IMF Working Papers by Date


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August 2008
 

Title: Impact of Macroeconomic, Political, and Institutional Factors on the Structure of Government Debt in Emerging Market Countries
Author/Editor: Guscina, Anastasia
Series: Working Paper No. 08/205
Date: August 1, 2008
Subject(s): Emerging markets | Domestic debt | Financial crisis | Political economy | Financial institutions | Financial stability | Interest rates | Inflation | Working Paper
Author's keyword(s): Government debt | emerging markets | original sin | debt structure

 

Title: Foreign Aid and Real Exchange Rate Adjustments in a Financially Constrained Dependent Economy
Author/Editor: Cerra, Valerie ; Tekin, Serpil ; Turnovsky, Stephen J.
Series: Working Paper No. 08/204
Date: August 1, 2008
Subject(s): Working Paper | Aid flows | Real effective exchange rates | Imports | Fiscal policy | External debt | Capital accumulation | Trade | Economic models
Author's keyword(s): Foreign aid; real exchange rate; fiscal policy; debt; capital accumulation; welfare analysis

 

Title: Zero Corporate Income Tax in Moldova: Tax Competition and Its Implications for Eastern Europe
Author/Editor: Piatkowski, Marcin ; Jarmuzek, Mariusz
Series: Working Paper No. 08/203
Date: August 1, 2008
Subject(s): Moldova | Corporate taxes | Tax policy | Competition | Economic integration | Public investment | Tax revenues | Foreign direct investment | Social policy | Working Paper
Author's keyword(s): Tax competition; Corporate Taxes

 

Title: What Drives Household Borrowing and Credit Constraints? Evidence from Bosnia & Herzegovina
Author/Editor: Chen Chen, Ke ; Chivakul, Mali
Series: Working Paper No. 08/202
Date: August 1, 2008
Subject(s): Bosnia and Herzegovina | Credit expansion | Credit restraint | Public debt | Education | Unemployment | Economic conditions | Interest rates | Inflation | Credit policy | Economic models | Working Paper
Author's keyword(s): household debt | credit constraints | Bosnia & Herzegovina

 

Title: Macroeconomic Effects of Pension Reform in Russia
Author/Editor: Hauner, David
Series: Working Paper No. 08/201
Date: August 1, 2008
Subject(s): Russian Federation | Pensions | Economic reforms | Private savings | Tax policy | Public investment | Consumption taxes | Aging | Population | Value added tax | Working Paper
Author's keyword(s): Russia | pension reform | DSGE models.

 

Title: Transmission of Liquidity Shocks: Evidence from the 2007 Subprime Crisis
Author/Editor: Frank, Nathaniel ; González-Hermosillo, Brenda ; Hesse, Heiko
Series: Working Paper No. 08/200
Date: August 1, 2008
Subject(s): Liquidity management | External shocks | Financial crisis | Spillovers | Credit | Banks | Financial institutions | Economic models | Working Paper
Author's keyword(s): Funding liquidity | market liquidity | subprime crisis | GARCH

 

Title: Efficiency Costs of Myanmar’s Multiple Exchange Rate Regime
Author/Editor: Hori, Masahiro ; Ching Wong, Yu
Series: Working Paper No. 08/199
Date: August 1, 2008
Subject(s): Exchange rate regimes | Myanmar | Multiple exchange rates | Exchange markets | Economic models | Trade models | National accounts | Gross domestic product | Exports | Imports | Working Paper
Author's keyword(s): Multiple Exchange Rate | Exchange Rate Unification | Efficiency Analysis

 

Title: Equilibrium Non-Oil Current Account Assessments for Oil Producing Countries
Author/Editor: Thomas, Alun H. ; Kim, Jun Il ; Aslam, Aqib
Series: Working Paper No. 08/198
Date: August 1, 2008
Subject(s): Nonoil sector | Oil producing countries | Current account balances | Oil prices | Exchange rate assessments | Economic models | Working Paper
Author's keyword(s): exchange rate assessment | oil-exporting countries | consumption smoothing

 

Title: The Myth of Post-Reform Income Stagnation: Evidence from Brazil and Mexico
Author/Editor: Carvalho Filho, Irineu E. ; Chamon, Marcos
Series: Working Paper No. 08/197
Date: August 1, 2008
Subject(s): Brazil | Mexico | Data analysis | Economic reforms | Income | Private consumption | Consumer prices | Deflation | Economic models | Economic policy | Working Paper
Author's keyword(s): Household consumption; Measurement error; CPI Bias; Economic reform; Trade liberalization; Inflation stabilization.

