervision | Fiscal policy | Fiscal reforms | Exchange restrictions | Post-program monitoring | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Iceland

 

Title: Belgium: Selected Issues
Series: Country Report No. 15/71
Date: March 12, 2015
Subject(s): Fiscal consolidation | Housing prices | Unemployment | Fiscal reforms | Pension reforms | Selected Issues Papers | Belgium

 

Title: Belgium: 2015 Article IV Consultation-Staff Report; and Press Release
Series: Country Report No. 15/70
Date: March 12, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Fiscal reforms | Labor market reforms | Pension reforms | Banking sector | Liquidity | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Belgium

 

Title: Ukraine: Request for Extended Arrangement Under the Extended Fund Facility and Cancellation of Stand-By Arrangement-Staff Report; Press Release; and Statement by the Executive Director for Ukraine
Series: Country Report No. 15/69
Date: March 12, 2015
Subject(s): Extended Fund Facility | Monetary policy | Banking sector | Fiscal policy | Energy sector | Fiscal reforms | Economic indicators | Debt sustainability analysis | Letters of Intent | Staff Reports | Press releases | Stand-by arrangement cancellations | Extended arrangement requests | Ukraine

 

Title: Pressing the Indian Growth Accelerator: Policy Imperatives
Author/Editor: Rakesh Mohan ; Muneesh Kapur
Series: Working Paper No. 15/53
Date: March 11, 2015
Subject(s): Economic growth | India | Fiscal policy | Capital account | Savings | Public investment | Infrastructure | Tax revenues | Personal income taxes | Corporate sector | Manufacturing

 

Title: Maldives: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Maldives
Series: Country Report No. 15/68
Date: March 11, 2015
Subject(s): Article IV consultation reports | Economic growth | Tourism | Fiscal policy | Fiscal consolidation | Bank supervision | Economic indicators | Debt sustainability analysis | Millennium Development Goals | Staff Reports | Press releases | Maldives

 

Title: Romania: Fiscal Transparency Evaluation
Series: Country Report No. 15/67
Date: March 11, 2015
Subject(s): Fiscal transparency | Fiscal risk | Risk management | Budgeting | Budgets | Economic forecasting | Reports on the Observance of Standards and Codes | Romania

 

Title: Republic of Armenia: Selected Issues Paper
Series: Country Report No. 15/66
Date: March 11, 2015
Subject(s): Foreign exchange | Dollarization | Exchange rates | Fiscal policy | Selected Issues Papers | Armenia

 

Title: Republic of Armenia: 2014 Article IV Consultation-First Review Under the Extended Arrangement-Staff Report; Staff Supplement; and Press Release
Series: Country Report No. 15/65
Date: March 11, 2015
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Pension reforms | Monetary policy | Exchange rate assessments | Economic indicators | Debt sustainability analysis | Letters of Intent | Staff Reports | Press releases | Extended arrangement reviews | Armenia

 

Title: Niger: Selected Issues
Series: Country Report No. 15/64
Date: March 11, 2015
Subject(s): Fiscal policy | Economic growth | Natural resources | Energy sector | Government expenditures | Public investment | Current account | Financial sector | Selected Issues Papers | Niger

 

Title: Niger: 2014 Article IV Consultation and Fourth and Fifth Reviews Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criteria-Staff Report; Press Release; and Statement by the Executive Director for Niger
Series: Country Report No. 15/63
Date: March 11, 2015
Subject(s): Article IV consultation reports | Fiscal policy | Natural resources | Budgets | Debt management | Economic indicators | Extended Credit Facility | Letters of Intent | Debt sustainability analysis | Staff Reports | Press releases | Performance criteria modifications | Performance criteria waivers | Niger

 

Title: India: Selected Issues Paper
Series: Country Report No. 15/62
Date: March 11, 2015
Subject(s): External shocks | Spillovers | Climatic changes | Fiscal policy | Corporate sector | Women | Labor markets | Exports | Monetary policy | Millennium Development Goals | Selected Issues Papers | India

 

Title: India: 2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for India
Series: Country Report No. 15/61
Date: March 11, 2015
Subject(s): Article IV consultation reports | Fiscal consolidation | Fiscal policy | Fiscal reforms | Banking sector | Monetary policy | Economic indicators | Millennium Development Goals | Staff Reports | Press releases | India

 

Title: Finland: Fiscal Transparency Evaluation
Series: Country Report No. 15/60
Date: March 11, 2015
Subject(s): Fiscal transparency | Fiscal risk | Risk management | Budgeting | Budgets | Economic forecasting | Reports on the Observance of Standards and Codes | Finland

 

Title: How Delaying Fiscal Consolidation Affects the Present Value of GDP
Author/Editor: Kevin Fletcher ; Damiano Sandri
Series: Working Paper No. 15/52
Date: March 5, 2015
Subject(s): Fiscal consolidation | Gross domestic product | Public debt | Fiscal stimulus and multipliers | Econometric models

 

Title: Structural Transformation — How Does Thailand Compare?
Author/Editor: Vladimir Klyuev
Series: Working Paper No. 15/51
Date: March 4, 2015
Subject(s): Labor productivity | Thailand | Agricultural sector | Migrant labor | Nonmetropolitan areas

 

Title: Malaysia: Selected Issues Paper
Series: Country Report No. 15/59
Date: March 3, 2015
Subject(s): Energy sector | Economic growth | Oil prices | Natural gas | Fiscal risk | Debt sustainability | Fiscal reforms | Subsidies | Risk management | Cross country analysis | Economic models | Selected Issues Papers | Malaysia

 

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
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Fiscal reforms | Monetary policy | Nonbank financial sector | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Malaysia

 

Title: South Africa: Financial Sector Assessment Program-Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulation
Series: Country Report No. 15/57
Date: March 3, 2015
Subject(s): Financial Sector Assessment Program | Securities markets | Securities regulations | Reports on the Observance of Standards and Codes | South Africa

 

Title: South Africa: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles
Series: Country Report No. 15/56
Date: March 3, 2015
Subject(s): Financial Sector Assessment Program | Insurance regulations | Insurance supervision | Reports on the Observance of Standards and Codes | South Africa

 

Title: South Africa: Financial Sector Assessment Program-Detailed Assessment of Compliance on the Basel Core Principles for Effective Banking Supervision
Series: Country Report No. 15/55
Date: March 3, 2015
Subject(s): Financial Sector Assessment Program | Banking sector | Basel Core Principles | Bank supervision | Reports on the Observance of Standards and Codes | South Africa

 

Title: South Africa: Financial Sector Assessment Program-Stress Testing the Financial System-Technical Note
Series: Country Report No. 15/54
Date: March 3, 2015
Subject(s): Financial Sector Assessment Program | Banking sector | Insurance | Liquidity | Financial risk | Stress testing | South Africa

 

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
Subject(s): Financial Sector Assessment Program | Financial sector | Financial safety nets | Financial risk | Bank resolution | Bank supervision | Intervention | Deposit insurance | Crisis prevention | Risk management | South Africa

 

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
Subject(s): Financial Sector Assessment Program | Securities markets | Securities regulations | Capital markets | Payment systems | South Africa

 

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
Subject(s): Financial Sector Assessment Program | Anti-money laundering | Combating the financing of terrorism | Financial sector | Financial institutions | Bank supervision | International cooperation | South Africa

 

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