Working Paper 11/268
Oil-Price Boom and Real Exchange Rate Appreciation: Is There Dutch Disease in the CEMAC?
Treviño, Juan Pedro
Working Paper 11/269
The Eurozone Crisis: How Banks and Sovereigns Came to be Joined at the Hip
Mody, Ashoka; Sandri, Damiano
Working Paper 11/270
Assessing the Variability of Tax Elasticities in Lithuania
Working Paper 11/271
Intangible Capital, Relative Asset Shortages and Bubbles
Giglio, Stefano; Severo, Tiago
Working Paper 11/272
Evaluating Designs for a Fiscal Rule in Bulgaria
Andritzky, Jochen R.
Working Paper 11/273
On the Stability of Money Demand in Ghana: A Bounds Testing Approach
Dagher, Jihad; Kovanen, Arto
Working Paper 11/274
Does Money Matter for Inflation in Ghana?
Working Paper 11/275
Monetary Policy Transmission in Ghana: Does the Interest Rate Channel Work?
Working Paper 11/276
What Can Low-Income Countries Expect from Adopting Inflation Targeting?
Gemayel, Edward R.; Jahan, Sarwat; Peter, Alexandra
Working Paper 11/277
Determinants of Property Prices in Hong Kong SAR: Implications for Policy
Craig, R. Sean; Hua, Changchun
Working Paper 11/278
Credit Growth and Bank Soundness: Fast and Furious?
Igan, Deniz; Pinheiro, Marcelo
Working Paper 11/279
The Relative Volatility of Commodity Prices: A Reappraisal
Arezki, Rabah; Lederman, Daniel; Zhao, Hongyan
Working Paper 11/280
How Costly Are Debt Crises?
Furceri, Davide; Zdzienicka, Aleksandra
Working Paper 11/281
Effectiveness of Capital Controls in Selected Emerging Markets in the 2000s
Baba, Chikako; Kokenyne, Annamaria
Working Paper 11/282
Market Discipline and Conflicts of Interest between Banks and Pension Funds
Barajas, Adolfo; Catalán, Mario
Working Paper 11/283
Commodity Price Cycles: The Perils of Mismanaging the Boom
Adler, Gustavo; Sosa, Sebastian
Working Paper 11/284
Safeguarding Banks and Containing Property Booms: Cross-Country Evidence on Macroprudential Policies and Lessons from Hong Kong SAR
Ahuja, Ashvin; Nabar, Malhar
Working Paper 11/285
Using Credit Subsidies to Counteract a Credit Bust: Evidence from Serbia
Working Paper 11/286
Desynchronized: The Comovement of Non-Hydrocarbon Business Cycles in the GCC
Working Paper 11/287
Inflation Dynamics in FYR Macedonia
Working Paper 11/288
The Determinants of Economic Growth in the Philippines: A New Look
Tolo, Willa Boots J. Working Paper 11/289
The Nonbank-Bank Nexus and the Shadow Banking System
Pozsar, Zoltan; Singh, Manmohan
Working Paper 11/290
Are There Spillover Effects from Munis?
Arezki, Rabah; Candelon, Bertrand; Sy, Amadou N. R.
Working Paper 11/291
Oil Prices, External Income, and Growth: Lessons from Jordan
Mohaddes, Kamiar; Raissi, Mehdi
Working Paper 11/292
Assessing the Risks to the Japanese Government Bond (JGB) Market
Lam, Raphael W.; Tokuoka, Kiichi
Working Paper 11/293
Employment Protection and Business Cycles in Emerging Economies
Lama, Ruy; Urrutia, Carlos
Working Paper 11/294
Inflation Differentials in the GCC: Does the Oil Cycle Matter?
Mohaddes, Kamiar; Williams, Oral
Working Paper 11/295
Bank Competition and Financial Stability: A General Equilibrium Exposition
De Nicoló, Gianni; Lucchetta, Marcella
Working Paper 11/296
Who’s Going Green and Why? Trends and Determinants of Green Investment
Eyraud, Luc; Wane, Abdoul Aziz; Zhang, Changchang; Clements, Benedict J.
