Title: Macroeconomic Implications for Hong Kong SAR of Accommodative U.S. Monetary Policy
Author/Editor: N'Diaye, Papa M'B. P.
Series: Working Paper No. 09/256
Date: November 1, 2009
Subject(s): Hong Kong Special Administrative Region of China

Title: Credit Derivatives: Systemic Risks and Policy Options?
Author/Editor: Kiff, John ; Elliott, Jennifer A. ; Kazarian, Elias G. ; Scarlata, Jodi G. ; Spackman, Carolyne
Series: Working Paper No. 09/254
Date: November 1, 2009
Subject(s): Asset management | Credit risk | Financial instruments | Financial stability | Fiscal policy | Securities markets | Securities regulations | Transparency
Author's keyword(s): Financial Derivatives | Financial Stability

Title: Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
Author/Editor: Kannan, Prakash ; Rabanal, Pau ; Scott, Alasdair
Series: Working Paper No. 09/252
Date: November 1, 2009
Subject(s): Asset prices | Credit expansion | Housing prices | Monetary policy | Price increases | Stock prices
Author's keyword(s): Asset Prices; Credit; Monetary Policy

Title: The Stock of Intangible Capital in Canada: Evidence from the Aggregate Value of Securities
Author/Editor: Belhocine, Nazim
Series: Working Paper No. 09/250
Date: November 1, 2009
Subject(s): Accounting | Canada | Capital | Capital goods | Corporate sector | Economic models | Investment | National income accounts | Stock markets | Stock prices
Author's keyword(s): q-Theory | Unrecorded Capital | Intangible Capital.

Title: Today versus Tomorrow: The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income
Author/Editor: Thomas, Alun H. ; Bayoumi, Tamim
Series: Working Paper No. 09/248
Date: November 1, 2009
Subject(s): Africa | Consumption | Current account balances | Economic models | National income | Nonoil sector | Oil exporting countries | Oil prices | Oil revenues | Private sector | Public sector
Author's keyword(s): Permanent Income Model | non-oil current account | oil wealth | rate of return

Title: Governance and Fund Management in the Chinese Pension System
Author/Editor: Impavido, Gregorio ; Hu, Yu-Wei ; Li, Xiaohong
Series: Working Paper No. 09/246
Date: November 1, 2009
Subject(s): Banking crisis | Capital | Cross country analysis | Demand | Economic growth | External sector | Fiscal policy | Labor | Monetary policy | Productivity | China, People's Republic of
Author's keyword(s): Public pensions | Fund Management | and Governance.

Title: A Rule-Based Medium-Term Fiscal Policy Framework for Tanzania
Author/Editor: Kim, Daehaeng ; Saito, Mika
Series: Working Paper No. 09/244
Date: November 1, 2009
Subject(s): Budgetary policy | Budgeting | Cross country analysis | Debt sustainability | External borrowing | External debt | Fiscal policy | Fiscal sustainability | Government expenditures | Public investment | Revenues | Tanzania
Author's keyword(s): Fiscal sustainability | fiscal rules | medium-term fiscal framework

Title: Valuation of Unlisted Direct Investment Equity
Author/Editor: Kumah, Emmanuel ; Damgaard, Jannick ; Elkjaer, Thomas
Series: Working Paper No. 09/242
Date: November 1, 2009
Subject(s): Corporate sector | Economic models | Foreign direct investment | Pricing policy | Stock markets | Stock prices
Author's keyword(s): Valuation methods | FDI | international investment position | macroeconomic statistical methodology | estimation techniques

Title: Treating Intangible Inputs as Investment Goods: the Impact on Canadian GDP
Author/Editor: Belhocine, Nazim
Series: Working Paper No. 09/240
Date: November 1, 2009
Subject(s): Canada | Capital goods | Capital transactions | Cross country analysis | Data collection | Economic growth | Gross domestic product | Investment | Labor productivity | National income accounts
Author's keyword(s): Intangible Capital Goods | Intangible Investment | Growth

Title: Monetary Policy Analysis and Forecasting in the World Economy: A Panel Unobserved Components Approach
Author/Editor: Vitek, Francis
Series: Working Paper No. 09/238
Date: October 1, 2009
Subject(s): Business cycles | Cross country analysis | Developed countries | Economic forecasting | Economic models | Emerging markets | Financial sector | Inflation | International financial system | Monetary policy | Monetary transmission mechanism | Real sector
Author's keyword(s): Monetary policy analysis; forecasting; world economy; panel unobserved components model; Bayesian conditioning on judgment.

