Title: Bank Efficiency and Competition in Low-Income Countries: The Case of Uganda
Author/Editor: Hauner, David ; Peiris, Shanaka J.
Series: Working Paper No. 05/240
Date: December 1, 2005
Subject(s): Banks | Competition | Data analysis | Economic models | Uganda
Author's keyword(s): Banks | Competition | Efficiency | Data Envelopment Analysis

Title: Service Offshoring, Productivity, and Employment: Evidence from the United States
Author/Editor: Amiti, Mary ; Wei, Shang-Jin
Series: Working Paper No. 05/238
Date: December 1, 2005
Subject(s): Productivity | United States | Employment | Labor | Manufacturing sector | Economic models
Author's keyword(s): Outsourcing | services | employment | productivity

Title: Money Demand and Inflation in Madagascar
Author/Editor: Ben Nassar, Koffie
Series: Working Paper No. 05/236
Date: December 1, 2005
Subject(s): Demand for money | Madagascar | Inflation | Prices | Money markets | Exchange rates | Interest rates | Economic models
Author's keyword(s): Money demand | inflation | exchange rate | Madagascar

Title: Remittances, Financial Development, and Growth
Author/Editor: Giuliano, Paola ; Ruiz-Arranz, Marta
Series: Working Paper No. 05/234
Date: December 1, 2005
Subject(s): Workers remittances | Financial systems | Economic growth | Investment
Author's keyword(s): Remittances | financial development | growth | investment; system GMM

Title: FIRST: A Market-Based Approach to Evaluate Financial System Risk and Stability
Author/Editor: Avesani, Renzo G.
Series: Working Paper No. 05/232
Date: December 1, 2005
Subject(s): Financial risk | Markets | Credit | Financial institutions | Financial stability | Global financial stability report | Financial systems
Author's keyword(s): Market risk | Credit risk | Large Complex Financial Institutions | Financial Stability

Title: Financial Sector Conditionality: Is Tougher Better?
Author/Editor: Giustiniani, Alessandro ; Kronenberg, Roger P.
Series: Working Paper No. 05/230
Date: December 1, 2005
Subject(s): Conditionality | Fund | Financial sector
Author's keyword(s): Conditionality | financial sectors

Title: Long-Run Productivity Shifts and Cyclical Fluctuations: Evidence for Italy
Author/Editor: Sgherri, Silvia
Series: Working Paper No. 05/228
Date: December 1, 2005
Subject(s): Productivity | Italy | Business cycles | Economic models
Author's keyword(s): Productivity growth | business cycle | unobserved components models; filtering.

Title: Assessing Debt Sustainability in Emerging Market Economies Using Stochastic Simulation Methods
Author/Editor: Hostland, Doug ; Karam, Philippe D
Series: Working Paper No. 05/226
Date: December 1, 2005
Subject(s): Debt | Emerging markets | Risk premium | Fiscal policy | Fiscal management | Capital flows | Economic models
Author's keyword(s): Debt sustainability | risk measures | fiscal rule

Title: Macroeconomic Determinants of Remittances: Evidence from India
Author/Editor: Gupta, Poonam
Series: Working Paper No. 05/224
Date: December 1, 2005
Subject(s): Workers remittances | India | Balance of payments
Author's keyword(s): Remittances | balance of payments | India

Title: Monitoring and Commitment in Bank Lending Behavior
Author/Editor: Blavy, Rodolphe
Series: Working Paper No. 05/222
Date: November 1, 2005
Subject(s): Banking | Bank credit | Bank supervision
Author's keyword(s): Bank | credit | monitoring | commitment | asymmetry of information

Title: Barriers to Capital Accumulation and the Incidence of Child Labor
Author/Editor: Barnett, Richard C. ; Espinosa-Vega, Marco
Series: Working Paper No. 05/220
Date: November 1, 2005
Subject(s): Capital accumulation | Poverty | Labor | Gross domestic product
Author's keyword(s): Barriers to capital accumulation | child labor

Title: VAT Refunds: A Review of Country Experience
Author/Editor: Harrison, Graham ; Krelove, Russell
Series: Working Paper No. 05/218
Date: November 1, 2005
Subject(s): Value added tax
Author's keyword(s): VAT | VAT refund | refund claim | VAT audit

Title: Pricing Growth-Indexed Bonds
Author/Editor: Chamon, Marcos ; Mauro, Paolo
Series: Working Paper No. 05/216
Date: November 1, 2005
Subject(s): Emerging markets | Bonds | Pricing policy
Author's keyword(s): Emerging markets; GDP-Indexed bonds; Monte-Carlo simulation

Title: The Impact on India of Trade Liberalization in the Textiles and Clothing Sector
Author/Editor: Jain-Chandra, Sonali ; Prasad, A.
Series: Working Paper No. 05/214
Date: November 1, 2005
Subject(s): Trade liberalization | India | Exports | Economic models | Textiles
Author's keyword(s): India | Agreement on Textiles and Clothing | MFA | GTAP | CGE models

Title: Financial Globalization and Fiscal Perfomance in Emerging Markets
Author/Editor: Hauner, David ; Kumar, Manmohan S.
Series: Working Paper No. 05/212
Date: November 1, 2005
Subject(s): Emerging markets | Fiscal reforms | Fiscal management | Globalization | Interest rate differential | Financial stability
Author's keyword(s): Emerging markets | fiscal performance | global imbalances | interest rate spreads

