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December 2007
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Title:
Energy Efficiency and Renewable Energy Supply for the G-7 Countries, With Emphasis on Germany
Author/Editor: Strand, Jon
Series: Working Paper No. 07/299
Date: December 1, 2007
Subject(s): Energy | Group of seven | Germany | Spain | Energy policy | Energy taxes
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Title:
How has the Globalization of Labor Affected the Labor Income Share in Advanced Countries?
Author/Editor: Jaumotte, Florence ; Tytell, Irina
Series: Working Paper No. 07/298
Date: December 1, 2007
Subject(s): Globalization | Labor | Labor markets | International trade | Immigration | Information technology
Author's keyword(s):
Globalization
| offshoring
| outsourcing
| international trade
| immigration
| information technology
| labor
| labor share
| skills
| translog revenue function
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Title:
Sovereign Wealth Funds in the Pacific Island Countries: Macro-Fiscal Linkages
Author/Editor: Le Borgne, Eric ; Medas, Paulo A.
Series: Working Paper No. 07/297
Date: December 1, 2007
Subject(s): Sovereign wealth funds | Pacific Island Countries | Fiscal policy | Economic stabilization
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Title:
Equilibrium Exchange Rates: Assessment Methodologies
Author/Editor: Isard, Peter
Series: Working Paper No. 07/296
Date: December 1, 2007
Author's keyword(s):
Equilibrium exchange rates
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Title:
Modeling Inflation for Mali
Author/Editor: Diouf, Mame Astou
Series: Working Paper No. 07/295
Date: December 1, 2007
Subject(s): Inflation | Mali | Real effective exchange rates | Demand for money
Author's keyword(s):
Mali
| inflation
| money demand
| real exchange rate
| food supply
| cointegration
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Title:
Is Brazil Different? Risk, Dollarization, and Interest Rates in Emerging Markets
Author/Editor: Bacha, Edmar L. ; Holland, Márcio ; Gonçalves, Fernando M.
Series: Working Paper No. 07/294
Date: December 1, 2007
Subject(s): Dollarization | Brazil | Interest rates | Emerging markets
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Title:
Do Reserve Portfolios Respond to Exchange Rate Changes Using a Portfolio Rebalancing Strategy? An Econometric Study Using COFER Data
Author/Editor: Lim, Ewe-Ghee
Series: Working Paper No. 07/293
Date: December 1, 2007
Subject(s): Exchange rates | Reserves | euro | U.S. dollar | Exchange markets
Author's keyword(s):
Reserves
| portfolio rebalancing
| Dollars
| Euros
| COFER
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Title:
Border and Behind-the-Border Trade Barriers and Country Exports
Author/Editor: Sadikov, Azim M.
Series: Working Paper No. 07/292
Date: December 1, 2007
Subject(s): Trade policy | Exports | Tariffs
Author's keyword(s):
Trade policy
| exports
| export signatures
| differentiated products
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Title:
Use of Participatory Notes in Indian Equity Markets and Recent Regulatory Changes
Author/Editor: Singh, Manmohan
Series: Working Paper No. 07/291
Date: December 1, 2007
Subject(s): Hedge funds | India | Foreign investment
Author's keyword(s):
participatory notes
| SEBI
| Hedge Funds
| India
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Title:
Stochastic Volatilities and Correlations, Extreme Values and Modeling the Macroeconomic Environment, Under Which Brazilian Banks Operate
Author/Editor: Barnhill, Theodore M. ; Souto, Marcos
Series: Working Paper No. 07/290
Date: December 1, 2007
Subject(s): Emerging markets | Brazil | Banks | Interest rates | Credit risk
Author's keyword(s):
Forecasting
| multivariate stochastic volatility
| fat-tail distributions
| Monte Carlo estimation
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Title:
Government for the People: On the Determinants of the Size of U.S. Government
Author/Editor: Bayoumi, Tamim ; Gonçalves, Fernando M.
Series: Working Paper No. 07/289
Date: December 1, 2007
Subject(s): Government expenditures | United States | Education | Tax systems
Author's keyword(s):
Government size
| demographic structure
| education spending
| United States
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Title:
Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic
Author/Editor: Shah, Hemant ; Carvajal, Ana ; Bannister, Geoffrey J. ; Chan-Lau, Jorge A. ; Guerra, Ivan
Series: Working Paper No. 07/288
Date: December 1, 2007
Subject(s): Debt | Costa Rica | Dominican Republic | El Salvador | Guatemala | Honduras | Nicaragua | Panama | Capital markets | Securities regulations
Author's keyword(s):
Central America
| equity
| debt
| securitization
| financial integration
| capital market development
| securities regulation
| Costa Rica
| Dominican Republic
| El Salvador
| Guatemala
| Honduras
| Nicaragua
| Panama
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Title:
Testing for Purchasing Power Parity in Cointegrated Panels
Author/Editor: Carlsson, Mikael ; Lyhagen, Johan ; Österholm, Pär
Series: Working Paper No. 07/287
Date: December 1, 2007
Subject(s): Purchasing power parity
Author's keyword(s):
Panel cointegration
| maximum likelihood
| fully modified OLS
| dynamic OLS
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Title:
Buoyant Capital Spending and Worries over Real Appreciation: Cold Facts from Algeria
Author/Editor: Loko, Boileau ; Kpodar, Kangni ; Diallo, Oumar
Series: Working Paper No. 07/286
Date: December 1, 2007
Subject(s): Government expenditures | Algeria | Oil | Real effective exchange rates
Author's keyword(s):
Government capital expenditure
| real exchange rate
| oil
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Title:
The Monetary Transmission Mechanism in Egypt
Author/Editor: Al-Mashat, Rania A. ; Billmeier, Andreas
Series: Working Paper No. 07/285
Date: December 1, 2007
Subject(s): Monetary policy | Egypt, Arab Republic of | Inflation targeting | Exchange rates | Egypt
Author's keyword(s):
Egypt
| monetary transmission mechanism
| monetary policy
| inflation targeting
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Title:
Solving for Country Portfolios in Open Economy Macro Models
Author/Editor: Devereux, Michael B. ; Sutherland, Alan
Series: Working Paper No. 07/284
Date: December 1, 2007
Subject(s): Payments imbalances | Markets | Trade | Bonds
Author's keyword(s):
Country portfolios
| solution methods
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Title:
Country Portfolio Dynamics
Author/Editor: Devereux, Michael B. ; Sutherland, Alan
Series: Working Paper No. 07/283
Date: December 1, 2007
Subject(s): Bonds | International bond markets
Author's keyword(s):
Country portfolios
| solution methods
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Title:
An Estimated DSGE Model for Monetary Policy analysis in Low-Income Countries
Author/Editor: Peiris, Shanaka J. ; Saxegaard, Magnus
Series: Working Paper No. 07/282
Date: December 1, 2007
Subject(s): Monetary policy | Africa | Currency pegs | Inflation targeting | Low-income developing countries
Author's keyword(s):
Monetary Policy
| DSGE
| Bayesian Estimation
| Africa
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Title:
International Diversification Gains and Home Bias in Banking
Author/Editor: García-Herrero, Alicia ; Vázquez, Francisco F.
Series: Working Paper No. 07/281
Date: December 1, 2007
Subject(s): International banking | Bonds | Bank regulations | Emerging markets
Author's keyword(s):
International banking
| home bias
| portfolio diversification
| Basel II
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Title:
Changing Nature of North-South Linkages: Stylized Facts and Explanations
Author/Editor: Akin, Çigdem ; Kose, M. Ayhan
Series: Working Paper No. 07/280
Date: December 1, 2007
Subject(s): Emerging markets | Globalization | International trade | Capital flows | Economic growth
Author's keyword(s):
Business cycles
| emerging markets
| growth linkages
| north
| south
| globalization
| decoupling
| divergence
| convergence
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Title:
High Growth and Low Consumption in East Asia: How to Improve Welfare While Avoiding Financial Failures
Author/Editor: Feltenstein, Andrew ; Rochon, Céline ; Shamloo, Maral
Series: Working Paper No. 07/278
Date: December 1, 2007
Subject(s): Economic growth | China, People's Republic of | Consumption | Financial crisis | Exchange rates | Labor markets
Author's keyword(s):
Growth
| financial failures
| China
| general equilibrium
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Title:
Empirical Evidence on the New International Aid Architecture
Author/Editor: Claessens, Stijn ; Cassimon, Danny ; Campenhout, Bjorn Van
Series: Working Paper No. 07/277
Date: December 1, 2007
Subject(s): Development assistance | Debt relief | Heavily indebted poor countries | Poverty Reduction Strategy Papers
Author's keyword(s):
Development aid
| aid allocation
| selectivity; debt relief; HIPC; PRSP; aid architecture.
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Title:
Estimating Iceland's Real Equilibrium Exchange Rate
Author/Editor: Tchaidze, Robert
Series: Working Paper No. 07/276
Date: December 1, 2007
Subject(s): Real effective exchange rates | Iceland | Commodities | Trade
Author's keyword(s):
Real Exchange Rate
| Disequilibrium
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Title:
How Well Do Aggregate Bank Ratios Identify Banking Problems?
Author/Editor: Cihák, Martin ; Schaeck, Klaus
Series: Working Paper No. 07/275
Date: December 1, 2007
Subject(s): Banks | Financial crisis | Financial soundness indicators | Economic models
Author's keyword(s):
Financial soundness indicators
| banking crises
| macroprudential analysis
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Title:
Tax Policy: Recent Trends and Coming Challenges
Author/Editor: Norregaard, John ; Khan, Tehmina S.
Series: Working Paper No. 07/274
Date: December 1, 2007
Subject(s): Tax policy | Tax reforms | Income taxes | Value added tax
Author's keyword(s):
Tax reform
| personal income tax
| corporate income tax
| value-added tax
| tax wedge
| tax competition
| green taxes
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Title:
Do Remittances to Latin America Depend on the U.S. Business Cycle?