Title: Inflation Targeting at 20: Achievements and Challenges
Author/Editor: Roger, Scott
Series: Working Paper No. 09/236
Date: October 1, 2009
Subject(s): Central bank policy | Cross country analysis | Developing countries | Disinflation | Emerging markets | Financial sector | Financial stability | Inflation targeting | Monetary policy | Price stabilization | Transparency
Author's keyword(s): inflation targeting | monetary policy

Title: Hybrid Inflation Targeting Regimes
Author/Editor: Roger, Scott ; Restrepo, Jorge ; Garcia, Carlos
Series: Working Paper No. 09/234
Date: October 1, 2009
Subject(s): Central bank policy | Demand | Developing countries | Economic models | Exchange rates | External shocks | Inflation targeting | Monetary policy | Risk premium
Author's keyword(s): Inflation targeting | monetary policy | exchange rate

Title: Monetary Policy and the Lost Decade: Lessons from Japan
Author/Editor: Leigh, Daniel
Series: Working Paper No. 09/232
Date: October 1, 2009
Subject(s): Deflation | Economic stabilization | Economic models | External shocks | Inflation targeting | Interest rate policy | Monetary policy | Japan
Author's keyword(s): liquidity trap | deflation | monetary policy | Bayesian econometrics

Title: Global Market Conditions and Systemic Risk
Author/Editor: González-Hermosillo, Brenda ; Hesse, Heiko
Series: Working Paper No. 09/230
Date: October 1, 2009
Subject(s): Banking sector | Central bank policy | Currency swaps | Developing countries | Economic models | Financial crisis | Financial risk | Financial systems | Fiscal policy | International capital markets | Nonbank financial sector | Risk management
Author's keyword(s): Systemic Risk | Global Financial Crises | Emerging Markets | Subprime Crisis | Volatility | Solvency | Markov-Switching

Title: The Liquidity and Liquidity Distribution Effects in Emerging Markets: The Case of Jordan
Author/Editor: Vandenbussche, Jérôme ; Blazsek, Szabolcs ; Watt, Stanley
Series: Working Paper No. 09/228
Date: October 1, 2009
Subject(s): Banking systems | Central banks | Demand for money | Excess liquidity | Jordan | Liquidity management | Monetary operations | Monetary policy | Money markets | Money supply | Reserve requirements
Author's keyword(s): interbank market; liquidity effect; liquidity distribution; monetary operations

Title: Unconventional Central Bank Measures for Emerging Economies
Author/Editor: Ishi, Kotaro ; Stone, Mark R. ; Yehoue, Etienne B.
Series: Working Paper No. 09/226
Date: October 1, 2009
Subject(s): Central bank policy | Currency swaps | Emerging markets | Financial crisis | Foreign exchange | Liquidity management | Monetary policy | Reserve requirements | Risk management
Author's keyword(s): monetary policy | unconventional measures | emerging economies

Title: New Zealand Bank Vulnerabilities in International Perspective
Author/Editor: Brooks, Ray ; Cubero, Rodrigo
Series: Working Paper No. 09/224
Date: October 1, 2009
Subject(s): Banking sector | Banks | Corporate sector | Credit risk | Cross country analysis | Financial assets | Financial crisis | Financial soundness indicators | Household credit | Housing prices | New Zealand | Private sector | Risk management
Author's keyword(s): New Zealand | bank funding | bank asset quality | stress tests