 

Title: The Impact of Oil-Related Income on the Equilibrium Real Exchange Rate in Syria
Author/Editor: Hasan, Maher ; Dridi, Jemma
Series: Working Paper No. 08/196
Date: August 1, 2008
Subject(s): Syrian Arab Republic | Real effective exchange rates | Oil production | Oil revenues | Productivity | Government expenditures | Imports | Current account balances | External shocks | Exchange systems | Working Paper
Author's keyword(s): Equilibrium real exchange rate | oil-related income | trade openness | government expenditures | Vector Error Correction Model.

 

Title: Pension Privatization and Country Risk
Author/Editor: Cuevas, Alfredo ; Gonzalez, Maria ; Lombardo, Davide ; López-Marmolejo, Arnoldo
Series: Working Paper No. 08/195
Date: August 1, 2008
Subject(s): Pensions | Privatization | Credit risk | Public debt | Economic models | Social security
Author's keyword(s): Credit Risk | Credit Ratings | Pension Reform | Public Debt | Transition Costs

 

Title: The option-iPoD. The Probability of Default Implied by Option Prices based on Entropy
Author/Editor: Capuano, Christian
Series: Working Paper No. 08/194
Date: August 1, 2008
Subject(s): Credit | Bond markets | Risk management | Financial risk | Financial institutions
Author's keyword(s): endogenous default barrier | cross-entropy | option contracts | volatility smile.

 

Title: Understanding the Inflationary Process in the GCC Region: The Case of Saudi Arabia and Kuwait
Author/Editor: Hasan, Maher ; Alogeel, Hesham
Series: Working Paper No. 08/193
Date: August 1, 2008
Subject(s): Inflation | Saudi Arabia | Kuwait | Money supply | Exchange rate stability | Bilateral trade | Cooperation Council for the Arab States of the Gulf
Author's keyword(s): Inflation | trading partners’ inflation | pass-through effect | demand shocks | excess money supply | error correction model (ECM).

 

Title: Are Emerging Asia’s Reserves Really Too High?
Author/Editor: Ruiz-Arranz, Marta ; Zavadjil, Milan
Series: Working Paper No. 08/192
Date: August 1, 2008
Subject(s): Asia and Pacific | Reserves | Liquidity | Capital inflows | Production | Consumption | External debt | Emerging markets
Author's keyword(s): Foreign exchange reserves | capital flows

 

Title: Monetary Transmission in an Emerging Targeter: The Case of Brazil
Author/Editor: Catão, Luis ; Laxton, Douglas ; Pagan, A. R.
Series: Working Paper No. 08/191
Date: August 1, 2008
Subject(s): Brazil | Monetary policy | Inflation targeting | Emerging markets | Bank credit | Interest rates | Developed countries | Economic models | Disinflation
Author's keyword(s): Monetary Policy | Inflation | Credit Channel | SVAR | Brazil

 

Title: Quality of Financial Sector Regulation and Supervision Around the World
Author/Editor: Cihák, Martin ; Tieman, Alexander F.
Series: Working Paper No. 08/190
Date: August 1, 2008
Subject(s): Financial sector | Bank regulations | Bank supervision | Standards and codes | Financial stability | Financial system stability assessment | Basel Core Principles | Financial Sector Assessment Program
Author's keyword(s): Regulation | supervision | financial stability

 
July 2008
 

Title: Investigating Inflation Dynamics in Sudan
Author/Editor: Moriyama, Kenji
Series: Working Paper No. 08/189
Date: July 1, 2008
Subject(s): Sudan | Inflation | Money supply | Real effective exchange rates | Monetary policy | Economic models
Author's keyword(s): inflation | money supply | nominal exchange rate | and monetary policy.

 

Title: Innovation in Banking and Excessive Loan Growth
Author/Editor: Hardy, Daniel C. L. ; Tieman, Alexander F.
Series: Working Paper No. 08/188
Date: July 1, 2008
Subject(s): Credit demand | Household credit | Bank credit | Loans | Risk management | Economic models
Author's keyword(s): credit screening | loan quality | signaling games | incentive compatibility

 

Title: What Goes Up Must Come Down? House Price Dynamics in the United States
Author/Editor: Klyuev, Vladimir
Series: Working Paper No. 08/187
Date: July 1, 2008
Subject(s): United States | Housing prices
Author's keyword(s): House prices

 

Title: Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?
Author/Editor: Tong, Hui ; Wei, Shang-Jin
Series: Working Paper No. 08/186
Date: July 1, 2008
Subject(s): United States | Consumer credit | Borrowing | Demand | External shocks | Liquidity controls | Financial crisis | Spillovers | Stock prices
Author's keyword(s): liquidity constraint | demand contraction

 

Title: Rising Income Inequality: Technology, or Trade and Financial Globalization?
Author/Editor: Jaumotte, Florence ; Lall, Subir ; Papageorgiou, Chris
Series: Working Paper No. 08/185
Date: July 1, 2008
Subject(s): Income distribution | Globalization | Foreign direct investment | Human capital | Education | Economic models | Trade models
Author's keyword(s): Income inequality | mechanisms | trade globalization | financial globalization | technological progress | FDI.

