Title: Assessing Competitiveness After Conflict: The Case of the Central African Republic
Author/Editor: Bakhache, Said ; Lewis, Mark ; Kalonji, Kadima D. ; Nachega, Jean-Claude
Series: Working Paper No. 06/303
Date: December 1, 2006
Subject(s): Competition | Central African Republic | Foreign exchange | Trade | Transport | Governance
Author's keyword(s): Competitiveness

Title: The Shortcomings of a Partial Release of Employment Protection Laws: The Case of the 2005 French Reform
Author/Editor: Cahuc, Pierre ; Carcillo, Stéphane
Series: Working Paper No. 06/301
Date: December 1, 2006
Subject(s): Employment policy | France | Labor markets | Social safety nets | Unemployment | Economic models
Author's keyword(s): Employment protection | labor contract | reform | search models

Title: Recent Dynamics of Crude Oil Prices
Author/Editor: Krichene, Noureddine
Series: Working Paper No. 06/299
Date: December 1, 2006
Subject(s): Oil prices | Economic models
Author's keyword(s): Characteristic function | crude oil | cumulants | drift | Fourier inversion | jump-diffusion | kurtosis | option pricing | skewness | variance-gamma distribution | volatility

Title: Bank Risk-Taking and Competition Revisited: New Theory and New Evidence
Author/Editor: Boyd, John H. ; De Nicoló, Gianni ; Jalal, Abu M.
Series: Working Paper No. 06/297
Date: December 1, 2006
Subject(s): Bank soundness | Competition | Profits | Asset management | Resource allocation | Risk management | Economic models
Author's keyword(s): Bank competition | concentration | risk | asset allocations

Title: Probabilistic Sustainability of Public Debt: A Vector Autoregression Approach for Brazil, Mexico, and Turkey
Author/Editor: Tanner, Evan ; Samaké, Issouf
Series: Working Paper No. 06/295
Date: December 1, 2006
Subject(s): Fiscal policy | Brazil | Mexico | Turkey | Emerging markets | Public debt | Economic models
Author's keyword(s): Tax smoothing | sustainability | vector autoregression | historical decomposition | primary surplus

Title: Corporate Governance Quality: Trends and Real Effects
Author/Editor: De Nicoló, Gianni ; Laeven, Luc ; Ueda, Kenichi
Series: Working Paper No. 06/293
Date: December 1, 2006
Subject(s): Corporate governance | Transparency | Economic growth | Gross domestic product | Productivity | Investment
Author's keyword(s): Corporate governance | disclosure | transparency | economic growth | productivity

Title: Rebalancing China's Economy: What Does Growth Theory Tell Us?
Author/Editor: Aziz, Jahangir
Series: Working Paper No. 06/291
Date: December 1, 2006
Subject(s): Economic growth | China | Economic policy | Bank reforms | Financial sector | Capital markets | Capital | Consumption | Investment | Exports | Economic models | China, People's Republic of
Author's keyword(s): Business cycle accounting | rebalancing growth | financial distortions

Title: Testing the Transparency Benefits of Inflation Targeting: Evidence from Private Sector Forecasts
Author/Editor: Crowe, Christopher W.
Series: Working Paper No. 06/289
Date: December 1, 2006
Subject(s): Inflation targeting | Inflation | Economic forecasting | Central banks | Transparency | Private sector | Forecasting models | Economic models
Author's keyword(s): Inflation targeting | inflation forecasts | Central Bank transparency | propensity score matching

Title: Volatility and Growth in Latin America: An Episodic Approach
Author/Editor: Sahay, Ratna ; Goyal, Rishi
Series: Working Paper No. 06/287
Date: December 1, 2006
Subject(s): Economic growth | Latin America | Economic reforms | Economic policy | Economic models
Author's keyword(s): Growth | volatility | structural reforms | Latin America | episodic approach

Title: How Does the Introduction of Health Insurance Change the Equity in the Health Care Provision in Bulgaria?
Author/Editor: Markova, Nora
Series: Working Paper No. 06/285
Date: December 1, 2006
Subject(s): Health care | Bulgaria | Public finance | Insurance | Income distribution | Social indicators | Poverty | Economic models
Author's keyword(s): Health care financing | equity in health care financing | income inequality | redistribution

Title: Portfolio Credit Risk and Macroeconomic Shocks: Applications to Stress Testing Under Data-Restricted Environments
Author/Editor: Segoviano Basurto, Miguel A.
Series: Working Paper No. 06/283
Date: December 1, 2006
Subject(s): Credit risk | Economic conditions | Statistics | Economic models
Author's keyword(s): Portfolio credit risk measurement | stress testing | macroeconomic shock measurement | multivariate density estimation | entropy distribution

Title: Central Bank Boards Around the World: Why Does Membership Size Differ?
Author/Editor: Berger, Helge ; Nitsch, Volker ; Lybek, Tonny
Series: Working Paper No. 06/281
Date: December 1, 2006
Subject(s): Central banks | Governance | Monetary policy
Author's keyword(s): Committee | council | governance | decision making | monetary policy

Title: Uganda: Managing More Effective Decentralization
Author/Editor: Ahmad, Ehtisham ; Brosio, Giorgio ; Gonzalez, Maria
Series: Working Paper No. 06/279
Date: December 1, 2006
Subject(s): Intergovernmental fiscal relations | Uganda | Fiscal policy
Author's keyword(s): Fiscal policy | intergovernmental fiscal relations