Author/Editor: Roache, Shaun K. ; Gradzka, Ewa
Series: Working Paper No. 07/273
Date: December 1, 2007
Subject(s): Workers remittances | Latin America | Labor markets
Author's keyword(s):
Remittances
| business cycles
| Latin America
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Title:
The Bank Lending Channel of Monetary Transmission: Does It Work in Turkey?
Author/Editor: Koeva Brooks, Petya
Series: Working Paper No. 07/272
Date: December 1, 2007
Subject(s): Liquidity | Turkey | Interest rates on loans
Author's keyword(s):
Bank lending
| monetary transmission
| liquidity
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Title:
Simple Monetary Rules Under Fiscal Dominance
Author/Editor: Kumhof, Michael ; Nunes, Ricardo ; Yakadina, Irina
Series: Working Paper No. 07/271
Date: December 1, 2007
Subject(s): Monetary policy | Inflation | Interest rates | Debt | Government expenditures
Author's keyword(s):
Optimal simple policy rules
| fiscal dominance
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November 2007
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Title:
Effect of Corruption on Tax Revenues in the Middle East
Author/Editor: Imam, Patrick A. ; Jacobs, Davina F.
Series: Working Paper No. 07/270
Date: November 1, 2007
Subject(s): Corruption | Middle East | Tax revenues | Taxes | Tax systems | Tax administration
Author's keyword(s):
Corruption
| governance
| revenue administration
| taxation
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Title:
Is Inflation in India an Attractor of Inflation in Nepal?
Author/Editor: Ginting, Edimon
Series: Working Paper No. 07/269
Date: November 1, 2007
Subject(s): Inflation | Nepal | India | Currency pegs
Author's keyword(s):
Nepal
| India
| inflation
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Title:
What Explains India's Real Appreciation?
Author/Editor: Kohli, Renu ; Mohapatra, Sudip
Series: Working Paper No. 07/268
Date: November 1, 2007
Subject(s): Inflation | India | Real effective exchange rates | Exchange rate policy | Productivity
Author's keyword(s):
Tradable
| nontradable
| inflation
| real exchange
| appreciation
| exchange rate policy
| productivity
| macroeconomic policy
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Title:
Estimating Spillover Risk Among Large EU Banks
Author/Editor: Cihák, Martin ; Ong, Li L.
Series: Working Paper No. 07/267
Date: November 1, 2007
Subject(s): Financial stability | European Union | Banking systems
Author's keyword(s):
European Union
| financial stability
| spillovers
| contagion
| large banks
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Title:
China's Changing Trade Elasticities
Author/Editor: Aziz, Jahangir ; Li, Xiangming
Series: Working Paper No. 07/266
Date: November 1, 2007
Subject(s): Trade | China, People's Republic of | Balance of trade | Exchange rates
Author's keyword(s):
Trade
| elasticity
| exchange rate
| trade balance
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Title:
The Optimal Level of Foreign Reserves in Financially Dollarized Economies: The Case of Uruguay
Author/Editor: Gonçalves, Fernando M.
Series: Working Paper No. 07/265
Date: November 1, 2007
Subject(s): Foreign exchange reserves | Uruguay | Dollarization | Financial crisis | Crisis prevention
Author's keyword(s):
Foreign Reserves
| Balance of Payments Crises
| Sudden Stops
| Bank Runs
| Financial Dollarization.
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Title:
The Use of Encompassing Tests for Forecast Combinations
Author/Editor: Kisinbay, Turgut
Series: Working Paper No. 07/264
Date: November 1, 2007
Subject(s): Forecasting models | Economic forecasting
Author's keyword(s):
Forecast combination
| forecast encompassing
| thick-modeling
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Title:
Education and Health in G7 Countries: Achieving Better Outcomes with Less Spending
Author/Editor: Verhoeven, Marijn ; Gunnarsson, Victoria ; Carcillo, Stéphane
Series: Working Paper No. 07/263
Date: November 1, 2007
Subject(s): Education | Health care | Wages | Public sector | Government expenditures
Author's keyword(s):
Expenditure efficiency
| health sector reform
| education sector reform
| G7
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Title:
Financial Linkages Between the U.S. and Latin Amercia: Evidence from Daily Data
Author/Editor: Benelli, Roberto ; Ganguly, Srideep
Series: Working Paper No. 07/262
Date: November 1, 2007
Subject(s): Capital markets | United States | Latin America | Financial crisis | Stock markets | Flexible exchange rates
Author's keyword(s):
Financial linkages
| Latin America
| U.S. Shocks
| financial markets
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Title:
Effect of IMF Structural Adjustment Programs on Expectations: The Case of Transition Economies
Author/Editor: Imam, Patrick A.
Series: Working Paper No. 07/261
Date: November 1, 2007
Subject(s): Structural adjustment | Transition economies | Capital flows
Author's keyword(s):
Structural adjustment
| transition economies
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Title:
EU Framework for Safeguarding Financial Stability: Towards an Analytical Benchmark for Assessing its Effectiveness
Author/Editor: Nieto, María ; Schinasi, Garry J.
Series: Working Paper No. 07/260
Date: November 1, 2007
Subject(s): Financial crisis | Europe | Burden sharing | Social safety nets | Financial systems
Author's keyword(s):
Safeguarding EU financial stability
| crisis resolution
| burden sharing
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Title:
Strengths and Weaknesses in Securities Market Regulation: A Global Analysis
Author/Editor: Carvajal, Ana ; Elliott, Jennifer A.
Series: Working Paper No. 07/259
Date: November 1, 2007
Subject(s): Securities markets | Securities regulations
Author's keyword(s):
Securities markets
| securities markets regulation
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Title:
The Duration of Capital Account Crises--An Empirical Analysis
Author/Editor: Mecagni, Mauro ; Atoyan, Ruben ; Hofman, David ; Tzanninis, Dimitri
Series: Working Paper No. 07/258
Date: November 1, 2007
Subject(s): Financial crisis | Capital account
Author's keyword(s):
Capital account crises
| duration
| crises identification
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Title:
Can Domestic Policies Influence Inflation?
Author/Editor: Mody, Ashoka ; Ohnsorge, Franziska
Series: Working Paper No. 07/257
Date: November 1, 2007
Subject(s): Inflation | Globalization | Euro | Markets
Author's keyword(s):
Inflation
| Globalization
| Price convergence
| Maastricht criterion
| Euro adoption.
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Title:
Local Currency Debt Markets in the West African Economic and Monetary Union
Author/Editor: Sy, Amadou N. R.
Series: Working Paper No. 07/256
Date: November 1, 2007
Subject(s): West African Economic and Monetary Union | Debt | Bonds | Debt management | Excess liquidity
Author's keyword(s):
BCEAO
| bonds
| CFA franc
| debt
| treasury bills
| WAEMU
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Title:
Mainstreaming Statistics in the Poverty Reduction Strategy Approach to Provide for More Effective Technical Assistance: Some Experience at the IMF
Author/Editor: Kibuka, Robin D.
Series: Working Paper No. 07/255
Date: November 1, 2007
Subject(s): Poverty reduction strategy | Poverty Reduction Strategy Papers | Technical assistance | Fund
Author's keyword(s):
PRSP
| statistical strategies
| evidence-based monitoring
| MTEF
| technical assistance
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Title:
Consistent Quantitative Operational Risk Measurement and Regulation: Challenges of Model Specification, Data Collection, and Loss Reporting
Author/Editor: Jobst, Andreas
Series: Working Paper No. 07/254
Date: November 1, 2007
Subject(s): Risk management | Bank regulations | Globalization | Banking systems
Author's keyword(s):
Risk management
| operational risk
| financial regulation
| bank regulation
| Basel Committee
| Basel II
| New Basel Capital Accord
| fat tail behavior
| extreme tail behavior
| extreme value theory
| g-and-h distribution
| AMA
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Title:
Financial Development in Emerging Europe: The Unfinished Agenda
Author/Editor: Zoli, Edda
Series: Working Paper No. 07/245
Date: November 1, 2007
Subject(s): Emerging markets | Europe | Securities markets | Governance
Author's keyword(s):
Financial development
| emerging economies
| Europe
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Title:
Finance and Convergence: What's Ahead for Emerging Europe?
Author/Editor: Bems, Rudolfs ; Schellekens, Philip
Series: Working Paper No. 07/244
Date: November 1, 2007
Subject(s): Current account balances | Financial systems | Capital flows | Emerging markets | Financial risk
Author's keyword(s):
International finance
| convergence
| general equilibrium
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October 2007
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Title:
Optimal Taxation in the Forestry Sector in the Congo Basin: The Case of Gabon
Author/Editor: Melhado, Oscar E.
Series: Working Paper No. 07/253
Date: October 1, 2007
Subject(s): Forestry | Gabon | Taxation | Economic models
Author's keyword(s):
Forestry sector
| optimal taxation
| Gabon
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Title:
Why Focus on Spending Needs Factors? The Political Economy of Fiscal Transfer Reforms in Mexico
Author/Editor: Ahmad, Ehtisham ; González Anaya, José Antonio ; Brosio, Giorgio ; Garcia-Escribano, Mercedes ; Lockwood, Ben ; Revilla, Ernesto
Series: Working Paper No. 07/252
Date: October 1, 2007
Subject(s): Fiscal policy | Mexico | Government expenditures | Public sector | Economic reforms | Political economy
Author's keyword(s):
Intergovernmental fiscal relations
| tranfers
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Title:
Capital Account Liberalization and Risk Management in India
Author/Editor: Sy, Amadou N. R.