Title: Euro Area Sovereign Risk During the Crisis
Author/Editor: Sgherri, Silvia ; Zoli, Edda
Series: Working Paper No. 09/222
Date: October 1, 2009
Subject(s): Bond markets | Capital markets | European Union | External debt | Financial crisis | Financial sector | Fiscal management | Fiscal policy | Fiscal sector | Investment | Pricing policy | Public finance | Risk premium | Sovereign debt
Author's keyword(s): Euro Area; Fiscal Policy; Sovereign Spreads; Global Risk Repricing

Title: Oil Prices and Bank Profitability: Evidence from Major Oil-Exporting Countries in the Middle East and North Africa
Author/Editor: Poghosyan, Tigran ; Hesse, Heiko
Series: Working Paper No. 09/220
Date: October 1, 2009
Subject(s): Banks | Commodity price fluctuations | External shocks | Middle East | North Africa | Oil exporting countries | Oil exports | Oil prices | Oil sector | Profit margins | Profits
Author's keyword(s): bank profitability | oil price shocks | system GMM

Title: Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debate on Decoupling and Spillovers
Author/Editor: Obiora, Kingsley I.
Series: Working Paper No. 09/218
Date: October 1, 2009
Subject(s): Brazil | Cross country analysis | Direction of trade | Economic growth | Economic models | European Union | Financial crisis | Global competitiveness | International trade | Nigeria | Spillovers | Trade policy | United States
Author's keyword(s): Trading Partners | Decoupling | Spillovers | Vector Autoregression

Title: Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa
Author/Editor: Singh, Raju ; Haacker, Markus ; Lee, Kyung-woo
Series: Working Paper No. 09/216
Date: October 1, 2009
Subject(s): Cross country analysis | Developing countries | Economic growth | Economic models | Sub-Saharan Africa | Workers remittances
Author's keyword(s): remittances | economic growth | Africa

Title: Constructing Forecast Confidence Bands During the Financial Crisis
Author/Editor: Chen, Huigang ; Clinton, Kevin ; Johnson, Marianne ; Kamenik, Ondra ; Laxton, Douglas
Series: Working Paper No. 09/214
Date: September 1, 2009
Subject(s): Bank credit | Credit restraint | Economic forecasting | Economic models | European Union | Inflation targeting | Interest rates | Japan | Monetary policy | Oil prices | United States
Author's keyword(s): forecasting and simulation; forecast confidence bands

Title: Cointegrated TFP Processes and International Business Cycles
Author/Editor: Rabanal, Pau ; Rubio-Ramirez, Juan F. ; Tuesta, Vicente
Series: Working Paper No. 09/212
Date: September 1, 2009
Subject(s): Business cycles | Consumer goods | Demand | Economic models | Exchange rates | External shocks | Industrial production | International trade | Price elasticity | Prices | Private consumption | Productivity | Real effective exchange rates | Spillovers
Author's keyword(s): International Business Cycles | Real Exchange Rates | Cointegration

Title: Who Benefits from Capital Account Liberalization? Evidence from Firm-Level Credit Ratings Data
Author/Editor: Prati, Alessandro ; Schindler, Martin ; Valenzuela, Patricio
Series: Working Paper No. 09/210
Date: September 1, 2009
Subject(s): Access to capital markets | Asset management | Capital account liberalization | Capital controls | Corporate sector | Credit | Debt | Economic models | Foreign exchange transactions | Foreign investment | Time series
Author's keyword(s): Capital account liberalization; capital controls; credit access; credit ratings

Title: Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows
Author/Editor: Binici, Mahir ; Hutchison, Michael ; Schindler, Martin
Series: Working Paper No. 09/208
Date: September 1, 2009
Subject(s): Asset management | Capital account | Capital controls | Capital flows | Cross country analysis | Economic integration | Globalization | Time series
Author's keyword(s): Capital controls; capital flows; financial integration

Title: The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis
Author/Editor: Frank, Nathaniel ; Hesse, Heiko
Series: Working Paper No. 09/206
Date: September 1, 2009
Subject(s): Bank credit | Banking sector | Central bank policy | Central banks | Credit risk | Economic models | Financial crisis | Liquidity management | Loans | Monetary policy | Risk management
Author's keyword(s): Interbank markets | Financial Crisis | Markov-Switching | GARCH