Title: Does Performance Budgeting Work? An Analytical Review of the Empirical Literature
Author/Editor: Robinson, Marc ; Brumby, Jim ; International Monetary Fund. Fiscal Affairs Dept.
Series: Working Paper No. 05/210
Date: November 1, 2005
Subject(s): Budgeting | Public sector | Resource allocation
Author's keyword(s): Performance budgeting | performance measures

Title: Macroeconomic Effects of Social Security and Tax Reform in the United States
Author/Editor: Bayoumi, Tamim ; Botman, Dennis P. J. ; Kumar, Manmohan S.
Series: Working Paper No. 05/208
Date: November 1, 2005
Subject(s): Fiscal management | United States | Social security | Tax reforms | Economic models
Author's keyword(s): Personal retirement accounts | fiscal consolidation | tax reform | global fiscal model

Title: Strengthening IMF Crisis Prevention
Author/Editor: Ostry, Jonathan David ; Zettelmeyer, Jeromin
Series: Working Paper No. 05/206
Date: November 1, 2005
Subject(s): Fund | Crisis prevention | Exchange rate policy surveillance
Author's keyword(s): International Monetary Fund | crisis prevention | IMF surveillance

Title: Can the Standard International Business Cycle Model Explain the Relation Between Trade and Comovement?
Author/Editor: Kose, M. Ayhan ; Yi, Kei-Mu
Series: Working Paper No. 05/204
Date: October 1, 2005
Subject(s): Business cycles | International trade
Author's keyword(s): International trade | international business cycle comovement

Title: Estimating China's "Equilibrium" Real Exchange Rate
Author/Editor: Li, Xiangming ; Dunaway, Steven Vincent
Series: Working Paper No. 05/202
Date: October 1, 2005
Subject(s): China | Exchange rates | Foreign exchange | Purchasing power parity
Author's keyword(s): Exchange rates | foreign exchange

Title: Boom-Bust Cycles in Housing: The Changing Role of Financial Structure
Author/Editor: Schnure, Calvin
Series: Working Paper No. 05/200
Date: October 1, 2005
Subject(s): Financial sector | Financial stability | Housing
Author's keyword(s): Mortgage markets | housing prices | securitization

Title: International Reserves: Precautionary vs. Mercantilist Views, Theory, and Evidence
Author/Editor: Aizenman, Joshua ; Lee, Jaewoo
Series: Working Paper No. 05/198
Date: October 1, 2005
Subject(s): Foreign exchange reserves | Financial crisis | Demand | Capital account | Economic models
Author's keyword(s): International reserves | precautionary demand | mercantilist | financial crises

Title: Introducing financial Management Information Systems in Developing Countries
Author/Editor: Diamond, Jack ; Khemani, Pokar ; International Monetary Fund. Fiscal Affairs Dept.
Series: Working Paper No. 05/196
Date: October 1, 2005
Subject(s): Financial systems | Developing countries | Government expenditures

Title: Social Welfare and Cost Recovery in Two-Sided Markets
Author/Editor: Bolt, Wilko ; Tieman, Alexander F. ; International Monetary Fund. Monetary and Financial Systems Dept.
Series: Working Paper No. 05/194
Date: October 1, 2005
Subject(s): Markets | Price structures | Tariffs | Economic models
Author's keyword(s): Two-sided markets | social optimum | cost recovery | operational losses

Title: Is Russia Still Driving Regional Economic Growth?
Author/Editor: Shiells, Clinton R. ; Pani, Marco ; Jafarov, Etibar
Series: Working Paper No. 05/192
Date: October 1, 2005
Subject(s): Economic growth | Russian Federation | Baltics | Trade | Production
Author's keyword(s): Economic growth | Russia | CIS | Baltics

Title: Investment Restrictions and Contagion in Emerging Markets
Author/Editor: Ilyina, Anna
Series: Working Paper No. 05/190
Date: September 1, 2005
Subject(s): Investment | Emerging markets | Economic models
Author's keyword(s): Investment restrictions | contagion | emerging markets

Title: Managing Systemic Liquidity Risk in Financially Dollarized Economies
Author/Editor: Ize, Alain ; Kiguel, Miguel A. ; Levy Yeyati, Eduardo ; International Monetary Fund. Monetary and Financial Systems Dept.
Series: Working Paper No. 05/188
Date: September 1, 2005
Subject(s): Dollarization | Liquidity | Financial crisis | Bank soundness | Banking systems
Author's keyword(s): Dollarization | systemic liquidity | banking crises

Title: Financial Dollarization Equilibria: A Framework for Policy Analysis
Author/Editor: Ize, Alain ; International Monetary Fund. Monetary and Financial Systems Dept.
Series: Working Paper No. 05/186
Date: September 1, 2005
Subject(s): Dollarization | Monetary policy | Financial crisis | Credit | Risk premium | Economic models
Author's keyword(s): Dollarization | monetary policy | credit risk

Title: Post-Transition Investment Behavior in Poland: A Sectoral Panel Analysis
Author/Editor: Murgasova, Zuzana
Series: Working Paper No. 05/184
Date: September 1, 2005
Subject(s): Investment | Poland | Data analysis
Author's keyword(s): Poland | sectoral panel analysis | determinants of investment

Title: European Union Enlargement and Equity Markets in Accession Countries
Author/Editor: Dvorák, Tomás ; Podpiera, Richard
Series: Working Paper No. 05/182
Date: September 1, 2005
Subject(s): European Union | Asset prices | Stock markets
Author's keyword(s): Asset pricing | international financial integration | EU enlargement

Title: Pity the Finance Minister: Issues in Managing a Substantial Scaling-Up of Aid Flows
Author/Editor: Heller, Peter S.
Series: Working Paper No. 05/180
Date: September 1, 2005
Subject(s): Development assistance | Fiscal policy | Financial institutions | Aid flows
Author's keyword(s): Foreign aid | fiscal policy | Dutch Disease | Aid donors