Series: Working Paper No. 07/251
Date: October 1, 2007
Subject(s): Capital account convertibility | India | Risk management
Author's keyword(s):
India
| capital account
| convertibility
| liberalization
| risk management
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Title:
The Markets in Financial Instruments Directive: Banking on Market and Supervisory Efficiency
Author/Editor: Haas, François
Series: Working Paper No. 07/250
Date: October 1, 2007
Subject(s): Financial integration | European Union | Liquidity | Securities regulations | Stock markets | Capital markets
Author's keyword(s):
Best execution
| European Union
| financial integration
| market liquidity
| securities supervision
| stock exchanges
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Title:
GCC Monetary Union and the Degree of Macroeconomic Policy Coordination
Author/Editor: Kamar, Bassem ; Naceur, Samy Ben
Series: Working Paper No. 07/249
Date: October 1, 2007
Subject(s): Working Paper | Cooperation Council for the Arab States of the Gulf | Monetary unions | Monetary policy | Financial integration | Foreign exchange | Economic policy | Central bank policy
Author's keyword(s):
Models with panel data
| central banks and their policies
| analysis of fiscal and monetary policy
| economic integration
| foreign exchange
| policy coordination and transmission
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Title:
Decomposing Financial Risks and Vulnerabilities in Eastern Europe
Author/Editor: Maechler, Andrea M. ; Mitra, Srobona ; Worrell, DeLisle
Series: Working Paper No. 07/248
Date: October 1, 2007
Subject(s): Financial risk | Europe | Bank soundness | Bank supervision | Economic models
Author's keyword(s):
Financial stability; European Union
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Title:
Policy Challenges of Population Aging in Ireland
Author/Editor: Botman, Dennis P. J. ; Iakova, Dora M.
Series: Working Paper No. 07/247
Date: October 1, 2007
Subject(s): Pension regulations | Ireland | Aging | Government expenditures | Public debt | Fiscal policy | Tax bases | Economic models
Author's keyword(s):
Aging
| simulation
| taxation
| general equilibrium
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Title:
Benchmarking the Efficiency of Public Expenditure in the Russian Federation
Author/Editor: Hauner, David
Series: Working Paper No. 07/246
Date: October 1, 2007
Subject(s): Government expenditures | Russian Federation | Public sector | Productivity | Governance | Fiscal analysis
Author's keyword(s):
Government expenditure
| public sector efficiency
| fiscal federalism
| Russia
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Title:
Implications of Oil Inflows for Savings and Reserve Management in the CEMAC
Author/Editor: Drummond, Paulo Flavio Nacif
Series: Working Paper No. 07/243
Date: October 1, 2007
Subject(s): Central African Economic and Monetary Community | Oil revenues | Fiscal policy | Reserves adequacy | Reserves accumulation | Savings | Central bank policy
Author's keyword(s):
Oil inflows
| Foreign Reserves
| Reserve Management.
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Title:
A Markov-Switching Approach to Measuring Exchange Market Pressure
Author/Editor: Kumah, Francis Y.
Series: Working Paper No. 07/242
Date: October 1, 2007
Subject(s): Exchange rate regimes | Monetary policy | Price stabilization | Kyrgyz Republic | Economic models
Author's keyword(s):
Exchange market pressure
| Markov-switching models
| monetary policy
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Title:
Alternative Fiscal Rules for Norway
Author/Editor: Jafarov, Etibar ; Leigh, Daniel
Series: Working Paper No. 07/241
Date: October 1, 2007
Subject(s): Fiscal policy | Norway | Oil revenues | Pensions
Author's keyword(s):
Fiscal rules
| Norway
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Title:
Operational Risk--The Sting is Still in the Tail but the Poison Depends on the Dose
Author/Editor: Jobst, Andreas
Series: Working Paper No. 07/239
Date: October 1, 2007
Subject(s): Financial risk | Bank regulations | Risk management | Economic models
Author's keyword(s):
Operational risk
| risk management
| financial regulation
| Basel committe
| Basel II
| New Basel Capital Accord
| extreme value theory
| generalized extreme value (GEV) distribution
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Title:
How Does Financial Globalization Affect Risk Sharing? Patterns and Channels
Author/Editor: Kose, M. Ayhan ; Prasad, Eswar ; Terrones, Marco
Series: Working Paper No. 07/238
Date: October 1, 2007
Subject(s): Financial integration | Globalization | Developing countries | Financial risk
Author's keyword(s):
Financial integration
| globalization
| developing countries
| risk sharing
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Title:
Sukuk vs. Eurobonds: Is There a Difference in Value-at-Risk?
Author/Editor: Cakir, Selim ; Raei, Faezeh
Series: Working Paper No. 07/237
Date: October 1, 2007
Subject(s): Islamic banking | Bonds | Eurobond market | Investment
Author's keyword(s):
Islamic finance
| Sukuk
| Sharia-Compliance
| Eurobonds
| Value-at-Risk
| Diversification
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Title:
Vulnerabilities in Emerging Southeastern Europe--How Much Cause for Concern?
Author/Editor: Sorsa, Piritta ; Bakker, Bas Berend ; Duenwald, Christoph ; Maechler, Andrea M. ; Tiffin, Andrew
Series: Working Paper No. 07/236
Date: October 1, 2007
Subject(s): Economic indicators | Europe | Capital inflows | Emerging markets | Adjustment process | Crisis prevention
Author's keyword(s):
Vulnerability indicators
| balance sheet analysis
| sudden stops
| capital inflows
| emerging markets
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Title:
Toward a Robust Fiscal Framework for Iceland: Motivation and Practical Suggestions
Author/Editor: Annett, Anthony
Series: Working Paper No. 07/235
Date: October 1, 2007
Subject(s): Fiscal policy | Iceland | Government expenditures | Political economy | Finland
Author's keyword(s):
Fiscal policy
| procyclicality
| political economy
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Title:
Hedonic Imputation versus Time Dummy Hedonic Indexes
Author/Editor: Diewert, W. E. ; Heravi, Saeed ; Silver, Mick
Series: Working Paper No. 07/234
Date: October 1, 2007
Subject(s): Inflation | Consumer price indexes | Economic models
Author's keyword(s):
Hedonic regressions
| hedonic indexes
| consumer price indexes
| superlative indexes
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Title:
Measuring Sovereign Risk in Turkey: An Application of the Contingent Claims Approach
Author/Editor: Keller, Christian ; Kunzel, Peter ; Souto, Marcos
Series: Working Paper No. 07/233
Date: October 1, 2007
Subject(s): Public debt | Turkey | Credit risk | Economic indicators | Economic models
Author's keyword(s):
Turkey
| Sovereign Risk
| Contingent Claims
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Title:
Fiscal Reaction Functions in the CFA Zone: An Analytical Perspective
Author/Editor: Adedeji, Olumuyiwa ; Williams, Oral
Series: Working Paper No. 07/232
Date: October 1, 2007
Subject(s): Fiscal policy | Central African Economic and Monetary Community | West African Economic and Monetary Union | Debt sustainability analysis | Economic growth | Economic models
Author's keyword(s):
CFA Zone
| Debt Sustainability
| Convergence
| Fiscal Policy
| Economic Model
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September 2007
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Title:
Overcoming Barriers to Reform: On Incentive-Compatible International Assistance
Author/Editor: Mourmouras, Alex ; Mayer, Wolfgang
Series: Working Paper No. 07/231
Date: September 1, 2007
Subject(s): Working Paper | Economic reforms | Development assistance
Author's keyword(s):
Economic reforms
| international assistance
| incentives
| optimal contracts
| special interest groups
| moral hazard
| adverse selection
| sovereign default
| political instability
|
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Title:
The Equity Premium Puzzle, Ambiguity Aversion, and Institutional Quality
Author/Editor: Erbas, S. Nuri ; Mirakhor, Abbas
Series: Working Paper No. 07/230
Date: September 1, 2007
Subject(s): Working Paper | Risk premium | Stock prices
Author's keyword(s):
Equity premium
| Risk and Knightian Uncertainty
| ambiguity aversion
|
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Title:
Capital Market Development in a Small Country: The Case of Slovenia
Author/Editor: Andritzky, Jochen R.