Title: How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis
Author/Editor: Aït-Sahalia, Yacine ; Andritzky, Jochen R. ; Jobst, Andreas ; Nowak, Sylwia Barbara ; Tamirisa, Natalia T.
Series: Working Paper No. 09/204
Date: September 1, 2009
Subject(s): Banks | Capital markets | Central banks | Data analysis | Databases | Financial crisis | Financial sector | Monetary policy | Spillovers | Statistics
Author's keyword(s): Crisis | policy | announcement | event | financial | liquidity | monetary | fiscal | bank

Title: Benchmark Priors Revisited: On Adaptive Shrinkage and the Supermodel Effect in Bayesian Model Averaging
Author/Editor: Feldkircher, Martin ; Zeugner, Stefan
Series: Working Paper No. 09/202
Date: September 1, 2009
Subject(s): Data analysis | Economic growth | Economic models
Author's keyword(s): Bayesian model averaging | hyper-g prior | shrinkage factor | Zellner's g prior | model uncertainty | growth econometrics

Title: The Need for Special Resolution Regimes for Financial Institutions—The Case of theEuropean Union
Author/Editor: Cihák, Martin ; Nier, Erlend
Series: Working Paper No. 09/200
Date: September 1, 2009
Subject(s): Bank resolution | Bank supervision | Bankruptcy | Banks | Credit risk | European Union | Financial institutions | Financial risk | Financial sector | Financial stability | Nonbank financial sector | Risk management
Author's keyword(s): Financial Institutions | Resolution Regime | European Union

Title: The Real Effects of Financial Sector Risk
Author/Editor: Tieman, Alexander F. ; Maechler, Andrea M.
Series: Working Paper No. 09/198
Date: September 1, 2009
Subject(s): Banks | Credit expansion | Economic models | European Union | Financial risk | Financial sector | Financial stability
Author's keyword(s): financial sector risk | feedback effects | second-round effects | credit growth

Title: The Derivatives Market in South Africa: Lessons for sub-Saharan African Countries
Author/Editor: Adelegan, Olatundun Janet
Series: Working Paper No. 09/196
Date: September 1, 2009
Subject(s): Bond markets | Capital flows | Capital markets | Financial instruments | Financial risk | Investment | Liquidity management | Risk management | Securities markets | Securities regulations | South Africa | Stock markets | Sub-Saharan Africa
Author's keyword(s): derivatives | South Africa | options | futures

Title: Political Risk Aversion
Author/Editor: Valderrama, Laura
Series: Working Paper No. 09/194
Date: September 1, 2009
Subject(s): Corporate governance | Corporate sector | Economic models | Labor mobility | Political economy | Productivity | Technology transfer | Voting power
Author's keyword(s): Individual uncertainty; Innovation; Dynamic voting; Institutional reform.

Title: The Gambia: Demand for Broad Money and Implications for Monetary Policy Conduct
Author/Editor: Sriram, Subramanian S.
Series: Working Paper No. 09/192
Date: September 1, 2009
Subject(s): Central bank policy | Commercial banks | Demand for money | Economic growth | Economic models | Financial sector | Gambia, The | Inflation targeting | Interest rates on deposits | Liquidity | Monetary policy | Price stabilization | Sub-Saharan Africa | Time series
Author's keyword(s): Broad money | cointegration | error-correction | inflation targeter lite | inflation tergeting | M2 | monetary policy | money demand | sub-Saharan Africa | The Gambia

Title: Fiscal Sustainability in Remittance-Dependent Economies
Author/Editor: Abdih, Yasser ; Chami, Ralph ; Gapen, Michael T. ; Mati, Amine
Series: Working Paper No. 09/190
Date: September 1, 2009
Subject(s): Capital inflows | Debt burden | Debt sustainability | Demand for money | Developing countries | Economic models | Fiscal management | Fiscal sustainability | Gross domestic product | Lebanon | Private savings | Public debt | Workers remittances
Author's keyword(s): Remittances | fiscal sustainability | remittance-dependent economies