Title: Elements of Optimal Monetary Policy Committee Design
Author/Editor: Vandenbussche, Jérôme
Series: Working Paper No. 06/277
Date: December 1, 2006
Subject(s): Monetary policy | Central banks
Author's keyword(s): Monetary policy | collective decision making | committees

Title: The Myth of Post-Reform Income Stagnation in Brazil
Author/Editor: Carvalho Filho, Irineu E. ; Chamon, Marcos
Series: Working Paper No. 06/275
Date: December 1, 2006
Subject(s): Income | Brazil | Trade liberalization | Inflation | Economic stabilization | Economic reforms | Consumer price indexes
Author's keyword(s): CPI bias | trade liberalization | inflation stabilization | economic reform

Title: Rethinking the Governance of the International Monetary Fund
Author/Editor: Mirakhor, Abbas ; Zaidi, Iqbal Mehdi
Series: Working Paper No. 06/273
Date: December 1, 2006
Subject(s): Fund | Quota increases | Quota distribution | Voting power | Quota calculations | Governance | Transparency | Quota formulas | Basic votes
Author's keyword(s): Governance | International Monetary Arrangements and Institutions | International Monetary Fund

Title: The Size Distribution of Firms, Cournot, and Optimal Taxation
Author/Editor: Gersovitz, Mark
Series: Working Paper No. 06/271
Date: December 1, 2006
Subject(s): Taxation | Profits | Tax rates | Economic models
Author's keyword(s): Optimal tax | size distribution | imperfect competition

Title: Currency Mismatches and Corporate Default Risk: Modeling, Measurement, and Surveillance Applications
Author/Editor: Chan-Lau, Jorge A. ; Santos, Andre
Series: Working Paper No. 06/269
Date: December 1, 2006
Subject(s): Credit risk | Currencies | Financial crisis | Dollarization | Economic models
Author's keyword(s): Default risk | currency mismatch | dollarization | corporate sector | econometric estimation | financial surveillance

Title: Financial Integration in Asia: Estimating the Risk-Sharing Gains for Australia and Other Nations
Author/Editor: Mercereau, Benoît
Series: Working Paper No. 06/267
Date: December 1, 2006
Subject(s): Risk management | Australia | Asia and Pacific | Capital account liberalization | Foreign investment | Financial systems
Author's keyword(s): Risk-sharing | international diversification | regional integration

Title: What's Driving Investment in China?
Author/Editor: Barnett, Steven ; Brooks, Ray
Series: Working Paper No. 06/265
Date: November 1, 2006
Subject(s): Investment | China | Absorptive capacity | Resource allocation | China, People's Republic of
Author's keyword(s): China | investment | capacity

Title: Can Good Events Lead to Bad Outcomes? Endogenous Banking Crises and Fiscal Policy Responses
Author/Editor: Feltenstein, Andrew ; Rochon, Céline
Series: Working Paper No. 06/263
Date: November 1, 2006
Subject(s): Banking | China | Fiscal policy | Tax rates | Labor markets | Foreign investment | Economic models | China, People's Republic of
Author's keyword(s): Banking failures | fiscal policies

Title: Export Performance and External Competitiveness in the Former Yugoslav Republic of Macedonia
Author/Editor: Gutierrez, Eva
Series: Working Paper No. 06/261
Date: November 1, 2006
Subject(s): Export performance | Macedonia, FYR | Competition | Exchange rates | Export competitiveness | Macedonia, former Yugoslav Republic of
Author's keyword(s): Competitiveness | equilibrium exchange rate

Title: Allowances for Corporate Equity in Practice
Author/Editor: Klemm, Alexander
Series: Working Paper No. 06/259
Date: November 1, 2006
Subject(s): Tax systems | Tax reforms | Income taxes | Profits
Author's keyword(s): ACE | tax reform | corporate income tax

Title: To Smooth or Not to Smooth - The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan
Author/Editor: Saadi-Sedik, Tahsin ; Petri, Martin
Series: Working Paper No. 06/257
Date: November 1, 2006
Subject(s): Capital inflows | Jordan | Workers remittances | Exchange rates | Economic models
Author's keyword(s): Jordan | grants | remittances | equilibrium real exchange rate | smoothing techniques

Title: Exchange Rate Risk Measurement and Management: Issues and Approaches for Firms
Author/Editor: Papaioannou, Michael G.
Series: Working Paper No. 06/255
Date: November 1, 2006
Subject(s): Financial risk | Risk management | Foreign exchange | Exchange rates | Industry | Economic models
Author's keyword(s): Financial risk | financial management | foreign exchange hedging | exchange hedging | corporate hedging practices

Title: Fiscal Consolidation in Israel: A Global Fiscal Model Perspective
Author/Editor: Elekdag, Selim ; Epstein, Natan P. ; Moreno Badia, Marialuz
Series: Working Paper No. 06/253
Date: November 1, 2006
Subject(s): Fiscal policy | Israel | Fiscal reforms | Tax reductions | Government expenditures | Public debt | Gross domestic product | Economic growth | Emerging markets | Economic models
Author's keyword(s): Fiscal consolidation | distortionary taxes | government debt

Title: Are the French Happy with the 35-Hour Workweek?
Author/Editor: Estevão, Marcello M. ; Sa, Filipa
Series: Working Paper No. 06/251
Date: November 1, 2006
Subject(s): Employment policy | France | Labor | Legislation
Author's keyword(s): Workweek | coordination | job-sharing | welfare