Series: Working Paper No. 07/229
Date: September 1, 2007
Subject(s): Capital markets | Slovenia | Financial integration | Small states
Author's keyword(s):
Capital market development
| Slovenia
|
| |
|
Title:
The Determinants of Corporate Risk in Emerging Markets: An Option-Adjusted Spread Analysis
Author/Editor: Cavallo, Eduardo A. ; Valenzuela, Patricio
Series: Working Paper No. 07/228
Date: September 1, 2007
Subject(s): Credit risk | Corporate sector | Bonds | Emerging markets | Interest
Author's keyword(s):
Corporate bond spreads
| sovereign ceiling
| default risk
| emerging market
|
| |
|
Title:
Public Financial Institutions in Developed Countries - Organization and Oversight
Author/Editor: Ratnovski, Lev ; Narain, Aditya
Series: Working Paper No. 07/227
Date: September 1, 2007
Subject(s): Financial institutions | Developed countries | Bank regulations | Bank supervision | Public sector
Author's keyword(s):
Financial Institutions
| Banking Regulations
| Banking Supervision
|
| |
|
Title:
The Health Sector in the Slovak Republic: Efficiency and Reform
Author/Editor: Verhoeven, Marijn ; Gunnarsson, Victoria ; Lugaresi, Sergio
Series: Working Paper No. 07/226
Date: September 1, 2007
Subject(s): Health care | Slovak Republic
Author's keyword(s):
Expenditure efficiency
| health sector reform
|
| |
|
Title:
Sri Lanka's Sources of Growth
Author/Editor: Duma, Nombulelo
Series: Working Paper No. 07/225
Date: September 1, 2007
Subject(s): Economic growth | Sri Lanka | Productivity | Capital accumulation
Author's keyword(s):
Growth accounting
| total factor productivity
| Sri Lanka
|
| |
|
Title:
Wild or Tamed?: India's Potential Growth
Author/Editor: Oura, Hiroko
Series: Working Paper No. 07/224
Date: September 1, 2007
Subject(s): Economic growth | India | Economic forecasting | Gross domestic product | Economic reforms | Productivity
Author's keyword(s):
India
| potential growth
| economic growth
|
| |
|
Title:
Can Miracles Lead to Crises? The Role of Optimism in Emerging Markets Crises
Author/Editor: Boz, Emine
Series: Working Paper No. 07/223
Date: September 1, 2007
Subject(s): Financial crisis | Emerging markets | Investment | Foreign investment | Consumption | Asset prices | Economic models
Author's keyword(s):
Financial crises
| emerging markets
| informational frictions
| learning
|
| |
|
Title:
Fiscal Management of Scaled-Up Aid
Author/Editor: Gupta, Sanjeev ; Schwartz, Gerd ; Tareq, Shamsuddin ; Allen, Richard ; Adenauer, Isabell ; Fletcher, Kevin ; Last, Duncan
Series: Working Paper No. 07/222
Date: September 1, 2007
Subject(s): Development assistance | Fiscal policy | Public finance | Government expenditures | Fund policies
Author's keyword(s):
Foreign aid
| expenditure policy
| public financial management
|
| |
|
Title:
India: Asset Prices and the Macroeconomy
Author/Editor: Purfield, Catriona
Series: Working Paper No. 07/221
Date: September 1, 2007
Subject(s): India | Asset prices | Monetary policy
Author's keyword(s):
Asset prices
| monetary policy
| wealth effects
|
| |
|
Title:
The Role of Fiscal Transparency in Sustaining Stability and Growth in Latin America
Author/Editor: Parry, Taryn
Series: Working Paper No. 07/220
Date: September 1, 2007
Subject(s): Latin America | Fiscal transparency | Fiscal management | Economic stabilization | Economic growth
Author's keyword(s):
Macroeconomic stability
| fiscal transparency
| fiscal management
|
| |
|
Title:
Political Budget Cycles in Papua New Guinea
Author/Editor: Faal, Ebrima
Series: Working Paper No. 07/219
Date: September 1, 2007
Subject(s): Government expenditures | Papua New Guinea | Budget deficits | Business cycles | Political economy
Author's keyword(s):
Economic cycles
| fiscal policy
| politics
| Papua New Guinea
|
| |
|
Title:
Ethnic Diversity, Democracy, and Corruption
Author/Editor: Yehoue, Etienne B.
Series: Working Paper No. 07/218
Date: September 1, 2007
Subject(s): Corruption | Governance | Economic models
Author's keyword(s):
Corruption
| Ethnic Fractionalization
| Democracy
|
| |
|
Title:
Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices
Author/Editor: Lama, Ruy ; Medina Guzman, Juan Pablo
Series: Working Paper No. 07/217
Date: September 1, 2007
Subject(s): Monetary policy | Prices | Financial assets | Markets | Economic models
Author's keyword(s):
Optimal monetary policy
| asset market segmentation
| sticky prices
|
| |
|
Title:
Banking Competition and Capital Ratios
Author/Editor: Schaeck, Klaus ; Cihák, Martin
Series: Working Paper No. 07/216
Date: September 1, 2007
Subject(s): Banks | Capital | Competition | Bank supervision | Industrial structure
Author's keyword(s):
Bank capital ratios; competition; market structure; regulation
|
| |
|
Title:
Bank Ownership, Market Structure and Risk
Author/Editor: De Nicoló, Gianni ; Loukoianova, Elena
Series: Working Paper No. 07/215
Date: September 1, 2007
Subject(s): Banks | Corporate sector | Financial risk | Bankruptcy | Industrial structure
Author's keyword(s):
Bank ownership
| concentration
| risk
|
| |
|
Title:
The Shifting Structure of China's Trade and Production
Author/Editor: Cui, Li ; Syed, Murtaza H.
Series: Working Paper No. 07/214
Date: September 1, 2007
Subject(s): Working Paper | Balance of trade | China | Production | Exchange rates | Imports | Exports | Exchange rate instability | Industrial structure | China, People's Republic of
Author's keyword(s):
Value added
| processing trade
|
| |
|
Title:
Inter-Sectoral Linkages and Local Content in Extractive Industries and Beyond--The Case of Sao Tome and Principe
Author/Editor: Klueh, Ulrich H. ; Pastor, Gonzalo C. ; Segura, Alonso ; Zarate, Walter
Series: Working Paper No. 07/213
Date: September 1, 2007
Subject(s): Industrial policy | Sao Tome and Principe | Oil sector | São Tomé and Príncipe
Author's keyword(s):
Oil Sector
| Local content
| Industrial policies
| Imput-Output tables
|
| |
|
August 2007
|
| |
|
Title:
Competitiveness in the CFA Franc Zone
Author/Editor: Ramirez, Gustavo ; Tsangarides, Charalambos G.
Series: Working Paper No. 07/212
Date: August 1, 2007
Subject(s): Export competitiveness | CFA franc | Exports | West African Economic and Monetary Union | Central African Economic and Monetary Community
Author's keyword(s):
Competitiveness
| CFA franc
| WAEMU
| CEMAC
|
| |
|
Title:
What Drives China's Growing Role in Africa?
Author/Editor: Wang, Jian-Ye
Series: Working Paper No. 07/211
Date: August 1, 2007
Subject(s): Trade | China | Africa | Development assistance | Capital flows | China, People's Republic of
Author's keyword(s):
Trade
| Aid
| Capital Flows
| Africa
| China
|
| |
|
Title:
Why has Unemployment in Algeria been higher than in MENA and Transition Countries
Author/Editor: Kpodar, Kangni
Series: Working Paper No. 07/210
Date: August 1, 2007
Subject(s): Unemployment | Algeria | Labor markets | Taxation
Author's keyword(s):
Unemployment
| Labor market institutions
| Macroeconomic shocks
|
| |
|
Title:
Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges
Author/Editor: Yartey, Charles Amo ; Adjasi, Charles Komla
Series: Working Paper No. 07/209
Date: August 1, 2007
Subject(s): Stock markets | Sub-Saharan Africa | Corporate sector | Financial assets | Economic growth
Author's keyword(s):
Stock markets
| corporate finance
| economic growth
| Sub-Saharan Africa
|
| |
|
Title:
U.K. Inflation and Relative Prices Over the Last Decade: How Important was Globalization?
Author/Editor: Hunt, Ben
Series: Working Paper No. 07/208
Date: August 1, 2007
Subject(s): Inflation | United Kingdom | Prices | Globalization | Economic models
|
| |
|
Title:
Endogenous Monetary Policy Credibility in a Small Macro Model of Israel
Author/Editor: Argov, Eyal ; Epstein, Natan P. ; Karam, Philippe D ; Laxton, Douglas ; Rose, David
Series: Working Paper No. 07/207
Date: August 1, 2007
Subject(s): Monetary policy | Israel | Inflation targeting | Economic models
Author's keyword(s):
Monetary policy credibility
| non-linearity
| inflation targeting
|
| |
|
Title:
Debt Stabilization Bias and the Taylor Principle: Optimal Policy in a New Keynesian Model with Government Debt and Inflation Persistence
Author/Editor: Stehn, Sven Jari ; Vines, David
Series: Working Paper No. 07/206
Date: August 1, 2007
Subject(s): Working Paper | Public debt | Monetary policy | Fiscal policy | Inflation | Economic stabilization
Author's keyword(s):
Monetary Policy
| Fiscal Policy
| Government Debt
| Stabilization Bias
|
| |
|
Title:
Indian Subnational Finances: Recent Performance
Author/Editor: Kishore, Adarsh ; Prasad, A.
Series: Working Paper No. 07/205
Date: August 1, 2007
Subject(s): India | Public finance | Budgets | Public debt | Fiscal management
Author's keyword(s):
State budgets
| public debt
| subnational finances
|
| |
|
Title:
The Effects of Dividend Taxes on Equity Prices: A Re-examination of the 1997 U.K. Tax Reform
Author/Editor: Bond, Stephen ; Klemm, Alexander ; Devereux, Michael B.
Series: Working Paper No. 07/204
Date: August 1, 2007
Subject(s): United Kingdom | Tax reforms | Stock prices | Pensions | Investment | Economic models
Author's keyword(s):
Tax reform
| dividends
| stock market.
|
| |
|
Title:
Financial Deepening in Sub-Saharan Africa: Empirical Evidence on the Role of Creditor Rights Protection and Information Sharing
Author/Editor: McDonald, Calvin A. ; Schumacher, Liliana
Series: Working Paper No. 07/203
Date: August 1, 2007
Subject(s): Working Paper | Financial systems | Sub-Saharan Africa | Capital markets | Credit policy
Author's keyword(s):
Financial deepening
| creditors rights
| information sharing
|
| |
|
Title:
A Party without a Hangover? On the Effects of U.S. Government Deficits
Author/Editor: Kumhof, Michael ; Laxton, Douglas
Series: Working Paper No. 07/202
Date: August 1, 2007
Subject(s): Budget deficits | United States | Working Paper | Taxes | Public debt | Economic models
Author's keyword(s):
Finite lives
| distortionary taxes
| government debt
|
| |
|
Title:
Assessing Competitiveness and Real Exchange Rate Misalignment in Low-Income Countries
Author/Editor: Di Bella, Gabriel ; Lewis, Mark ; Martin, Aurélie
Series: Working Paper No. 07/201
Date: August 1, 2007
Subject(s): Export competitiveness | Real effective exchange rates | Low-income developing countries
Author's keyword(s):
Competitiveness
| equilibrium exchange rates
| low-income countries
|
| |
|
Title:
DSGE Modeling at the Fund: Applications and Further Developments
Author/Editor: Botman, Dennis P. J. ; Karam, Philippe D ; Laxton, Douglas ; Rose, David
Series: Working Paper No. 07/200
Date: August 1, 2007
Subject(s): Fiscal policy | Economic models | Monetary policy
Author's keyword(s):
Model construction
| open-economy macroeconomics
| international policy transmission
| monetary and fiscal policies
|
| |
|
Title:
The Golden Rule and the Economic Cycles
Author/Editor: Honjo, Keiko
Series: Working Paper No. 07/199
Date: August 1, 2007
Subject(s): Business cycles | Fiscal policy
Author's keyword(s):
Golden rule
| fiscal rule
| procyclical fiscal policy
| economic cycle
| macroeconomic stability
|
| |
|
Title:
Economic Growth in Croatia: Potential and Constraints
Author/Editor: Moore, David ; Vamvakidis, Athanasios
Series: Working Paper No. 07/198
Date: August 1, 2007
Subject(s): Economic growth | Croatia | Privatization | Foreign direct investment | Economic reforms
Author's keyword(s):
Economic growth
| economic reform
| potential growth
|
| |
|
Title:
A Simple DGE Model for Inflation Targeting
Author/Editor: Benes, Jaromir ; de Castello Branco, Marta ; Vávra, David
Series: Working Paper No. 07/197
Date: August 1, 2007
Subject(s): Inflation targeting | Economic models | Monetary transmission mechanism
Author's keyword(s):
Inflation Targeting
| Monetary Policy
| Transmission Mechanism
| Macroeconomic Models
|
| |
|
Title:
Global Aging Pressures: Impact of Fiscal Adjustment, Policy Cooperation, and Structural Reforms
Author/Editor: Botman, Dennis P. J. ; Kumar, Manmohan S.