Working Paper 11/297
Do Loan-to-Value and Debt-to-Income Limits Work? Evidence from Korea
Igan, Deniz; Kang, Heedon
Working Paper 11/298
The New Economics of Capital Controls Imposed for Prudential Reasons
Working Paper 11/299
Developments in Financial Supervision and the Use of Macroprudential Measures in Central America
Delgado, Fernando L; Meza, Mynor
Working Paper 11/300
The Impact of the Global Crisis on South-Eastern Europe
Cocozza, Emidio; Colabella, Andrea; Spadafora, Francesco
Working Paper 12/1
Financial Stability Reports: What Are They Good For?
Cihák, Martin; Muñoz, Sònia; Sharifuddin, Shakira Teh; Tintchev, Kalin
Working Paper 12/2
Bank of Japan’s Quantitative and Credit Easing: Are They Now More Effective?
Working Paper 12/3
Next Generation System-Wide Liquidity Stress Testing
Schmieder, Christian; Hesse, Heiko; Neudorfer, Benjamin; Puhr, Claus; Schmitz, Stefan W.
Working Paper 12/4
Oil Exporters’ Dilemma: How Much to Save and How Much to Invest
Cherif, Reda; Hasanov, Fuad
Working Paper 12/5
Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008–09?
Alp, Harun; Elekdag, Selim; Lall, Subir
Working Paper 12/6
Money as Indicator for the Natural Rate of Interest
Berger, Helge; Weber, Henning
Working Paper 12/7
“International Reserves in Low Income Countries: Have They Served as Buffers?”
Crispolti, V.; Tsibouris, George C.
Working Paper 12/8
Income Inequality and Current Account Imbalances
Kumhof, Michael; Lebarz, Claire; Ranciere, Romain; Richter, Alexander W.; Throckmorton, Nathaniel A.
Working Paper 12/9
Clarity of Central Bank Communication About Inflation
Bulir, Ales; Cihák, Martin; Jansen, David-Jan
Working Paper 12/10
Foreign Banks: Trends, Impact and Financial Stability
Claessens, Stijn; Horen, Neeltje van
Working Paper 12/11
A Toolkit for Assessing Fiscal Vulnerabilities and Risks in Advanced Economies
Schaechter, Andrea; Alper, C. Emre; Arbatli, Elif; Caceres, Carlos; Callegari, Giovanni; Gerard, Marc; Jonas, Jiri; Kinda, Tidiane; Shabunina, Anna; Weber, Anke
Working Paper 12/12
Commodity Price Volatility and the Sources of Growth
Cavalcanti, Tiago V. de V.; Mohaddes, Kamiar; Raissi, Mehdi
Working Paper 12/13
Can International Macroeconomic Models Explain Low-Frequency Movements of Real Exchange Rates?
Rabanal, Pau; Rubio-Ramirez, Juan F.
Working Paper 12/14
Central Banks Quasi-Fiscal Policies and Inflation
Park, Seok Gil
Working Paper 12/15
Price Subsidies and the Conduct of Monetary Policy
Ben Aissa, Mohamed Safouane; Rebei, Nooman
Working Paper 12/16
Central Bank Credit to the Government: What Can We Learn from International Practices?
Jácome, Luis Ignacio; Matamoros-Indorf, Marcela; Sharma, Mrinalini; Townsend, Simon Baker
Working Paper 12/17
The Eastern Caribbean Currency Union: Would a Fiscal Insurance Mechanism Mitigate National Income Shocks?