Title: Search in the Labor Market Under Imperfectly Insurable Income Risk
Author/Editor: Roca, Mauro
Series: Working Paper No. 09/188
Date: September 1, 2009
Subject(s): Consumption | Economic models | Employment | Financial risk | Income | Income distribution | Insurance | Labor markets | Private savings | Private sector | Unemployment | Wage bargaining | Wages
Author's keyword(s): Unemployment | incomplete markets | unemployment insurance | heterogeneous agents

Title: One Money, One Market - A Revised Benchmark
Author/Editor: Eicher, Theo S. ; Henn, Christian
Series: Working Paper No. 09/186
Date: September 1, 2009
Subject(s): Bilateral trade | Economic models | Markets | Monetary systems | Monetary unions | Trade integration | Trade relations
Author's keyword(s): Currency Unions | Preferencial Trade Agreements | Gravity Equation | Multilateral Resistance

Title: Establishing Conversion Values for New Currency Unions: Method and Application to the planned Gulf Cooperation Council (GCC) Currency Union
Author/Editor: Krueger, Russell C. ; Kamar, Bassem ; Carlotti, Jean-Etienne
Series: Working Paper No. 09/184
Date: August 1, 2009
Subject(s): Convertibility | Convertible currencies | Currencies | East Africa | Economic models | Exchange rate determination | Exchange rates | Monetary unions | Real effective exchange rates | West Africa
Author's keyword(s): Currency union | conversion rates | EAC | East African Community | ECOWAS | Economic Community of West African States | ECU | euro | European Currency Unit | European Monetary Union | GCC | Gulf Cooperation Council | SADC | South African Development Community | WAMZ | West African Monetary Zone.

Title: Understanding the Growth of African Financial Markets
Author/Editor: Yartey, Charles Amo ; Andrianaivo, Mihasonirina
Series: Working Paper No. 09/182
Date: August 1, 2009
Subject(s): Africa | Banking sector | Banking systems | Banks | Bond markets | Capital markets | Corporate sector | Cross country analysis | Economic models | Investment | Political economy | Private savings | Private sector | Stock markets
Author's keyword(s): Banks | Stock Markets | Political Risk | Africa

Title: Credit Growth in Sub-Saharan Africa - Sources, Risks, and Policy Responses
Author/Editor: Iossifov, Plamen ; Khamis, May Y.
Series: Working Paper No. 09/180
Date: August 1, 2009
Subject(s): Bank credit | Bank supervision | Banking sector | Credit demand | Credit expansion | Credit risk | Cross country analysis | Economic models | Financial crisis | Fiscal policy | Household credit | Private sector | Sub-Saharan Africa | Time series
Author's keyword(s): credit growth | financial deepening | Sub-Saharan Africa

Title: Incorporating Market Information into the Construction of the Fan Chart
Author/Editor: Elekdag, Selim ; Kannan, Prakash
Series: Working Paper No. 09/178
Date: August 1, 2009
Subject(s): Data analysis | Economic forecasting | Economic growth | Economic models | Forecasting models | Markets | World Economic Outlook
Author's keyword(s): Fan Chart | Balance of Risks | Option Prices | Consensus Forecasts

Title: Tourism Specialization and Economic Development : Evidence from the UNESCO World Heritage List
Author/Editor: Arezki, Rabah ; Cherif, Reda ; Piotrowski, John
Series: Working Paper No. 09/176
Date: August 1, 2009
Subject(s): Cross country analysis | Development | Economic growth | Economic models | Time series | Tourism
Author's keyword(s): Tourism | economic development and growth and instrumental variables

Title: Fiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries
Author/Editor: York, Robert C. ; Zhan, Zaijin
Series: Working Paper No. 09/174
Date: August 1, 2009
Subject(s): Cross country analysis | Economic growth | Fiscal policy | Fiscal sustainability | National income | Oil prices | Oil producing countries | Oil production | Oil revenues | Oil sector | Sub-Saharan Africa
Author's keyword(s): Oil reserves | fiscal policy | permanent-income hypothesis | sustainability

Title: Is China's Export-Oriented Growth Sustainable?
Author/Editor: Guo, Kai ; N'Diaye, Papa
Series: Working Paper No. 09/172
Date: August 1, 2009
Subject(s): China, People's Republic of | Cross country analysis | Economic growth | Export markets | Export performance | Export prices | Export sector | Exports | Fiscal reforms | Global competitiveness | Industrial sector | Private consumption | Productivity
Author's keyword(s): Export-oriented growth | rebalancing.