Title: How Useful Is Monetary Econometrics in Low-Income Countries? The Case of Money Demand and the Multipliers in Rwanda
Author/Editor: Hauner, David ; Di Bella, Gabriel ; International Monetary Fund. African Dept.
Series: Working Paper No. 05/178
Date: September 1, 2005
Subject(s): Demand for money | Rwanda | Monetary policy | Economic models
Author's keyword(s): Money demand | money multiplier | Rwanda

Title: Explicit and Implicit Targets in Open Economies
Author/Editor: Sgherri, Silvia ; International Monetary Fund. European Dept.
Series: Working Paper No. 05/176
Date: September 1, 2005
Subject(s): Inflation targeting | Interest rate policy | Exchange rates | Monetary policy
Author's keyword(s): Inflation targeting | interest rate rules | exchange rates | monetary policy

Title: Subordinated Levy Processes and Applications to Crude Oil Options
Author/Editor: Krichene, Noureddine ; International Monetary Fund. African Dept.
Series: Working Paper No. 05/174
Date: September 1, 2005
Subject(s): Economic models | Oil pricing policy | Risk premium
Author's keyword(s): Levy processes | Characteristic functions | Esscher transform | Fourier transform | Option pricing | Inverse problem | Risk-neutral density | volatility

Title: 'Inflation Targeting Lite' in Small Open Economies: The Case of Mauritius
Author/Editor: Yao, James Y. ; Porter, Nathaniel John ; International Monetary Fund. African Dept. ; International Monetary Fund. Finance Dept.
Series: Working Paper No. 05/172
Date: September 1, 2005
Subject(s): Economic models | Exchange rate management | Exchange rate regimes | Inflation targeting | Mauritius
Author's keyword(s): Inflation targeting; small open economies; managed exchange rates

Title: Financial Development, Financial Fragility, and Growth
Author/Editor: Loayza, Norman ; Ranciere, Romain ; International Monetary Fund. Research Dept.
Series: Working Paper No. 05/170
Date: August 1, 2005
Subject(s): Financial crisis | Economic growth
Author's keyword(s): Growth empirics | banking crisis | pooled mean group estimation

Title: Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework
Author/Editor: Catalán, Mario ; Ganapolsky, Eduardo J.J.
Series: Working Paper No. 05/168
Date: August 1, 2005
Subject(s): Bank regulations | Banks | Business cycles | Capital | Deposit insurance | Economic models | Reserve requirements
Author's keyword(s): Capital requirements | business cycles | regulation | deposit insurance

Title: Access to Bank Credit in Sub-Saharan Africa: Key Issues and Reform Strategies
Author/Editor: Sacerdoti, Emilio ; International Monetary Fund. Monetary and Financial Systems Dept.
Series: Working Paper No. 05/166
Date: August 1, 2005
Subject(s): Bank credit | Banking systems | Credit controls | Credit restraint | Interest rates | Private sector | Sub-Saharan Africa
Author's keyword(s): Banking systems; sub-Saharan Africa

Title: Real Exchange Rate Misalignment: A Panel Co-Integration and Common Factor Analysis
Author/Editor: Dufrénot, Gilles J. ; Yehoue, Etienne B. ; IMF Institute
Series: Working Paper No. 05/164
Date: August 1, 2005
Subject(s): Developing countries | Economic models | Exchange rate realignments | Real effective Exchange rates
Author's keyword(s): Real Exchange Rate Misalignment | Panel Co-integration | Common Factor | Developing countries

Title: U.S. Mutual Fund Retail Investors in International Equity Markets: Is the Tail Wagging the Dog?
Author/Editor: Chan-Lau, Jorge A. ; Ong, Li L.
Series: Working Paper No. 05/162
Date: August 1, 2005
Subject(s): Capital flows | Emerging markets | Investment policy | Stock markets | United States
Author's keyword(s): Mutual funds | retail investors | equity markets | dedicated funds | crossover funds

Title: What Causes Firms to Hide Output? The Determinants of Informality
Author/Editor: Dabla-Norris, Era ; Gradstein, Mark ; Inchauste, Gabriela
Series: Working Paper No. 05/160
Date: August 1, 2005
Subject(s): Economic models | Production
Author's keyword(s): Informal sector | determinants | institution

Title: Why Is Micro Evidence on the Effects of Uncertainty Not Replicated In Macro Data?
Author/Editor: Bond, Stephen ; Lombardi, Domenico
Series: Working Paper No. 05/158
Date: August 1, 2005
Subject(s): Data analysis | Data collection | Economic models | Investment | United Kingdom
Author's keyword(s): Aggregation | investment | uncertainty

Title: Forestry Taxation in Africa: The Case of Liberia
Author/Editor: Schwidrowski, Arnim ; Thomas, Saji
Series: Working Paper No. 05/156
Date: August 1, 2005
Subject(s): Taxation | Liberia | Agriculture | Forestry
Author's keyword(s): Forestry | taxation | Africa | Liberia

Title: Managing Revenue Volatility in a Small Island Economy: The Case of Kiribati
Author/Editor: Purfield, Catriona
Series: Working Paper No. 05/154
Date: August 1, 2005
Subject(s): Fiscal policy | Kiribati | Revenue sources | Revenues
Author's keyword(s): Volatility | fiscal policy rules | sustainability | Kiribati