Series: Working Paper No. 07/196
Date: August 1, 2007
Subject(s): Fiscal policy | Aging | Economic models | Labor markets | Direct taxation
Author's keyword(s):
Global aging
| fiscal adjustment
| fiscal cooperation
| Lisbon Agenda
| IMF's Global Fiscal Mode
|
| |
|
Title:
New Landscape, New Challenges: Structural Change and Regulation in the U.S. Financial Sector
Author/Editor: Bhatia, Ashok Vir
Series: Working Paper No. 07/195
Date: August 1, 2007
Subject(s): Financial sector | United States | Bank supervision | Structural adjustment
Author's keyword(s):
Financial sector
| financial stability
| regulation
| supervision
|
| |
|
Title:
Estimation of Equilibrium Exchange Rates in the WAEMU: A Robustness Approach
Author/Editor: Roudet, Stéphane ; Saxegaard, Magnus ; Tsangarides, Charalambos G.
Series: Working Paper No. 07/194
Date: August 1, 2007
Subject(s): West African Economic and Monetary Union | Exchange rates | Real effective exchange rates
Author's keyword(s):
Equilibrium real exghange rate
| FEER
| cointegration
| panel
| WAEMU.
|
| |
|
Title:
Inflation Targeting in Georgia: Are We There Yet?
Author/Editor: Bakradze, Giorgi ; Billmeier, Andreas
Series: Working Paper No. 07/193
Date: August 1, 2007
Subject(s): Inflation targeting | Georgia | Monetary policy | Monetary transmission mechanism
Author's keyword(s):
Georgia
| monetary transmission mechanism
| inflation targeting
| monetary policy
|
| |
|
Title:
Structuring and Restructuring Sovereign Debt: The Role of a Bankruptcy Regime
Author/Editor: Bolton, Patrick ; Jeanne, Olivier
Series: Working Paper No. 07/192
Date: August 1, 2007
Subject(s): Sovereign debt | Debt restructuring | Bankruptcy | Sovereign Debt Restructuring Mechanism
Author's keyword(s):
Sovereign debt
| Debt restructuring
| Bankruptcy
| Sovereign Debt Restructuring Mechanism (SDRM)
Mechanism (SDRM)
|
| |
|
July 2007
|
| |
|
Title:
Financial Globalization and Monetary Policy
Author/Editor: Devereux, Michael B. ; Sutherland, Alan
Series: Working Paper No. 07/279
Date: July 1, 2007
Subject(s): Globalization | Monetary policy | Capital flows | Exchange rate instability | International capital markets
Author's keyword(s):
Portfolio choice
| international risk sharing
|
| |
|
Title:
What Do We Know About Namibia's Competitiveness
Author/Editor: Miyajima, Ken
Series: Working Paper No. 07/191
Date: July 1, 2007
Subject(s): Export competitiveness | Namibia | Economic models | Governance
Author's keyword(s):
Autoregressive distributed lag model
| business environment
| competitiveness
| equilibrium real exchange rate
| governance
|
| |
|
Title:
Coping with Capital Inflows: Experiences of Selected European Countries
Author/Editor: Ötker, Inci ; Polanski, Zbigniew ; Topf, Barry ; Vávra, David
Series: Working Paper No. 07/190
Date: July 1, 2007
Subject(s): Capital inflows | Capital markets | Inflation targeting
Author's keyword(s):
Capital inflows
| capital markets integration
| inflation targeting
| policy responses
|
| |
|
Title:
What Explains Persistent Inflation Differentials Across Transition Economies?
Author/Editor: Hammermann, Felix ; Flanagan, Mark J
Series: Working Paper No. 07/189
Date: July 1, 2007
Subject(s): Working Paper | Inflation | Transition economies
Author's keyword(s):
Inflation
| transition economies
| panel data
|
| |
|
Title:
Money for Nothing and Checks for Free: Recent Developments in U.S. Subprime Mortgage Markets
Author/Editor: Kiff, John ; Mills, Paul S.
Series: Working Paper No. 07/188
Date: July 1, 2007
Subject(s): United States | Housing | Consumer credit | Financial institutions | Financial systems | Bankruptcy | Capital markets
Author's keyword(s):
Securitization
| structured finance
| mortgage-backed securities
| housing market
|
| |
|
Title:
Ensuring Fiscal Sustainability in G-7 Countries
Author/Editor: Hauner, David ; Leigh, Daniel ; Skaarup, Michael
Series: Working Paper No. 07/187
Date: July 1, 2007
Subject(s): Fiscal policy | Group of seven | Aging | Government expenditures | Economic models
Author's keyword(s):
Fiscal sustainability
| aging
| genenral equilibrium models
|
| |
|
Title:
Financial Reforms, Financial Openness, and Corporate Borrowing: International Evidence
Author/Editor: Agca, Senay ; Detragiache, Enrica ; De Nicoló, Gianni
Series: Working Paper No. 07/186
Date: July 1, 2007
Subject(s): Debt | International capital markets | Credit
Author's keyword(s):
Corporate leverage
| debt maturity
| financial reforms
| financial openness
| international financial markets
|
| |
|
Title:
Where Have the Monetary Surprises Gone? The Effects of FOMC Statements
Author/Editor: Swiston, Andrew
Series: Working Paper No. 07/185
Date: July 1, 2007
Subject(s): United States | Monetary policy | Interest rates | Central banks
Author's keyword(s):
Monetary policy
| interest rates
|
| |
|
Title:
Determinants of Tax Revenue Efforts in Developing Countries
Author/Editor: Gupta, Abhijit Sen
Series: Working Paper No. 07/184
Date: July 1, 2007
Subject(s): Tax revenues | Developing countries | Revenues | Taxes
Author's keyword(s):
Revenue performance
| taxes
| panel data
|
| |
|
Title:
The Value-Added Tax: Its Causes and Consequences
Author/Editor: Keen, Michael ; Lockwood, Ben
Series: Working Paper No. 07/183
Date: July 1, 2007
Subject(s): Value added tax | Economic models
Author's keyword(s):
Value-added tax
| tax reform
|
| |
|
Title:
Foreign Entanglements: Estimating the Source and Size of Spillovers Across Industrial Countries
Author/Editor: Bayoumi, Tamim ; Swiston, Andrew
Series: Working Paper No. 07/182
Date: July 1, 2007
Subject(s): Japan | United States | Exports | Commodity prices
Author's keyword(s):
Spillovers
| international business cycles
| vector autoregressions
|
| |
|
Title:
Explaining China's Low Consumption: The Neglected Role of Household Income
Author/Editor: Aziz, Jahangir ; Cui, Li
Series: Working Paper No. 07/181
Date: July 1, 2007
Subject(s): Consumption | Income | Economic growth | China | China, People's Republic of
Author's keyword(s):
China
| consumption
| financing constraints
| rebalancing growth
|
| |
|
Title:
Monetary Policy Rules for Managing Aid Surges in Africa
Author/Editor: Adam, Christopher ; O'Connell, Stephen A. ; Buffie, Edward F. ; Pattillo, Catherine A.
Series: Working Paper No. 07/180
Date: July 1, 2007
Subject(s): Development assistance | Monetary policy | Africa | Economic models
Author's keyword(s):
Monetary Policy
| Africa
| Aid Volatility
| Stochastic Simulation Models.