Title: Does Good Financial Performance Mean Good Financial Intermediation in China?
Author/Editor: Feyzioglu, Tarhan
Series: Working Paper No. 09/170
Date: August 1, 2009
Subject(s): Bank supervision | Banking | Banking sector | Banks | China, People's Republic of | Depositories | Economic models | Financial intermediation | Financial management | Loans | Monetary policy | Performance indicators | Profits
Author's keyword(s): Financial intermediation | bank efficiency | bank market structure | China

Title: The Challenge of Enforcement in Securities Markets: Mission Impossible?
Author/Editor: Carvajal, Ana ; Elliott, Jennifer A.
Series: Working Paper No. 09/168
Date: August 1, 2009
Subject(s): Capital markets | Cross country analysis | Financial institutions | Financial stability | Financial systems | Governance | International cooperation | Securities legislation | Securities markets | Securities regulations
Author's keyword(s): securities regulation; enforcement

Title: Spillovers of the U.S. Subprime Financial Turmoil to Mainland China and Hong Kong SAR: Evidence from Stock Markets
Author/Editor: Sun, Tao ; Zhang, Xiaojing
Series: Working Paper No. 09/166
Date: August 1, 2009
Subject(s): Asset prices | Capital markets | China, People's Republic of | Credit risk | Economic integration | Economic models | External shocks | Financial crisis | Financial sector | Hong Kong Special Administrative Region of China | Spillovers | Stock markets | Stock prices | United States
Author's keyword(s): subprime crisis; spillovers; GARCH

Title: The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis
Author/Editor: Tong, Hui ; Wei, Shang-Jin
Series: Working Paper No. 09/164
Date: August 1, 2009
Subject(s): Banking crisis | Banking sector | Capital flows | Capital inflows | Credit restraint | Cross country analysis | Emerging markets | Financial crisis | Liquidity controls | Manufacturing sector | Spillovers | Stock prices | Transition economies
Author's keyword(s): financial globalization | financial crisis | spillover | liquidity constraints

Title: Recent Advances in Credit Risk Modeling
Author/Editor: Capuano, Christian ; Chan-Lau, Jorge A. ; Gasha, Jose Giancarlo ; Medeiros, Carlos I. ; Santos, Andre ; Souto, Marcos
Series: Working Paper No. 09/162
Date: August 1, 2009
Subject(s): Asset prices | Bankruptcy | Bonds | Credit risk | Currencies | Economic models | External debt | Financial crisis | Financial risk | Financial sector | Sovereign debt
Author's keyword(s): credit risk

Title: How Effective is Fiscal Policy Response in Systemic Banking Crises?
Author/Editor: Baldacci, Emanuele ; Gupta, Sanjeev ; Mulas-Granados, Carlos
Series: Working Paper No. 09/160
Date: July 1, 2009
Subject(s): Banking crisis | Banking sector | Banks | Cross country analysis | Developed countries | Developing countries | Economic models | External shocks | Financial crisis | Fiscal analysis | Fiscal policy | Time series
Author's keyword(s): Fiscal Policy | Banking Crisis | Financial Crisis

Title: Fiscal Cycles in the Caribbean
Author/Editor: Araujo, Juliana Dutra
Series: Working Paper No. 09/158
Date: July 1, 2009
Subject(s): Business cycles | Capital flows | Capital inflows | Caribbean | Climatic changes | Cross country analysis | Fiscal analysis | Fiscal policy | Political economy | Regional shocks
Author's keyword(s): Procyclicality; fiscal accounts; natural disasters; Caribbean

Title: A Framework for Financial Market Development
Author/Editor: Chami, Ralph ; Fullenkamp, Connel ; Sharma, Sunil
Series: Working Paper No. 09/156
Date: July 1, 2009
Subject(s): Banking sector | Banks | Bond markets | Capital markets | Demand for money | Financial instruments | Financial risk | Financial sector | Financial systems | Loans | Risk management | Securities markets | Stock markets
Author's keyword(s): Financial market development; financial instruments; contracts; borrowers; lenders; liquidity providers; regulators; New Institutional Economics.