 

Title: Credit Growth in the Middle East, North Africa, and Central Asia Region
Author/Editor: Crowley, Joe
Series: Working Paper No. 08/184
Date: July 1, 2008
Subject(s): Working Paper | Middle East and Central Asia | North Africa
Author's keyword(s): Credit | Credit Growth | Oil | Oil Inflows

 

Title: Kernel Density Estimation Based on Grouped Data: The Case of Poverty Assessment
Author/Editor: Minoiu, Camelia ; Reddy, Sanjay G.
Series: Working Paper No. 08/183
Date: July 1, 2008
Subject(s): Poverty | Economic models | Income distribution | Data analysis
Author's keyword(s): kernel density estimation | income distribution | grouped data | poverty

 

Title: Technology and Finance
Author/Editor: Ilyina, Anna ; Samaniego, Roberto
Series: Working Paper No. 08/182
Date: July 1, 2008
Subject(s): Technology transfer | External financing | Industrial investment | Investment policy | Development | Production growth
Author's keyword(s): Technology | financial development | external finance dependence | industry growth | R&D intensity | investment lumpiness.

 

Title: Convergence in Emerging Europe: Sustainability and Vulnerabilities
Author/Editor: Vamvakidis, Athanasios
Series: Working Paper No. 08/181
Date: July 1, 2008
Subject(s): Europe | Emerging markets | Transition economies | Balance of payments | Economic growth | Current account balances | External debt
Author's keyword(s): European Economy | Economic Growth | Current Account Adjustment.

 

Title: Bank Recycling of Petro Dollars to Emerging Market Economies During the Current Oil Price Boom
Author/Editor: Wiegand, Johannes
Series: Working Paper No. 08/180
Date: July 1, 2008
Subject(s): Recycling process | Oil producing countries | Oil exports | Capital flows | Emerging markets | Bank credit | International trade
Author's keyword(s): Petro dollars | capital flows | oil exporters | emerging markets | bank lending

 

Title: Germany's Corporate Governance Reforms: Has the System Become Flexible Enough?
Author/Editor: Odenius, Jürgen
Series: Working Paper No. 08/179
Date: July 1, 2008
Subject(s): Germany | Corporate governance | Economic reforms | Securities regulations
Author's keyword(s): Corporate governance | internal control | self-dealing | external control

 

Title: The Impact of Research and Development Tax Incentives on Colombia's Manufacturing Sector: What Difference Do They Make?
Author/Editor: Mercer-Blackman, Valerie
Series: Working Paper No. 08/178
Date: July 1, 2008
Subject(s): Working Paper | Colombia | Tax incentives | Manufacturing sector | Industrial investment | Economic models | Development
Author's keyword(s): Taxes | research and development | Colombia | investment | R&D capital

 

Title: Consumer Confusion: The Choice of AFORE in Mexico
Author/Editor: Calderon-Colin, Roberto ; Dominguez, Enrique E. ; Schwartz, Moises
Series: Working Paper No. 08/177
Date: July 1, 2008
Subject(s): Mexico | Pensions | Pension supervision | Competition | Demand
Author's keyword(s): Pensions | defined contribution | individual accounts | competition | retirement savings | consumer choice | consumer confusion | noise distribution | mark-up.

 

Title: Central Bank Financial Strength and Policy Performance: An Econometric Evaluation
Author/Editor: Klueh, Ulrich H. ; Stella, Peter
Series: Working Paper No. 08/176
Date: July 1, 2008
Subject(s): Working Paper
Author's keyword(s): Central bank capital | central bank independence | inflation

 

Title: Inflation Smoothing and the Modest Effect of VAT in Germany
Author/Editor: Carare, Alina ; Danninger, Stephan
Series: Working Paper No. 08/175
Date: July 1, 2008
Subject(s): Germany | Inflation | Value added tax | Price increases | Competition
Author's keyword(s): Inflation | VAT

 

Title: A Framework for Developing Secondary Markets for Government Securities
Author/Editor: Árvai, Zsófia ; Heenan, Geoffrey
Series: Working Paper No. 08/174
Date: July 1, 2008
Subject(s): Securities markets | Government finance statistics | Capital markets | Public debt | Monetary policy | Fiscal policy
Author's keyword(s): Capital markets | government securities | market development