Title: Testing Real Interest Parity in Emerging Markets
Author/Editor: Singh, Manmohan ; Banerjee, Abhisek
Series: Working Paper No. 06/249
Date: November 1, 2006
Subject(s): Real interest rates | Emerging markets | Debt | Adjustment process | Foreign investment | Economic models
Author's keyword(s): Real interest parity | short-term local emerging market debt | Pesaran's CADF test

Title: The Magnitude and Distribution of Fuel Subsidies: Evidence from Bolivia, Ghana, Jordan, Mali, and Sri Lanka
Author/Editor: Coady, David ; El-Said, Moataz ; Gillingham, Robert ; Kpodar, Kangni ; Medas, Paulo A. ; Newhouse, David Locke
Series: Working Paper No. 06/247
Date: November 1, 2006
Subject(s): Energy prices | Subsidies | Bolivia | Ghana | Jordan | Mali | Sri Lanka
Author's keyword(s): Energy prices | subsidies | welfare distribution | household survey data

Title: A Small Foreign Exchange Market with a Long-Term Peg: Barbados
Author/Editor: Worrell, DeLisle ; Craigwell, Roland ; Mitchell, Travis
Series: Working Paper No. 06/245
Date: October 1, 2006
Subject(s): Foreign exchange | Barbados | Exchange rates | Interest rates | Capital flows
Author's keyword(s): Foreign exchange | exchange rate | interest parity

Title: Fuel Price Subsidies in Gabon: Fiscal Cost and Distributional Impact
Author/Editor: El-Said, Moataz ; Leigh, Daniel
Series: Working Paper No. 06/243
Date: October 1, 2006
Subject(s): Subsidies | Gabon | Energy prices | Income distribution | Government expenditures
Author's keyword(s): Fuel-price subsidies | Gabon | income distribution

Title: Integration of the Securities Market Infrastructure in the European Union: Policy and Regulatory Issues
Author/Editor: Kazarian, Elias G.
Series: Working Paper No. 06/241
Date: October 1, 2006
Subject(s): Securities markets | Europe | European Union | Infrastructure | Payment systems | Risk management
Author's keyword(s): Securities clearing and settlement systems | cross-border integration | consolidation | systemic risk | regulatory framework | oversight

Title: How Does the Global Economic Environment Influence the Demand for IMF Resources
Author/Editor: Elekdag, Selim
Series: Working Paper No. 06/239
Date: October 1, 2006
Subject(s): Stand-by arrangements | Loans | Economic indicators
Author's keyword(s): Stand-by arrangements | prediction | IMF lending capacity | IMF income position

Title: Diversity in the Workplace
Author/Editor: Morgan, John ; Vardy, Felix J. J.
Series: Working Paper No. 06/237
Date: October 1, 2006
Subject(s): Employment
Author's keyword(s): diversity | sequential search | statistical discrimination | reverse discrimination | discourse systems

Title: Public Debt and Productivity: The Difficult Quest for Growth in Jamaica
Author/Editor: Blavy, Rodolphe
Series: Working Paper No. 06/235
Date: October 1, 2006
Subject(s): Public debt | Jamaica | Productivity | Economic growth | External debt | Public investment | Resource allocation | Economic models
Author's keyword(s): Jamaica | growth | external debt | public debt | growth accounting | productivity

Title: Gender and Its Relevance to Macroeconomic Policy: A Survey
Author/Editor: Stotsky, Janet Gale
Series: Working Paper No. 06/233
Date: October 1, 2006
Subject(s): Gender equality | Economic policy | Economic growth | Economic stabilization | Economic models
Author's keyword(s): Gender | macroeconomic policy

Title: Barriers to Retail Competition and Prices: Evidence from Spain
Author/Editor: Hoffmaister, Alexander W.
Series: Working Paper No. 06/231
Date: October 1, 2006
Subject(s): Competition | Spain | Prices | Markets | Economic models
Author's keyword(s): Barriers to entry | Cournot-Nash model | regulation in goods markets | and panel cointegration

Title: The Optimal Level of International Reserves for Emerging Market Countries: Formulas and Applications
Author/Editor: Jeanne, Olivier ; Ranciere, Romain
Series: Working Paper No. 06/229
Date: October 1, 2006
Subject(s): Foreign exchange reserves | Emerging markets | Balance of payments | Financial crisis | Capital flows | Economic models
Author's keyword(s): Foreign exchange reserves | balance of payments crises | sudden stops | capital flows

Title: The Measurement of Central Bank Autonomy: Survey of Models, Indicators, and Empirical Evidence
Author/Editor: Arnone, Marco ; Laurens, Bernard ; Segalotto, Jean-François
Series: Working Paper No. 06/227
Date: October 1, 2006
Subject(s): Central banks | Inflation | Economic growth | Economic models
Author's keyword(s): Central bank autonomy | political autonomy | economic autonomy

Title: A Debt Overhang Model for Low-Income Countries: Implications for Debt Relief
Author/Editor: Koeda, Junko
Series: Working Paper No. 06/224
Date: October 1, 2006
Subject(s): Debt burden | Low income developing countries | Debt relief | Productivity | Economic growth | Economic conditions | Economic models
Author's keyword(s): Debt overhang | debt relief | participation constraint | low-income countries | dynamic programming