Title: The Quality of Public Investment
Author/Editor: Chakraborty, Shankha ; Dabla-Norris, Era
Series: Working Paper No. 09/154
Date: July 1, 2009
Subject(s): Corruption | Economic growth | Economic models | Governance | Government expenditures | Infrastructure | Low-income developing countries | Private investment | Public investment
Author's keyword(s): Public Capital | Corruption | Public Investment

Title: Why Are Canadian Banks More Resilient?
Author/Editor: Ratnovski, Lev ; Huang, Rocco
Series: Working Paper No. 09/152
Date: July 1, 2009
Subject(s): Bank regulations | Banking crisis | Banking sector | Canada | Commercial banks | Cross country analysis | Depositories | Economic models | Financial stability | Monetary policy

Title: Development of the Commercial Banking System in Afghanistan: Risks and Rewards
Author/Editor: Pavlovic, Jelena ; Charap, Joshua
Series: Working Paper No. 09/150
Date: July 1, 2009
Subject(s): Afghanistan, Islamic Republic of | Banking | Banking sector | Commercial banks | Emerging markets | Financial sector | Loans | Profits
Author's keyword(s): Afghanistan | bank lending practices | CAMEL ratings | extra-judicial contract enforcement | emerging market banks.

Title: In Search of Successful Inflation Targeting: Evidence from an Inflation Targeting Index
Author/Editor: Miao, Yanliang
Series: Working Paper No. 09/148
Date: July 1, 2009
Subject(s): Cross country analysis | Economic models | Inflation | Inflation rates | Inflation targeting | Monetary policy | Transparency
Author's keyword(s): Inflation Targeting | Transparency | Flexibility | Factor Analysis

Title: Introducing the Euro as Legal Tender - Benefits and Costs of Eurorization for Cape Verde
Author/Editor: Imam, Patrick A.
Series: Working Paper No. 09/146
Date: July 1, 2009
Subject(s): Benefits | Cape Verde | Cross country analysis | Currency pegs | Currency substitution | Dollarization | Exchange rate regimes | Fiscal policy | Monetary systems
Author's keyword(s): Fixed exchange rate | eurorization | dollarization | Cape Verde

Title: The Effects of the Financial Crisis on Public-Private Partnerships
Author/Editor: Burger, Philippe ; Tyson, Justin ; Karpowicz, I. ; Delgado Coelho, Maria
Series: Working Paper No. 09/144
Date: July 1, 2009
Subject(s): Credit risk | Cross country analysis | Financial crisis | Financial risk | Fiscal policy | Private sector | Public enterprises | Public investment | Public sector | Risk management
Author's keyword(s): PPPs | public investment | financial crises | value-for-money

Title: Will they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors
Author/Editor: Masciandaro, Donato ; Nieto, María ; Quintyn, Marc
Series: Working Paper No. 09/142
Date: July 1, 2009
Subject(s): Bank supervision | Banks | Budgetary policy | Central banks | Economic integration | European Union | Financial sector | Financial systems | Governance | Legislation | Monetary authorities | Transparency
Author's keyword(s): Financial supervision | EU integration | supervisory architectures and governance

Title: The Effects of Economic News on Commodity Prices: Is Gold Just Another Commodity?
Author/Editor: Roache, Shaun K. ; Rossi, Marco
Series: Working Paper No. 09/140
Date: July 1, 2009
Subject(s): Announcements | Commodities | Commodity markets | Commodity price fluctuations | Commodity prices | Economic models | Exchange rates | External shocks | Financial assets | Gold | Public information
Author's keyword(s): Macroeconomic news | gold | volatility | exchange rates