Title: An Anatomy of Corporate Bond Markets: Growing Pains and Knowledge Gains
Author/Editor: Luengnaruemitchai, Pipat ; Ong, Li L.
Series: Working Paper No. 05/152
Date: July 1, 2005
Subject(s): Bond markets | Credit | Debt | Emerging markets | Governance
Author's keyword(s): Benchmark | corporate debt | credit pricing | emerging markets | governance | mature markets | regulation

Title: Infrastructure Aid, Deindustrialization, and Welfare
Author/Editor: Choi, Eun Kwan
Series: Working Paper No. 05/150
Date: July 1, 2005
Subject(s): Infrastructure | Development assistance | Industrialization | Economic models
Author's keyword(s): Infrastructure aid | deindustrialization | Dutch disease

Title: The Use and Abuse of Taylor Rules: How Precisely Can We Estimate Them?
Author/Editor: Carare, Alina ; Tchaidze, Robert
Series: Working Paper No. 05/148
Date: July 1, 2005
Subject(s): Central banks | Monetary policy | Economic models
Author's keyword(s): Central bank | monetary policy | taylor rules

Title: Trade Liberalization, Intermediate Inputs, and Productivity: Evidence from Indonesia
Author/Editor: Amiti, Mary ; Konings, Jozef
Series: Working Paper No. 05/146
Date: July 1, 2005
Subject(s): Tariffs | Indonesia | Trade liberalization | Productivity | Economic models
Author's keyword(s): Tariffs | inputs | productivity

Title: Money Demand and Inflation in Dollarized Economies: The Case of Russia
Author/Editor: Oomes, Nienke ; Ohnsorge, Franziska
Series: Working Paper No. 05/144
Date: July 1, 2005
Subject(s): Demand for money | Russian Federation | Inflation | Dollarization | Currency substitution
Author's keyword(s): Money demand | inflation | dollarization | currency substitution | Russia

Title: Tax Systems under Fiscal Adjustment: A Dynamic CGE Analysis of the Brazilian Tax Reform
Author/Editor: Lledo, Victor Duarte
Series: Working Paper No. 05/142
Date: July 1, 2005
Subject(s): Tax reforms | Brazil | Fiscal reforms | Economic models
Author's keyword(s): Tax reform | fiscal adjustment | computable general equilibrium | Brazil

Title: Global Aging and Fiscal Policy with International Labor Mobility: A Political Economy Perspective
Author/Editor: Tosun, Mehmet S.
Series: Working Paper No. 05/140
Date: July 1, 2005
Subject(s): Population | Aging | Fiscal policy | Labor mobility | Capital flows | Economic models | Political economy
Author's keyword(s): Population aging | overlapping generations | endogenous fiscal policy | international labor mobility | international capital mobility

Title: U.S. Tax Reform: An Overview of the Current Debate and Policy Options
Author/Editor: Dalsgaard, Thomas
Series: Working Paper No. 05/138
Date: July 1, 2005
Subject(s): Consumption taxes | Income taxes | Sales taxes | Tax reforms | United States
Author's keyword(s): Consumption tax; income tax; flat tax; national retail sales tax; dual income tax; book-tax; alternative minimum tax; estate tax

Title: Liberalization, Prudential Supervision, and Capital Requirements: The Policy Trade-Offs
Author/Editor: Ribakova, Elina
Series: Working Paper No. 05/136
Date: July 1, 2005
Subject(s): Bank supervision | Capital | Financial systems | Financial stability | Financial crisis | Economic models
Author's keyword(s): Moral hazard | prudential supervision | liberalization | banking completition | capital requirements | franchise value

Title: Wage Flexibility in Turbulent Times: A Practitioner's Guide
Author/Editor: Yamaguchi, Shintaro
Series: Working Paper No. 05/134
Date: July 1, 2005
Subject(s): Wages | Poland | Europe | Labor markets | Wage adjustments
Author's keyword(s): Wage flexibility | labor markets | Central and Eastern Europe | Poland

Title: Capital Account Liberalization and the Real Exchange Rate in Chile
Author/Editor: LeFort-Varela, Guillermo R.
Series: Working Paper No. 05/132
Date: June 1, 2005
Subject(s): Capital account liberalization | Chile | Real effective exchange rates | Foreign exchange | Intervention | Reserve requirements | Capital flows

Title: On the Implementation of Transfers to Subnational Governments
Author/Editor: Ahmad, Ehtisham ; Searle, Bob
Series: Working Paper No. 05/130
Date: June 1, 2005
Subject(s): Intergovernmental fiscal relations | Loans
Author's keyword(s): Intergovernmental Fiscal Relations | Grants

Title: Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania, and Ukraine
Author/Editor: Duenwald, Christoph ; Gueorguiev, Nikolay ; Schaechter, Andrea
Series: Working Paper No. 05/128
Date: June 1, 2005
Subject(s): Transition economies | Bulgaria | Romania | Ukraine | Credit
Author's keyword(s): Credit boom | financial deepening | transition | Bulgaria | Romania | Ukraine

Title: What Undermines Aid's Impact on Growth?
Author/Editor: Rajan, Raghuram ; Subramanian, Arvind
Series: Working Paper No. 05/126
Date: June 1, 2005
Subject(s): Development assistance | Economic growth | Export competitiveness
Author's keyword(s): Aid | growth | competitiveness

Title: Regional Financial Conglomerates: A Case for Improved Supervision
Author/Editor: Majaha-Jartby, Julia ; Olafsson, Thordur
Series: Working Paper No. 05/124
Date: June 1, 2005
Subject(s): Bank Supervision | Bonds | Debt management | Debt restructuring | Financial crisis
Author's keyword(s): Supervision | Large and Complex Regional Financial Conglomerates | Crisis Management