Title: How Robust are Estimates of Equilibrium Real Exchange Rates: The Case of China
Author/Editor: Dunaway, Steven Vincent ; Leigh, Lamin ; Li, Xiangming
Series: Working Paper No. 06/220
Date: October 1, 2006
Subject(s): Exchange rates | China | Economic models | China, People's Republic of
Author's keyword(s): China's equilibrium real exchange rate | robustness tests

Title: The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks
Author/Editor: Groome, Todd ; Blancher, Nicolas R. ; Haas, François ; Kiff, John ; Lee, William ; Mills, Paul S. ; Nakagawa, Shinobu ; Ramlogan, Parmeshwar ; Khadarina, Oksana ; Kim, Yoon Sook
Series: Working Paper No. 06/217
Date: October 1, 2006
Subject(s): Risk management | Financial systems | Capital markets | Insurance regulations | Bank supervision | Public sector
Author's keyword(s): Risk transfer | systemic risk | insurance markets | supervision and regulation

Title: Assessing Banking Sector Soundness in a Long-Term Framework: The Case of Venezuela
Author/Editor: Blavy, Rodolphe
Series: Working Paper No. 06/225
Date: September 1, 2006
Subject(s): Bank soundness | Venezuela, Republica Bolivariana de | Financial soundness indicators | Banking sector | Venezuela, República Bolivariana de
Author's keyword(s): Banking sector | financial soundness | macroprudential analysis | stress tests | Venezuela

Title: Economic and Political Determinants of Tax Amnesties in the U.S. States
Author/Editor: Le Borgne, Eric
Series: Working Paper No. 06/222
Date: September 1, 2006
Subject(s): Tax policy | United States | Political economy | Tax revenues | Economic models
Author's keyword(s): Tax amnesty | gubernatorial elections | Cox model

Title: Distance-to-Default in Banking: A Bridge Too Far?
Author/Editor: Chan-Lau, Jorge A. ; Sy, Amadou N. R.
Series: Working Paper No. 06/215
Date: September 1, 2006
Subject(s): Banks | Financial stability
Author's keyword(s): Banks | insolvency | closure | prompt corrective action | distance-to-default | distance-to-capital

Title: The Incidence and Effectiveness of Prior Actions in IMF-Supported Programs
Author/Editor: Thomas, Alun H. ; Ramakrishnan, Uma
Series: Working Paper No. 06/213
Date: September 1, 2006
Subject(s): Conditionality | Fund-supported adjustment programs | General Resources Account | Economic reforms | Political economy
Author's keyword(s): Conditionality | prior actions | signaling | commitment | implementation

Title: The Monetary Policy Regime and Banking Spreads in Barbados
Author/Editor: Samuel, Wendell A. ; Valderrama, Laura
Series: Working Paper No. 06/211
Date: September 1, 2006
Subject(s): Interest rates | Barbados | Monetary policy | Economic conditions
Author's keyword(s): Interest rate spreads | monetary policy regime

Title: Measuring Competitiveness
Author/Editor: Neary, J. Peter
Series: Working Paper No. 06/209
Date: September 1, 2006
Subject(s): European Economic and Monetary Union | Export competitiveness | Real effective exchange rates
Author's keyword(s): Competitiveness | economic theory of index numbers | European Monetary Union (EMU) | real effective exchange rates (REERs)

Title: Money Market Integration
Author/Editor: Bartolini, Leonardo ; Hilton, R. Spence ; Prati, Alessandro
Series: Working Paper No. 06/207
Date: September 1, 2006
Subject(s): Money markets
Author's keyword(s): Federal funds | Eurodollars | market segmentation

Title: The External Financing of Emerging Market Countries: Evidence from Two Waves of Financial Globalization
Author/Editor: Faria, André ; Mauro, Paolo ; Minnoni, Martín ; Zaklan, Aleksandar
Series: Working Paper No. 06/205
Date: September 1, 2006
Subject(s): Capital flows | Emerging markets | External financing | Globalization
Author's keyword(s): External liabilities | emerging markets | capital flows | international financial integration

Title: Fiscal Implications of Multilateral Tariff Cuts
Author/Editor: Elborgh-Woytek, Katrin ; Hallaert, Jean-Jacques ; Lankes, Hans P. ; Sadikov, Azim M. ; Smith, Dustin
Series: Working Paper No. 06/203
Date: September 1, 2006
Subject(s): Tariffs | Taxation | Trade | Trade policy
Author's keyword(s): Taxation | Trade Negotiations | Trade Policy. Doha Round | Trade Taxes.

Title: The Stock Market and the Financing of Corporate Growth in Africa: The Case of Ghana
Author/Editor: Yartey, Charles Amo
Series: Working Paper No. 06/201
Date: September 1, 2006
Subject(s): Ghana | Stock markets
Author's keyword(s): Stock markets | corporate finance | corporate growth | Ghana

Title: Insuring Public Finances Against Natural Disasters--A Survey of Options and Recent Initiatives
Author/Editor: Hofman, David ; Brukoff, Patricia
Series: Working Paper No. 06/199
Date: August 1, 2006
Subject(s): Public finance | Insurance
Author's keyword(s): Natural disasters; public finances | insurance

Title: Measures of Underlying Inflation in the Euro Area: Assessment and Role for Informing Monetary Policy
Author/Editor: Stavrev, Emil
Series: Working Paper No. 06/197
Date: August 1, 2006
Subject(s): Inflation | Euro area | Monetary policy | Economic models
Author's keyword(s): Underlying inflation | forecast evaluation | composite indicators | forecast risk assessment