Title: International Risk Sharing: Through Equity Diversification or Exchange Rate Hedging?
Author/Editor: Engel, Charles ; Matsumoto, Akito
Series: Working Paper No. 09/138
Date: July 1, 2009
Subject(s): Asset prices | Bonds | Consumer goods | Domestic investment | Economic models | Exchange rates | Financial risk | Flexible pricing policy | Foreign exchange | Hedge funds | Price elasticity | Prices | Private investment | Stock prices
Author's keyword(s): International portfolio choice | international risk sharing | international diversification

Title: Empirical Evidence on the Effects of Tax Incentives
Author/Editor: Klemm, Alexander ; Van Parys, Stefan
Series: Working Paper No. 09/136
Date: July 1, 2009
Subject(s): Africa | Caribbean | Competition | Corporate sector | Corporate taxes | Cross country analysis | Developing countries | Economic growth | Foreign direct investment | Investment | Latin America | Tax incentives | Tax rates | Time series
Author's keyword(s): Tax incentives | tax competition | investment

Title: Balance of Payments Anti-Crises
Author/Editor: Kumhof, Michael ; Yan, Isabel K.
Series: Working Paper No. 09/134
Date: June 1, 2009
Subject(s): Balance of payments | Current account surpluses | Data analysis | Economic models | Emerging markets | Exchange rate appreciation | Fiscal policy | Foreign exchange reserves | Inflation | Monetary policy | Reserves accumulation
Author's keyword(s): Balance of payments anti-crises | foreign exchange reserves | inflation dynamics

Title: Forecasting Inflation in Sudan
Author/Editor: Moriyama, Kenji ; Naseer, Abdul
Series: Working Paper No. 09/132
Date: June 1, 2009
Subject(s): Central banks | Commodity price fluctuations | Credit expansion | Data analysis | External shocks | Forecasting models | Inflation | Inflation targeting | Monetary policy | Money supply | Private sector | Sudan | Wheat
Author's keyword(s): Inflation | Forecasting | ARMA model | and Granger causality.

Title: Canadian Residential Mortgage Markets: Boring But Effective?
Author/Editor: Kiff, John
Series: Working Paper No. 09/130
Date: June 1, 2009
Subject(s): Bank regulations | Banking sector | Borrowing | Canada | Cross country analysis | Financial systems | Housing | Interest rates | Loans | United States
Author's keyword(s): Housing | mortgage | regulations

Title: External Debt Sustainability in HIPC Completion Point Countries: An Update
Author/Editor: Yang, Jie ; Nyberg, Dan
Series: Working Paper No. 09/128
Date: June 1, 2009
Subject(s): Cross country analysis | Debt sustainability | Export diversification | External debt | Fiscal policy | Fiscal reforms | Governance | HIPC Initiative | Low-income developing countries | Revenue mobilization
Author's keyword(s): External Debt Sustainability; HIPCs; Low-Income Countries

Title: Fiscal Policy Rules for Oil-Producing Countries: A Welfare-Based Assessment
Author/Editor: Maliszewski, Wojciech
Series: Working Paper No. 09/126
Date: June 1, 2009
Subject(s): Debt sustainability | Economic growth | Economic models | Fiscal policy | Fiscal sustainability | Nonoil sector | Oil prices | Oil producing countries | Oil revenues | Welfare
Author's keyword(s): Fiscal sustainability | nonrenewable resource | oil producers | oil | fiscal policy | permanent income

Title: Fiscal Incentive Effects of the German Equalization System
Author/Editor: Stehn, Sven Jari ; Fedelino, Annalisa
Series: Working Paper No. 09/124
Date: June 1, 2009
Subject(s): Data analysis | Economic models | Fiscal policy | Fiscal reforms | Fiscal sustainability | Germany | Government expenditures | Tax policy | Tax reforms
Author's keyword(s): Fiscal federalism and equalization | cyclicality and sustainability of fiscal policy