Title: Regional Integration of Stock Exchanges in Eastern and Southern Africa: Progress and Prospects
Author/Editor: Irving, Jacqueline
Series: Working Paper No. 05/122
Date: June 1, 2005
Subject(s): Africa | International capital markets | Stock markets
Author's keyword(s): Africa | capital markets development | regional integration

Title: Deficit Limits, Budget Rules and Fiscal Policy
Author/Editor: Manasse, Paolo
Series: Working Paper No. 05/120
Date: June 1, 2005
Subject(s): Fiscal management | Budget deficits | Economic growth | Economic stabilization | Economic policy | Economic models
Author's keyword(s): Fiscal rules | stabilization policy | deficit limits | groth and stability pact

Title: Pace and Sequencing of Economic Policies
Author/Editor: Zalduendo, Juan
Series: Working Paper No. 05/118
Date: June 1, 2005
Subject(s): Economic growth | Economic policy
Author's keyword(s): Growth | Economic Policy

Title: Does the World Need a Universal Financial Institution?
Author/Editor: Boughton, James M.
Series: Working Paper No. 05/116
Date: June 1, 2005
Subject(s): Emerging markets | Financial institutions | Fund | Fund role | Low-income developing countries
Author's keyword(s): IMF | international financial institution | low-income countries | emerging markets

Title: Latin American Central Bank Reform: Progress and Challenges
Author/Editor: Carstens, Agustin ; Jácome H., Luis Ignacio
Series: Working Paper No. 05/114
Date: June 1, 2005
Subject(s): Inflation | Latin America | Bank reforms | Monetary policy
Author's keyword(s): Central bank independence | inflation | monetary policy | Latin America

Title: Tax Revenue and (or?) Trade Liberalization
Author/Editor: Baunsgaard, Thomas ; Keen, Michael
Series: Working Paper No. 05/112
Date: June 1, 2005
Subject(s): Tax reforms | Trade liberalization
Author's keyword(s): Tax reform | trade reform

Title: Foreign Direct Investment in Southeastern Europe: How (and How Much) Can Policies Help?
Author/Editor: Demekas, Dimitri G. ; Horváth, Balázs ; Ribakova, Elina ; Wu, Yi
Series: Working Paper No. 05/110
Date: June 1, 2005
Subject(s): Foreign direct investment | Europe | Transition economies
Author's keyword(s): Foreign direct investment | Southeastern Europe | transition economies

Title: Subnational Public Financial Management: Institutions and Macroeconomic Considerations
Author/Editor: Ahmad, Ehtisham ; Albino-War, Maria A ; Singh, Raju
Series: Working Paper No. 05/108
Date: June 1, 2005
Subject(s): Intergovernmental fiscal relations | Economic models
Author's keyword(s): Intergovernmental fiscal relations

Title: Underlying Factors Driving Fiscal Effort in Emerging Market Economies
Author/Editor: Abiad, Abdul ; Baig, Taimur
Series: Working Paper No. 05/106
Date: June 1, 2005
Subject(s): Public debt | Emerging markets | Fiscal policy | Economic models
Author's keyword(s): Public debt | fiscal balance | fiscal sustainability

Title: Reforming the Russian Budget System: A Move to More Devolved Budget Management?
Author/Editor: Diamond, Jack
Series: Working Paper No. 05/104
Date: May 1, 2005
Subject(s): Debt Management | Russian Federation | Budgetary policy
Author's keyword(s): Budget Reform | Performance Budgeting | Russia

Title: Outsourcing Tariff Evasion: A New Explanation for Entrepot Trade
Author/Editor: Fisman, Raymond ; Moustakerski, Peter ; Wei, Shang-Jin
Series: Working Paper No. 05/102
Date: May 1, 2005
Subject(s): Tax evasion | Tariffs | Trade | Corruption
Author's keyword(s): Tax evasion | Indirect Trade | Corruption

Title: Does Foreign Aid Reduce Poverty? Empirical Evidence from Nongovernmental and Bilateral Aid
Author/Editor: Masud, Nadia ; Yontcheva, Boriana
Series: Working Paper No. 05/100
Date: May 1, 2005
Subject(s): Bilateral aid | Multilateral aid | Official Development assistance | Poverty reduction | Economic models
Author's keyword(s): Official Development Aid | NGOs | Panel Data Econometrics

Title: Are Emerging Market Countries Learning to Float?
Author/Editor: Hakura, Dalia
Series: Working Paper No. 05/98
Date: May 1, 2005
Subject(s): Emerging markets | Developed countries | Floating exchange rates | Monetary policy
Author's keyword(s): Learning to float | emerging markets | monetary and financial policy frameworks

Title: Cross-Country Empirical Studies of Systemic Bank Distress: A Survey
Author/Editor: Demirgüç-Kunt, Asli ; Detragiache, Enrica
Series: Working Paper No. 05/96
Date: May 1, 2005
Subject(s): Financial crisis | Banking | Insolvency | Bank resolution | Economic models
Author's keyword(s): Banking crises | financial fragility

Title: Regional Trade Integration and WTO Accession: Which is the Right Sequencing? An Application to the CIS
Author/Editor: Tumbarello, Patrizia
Series: Working Paper No. 05/94
Date: May 1, 2005
Subject(s): Trade Relations | Armenia | Azerbaijan | Georgia | Kyrgyz Republic | Moldova | Tajikistan | Uzbekistan | World Trade Organization | Trade liberalization | Trade integration
Author's keyword(s): Trade Liberalization; CIS