Title: A Primer for Risk Measurement of Bonded Debt from the Perspective of a Sovereign Debt Manager
Author/Editor: Papaioannou, Michael G.
Series: Working Paper No. 06/195
Date: August 1, 2006
Subject(s): Debt | Credit risk | Debt management
Author's keyword(s): Risk measurement | market risk | credit risk | liquidity risk

Title: Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy: Lessons from Gabon
Author/Editor: Leigh, Daniel ; Olters, Jan-Peter
Series: Working Paper No. 06/193
Date: August 1, 2006
Subject(s): Fiscal policy | Gabon | Income | Investment | Natural resources | Economic models
Author's keyword(s): Sustainable fiscal policy | habit formation | permanent-income hypothesis | Gabon

Title: What Explains Private Saving in Mexico?
Author/Editor: Bulir, Ales ; Swiston, Andrew
Series: Working Paper No. 06/191
Date: August 1, 2006
Subject(s): Private savings | Mexico | Investment | Inflation | Taxes
Author's keyword(s): Mexico | private saving | Ricardian equivalence

Title: Financial Globalization: A Reappraisal
Author/Editor: Kose, M. Ayhan ; Prasad, Eswar ; Wei, Shang-Jin ; Rogoff, Kenneth
Series: Working Paper No. 06/189
Date: August 1, 2006
Subject(s): Globalization | Capital account liberalization | Financial crisis | Developing countries
Author's keyword(s): Capital account liberalization | financial integration | growth and volatility | financial crises | developing countries

Title: The Jordanian Stock Market--Should You Invest in it for Risk Diversification or Performance?
Author/Editor: Saadi-Sedik, Tahsin ; Petri, Martin
Series: Working Paper No. 06/187
Date: August 1, 2006
Subject(s): Stock markets | Jordan | Investment
Author's keyword(s): Jordan | stock market integration | cointegration | common trends

Title: Oil and Growth in the Republic of Congo
Author/Editor: Bhattacharya, Rina ; Ghura, Dhaneshwar
Series: Working Paper No. 06/185
Date: August 1, 2006
Subject(s): Oil | Congo, Republic of | Economic growth | Real effective exchange rates
Author's keyword(s): oil | conflicts | economic growth

Title: Management of Oil Wealth Under the Permanent Income Hypothesis: The Case of Sao Tome and Principe
Author/Editor: Segura, Alonso
Series: Working Paper No. 06/183
Date: July 1, 2006
Subject(s): Oil | Sao Tome and Principe | Oil revenues | Sao Tomé and Príncipe
Author's keyword(s): Sao Tome and Principe | oil resources | permanent income hypothesis | fiscal rules

Title: The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes
Author/Editor: Silver, Mick ; Heravi, Saeed
Series: Working Paper No. 06/181
Date: July 1, 2006
Subject(s): Consumer prices
Author's keyword(s): Hedonic regressions; consumer price indexes; superlative indexes

Title: Institutional Quality, Knightian Uncertainty, and Insurability: A Cross-Country Analysis
Author/Editor: Erbas, S. Nuri ; Sayers, Chera L.
Series: Working Paper No. 06/179
Date: July 1, 2006
Subject(s): Financial sector | Governance | Insurance
Author's keyword(s): Institutional quality | Knightian Uncertainty | insurability

Title: Euro-Dollar Real Exchange Rate Dynamics in an Estimated Two-Country Model: What Is Important and What Is Not
Author/Editor: Rabanal, Pau ; Tuesta, Vicente
Series: Working Paper No. 06/177
Date: July 1, 2006
Subject(s): Euro | U.S. dollar | Real effective exchange rates | Economic models
Author's keyword(s): Real exchange rates | Bayesian estimation | model comparison

Title: The Role of Seasonality and Monetary Policy in Inflation Forecasting
Author/Editor: Kumah, Francis Y.
Series: Working Paper No. 06/175
Date: July 1, 2006
Subject(s): Monetary policy | Inflation | Forecasting models
Author's keyword(s): Inflation forecasting | seasonal unit roots | monetary policy stance | erroro-correction models and VAR

Title: Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy - The Case of Georgia
Author/Editor: Billmeier, Andreas ; Mathisen, Johan
Series: Working Paper No. 06/173
Date: July 1, 2006
Subject(s): Dollarization | Georgia | Bank supervision | Flexible exchange rates | Exchange rate regimes
Author's keyword(s): Balance sheet analysis | BSA | Georgia | vulnerabilities | currency mismatch

Title: Weathering the Storm So Far: The Impact of the 2003-05 Oil Shock on Low-Income Countries
Author/Editor: Dudine, Paolo ; John, James ; Lewis, Mark ; Monasi, Luzmaria ; Tadesse, Helaway ; Zeuner, Jörg
Series: Working Paper No. 06/171
Date: July 1, 2006
Subject(s): Oil | Low income developing countries | Balance of payments | Oil prices | Use of Fund resources
Author's keyword(s): Oil | oil shock | balance of payments | adjustment | fiscal | quasi-fiscal | pass-through | low-income country | IMF financing

Title: Institutions v. Geography: Sub-National Evidence from the United States
Author/Editor: Clifton, Eric V. ; Romero-Barrutieta, Alma
Series: Working Paper No. 06/169
Date: July 1, 2006
Subject(s): Economic growth | United States | Poverty | Income
Author's keyword(s): Economic growth | poverty | institutions | geography | Appalachia