Lemus, Antonio; Cashin, Paul
Working Paper 12/18
Capital Market Integration: Progress Ahead of the East African Community Monetary Union
Working Paper 12/19
Measuring Oil-Price Shocks Using Market-Based Information
Wu, Tao; Cavallo, Michele
Working Paper 12/20
Prudential Liquidity Regulation in Developing Countries: A Case Study of Rwanda
Sanya, Sarah; Mitchell, Wayne; Kantengwa, Angelique
Working Paper 12/21
Macrofinancial Modeling at Central Banks: Recent Developments and Future Directions
Roger, Scott; Vlcek, Jan
Working Paper 12/22
Ghosh, Atish R.; Kim, Jun Il; Qureshi, Mahvash Saeed; Zalduendo, Juan
Working Paper 12/23
Are Rating Agencies Powerful? An Investigation into the Impact and Accuracy of Sovereign Ratings
Kiff, John; Nowak, Sylwia Barbara; Schumacher, Liliana
Working Paper 12/24
Pricing of Sovereign Credit Risk: Evidence from Advanced Economies During the Financial Crisis
Alper, C. Emre; Forni, Lorenzo; Gerard, Marc
Working Paper 12/25
Bank Capital Adequacy in Australia
Jang, B.; Sheridan, Niamh
Working Paper 12/26
Hatchondo, Juan Carlos; Martinez, Leonardo; Sanchez, Juan M.
Working Paper 12/27
Managing Non-Core Liabilities and Leverage of the Banking System: A Building Block for Macroprudential Policymaking in Korea
Alichi, Ali; Ryoo, Sang Chul; Hong, Cheol
Working Paper 12/28
A Partial Race to the Bottom: Corporate Tax Developments in Emerging and Developing Economies
Abbas, S. M. Ali; Klemm, Alexander; Bedi, Sukhmani; Park, Junhyung
Working Paper 12/29
Bank Funding Structures and Risk: Evidence from the Global Financial Crisis
Vázquez, Francisco F.; Federico, Pablo
Working Paper 12/30
Fiscal Rules and the Sovereign Default Premium
Hatchondo, Juan Carlos; Martinez, Leonardo; Roch, Francisco
Working Paper 12/31
Barbados: Sectoral Balance Sheet Mismatches and Macroeconomic Vulnerabilities
Yartey, Charles Amo
Working Paper 12/32
Assessing Bank Competition within the East African Community
Sanya, Sarah; Gaertner, Matthew
Working Paper 12/33
Sovereign Risk, Fiscal Policy, and Macroeconomic Stability
Corsetti, Giancarlo; Kuester, Keith; Meier, André; Mueller, Gernot J.
Working Paper 12/34
Shifting Motives: Explaining the Buildup in Official Reserves in Emerging Markets since the 1980s
Ghosh, Atish R.; Ostry, Jonathan D.; Tsangarides, Charalambos G.
Working Paper 12/35
An Assessment of Malaysian Monetary Policy during the Global Financial Crisis of 2008-09
Alp, Harun; Elekdag, Selim; Lall, Subir
Working Paper 12/36
How Risky Are Banks’ Risk Weighted Assets? Evidence from the Financial Crisis
Das, Sonali; Sy, Amadou N. R.
Working Paper 12/37
Determinants of Inflation in the Euro Area: The Role of Labor and Product Market Institutions
Jaumotte, Florence; Morsy, Hanan
Working Paper 12/38
Macroeconomic and Welfare Costs of U.S. Fiscal Imbalances
Gruss, Bertrand; Torres, Jose L.
Working Paper 12/39
Stock-Flow Adjustments and Fiscal Transparency: A Cross-Country Comparison
Working Paper 12/40
Treasury Bills and/or Central Bank Bills for Absorbing Surplus Liquidity: The Main Considerations
Working Paper 12/41
Capital Inflows, Exchange Rate Flexibility, and Credit Booms
Magud, Nicolas E.; Reinhart, Carmen; Vesperoni, Esteban
Working Paper 12/42
Precautionary Savings in the Great Recession
Mody, Ashoka; Ohnsorge, Franziska; Sandri, Damiano
Working Paper 12/43
What Drives Credit Growth in Emerging Asia?
Elekdag, Selim; Han, Fei
IMF Working Papers and other IMF publications can be downloaded in full-text format from the Research at the IMF website: http://www.imf.org/research.