 

Title: Determinants of Foreign Currency Borrowing in the New Member States of the EU
Author/Editor: Rosenberg, Christoph B. ; Tirpák, Marcel
Series: Working Paper No. 08/173
Date: July 1, 2008
Subject(s): Europe | European Union | External borrowing | Private sector | Foreign investment | Exchange rate regimes | Euro
Author's keyword(s): Foreign currency borrowing | new EU member states | Central and Eastern Europe

 

Title: Africa's Oil Abundance and External Competitiveness: Do Institutions Matter?
Author/Editor: Qureshi, Mahvash Saeed
Series: Working Paper No. 08/172
Date: July 1, 2008
Subject(s): Sub-Saharan Africa | Oil producing countries | Oil exporting countries | Competition | Financial institutions | Terms of trade | Export diversification | Foreign investment
Author's keyword(s): oil abundance | competitiveness | institutions | gravity model | sub-Saharan Africa

 

Title: The ECB’s Monetary Analysis Revisited
Author/Editor: Berger, Helge ; Harjes, Thomas ; Stavrev, Emil
Series: Working Paper No. 08/171
Date: July 1, 2008
Subject(s): European Central Bank | Monetary policy | Central bank policy | Economic models | Asset prices | Consumer prices | Financial sector | Money
Author's keyword(s): ECB | monetary analysis | monetary pillar | New Keynesian model | DSGE model | P* model | Two-pillar Phillips curve | VAR model | generalized dynamic factor model

 

Title: Natural Resource Endowments, Governance, and the Domestic RevenueEffort: Evidence from a Panel of Countries
Author/Editor: Bornhorst, Fabian ; Gupta, Sanjeev ; Thornton, John
Series: Working Paper No. 08/170
Date: July 1, 2008
Subject(s): Hydrocarbons | Revenues | Oil revenues | Taxation | Governance | Corruption
Author's keyword(s): hydrocarbon revenues; domestic revenue effort; governance

 

Title: Credit Matters: Empirical Evidence on U.S. Macro-Financial Linkages
Author/Editor: Bayoumi, Tamim ; Melander, Ola
Series: Working Paper No. 08/169
Date: July 1, 2008
Subject(s): United States | Credit | External shocks | Capital markets | Asset ratio | Consumer credit | Corporate sector | Loans | Gross domestic product
Author's keyword(s): Macro-Financial | Credit | Lending Standards | Bank Capital | Financial Accelerator

 

Title: The Distributional Impact of Fiscal Policy in Honduras
Author/Editor: Gillingham, Robert ; Newhouse, David Locke ; Yackovlev, Irene
Series: Working Paper No. 08/168
Date: July 1, 2008
Subject(s): Honduras | Fiscal policy | Tax policy | Subsidies | Health care | Pensions | Education
Author's keyword(s): Tax policy | expenditure policy | subsidies | welfare distribution | household survey data

 

Title: Do the Gulf Oil-Producing Countries Influence Regional Growth? the Impact of Financial and Remittance Flows
Author/Editor: Ilahi, Nadeem ; Shendy, Riham
Series: Working Paper No. 08/167
Date: July 1, 2008
Subject(s): Middle East | Oil producing countries | Cooperation Council for the Arab States of the Gulf | Economic growth | Capital flows | Gross domestic product | Private consumption | Private investment | Outward remittances | Regional shocks | Oil prices | Capital markets | Business cycles | Emerging markets
Author's keyword(s): Business cycle | emerging markets | growth linkages | North | South | Middle East | GCC | regional linkage | decoupling | divergence | convergence | remittances | capital flows.

 

Title: The Information Content of Money in Forecasting Euro Area Inflation
Author/Editor: Berger, Helge ; Stavrev, Emil
Series: Working Paper No. 08/166
Date: July 1, 2008
Subject(s): Working Paper | Euro Area | Money | Inflation | Forecasting models | Monetary policy | Economic models
Author's keyword(s): Information content of money | inflation forecasting | New Keynesian model | DSGE model | P* model | Two-pillar Phillips curve | VAR model | general dynamic factor model | Bayesian estimation | euro area

 

Title: Reforming Government Subsidies in the New Member States of the European Union
Author/Editor: Mulas-Granados, Carlos ; Koranchelian, Taline ; Segura-Ubiergo, Alex
Series: Working Paper No. 08/165
Date: July 1, 2008
Subject(s): Working Paper | European Union | Subsidies | Economic reforms | Agricultural subsidies | Industrial subsidies
Author's keyword(s): European Union | new member states |