Title: How does Employment Protection Legislation Affect Unemployment in Tunisia? A Search Equilibrium Approach
Author/Editor: Koranchelian, Taline ; Fanizza, Domenico
Series: Working Paper No. 05/92
Date: May 1, 2005
Subject(s): Employment | Tunisia | Unemployment | Labor markets | wages
Author's keyword(s): Firing restrictions | job search | matching model | Tunisia | unemployment

Title: Is the Middle East and North Africa Region Achieving Its Trade Potential?
Author/Editor: Söderling, Ludvig
Series: Working Paper No. 05/90
Date: May 1, 2005
Subject(s): Trade | Middle East | North Africa | Algeria | Egypt | Jordan | Morocco | Syrian Arab Republic | Tunisia | Oil | Economic models
Author's keyword(s): Middle East and North Africa | Association Agreement | trade | trade potential | gravity model | Algeria | Egypt | Jordan | Morocco | Syria | Tunisia

Title: Insurance Companies in Emerging Markets
Author/Editor: Kong, Janet ; Singh, Manmohan
Series: Working Paper No. 05/88
Date: May 1, 2005
Subject(s): Insurance | Emerging markets | Liquidity | Financial crisis | Investment | Asset prices
Author's keyword(s): Insurance companies | emerging markets | asset allocation | investments

Title: Following Germany's Lead: Using International Monetary Linkages to Identify the Effect of Monetary Policy on the Economy
Author/Editor: di Giovanni, Julian ; McCrary, Justin ; von Wachter, Till
Series: Working Paper No. 05/86
Date: April 1, 2005
Subject(s): Monetary policy | Germany | Fund | Interest rates
Author's keyword(s): Monetary policy | forward looking bias | instrumental variables

Title: The IMF in a World of Private Capital Markets
Author/Editor: Eichengreen, Barry J. ; Kletzer, Kenneth ; Mody, Ashoka
Series: Working Paper No. 05/84
Date: April 1, 2005
Subject(s): Private sector | Access to capital markets | Fund-supported adjustment programs | Bonds
Author's keyword(s): IMF programs | signaling | capital market access

Title: Net Foreign Asset Positions and Consumption Dynamics in the International Economy
Author/Editor: Ghironi, Fabio ; Iscan, Talan B. ; Rebucci, Alessandro
Series: Working Paper No. 05/82
Date: April 1, 2005
Subject(s): Terms of trade | International trade | Consumption | Productivity | Economic models
Author's keyword(s): Net foreign assets | consumption | consumption tilting | productivity

Title: Transparency in Central Bank Financial Statement Disclosures
Author/Editor: Sullivan, Kenneth
Series: Working Paper No. 05/80
Date: April 1, 2005
Subject(s): Central banks | Transparency | Bank accounting
Author's keyword(s): Central Bank | financial statements | disclosure | transparency | IAS

Title: Managing the Interest Rate Risk of Indian Banks' Government Securities Holdings
Author/Editor: Sy, Amadou N. R.
Series: Working Paper No. 05/78
Date: April 1, 2005
Subject(s): Interest rates | India | Banks | Risk premium | Bonds | Basel Core Principles
Author's keyword(s): Interest rate | risk management | government securities | duration | value-at-risk | Basel Core Principles

Title: Quantitative Assessment of a Financial System--Barbados
Author/Editor: Chase, Karen ; Greenidge, Kevin ; Moore, Winston ; Worrell, DeLisle
Series: Working Paper No. 05/76
Date: April 1, 2005
Subject(s): Financial stability | Barbados | Forecasting models
Author's keyword(s): Financial stability | Caribbean

Title: Relating the Knowledge Production Function to Total Factor productivity: An Endogenous Growth Puzzle
Author/Editor: Abdih, Yasser ; Joutz, Frederick L.
Series: Working Paper No. 05/74
Date: April 1, 2005
Subject(s): Production | Productivity | Economic growth | Economic models
Author's keyword(s): Endogenous growth | knowledge spillovers | patents | cointegration

Title: Central Bank Losses and Experiences in Selected Countries
Author/Editor: Dalton, John W. ; Dziobek, Claudia Helene
Series: Working Paper No. 05/72
Date: April 1, 2005
Subject(s): Central banks | Brazil | Chile | Czech Republic | Hungary | Korea, Republic of | Thailand | Currency issuance | Republic of Korea
Author's keyword(s): Central bank balance sheet | central bank losses

Title: Setting the Stage for a National Currency in the West Bank and Gaza: The Choice of Exchange Rate Regime
Author/Editor: Beidas, S. ; Kandil, Magda E.
Series: Working Paper No. 05/70
Date: April 1, 2005
Subject(s): Exchange rate regimes | West Bank and Gaza Strip | Currencies | Currency substitution
Author's keyword(s): Exchange rate regimes | west bank and Gaza | Palestinian Economy | Sticky wages and prices | trade price sensitivity | currency substitution

Title: Who is Still Haunted by the Specter of Communism? Explaining Relative Output Contractions Under Transition
Author/Editor: Berengaut, Julian ; Elborgh-Woytek, Katrin
Series: Working Paper No. 05/68
Date: April 1, 2005
Subject(s): Production | Former Soviet Union | Transition economies | Corruption | Economic models
Author's keyword(s): Commonwealth of Independent States | CIS

Title: How Do Canadian Budget Forecasts Compare with Those of Other Industrial Countries?
Author/Editor: Mühleisen, Martin ; Danninger, Stephan ; Hauner, David ; Krajnyák, Kornélia ; Sutton, Bennett
Series: Working Paper No. 05/66
Date: March 1, 2005
Subject(s): Budgets | Canada | Economic forecasting | Forecasting models
Author's keyword(s): Canada | budget forecasting | fiscal performance | industrial countries | macroeconomic projections