|
| |
|
Title:
Go Long or Short in Pyramids? News from the Egyptian Stock Market
Author/Editor: Billmeier, Andreas ; Massa, Isabella
Series: Working Paper No. 07/179
Date: July 1, 2007
Subject(s): Stock markets | Egypt | Financial integration | Stock prices
Author's keyword(s):
Egypt
| stock market
| CASE
| integration
| cointegration
| market capitalization
|
| |
|
Title:
Fiscal Adjustments: Determinants and Macroeconomic Consequences
Author/Editor: Kumar, Manmohan S. ; Leigh, Daniel ; Plekhanov, Alexander
Series: Working Paper No. 07/178
Date: July 1, 2007
Subject(s): Fiscal policy | Adjustment process | Public debt | Economic models
Author's keyword(s):
Fiscal consolidation
| fiscal adjustment
| government debt
| non-Ricardian model
|
| |
|
Title:
Financing of Global Imbalances
Author/Editor: Walker, W. Christopher ; Punzi, Maria Teresa
Series: Working Paper No. 07/177
Date: July 1, 2007
Subject(s): United States | Bond issues | Capital flows | Interest rate differential
Author's keyword(s):
Home bias
| panel VAR
| US bond inflows
|
| |
|
Title:
The Effect of External Conditions on Growth in Latin America
Author/Editor: Österholm, Pär ; Zettelmeyer, Jeromin
Series: Working Paper No. 07/176
Date: July 1, 2007
Subject(s): Latin America | Economic growth | Business cycles | Economic growth | Commodity prices
Author's keyword(s):
Business cycles
| Bayesian VAR
| sudden stops
| commodity prices
|
| |
|
Title:
Introducing Islamic Banks into Coventional Banking Systems
Author/Editor: Sole, Juan
Series: Working Paper No. 07/175
Date: July 1, 2007
Subject(s): Working Paper | Islamic banking | Bank supervision | Financial systems | Financial institutions
Author's keyword(s):
Islamic Banking and Finance
| Supervision
|
| |
|
Title:
VAT, Tariffs, and Withholding: Border Taxes and Informality in Developing Countries
Author/Editor: Keen, Michael
Series: Working Paper No. 07/174
Date: July 1, 2007
Subject(s): Value added tax | Tariffs | Developing countries
Author's keyword(s):
Value added tax; tariffs; informal sector
|
| |
|
Title:
The Case for a European Banking Charter
Author/Editor: Cihák, Martin ; Decressin, Jörg
Series: Working Paper No. 07/173
Date: July 1, 2007
Subject(s): Banking | Europe | Financial systems | European Union | Financial stability
Author's keyword(s):
European Union
| Financial System
| Financial Stability
| Banking Charter
|
| |
|
Title:
Volatility and Jump Risk Premia in Emerging Market Bonds
Author/Editor: Matovu, John
Series: Working Paper No. 07/172
Date: July 1, 2007
Subject(s): Emerging markets | Bonds | Interest rates | Risk premium | Economic models
Author's keyword(s):
Volatility
| jumps and risk premia
|
| |
|
Title:
The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence
Author/Editor: Debrun, Xavier ; Kumar, Manmohan S.
Series: Working Paper No. 07/171
Date: July 1, 2007
Subject(s): Fiscal policy | Fiscal transparency | Budget deficits | Budgetary policy
Author's keyword(s):
Deficit bias
| fiscal rules
| credibility
| accountablility
| transparency
|
| |
|
Title:
Rapid Growth in Transition Economies: Panel Regression Approach
Author/Editor: Iradian, Garbis
Series: Working Paper No. 07/170
Date: July 1, 2007
Subject(s): Transition economies | Economic growth | Terms of trade | Economic reforms | Workers remittances
Author's keyword(s):
Growth
| Structural Reforms
| Remittances
| Terms of Trade.
|
| |
|
Title:
Globalization and Income Inequality: A European Perspective
Author/Editor: Harjes, Thomas
Series: Working Paper No. 07/169
Date: July 1, 2007
Subject(s): Globalization | Europe | Income distribution | National income accounts
Author's keyword(s):
Globlization
| income inequality
|
| |
|
Title:
Assessing the Impact of a Change in the Composition of Public Spending: A DSGE Approach
Author/Editor: Straub, Roland ; Tchakarov, Ivan
Series: Working Paper No. 07/168
Date: July 1, 2007
Subject(s): Public investment | Consumption | Government expenditures | Economic models | European Union
Author's keyword(s):
Public investment
| public consumption
| Euro Area
| DSGE models
|
| |
|
Title:
Growth and Inflation Dispersions in EMU: Reasons, the Role of Adjustment Channels, and Policy Implications
Author/Editor: Stavrev, Emil
Series: Working Paper No. 07/167
Date: July 1, 2007
Subject(s): Economic growth | Inflation | Production | European Economic and Monetary Union | Interest rates | Financial integration | Risk management | Consumption
Author's keyword(s):
Common and country-specific shocks
| output and inflation dispersions
| convergence
| risks sharing
|
| |
|
Title:
Real Effects of Common Currencies in East Asia
Author/Editor: Shirono, Kazuko
Series: Working Paper No. 07/166
Date: July 1, 2007
Subject(s): Monetary unions | East Asia | International trade | Economic models
Author's keyword(s):
Currency Union; East Asia; Gravity Model
|
| |
|
Title:
On the Buyability of Voting Bodies
Author/Editor: Morgan, John ; Vardy, Felix J. J.
Series: Working Paper No. 07/165
Date: July 1, 2007
Subject(s): Corruption | Competition | Public sector
Author's keyword(s):
Vote buying
| lobbying
| corruption
| elections
|
| |
|
Title:
Rapid Growth in Transition Economies: Growth-Accounting Approach
Author/Editor: Iradian, Garbis
Series: Working Paper No. 07/164
Date: July 1, 2007
Subject(s): Economic growth | Transition economies | Productivity | Former Soviet Union
Author's keyword(s):
Growth
| TFP
|
| |
|
Title:
The Role of Nonseparable Utility and Nontradeables in International Business Cycle and Portfolio Choice
Author/Editor: Matsumoto, Akito
Series: Working Paper No. 07/163
Date: July 1, 2007
Subject(s): Asset management | Business cycles | Financial integration | Investment | Risk management | Economic models
Author's keyword(s):
International business cycle
| international portfolio choice
| nonseparability in utility
| nontraded goods
| nontraded factors
|
| |
|
Title:
A Note on Public Debt, Tax-Exempt Bonds, and Ponzi Games
Author/Editor: Wigger, Berthold U.
Series: Working Paper No. 07/162
Date: July 1, 2007
Subject(s): Public debt | Bonds | Capital | Taxation
Author's keyword(s):
Public debt
| tax-exempt bonds
| capital taxation
| Ponzi game
|
| |
|
Title:
Firm Heterogeneity and Weak Intellectual Property Rights
Author/Editor: Watt, Stanley
Series: Working Paper No. 07/161
Date: July 1, 2007
Subject(s): Corporate sector | Foreign direct investment | Technology transfer | Economic models
Author's keyword(s):
Firm heterogeneity
| intellectual property rights
| foreign direct investment
|
| |
|
Title:
Globalization, Gluts, Innovation or Irrationality: What Explains the Easy Financing of the U.S. Current Account Deficit?
Author/Editor: Balakrishnan, Ravi ; Bayoumi, Tamim ; Tulin, Volodymyr
Series: Working Paper No. 07/160
Date: July 1, 2007
Subject(s): Current account | United States | External debt | Deficit financing | Financial instruments | Globalization | Savings | Economic models
Author's keyword(s):
U.S current account
| financing
| home bias
| global savings glut
| portfolio balance
| ICAPM
|
| |
|
Title:
Cooperative Banks in Europe--Policy Issues
Author/Editor: Fonteyne, Wim
Series: Working Paper No. 07/159
Date: July 1, 2007
Subject(s): Banks | Europe | European Union | Bank supervision | Profits | Financial stability | Financial systems | Governance
Author's keyword(s):
bank efficiency
| bank profitability
| bank supervision
| banks
| EU
| European Union
| financial services
| financial stability
| financial system
| governance.
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Title:
The Common Monetary Area in Southern Africa: Shocks, Adjustment, and Policy Challenges
Author/Editor: Wang, Jian-Ye ; Masha, Iyabo ; Shirono, Kazuko ; Harris, Leighton
Series: Working Paper No. 07/158
Date: July 1, 2007
Subject(s): Monetary unions | Economic policy | Adjustment process | Financial integration | Financial sector
Author's keyword(s):
Exchange Rate
| Monetary Union
| Shocks
| Policy Adjustment
|
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Title:
What Drives Stock Market Development in the Middle East and Central Asia--Institutions, Remittances, or Natural Resources?
Author/Editor: Billmeier, Andreas ; Massa, Isabella
Series: Working Paper No. 07/157
Date: July 1, 2007
Subject(s): Working Paper | Stock markets | Middle East and Central Asia | Natural resources | Oil prices | Workers remittances | Economic models
Author's keyword(s):
Stock market capitalization
| panel
| institutions
| remittances
|
| |
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Title:
Trade Openness and Growth: Pursuing Empirical Glasnost
Author/Editor: Billmeier, Andreas ; Nannicini, Tommaso
Series: Working Paper No. 07/156
Date: July 1, 2007
Subject(s): Trade policy | International trade | Economic growth | Economic models
Author's keyword(s):
Trade openness
| growth
| matching estimators
| synthetic control
|
| |
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Title:
Estimation of a Behavioral Equilibrium Exchange Rate Model for Ghana
Author/Editor: Iossifov, Plamen ; Loukoianova, Elena
Series: Working Paper No. 07/155
Date: July 1, 2007
Subject(s): Ghana | Export prices | Commodity prices | External competitiveness | Economic models
Author's keyword(s):
Real Effective Exchange Rate
| Competitiveness
| Ghana
| BEER
|
| |
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Title:
Welfare Gains from Financial Liberalization
Author/Editor: Townsend, Robert M. ; Ueda, Kenichi
Series: Working Paper No. 07/154
Date: July 1, 2007
Subject(s): Financial sector | Financial systems | Economic growth | Economic models | Thailand
Author's keyword(s):
Financial liberalization
| welfare gain
| financial deepening
| economic growth
|
| |
|
Title:
Distributional Implications of the VAT Reform in the Philippines
Author/Editor: Newhouse, David Locke ; Zakharova, Daria
Series: Working Paper No. 07/153
Date: July 1, 2007
Subject(s): Working Paper | Philippines
Author's keyword(s):
VAT Poverty and Social Impact Analysis
| Social Safety Net
| Targeted Transfers
|
| |
|
Title:
IMF Drawing Programs: Participation Determinants and Forecasting
Author/Editor: Cerutti, Eugenio
Series: Working Paper No. 07/152
Date: July 1, 2007
Subject(s): Use of Fund resources | Extended arrangements | Stand-by arrangements
Author's keyword(s):
IMF
| IMF programs
| use of Fund resources
|
| |
|
Title:
Capital Flows, Financial Integration, and International Reserve Holdings: The Recent Experience of Emerging Markets and Advanced Economies
Author/Editor: Choi, Woon Gyu ; Sharma, Sunil ; Strömqvist, Maria
Series: Working Paper No. 07/151
Date: July 1, 2007
Subject(s): Capital flows | Financial integration | Reserves | Liquidity
Author's keyword(s):
International reserves
| capital flows
| financial integration
| sovereign liquidity
| stockpiling motive
| panel data
|
| |
|
Title:
Guarding Against Fiscal Risks in Hong Kong SAR
Author/Editor: Porter, Nathaniel John
Series: Working Paper No. 07/150
Date: July 1, 2007
Subject(s): Risk management | Hong Kong SAR | Fiscal policy | Tax revenues | Government expenditures | Aging | Hong Kong Special Administrative Region of China
Author's keyword(s):
Fiscal Policy
| Revenue Volatility
| Value at Risk
|
| |
|
Title:
IPO Behavior in GCC Countries: Goody-Two Shoes or Bad-to-the-Bone?