Title: Ukraine: The Cost of Weak Institutions
Author/Editor: Tiffin, Andrew
Series: Working Paper No. 06/167
Date: July 1, 2006
Subject(s): Economic growth | Investment | Markets | Productivity | Transition economies | Ukraine
Author's keyword(s): Total factor productivity | stochastic fronotiers | technical efficiency | institutions | transition economies

Title: Expenditure Composition and Distortionary Tax for Equitable Economic Growth
Author/Editor: Park, Hyun
Series: Working Paper No. 06/165
Date: June 1, 2006
Subject(s): Consumption | Economic growth | Government expenditures | Production | Taxes
Author's keyword(s): Allocative and redistributive policy | endogeneity | nonlinearity

Title: How Do Central Banks Write on Financial Stability?
Author/Editor: Cihák, Martin
Series: Working Paper No. 06/163
Date: June 1, 2006
Subject(s): Financial stability | Central Banks | Financial sector
Author's keyword(s): Financial stabiity | Central Banking

Title: Moving to Territoriality? Implications for the United States and the Rest of the World
Author/Editor: Mullins, Peter L.
Series: Working Paper No. 06/161
Date: June 1, 2006
Subject(s): Income taxes | United States | Foreign direct investment | Tax policy | Tax revenues | Tax systems
Author's keyword(s): Income tax | international tax | foreign direct investment

Title: U.S. Inflation Dynamics: What Drives Them Over Different Frequencies?
Author/Editor: Balakrishnan, Ravi ; Ouliaris, Sam
Series: Working Paper No. 06/159
Date: June 1, 2006
Subject(s): Inflation | United States | Monetary policy | Demand | Globalization | Economic models
Author's keyword(s): U.S. Inflation | monetary policy credibility

Title: Inflation Targeting in Dollarized Economies
Author/Editor: Leiderman, Leonardo ; Maino, Rodolfo ; Parrado, Eric
Series: Working Paper No. 06/157
Date: June 1, 2006
Subject(s): Inflation targeting | Inflation | Dollarization | Monetary policy
Author's keyword(s): Monetary policy | inflation targeting | dollarization

Title: The Impact of Trade on Wages: What If Countries Are Not Small?
Author/Editor: Saito, Mika ; Tokutsu, Ichiro
Series: Working Paper No. 06/155
Date: June 1, 2006
Subject(s): International trade | Wages | Trade policy | Tariff structures | Labor supply | Labor markets
Author's keyword(s): International trade | wages

Title: The Euro's Challenge to the Dollar: Different Views from Economists and Evidence from COFER (Currency Composition of Foreign Exchange Reserves) and Other Data
Author/Editor: Lim, Ewe-Ghee
Series: Working Paper No. 06/153
Date: June 1, 2006
Subject(s): Euro | U.S. Dollar | Foreign exchange reserves | International bond markets
Author's keyword(s): Euro | dollar | international currency | network externalities | reserves | currency composition

Title: Price Impacts of Non-Adoption of the Euro for Small European Countries
Author/Editor: Yelten, Sibel ; Anderson, Harald
Series: Working Paper No. 06/151
Date: June 1, 2006
Subject(s): Exchange rate policy | European Union | Currency pegs
Author's keyword(s): Optimal currency area | exchange rate policy | major world currency | currency peg | self enforcing currency area

Title: Fundamentals-Based Estimation of Default Probabilities: A Survey
Author/Editor: Chan-Lau, Jorge A.
Series: Working Paper No. 06/149
Date: June 1, 2006
Subject(s): Financial stability | Credit controls | Economic models
Author's keyword(s): Default probabilities | econometric models | scoring models | ratings models

Title: Does Fiscal Policy Matter for the Trade Account? A Panel Cointegration Study
Author/Editor: Funke, Katja ; Nickel, Christiane
Series: Working Paper No. 06/147
Date: June 1, 2006
Subject(s): Fiscal policy | Trade | Demand
Author's keyword(s): Fiscal policy | trade account | trade elasticities | panel cointegration

Title: Aid Volatility and Dutch Disease: Is There a Role for Macroeconomic Policies?
Author/Editor: Prati, Alessandro ; Tressel, Thierry
Series: Working Paper No. 06/145
Date: June 1, 2006
Subject(s): Development assistance | Monetary policy | Real effective exchange rates | Balance of trade
Author's keyword(s): Aid effectiveness | monetary policy | real exchange rate | Dutch disease

Title: Are More Competitive Banking Systems More Stable?
Author/Editor: Schaeck, Klaus ; Cihák, Martin ; Wolfe, Simon
Series: Working Paper No. 06/143
Date: June 1, 2006
Subject(s): Banking systems | Bank regulations | Bank supervision | Financial crisis
Author's keyword(s): Systemic risk | banking competition | market structure | regulation | duration analysis

Title: Some Principles for Development of Statistics for a Gulf Cooperation Council Currency Union
Author/Editor: Krueger, Russell C. ; Kovarich, Ettore
Series: Working Paper No. 06/141
Date: June 1, 2006
Subject(s): Statistics | Monetary unions | Cooperation Council for the Arab States of the Gulf
Author's keyword(s): Gulf Cooperation Council | GCC | currency union | monetary union | EMU | statistics | Bahrain | Kuwait | Oman | Qatar | Saudi Arabia | United Arab Emirates