Title: Alternative Models of Wage Dispersion
Author/Editor: Gaumont, Damien ; Schindler, Martin ; Wright, Randall
Series: Working Paper No. 05/64
Date: March 1, 2005
Subject(s): Prices | Wages | Wage adjustments | Labor markets | Economic models
Author's keyword(s): Seach equilibrium | wage posting | wage dispersion | labor theory

Title: Are Laws Needed for Public Management Reforms: An International Comparison?
Author/Editor: Lienert, Ian
Series: Working Paper No. 05/62
Date: March 1, 2005
Subject(s): Public debt | Debt management | Budgets | Fiscal reforms
Author's keyword(s): Public management | budget | law | decree | performance

Title: The Impact of Terrorism on Financial Markets
Author/Editor: Johnston, R. B. ; Nedelescu, Oana M.
Series: Working Paper No. 05/60
Date: March 1, 2005
Subject(s): Anti-money laundering | Combating the financing of terrorism | Capital markets
Author's keyword(s): Terrorism | terrorist financing | financial markets

Title: The Implications of South African Economic Growth for the Rest of Africa
Author/Editor: Arora, Vivek B. ; Vamvakidis, Athanasios
Series: Working Paper No. 05/58
Date: March 1, 2005
Subject(s): Economic growth | Sub-Saharan Africa | Stabilization programs | Trade | Economic models
Author's keyword(s): Economic growth | economic integration | Africa

Title: On Cyclicality in the Current and Financial Accounts: Evidence from Nine Industrial Countries
Author/Editor: Clausen, Jens R. ; Kandil, Magda E.
Series: Working Paper No. 05/56
Date: March 1, 2005
Subject(s): Current account | Australia | Canada | Denmark | France | Germany | Italy | New Zealand | Sweden | United Kingdom | Capital account | Production | Economic models
Author's keyword(s): Current account | financial account | cointegration | reduced form equations

Title: How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence
Author/Editor: Singh, Raju ; Plekhanov, Alexander
Series: Working Paper No. 05/54
Date: March 1, 2005
Subject(s): Budget deficits | Debt | Deficit financing | Fiscal reforms | Government expenditures
Author's keyword(s): Fiscal federalism | local government | debt | budget deficit | fiscal discipline

Title: A Latent Factor Model with Global, Country, and Industry Shocks for International Stock Returns
Author/Editor: Brooks, Robin ; Del Negro, Marco
Series: Working Paper No. 05/52
Date: March 1, 2005
Subject(s): Globalization | International capital markets | Risk premium | Export diversification | Industrialization | Stock markets | Economic models
Author's keyword(s): Diversification | risk | international financial markets | industrial structure

Title: Establishing a Performance Management Framework for Government
Author/Editor: Diamond, Jack
Series: Working Paper No. 05/50
Date: March 1, 2005
Subject(s): Fiscal Management | Government expenditures | Budgetary policy | Emerging markets
Author's keyword(s): Performance Budgeting | Performance Measurement

Title: How Big Are The Benefits of Economic Diversification?: Evidence from Earthquakes
Author/Editor: Ramcharan, Rodney
Series: Working Paper No. 05/48
Date: March 1, 2005
Subject(s): Consumption | Exchange risk | Credit | Risk premium | Export diversification
Author's keyword(s): Risk | diversification | consumption

Title: Data Consistency in IMF Publications: Country Staff Reports Versus International Financial Statistics
Author/Editor: Cady, John ; Pellechio, Anthony J.
Series: Working Paper No. 05/46
Date: March 1, 2005
Subject(s): Staff Reports | International Financial Statistics | Publications

Title: An Estimated Small Open Economy Model of the Financial Accelerator
Author/Editor: Elekdag, Selim ; Justiniano, Alejandro ; Tchakarov, Ivan
Series: Working Paper No. 05/44
Date: March 1, 2005
Subject(s): Financial sector | Current account | Exchange rates | Savings | Economic models
Author's keyword(s): Financial accelerator | balance sheets | Bayesian estimation of DSGE models | Taylor rules

Title: "Rules of Thumb" for Sovereign Debt Crises
Author/Editor: Manasse, Paolo ; Roubini, Nouriel
Series: Working Paper No. 05/42
Date: March 1, 2005
Subject(s): External Debt | Financial crisis | Debt restructuring
Author's keyword(s): Sovereign debt | Crises | Default

Title: The Composition of Capital Flows: Is South Africa Different?
Author/Editor: Arezki, Rabah ; Ahmed, Faisal ; Funke, Norbert
Series: Working Paper No. 05/40
Date: March 1, 2005
Subject(s): Capital flows | South Africa | Exchange rates | Foreign investment
Author's keyword(s): Composition of capital flows | exchange rate volatility | financial development

Title: Did the Basel Accord cause a Credit Slowdown in Latin America?
Author/Editor: Barajas, Adolfo ; Chami, Ralph ; Cosimano, Thomas F.
Series: Working Paper No. 05/38
Date: February 1, 2005
Subject(s): Bank supervision | Latin America | Capital markets | Basel Core Principles | Credit
Author's keyword(s): Capital Requirements | Basel Accord | Capital Channel

Title: Regional Trade Arrangements in Africa: Past Performance and the Way Forward
Author/Editor: Yang, Yongzheng ; Gupta, Sanjeev
Series: Working Paper No. 05/36
Date: February 1, 2005
Subject(s): International trade agreements | Africa | Trade policy
Author's keyword(s): Africa | Regional Trade Arrangements