Author/Editor: Al-Hassan, Abdullah ; Omran, Mohammed ; Delgado-Fernández, Fernando-Luciano
Series: Working Paper No. 07/149
Date: July 1, 2007
Subject(s): Stock prices | Stock markets | Middle East
Author's keyword(s):
IPO
| Underpricing
| Stock performance
| GCC
|
| |
|
June 2007
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Title:
Persistent Gaps, Volatility Types, and Default Traps
Author/Editor: Catão, Luis ; Fostel, Ana ; Kapur, Sandeep
Series: Working Paper No. 07/148
Date: June 1, 2007
Subject(s): Production | Sovereign debt | Economic models | Borrowing
Author's keyword(s):
Sovereign Debt. Default
| Country Spreads
| Output Volatility and Persistence.
|
| |
|
Title:
Public Debt Markets in Central America, Panama, and the Dominican Republic
Author/Editor: Shah, Hemant ; Jobst, Andreas ; Valderrama, Laura ; Guerra, Ivan
Series: Working Paper No. 07/147
Date: June 1, 2007
Subject(s): Public debt | Central America | Costa Rica | El Salvador | Honduras | Guatemala | Dominican Republic | Nicaragua | Panama | Capital markets | Debt management | Financial integration
Author's keyword(s):
Public debt management
| public debt markets
| sovereign debt
| Central America
| financial integration
| and capital market development
|
| |
|
Title:
Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Merchantilism
Author/Editor: Durdu, Ceyhun Bora ; Mendoza, Enrique G. ; Terrones, Marco
Series: Working Paper No. 07/146
Date: June 1, 2007
Subject(s): Reserves accumulation | Crisis prevention | Financial crisis | Deflation | Deflation | Dollarization | Globalization | Business cycles | Credit | Economic models
Author's keyword(s):
Fisherian deflation
| liability dollarization
| credit constraints
| sudden stops
|
| |
|
Title:
Measuring the Effect of Foreign Aid on Growth and Poverty Reduction or The Pitfalls of Interaction Variables
Author/Editor: Pattillo, Catherine A. ; Polak, J. J. ; Roy, Joydeep
Series: Working Paper No. 07/145
Date: June 1, 2007
Subject(s): Development assistance | Economic growth | Poverty
Author's keyword(s):
Foreign aid
| interaction variables
| growth
| and poverty reduction
|
| |
|
Title:
Europe and Global Imbalances
Author/Editor: Lane, Philip R. ; Milesi-Ferretti, Gian Maria
Series: Working Paper No. 07/144
Date: June 1, 2007
Subject(s): Financial integration | Capital flows | Europe | Current account balances
Author's keyword(s):
Financial integration
| capital flows
| external assets and liabilities
|
| |
|
Title:
U.S. Revenue Surprises: Are Happy Days Here to Stay?
Author/Editor: Swiston, Andrew ; Mühleisen, Martin ; Mathai, Koshy
Series: Working Paper No. 07/143
Date: June 1, 2007
Subject(s): United States | Revenues | Tax revenues | Tax elasticity | Income
Author's keyword(s):
Tax revenue
| tax buoyancy
| tax elasticity
| capital income
| revenue forecasting
|
| |
|
Title:
VAT Attacks!
Author/Editor: Keen, Michael
Series: Working Paper No. 07/142
Date: June 1, 2007
Subject(s): Value added tax | Tax reforms | Indirect taxation
Author's keyword(s):
Value added tax
| indirect taxation
| tax reform
|
| |
|
Title:
Testing for Cointegration Using the Johansen Methodology when Variables are Near-Integrated
Author/Editor: Hjalmarsson, Erik ; Österholm, Pär
Series: Working Paper No. 07/141
Date: June 1, 2007
Subject(s): Financial integration | Economic models
Author's keyword(s):
Cointegration
| Near-unit-roots
| Spurious rejection
| Monte Carlo simulations
|
| |
|
Title:
Complex Ownership Structures and Corporate Valuations
Author/Editor: Laeven, Luc ; Levine, Ross
Series: Working Paper No. 07/140
Date: June 1, 2007
Subject(s): Working Paper | Corporate governance
Author's keyword(s):
Corporate governance
| large shareholders
| blockholders
|
| |
|
Title:
Relative Price Stability, Creditor Rights, and Financial Deepening
Author/Editor: Dehesa, Mario ; Druck, Pablo ; Plekhanov, Alexander
Series: Working Paper No. 07/139
Date: June 1, 2007
Subject(s): Working Paper | Credit | Inflation | Debt management
Author's keyword(s):
Private credit
| creditor rights
| inflation
| volatility
|
| |
|
Title:
International Financial Integration Through Equity Markets: Which Firms from Which Countries Go Global?
Author/Editor: Claessens, Stijn ; Schmukler, Sergio L.
Series: Working Paper No. 07/138
Date: June 1, 2007
Subject(s): Financial integration | International capital markets | Globalization | Capital accumulation | Stock markets
Author's keyword(s):
International financial integration
| internationalization
| globalization of financial markets
| access to financial markets
|
| |
|
Title:
Trade Reform in the CEMAC: Developments and Opportunities
Author/Editor: Martijn, Jan Kees ; Tsangarides, Charalambos G.
Series: Working Paper No. 07/137
Date: June 1, 2007
Subject(s): Trade policy | Central African Economic and Monetary Community | Tariffs | Trade liberalization | Revenue mobilization
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| |
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Title:
Re-Accessing International Capital Markets after Financial Crises: Some Empirical Evidence
Author/Editor: Zanforlin, L.
Series: Working Paper No. 07/136
Date: June 1, 2007
Subject(s): Working Paper | Sovereign debt | Developing countries | Financial crisis | International capital markets
Author's keyword(s):
Sovereign debt
| Re-access
| International Finance
| Developing Countries.
|
| |
|
Title:
An Oil and Gas Model
Author/Editor: Krichene, Noureddine
Series: Working Paper No. 07/135
Date: June 1, 2007
Subject(s): Oil | Natural gas | Demand | Interest rates | Monetary policy | Exchange rates | Oil prices | Economic models
Author's keyword(s):
Crude oil
| demand
| elasticity
| exchange rate
| impulse response
| interest rate
| monetary policy
| multiplier
| natural gas
| oil shock
| supply
|
| |
|
Title:
Bank Efficiency and Market Structure: What Determines Banking Spreads in Armenia?
Author/Editor: Dabla-Norris, Era ; Floerkemeier, Holger
Series: Working Paper No. 07/134
Date: June 1, 2007
Subject(s): Armenia | Banking systems | Interest rates
Author's keyword(s):
Banking System
| Interest Rate Spreads
| Armenia
|
| |
|
Title:
Modalities of Moving to Inflation Targeting in Armenia and Georgia
Author/Editor: Dabla-Norris, Era ; Kim, Daehaeng ; Zermeno Livas, Mayra Rebecca ; Billmeier, Andreas ; Kramarenko, V.
Series: Working Paper No. 07/133
Date: June 1, 2007
Subject(s): Armenia | Georgia | Monetary policy | Inflation targeting
Author's keyword(s):
Armenia
| Georgia
| monetary policy
| inflation targeting
|
| |
|
Title:
Pooling Risk Among Countries
Author/Editor: Imbs, Jean ; Mauro, Paolo
Series: Working Paper No. 07/132
Date: June 1, 2007
Subject(s): Export diversification | Financial risk | Globalization | Trade integration
Author's keyword(s):
Risk sharing
| diversification
| enforceability
|
| |
|
Title:
Budget Rigidity and Expenditure Efficiency in Slovenia
Author/Editor: Mattina, Todd D. ; Gunnarsson, Victoria
Series: Working Paper No. 07/131
Date: June 1, 2007
Subject(s): Government expenditures | Slovenia | Budgetary policy | Public investment
Author's keyword(s):
Public expenditure efficiency
| flexibility of spending
|
| |
|
Title:
Asia Rising: A Sectoral Perspective
Author/Editor: Jaumotte, Florence ; Spatafora, Nikola
Series: Working Paper No. 07/130
Date: June 1, 2007
Subject(s): Working Paper | Economic growth | Asia | Productivity
Author's keyword(s):
Asia
| growth
| productivity
|
| |
|
Title:
France in the Global Economy: A Structural Approximate Dynamic Factor Model Analysis
Author/Editor: Kabundi, Alain N. ; Nadal-De Simone, Francisco
Series: Working Paper No. 07/129
Date: June 1, 2007
Subject(s): Economic models | Business cycles | France
Author's keyword(s):
Dynamic factor models
| international business cycles
| sign restrictions
|
| |
|
Title:
The Ties that Bind: Measuring International Bond Spillovers Using the Inflation-Indexed Bond Yields
Author/Editor: Bayoumi, Tamim ; Swiston, Andrew
Series: Working Paper No. 07/128
Date: June 1, 2007
Subject(s): Real interest rates | Inflation | Bonds
Author's keyword(s):
Spillovers
| market efficiency
| real interest rates
| inflation-indexed bonds
|
| |
|
Title:
The Role of Domestic Debt Markets in Economic Growth: An Empirical Investigation for Low-Income Countries and Emerging Markets
Author/Editor: Abbas, S. M. Ali ; Christensen, Jakob
Series: Working Paper No. 07/127
Date: June 1, 2007
Subject(s): Public debt | Domestic debt | Africa | Economic growth | Fiscal policy | Capital markets | Savings | Low-income developing countries | Emerging markets
Author's keyword(s):
Domestic Debt; Growth; Fiscal Policy; Sterilization; Institutions; Financial Development; Saving; Crowding out; Panel Estimations; Low Income Countries
| Emerging Markets
| Africa.