Title: The Credit Risk Transfer Market and Stability Implications for U.K. Financial Institutions
Author/Editor: Chan-Lau, Jorge A. ; Ong, Li L.
Series: Working Paper No. 06/139
Date: June 1, 2006
Subject(s): Credit risk | United Kingdom | Capital markets | Financial stability
Author's keyword(s): CDO | CDS | credit derivatives | credit risk transfer | structured credit products

Title: Structural Reforms in the Euro Area: Economic Impact and Role of Synchronization Across Markets and Countries
Author/Editor: Everaert, Luc ; Schule, Werner
Series: Working Paper No. 06/137
Date: June 1, 2006
Subject(s): Structural adjustment | Euro area | Markets
Author's keyword(s): Economic policy | econometric models | competition | markups | monetary policy

Title: Putting the New Keynesian Model to a Test
Author/Editor: Peersman, Gert ; Straub, Roland
Series: Working Paper No. 06/135
Date: May 1, 2006
Subject(s): Economic models
Author's keyword(s): DSGE models | vector autoregression | sign restrictions

Title: Sudden Stops and Currency Drops: A Historical Look
Author/Editor: Catão, Luis
Series: Working Paper No. 06/133
Date: May 1, 2006
Subject(s): Financial crisis | Capital flows | Exchange rate regimes
Author's keyword(s): Sudden stops | currency crises | international capital flows | gold standard

Title: Who Saves in Ireland? The Micro Evidence
Author/Editor: Moreno Badia, Marialuz
Series: Working Paper No. 06/131
Date: May 1, 2006
Subject(s): Savings | Ireland | Consumption | Asset prices
Author's keyword(s): Saving | housing prices

Title: Immiserizing Foreign Aid: The Role of Tariffs and Nontraded Goods
Author/Editor: Tokarick, Stephen
Series: Working Paper No. 06/129
Date: May 1, 2006
Subject(s): Development assistance | Tariffs | International trade | Economic models
Author's keyword(s): Foreign aid | welfare effects | tariffs | nontraded goods

Title: The Lender of Last Resort in the European Single Financial Market
Author/Editor: Schinasi, Garry J. ; Teixeira, Pedro Gustavo
Series: Working Paper No. 06/127
Date: May 1, 2006
Subject(s): Central banks | European monetary system | European Union | Financial systems | International capital markets | International monetary system
Author's keyword(s): Lender of last resort | European single financial market | policy coordination

Title: Regional Convergence in Latin America
Author/Editor: Serra, Maria Isabel ; Pazmino, Maria Fernanda ; Lindow, Genevieve ; Sutton, Bennett ; Ramirez, Gustavo
Series: Working Paper No. 06/125
Date: May 1, 2006
Subject(s): Economic growth | Argentina | Brazil | Chile | Colombia | Mexico | Peru | Latin America | Productivity | Production
Author's keyword(s): Growth | convergence | regional disparities | Argentina | Brazil | Chile | Colombia | Mexico | Peru

Title: Can Budget Institutions Counteract Political Indiscipline?
Author/Editor: Fabrizio, Stefania ; Mody, Ashoka
Series: Working Paper No. 06/123
Date: May 1, 2006
Subject(s): Fiscal policy | Budgets | Budget deficits | Government expenditures | Political economy | Public finance | National budgets
Author's keyword(s): Fiscal policy | budget institutions | electoral rules | government fragmentation | government idealogy | ethnic fractionalization | voter turnover

Title: Public Debt, Money Supply, and Inflation: A Cross-Country Study and its Application to Jamaica
Author/Editor: Kwon, Goohoon ; McFarlane, Lavern ; Robinson, Wayne
Series: Working Paper No. 06/121
Date: May 1, 2006
Subject(s): Public debt | Jamaica | Money supply | Demand for money | Inflation | Fiscal policy | Economic models
Author's keyword(s): Money demand | fiscal theory of the price level | dynamic panel | GMM

Title: Fiscal Discipline and Exchange Rate Regimes: Evidence from the Caribbean
Author/Editor: Duttagupta, Rupa ; Tolosa, Guillermo
Series: Working Paper No. 06/119
Date: May 1, 2006
Subject(s): Fiscal policy | Caribbean | Monetary unions | Exchange rate regimes | Flexible exchange rates | Currency pegs
Author's keyword(s): Fiscal policy; currency unions | exchange rates

Title: A Superior Hybrid Cash-Flow Tax on Corporations
Author/Editor: Zee, Howell H.
Series: Working Paper No. 06/117
Date: May 1, 2006
Subject(s): Income taxes | Revenues | Subsidies | Tax reforms | Taxation
Author's keyword(s): Corporate income tax | cash-flow tax | tax reform

Title: Excess Liquidity and the Effectiveness of Monetary Policy: Evidence from Sub-Saharan Africa
Author/Editor: Saxegaard, Magnus
Series: Working Paper No. 06/115
Date: May 1, 2006
Subject(s): Excess liquidity | Sub-Saharan Africa | Central African Economic and Monetary Community | Nigeria | Uganda | Monetary policy | Money supply | Credit | Economic models
Author's keyword(s): Excess liquidity | monetary policy | threshold VAR

Title: Growth and Productivity in Papua New Guinea
Author/Editor: Faal, Ebrima
Series: Working Paper No. 06/113
Date: May 1, 2006
Subject(s): Gross domestic product | Papua New Guinea | Economic growth | Productivity | Investment | Structural adjustment | Business cycles
Author's keyword(s): GDP Growth | total factor productivity | Papua New Guinea