Title: Were Bid-Ask Spreads in the FX Market Excessive During the Asian Crisis?
Author/Editor: Becker, Törbjörn I. ; Sy, Amadou N. R.
Series: Working Paper No. 05/34
Date: February 1, 2005
Subject(s): Exchange markets | Asia | Financial crisis | Emerging markets | Currencies
Author's keyword(s): Foreign exchange | market microstructure | bid-ask spreads | Asian crisis

Title: A Simultaneous Equation Model for World Crude Oil and Natural Gas Markets
Author/Editor: Krichene, Noureddine
Series: Working Paper No. 05/32
Date: February 1, 2005
Subject(s): Natural gas | Energy sector | Markets | Investment | Oil prices | Interest rates | Economic models
Author's keyword(s): Crude Oil | Natural gas | Prices | Output | Demand | Supply | Elasticities | Interest rates | Nominal effective exchange rate | Impulse responses

Title: Issues in Intergovernmental Fiscal Relations in China
Author/Editor: Dabla-Norris, Era
Series: Working Paper No. 05/30
Date: February 1, 2005
Subject(s): Intergovernmental fiscal relations | China | Income distribution | Fiscal policy | China, People's Republic of
Author's keyword(s): Fiscal policy | intergovernmental fiscal relations | China

Title: Inequality, Poverty, and Growth: Cross-Country Evidence
Author/Editor: Iradian, Garbis
Series: Working Paper No. 05/28
Date: February 1, 2005
Subject(s): Economic growth | Poverty | Government expenditures
Author's keyword(s): Inequality | growth | poverty | and public expenditure

Title: Stabilization, Debt, and Fiscal Policy in the Caribbean
Author/Editor: Sahay, Ratna
Series: Working Paper No. 05/26
Date: February 1, 2005
Subject(s): Stabilization measures | Caribbean | Stabilization programs | Debt | Fiscal policy
Author's keyword(s): Stabilization | debt | fiscal policy | Caribbean

Title: Revenue Forecasting--How is it done? Results from a Survey of Low-Income Countries
Author/Editor: Kyobe, Annette ; Danninger, Stephan
Series: Working Paper No. 05/24
Date: February 1, 2005
Subject(s): Revenues | Low income developing countries | Budget estimates | Economic forecasting
Author's keyword(s): Revenue forecasting | budget preparation

Title: Increasing Public Sector Revenue in the Philippines: Equity and Efficiency Considerations
Author/Editor: Fletcher, Kevin
Series: Working Paper No. 05/22
Date: January 1, 2005
Subject(s): Public sector | Philippines | Revenues | Stock markets | Value added tax
Author's keyword(s): Philippines | revenue | incidence | VAT | excises | electricity

Title: Trade Liberalization and Wage Inequality: Evidence from India
Author/Editor: Mishra, Prachi ; Kumar, Utsav
Series: Working Paper No. 05/20
Date: January 1, 2005
Subject(s): Trade liberalization | India | Wages | Economic models
Author's keyword(s): Trade Liberalization | Wage Premium

Title: Growth Empirics under Model Uncertainty: Is Africa Different?
Author/Editor: Tsangarides, Charalambos G.
Series: Working Paper No. 05/18
Date: January 1, 2005
Subject(s): Economic growth | Africa | Economic models
Author's keyword(s): Economic growth | convergence | growth regressions | Bayesian model averaging | dynamic panel estimation

Title: The Russian Flat Tax Reform
Author/Editor: Ivanova, Anna ; Keen, Michael ; Klemm, Alexander
Series: Working Paper No. 05/16
Date: January 1, 2005
Subject(s): Tax reforms | Russian Federation | Income taxes | Tax evasion
Author's keyword(s): Tax reform | flat tax | tax evasion

Title: Revenue Forecasts as Performance Targets
Author/Editor: Danninger, Stephan
Series: Working Paper No. 05/14
Date: January 1, 2005
Subject(s): Revenues | Azerbaijan | Forecasting models
Author's keyword(s): Revenue forecast

Title: Trade and Growth in the Presence of Distortions
Author/Editor: Cassing, James H ; Tokarick, Stephen
Series: Working Paper No. 05/12
Date: January 1, 2005
Subject(s): Tariffs | Egypt | Trade | Economic growth | Capital accumulation | National income accounts | Economic models
Author's keyword(s): Tariffs | distortions | growth rate | factor accumulation

Title: State-Owned Banks, Stability, Privatization, and Growth: Practical Policy Decisions in a World Without Empirical Proof
Author/Editor: Andrews, Michael
Series: Working Paper No. 05/10
Date: January 1, 2005
Subject(s): Financial stability | Banking systems | Privatization | Financial crisis
Author's keyword(s): State-owned banks | financial stability | banking crises | privatization

Title: Implicit Transfers in IMF Lending, 1973-2003
Author/Editor: Zettelmeyer, Jeromin ; Joshi, Priyadarshani
Series: Working Paper No. 05/8
Date: January 1, 2005
Subject(s): Fund | Subsidies | HIPC Initiative | Heavily indebted poor countries
Author's keyword(s): International Monetary Fund | subsidy | moral hazard | HIPC Initiative

Title: Stock Market Liquidity and the Macroeconomy: Evidence from Japan
Author/Editor: Choi, Woon Gyu ; Cook, David
Series: Working Paper No. 05/6
Date: January 1, 2005
Subject(s): Stock markets | Japan | Liquidity | Demand
Author's keyword(s): Stock market liquidity | liquidity shocks | vector autoregression