|
| |
|
May 2007
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Title:
Impact on Intra-European Trade Agreements, 1990-2005: Policy Implications for the Western Balkans and Ukraine
Author/Editor: Herderschee, Han ; Qiao, Zhaogang
Series: Working Paper No. 07/126
Date: May 1, 2007
Subject(s): Trade relations | Europe | Ukraine | Bilateral trade agreements | Customs policy | Monetary unions | Economic models
Author's keyword(s):
Trade agreements
| gravity model
| bilateral trade
| customs union
| currency union
|
| |
|
Title:
Financial Sector Reforms and Prospects for Financial Integration in Maghreb Countries
Author/Editor: Tahari, Amor ; Brenner, Patricia D ; De Vrijer, J. E. J. ; Moretti, Marina ; Senhadji Semlali, A. ; Sensenbrenner, Gabriel ; Sole, Juan
Series: Working Paper No. 07/125
Date: May 1, 2007
Subject(s): Financial sector | Maghreb | Financial systems | Economic reforms | Globalization
Author's keyword(s):
Financial sector reform
| financial integration
| Maghreb countries
|
| |
|
Title:
Public Investment and Growth in the Eastern Caribbean
Author/Editor: Roache, Shaun K.
Series: Working Paper No. 07/124
Date: May 1, 2007
Subject(s): Public investment | Caribbean | Economic growth | Economic models
Author's keyword(s):
Public investment
| growth
| Caribbean
|
| |
|
Title:
Monetary Policy Transparency and Financial Market Forecasts in South Africa
Author/Editor: Arora, Vivek B.
Series: Working Paper No. 07/123
Date: May 1, 2007
Subject(s): Economic forecasting | South Africa | Transparency | Monetary policy | Capital markets
Author's keyword(s):
Monetary policy
| transparency
| financial markets
| South Africa
|
| |
|
Title:
Coping with Spain's Aging: Retirement Rules and Incentives
Author/Editor: Catalán, Mario ; Guajardo, Jaime ; Hoffmaister, Alexander W.
Series: Working Paper No. 07/122
Date: May 1, 2007
Subject(s): Pension regulations | Aging | Spain | Economic models
Author's keyword(s):
Pension reform
| dynamic general equilibrium model
| Spanish pension system
|
| |
|
Title:
Do Unit Value Export, Import, and Terms of Trade Indices Represent or Misrepresent Price Indices?
Author/Editor: Silver, Mick
Series: Working Paper No. 07/121
Date: May 1, 2007
Subject(s): Export prices | Imports | Terms of trade | Consumer price indexes | Producer price indexes
Author's keyword(s):
Unit Value Index; Export Import Price Index; International Trade Price Indices; Terms of Trade.
|
| |
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Title:
Labor's Liquidity Service and Firing Costs
Author/Editor: Bennett, Herman Z.
Series: Working Paper No. 07/120
Date: May 1, 2007
Subject(s): Labor costs | Labor policy | Corporate sector | Liquidity
Author's keyword(s):
Firing costs
| financial restrictions
| liquidity constraints
| labor's liquidity service
| empirical evidence
| labor policy
|
| |
|
Title:
Money and Inflation in the Islamic Republic of Iran
Author/Editor: Bonato, Leo
Series: Working Paper No. 07/119
Date: May 1, 2007
Subject(s): Inflation | Iran, Islamic Republic of | Money | Money supply | Monetary policy | Economic models
Author's keyword(s):
Money
| inflation
| monetary policy
|
| |
|
Title:
Private-Sector Financial Liabilities in Advanced Economies: Is More Better?
Author/Editor: Tang, Man-Keung
Series: Working Paper No. 07/118
Date: May 1, 2007
Subject(s): External financing | Private sector | Financial systems | Labor markets | Economic growth
Author's keyword(s):
Financial development
| financial system
| labor market
| economic growth
|
| |
|
Title:
The Economics of Islamic Finance and Securitization
Author/Editor: Jobst, Andreas
Series: Working Paper No. 07/117
Date: May 1, 2007
Subject(s): Islamic banking | Bank credit | Loan guarantees | Financial institutions
Author's keyword(s):
Securitization
| ABS
| MBS
| structured finance
| Islamic banking
| Islamic finance
| Islamic securitization
| sovereign securitization
| shariah compliance
| sukuk
| mudharaba
| ijara
| murabaha
|
| |
|
Title:
The Convergence Dynamics of a Transition Economy: The Case of the Czech Republic
Author/Editor: Bruha, Jan ; Podpiera, Jiri ; Polak, Stanislav
Series: Working Paper No. 07/116
Date: May 1, 2007
Subject(s): Economic indicators | Czech Republic | Monetary policy | Emerging markets | Economic models
Author's keyword(s):
Two-country modeling
| covergence
| monetary policy
|
| |
|
Title:
Macroeconomic and Financial Soundness Indicators: An Empirical Investigation
Author/Editor: Babihuga, Rita
Series: Working Paper No. 07/115
Date: May 1, 2007
Subject(s): Financial soundness indicators | Economic indicators
Author's keyword(s):
Financial soundness indicators
| macroprudential analysis
|
| |
|
Title:
Output Volatility and Large Output Drops in Emerging Market and Developing Countries
Author/Editor: Hakura, Dalia
Series: Working Paper No. 07/114
Date: May 1, 2007
Subject(s): Gross domestic product | Production | Fiscal policy | Exchange rate policy | Emerging markets | Developing countries
Author's keyword(s):
Output volatility
| output drops
| fiscal policy
| exchange rate policy
| developing countries
|
| |
|
Title:
Exchange Rate Fluctuations and Output in Oil-Producing Countries: The Case of Iran
Author/Editor: Bahmani-Oskooee, Mohsen ; Kandil, Magda E.
Series: Working Paper No. 07/113
Date: May 1, 2007
Subject(s): Exchange rate instability | Iran, Islamic Republic of | Oil exporting countries | Exports | Imports | Exchange rate policy
Author's keyword(s):
Currency depreciation
| non-oil exports
| imported inputs
|
| |
|
Title:
Informality and Regulations: What Drives Firm Growth?
Author/Editor: Dabla-Norris, Era ; Inchauste, Gabriela
Series: Working Paper No. 07/112
Date: May 1, 2007
Subject(s): Shadow economy | Industrial policy | Corporate sector | Tax burdens | Transition economies
Author's keyword(s):
Firm growth
| informality
| business environment
| transition countries
|
| |
|
Title:
Global Imbalances and Financial Stability
Author/Editor: Xafa, Miranda
Series: Working Paper No. 07/111
Date: May 1, 2007
Subject(s): Balance of payments | Current account balances | Adjustment process | United States | Globalization
Author's keyword(s):
Global imbalances
| portfolio balance
| asset shortages
| financial globalization
|
| |
|
Title:
Oil Shocks and External Balances
Author/Editor: Kilian, Lutz ; Rebucci, Alessandro ; Spatafora, Nikola
Series: Working Paper No. 07/110
Date: May 1, 2007
Subject(s): Oil prices | External shocks | Supply | Demand | Balance of trade | Globalization | Current account | Trade integration
Author's keyword(s):
Oil prices
| external balances
| oil demand shocks
| oil supply shocks
| International Financial Integration
|
| |
|
Title:
Pension Reform in China: The Need for a New Approach
Author/Editor: Dunaway, Steven Vincent ; Arora, Vivek B.
Series: Working Paper No. 07/109
Date: May 1, 2007
Subject(s): Pension funds | China
Author's keyword(s):
Public pensions
| China
|
| |
|
Title:
Pension Reform and Macroeconomic Stability in Latin America
Author/Editor: Roldos, Jorge
Series: Working Paper No. 07/108
Date: May 1, 2007
|
| |
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Title:
Old Curses, New Approaches? Fiscal Benchmarks for Oil-Producing Countries in Sub-Saharan Africa
Author/Editor: Olters, Jan-Peter
Series: Working Paper No. 07/107
Date: May 1, 2007
Subject(s): Oil revenues | Sub-Saharan Africa | Oil exports | Fiscal policy
Author's keyword(s):
Oil reserves
| fiscal policy
| sustainability
|
| |
|
Title:
Tax Potential vs. Tax Effort: A Cross-Country Analysis of Armenia's Stubbornly Low Tax Collection
Author/Editor: Davoodi, Hamid Reza ; Grigorian, David A.
Series: Working Paper No. 07/106
Date: May 1, 2007
Subject(s): Tax collection | Armenia | Shadow economy
Author's keyword(s):
tax potential
| tax collection
| institutions
| shadow economy
| Armenia
|
| |
|
Title:
Wage Gaps and Development: Lessons from U.S. History
Author/Editor: Mourmouras, Alex ; Rangazas, Peter
Series: Working Paper No. 07/105
Date: May 1, 2007
|
| |
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Title:
Unconditional IMF Financial Support and Investor Moral Hazard
Author/Editor: Kim, Jun Il
Series: Working Paper No. 07/104
Date: May 1, 2007
Subject(s): Moral hazard | Fund arrangements | Financial assistance | Financial crisis | Loans | Risk premium | Liquidity | Economic models
Author's keyword(s):
Coordination failure
| IMF bailout
| crisis prevention
| moral hazard
|
| |
|
Title:
Jordan's International Reserve Position: Justifiably Strong
|