Title: A Framework for Independent Monetary Policy in China
Author/Editor: Goodfriend, Marvin ; Prasad, Eswar
Series: Working Paper No. 06/111
Date: May 1, 2006
Subject(s): Monetary policy | China | Flexible exchange rates | Inflation targeting | Financial sector | Bank reforms | Central bank policy | Central bank role | Money supply | Financial systems | Transition economies | China, People's Republic of
Author's keyword(s): Exchange rate flexibility | inflation targeting | financial sector reforms

Title: Donor Herding and Domestic Debt Crisis
Author/Editor: Khamfula, Yohane Anthony ; Mlachila, Montfort ; Chirwa, Ephraim W.
Series: Working Paper No. 06/109
Date: April 1, 2006
Subject(s): Domestic debt | Low income developing countries | Government expenditures | Economic models
Author's keyword(s): Donor herding behavior | domestic debt crisis | loan-pushing model | domestic-debt repayment gap | fiscal expediture

Title: Idiosyncratic and Systemic Risk in the European Corporate Sector: A CDO Perspective
Author/Editor: Chan-Lau, Jorge A. ; Lu, Yinqiu
Series: Working Paper No. 06/107
Date: April 1, 2006
Subject(s): Financial risk | Europe | Credit risk | Risk management | Financial sector | Debt | Credit tranches | Asset prices | International capital markets | Corporate sector
Author's keyword(s): Systemic risk | idiosyncratic risk | credit derivatives | credit derivatives indices | collateralized debt obligations | tranches

Title: A New Risk Indicator and Stress Testing Tool: A Multifactor Nth-to-Default CDS Basket
Author/Editor: Avesani, Renzo G. ; Garcia Pascual, Antonio ; Li, Jing
Series: Working Paper No. 06/105
Date: April 1, 2006
Subject(s): Risk management | Economic indicators | Debt | Credit risk | Financial institutions | Investment policy | Commodity pricing policy | International capital markets | Banks | Economic models
Author's keyword(s): Risk management | market indicators | stress testing | credit default swap (CDS) | collateralized debt obligation (CDO) | credit risk | large complex financial institutions (LCFIs)

Title: Mind the Gap - Is Economic Growth in India Leaving Some States Behind?
Author/Editor: Purfield, Catriona
Series: Working Paper No. 06/103
Date: April 1, 2006
Subject(s): Economic growth | India | Economic reforms | Income distribution
Author's keyword(s): Conversions | state level growth | economic reforms

Title: Sudden Stops and IMF-Supported Programs
Author/Editor: Eichengreen, Barry J. ; Gupta, Poonam ; Mody, Ashoka
Series: Working Paper No. 06/101
Date: April 1, 2006
Subject(s): Fund-supported adjustment programs | Insurance | Capital flows | Capital account
Author's keyword(s): Sudden stops | insurance | IMF - supported programs

Title: Determinants of Public-Private Partnerships in Infrastructure
Author/Editor: Hammami, Mona ; Ruhashyankiko, Jean-François ; Yehoue, Etienne B.
Series: Working Paper No. 06/99
Date: April 1, 2006
Subject(s): Infrastructure | Public sector | Private sector | Capital | Budgeting | Investment policy
Author's keyword(s): Public-Private Partnerships | Infrastructures | Capital Budgeting | Investment Policy

Title: Core Inflation Measures and Statistical Issues in Choosing Among Them
Author/Editor: Silver, Mick
Series: Working Paper No. 06/97
Date: April 1, 2006
Subject(s): Inflation | Consumer price indexes | Inflation targeting | Economic models
Author's keyword(s): Core Inflation; Core CPI; Inflation Targeting

Title: Macroeconomic Effects and Policy Challenges of Population Aging
Author/Editor: Tamirisa, Natalia T. ; Faruqee, Hamid
Series: Working Paper No. 06/95
Date: April 1, 2006
Subject(s): Aging | Czech Republic | Economic growth | Economic models | Labor policy | Population
Author's keyword(s): Population | aging | simulation | general equilibrium model

Title: The Tax System in India: Could Reform Spur Growth?
Author/Editor: Poirson, Hélène
Series: Working Paper No. 06/93
Date: April 1, 2006
Subject(s): Economic growth | India | Tax policy | Tax reforms | Indirect taxation | Tax rates
Author's keyword(s): Growth | tax policy | tax reform

Title: Distributional Effects of Oil Price Changes on Household Expenditures: Evidence from Mali
Author/Editor: Kpodar, Kangni
Series: Working Paper No. 06/91
Date: March 1, 2006
Subject(s): Oil prices | Mali | Income distribution | Oil subsidies
Author's keyword(s): Oil; subsidies; input-output analysis; household welfare

Title: Options for Fiscal Consolidation in the United Kingdom
Author/Editor: Botman, Dennis P. J. ; Honjo, Keiko
Series: Working Paper No. 06/89
Date: March 1, 2006
Subject(s): Fiscal reforms | Government expenditures | Public debt | Savings promotion | Tax increases | Tax reforms | United Kingdom
Author's keyword(s): Fiscal consolidation | finite lives | distortionary taxes | government debt

Title: Hong Kong Special Administrative Region: Macroeconomic Impact of an Aging Population in a Highly Open Economy
Author/Editor: Leigh, Lamin
Series: Working Paper No. 06/87
Date: March 1, 2006
Subject(s): Aging | Fiscal policy | Health care | Hong Kong SAR | Labor productivity
Author's keyword(s): Aging | productivity growth | fiscal impact | health care costs