Recently added articles from IMF Staff Papers:
Editor's note.
Jul 01, 2006 ... The Editor invites from contributors outside the IMF brief comments (not more than 1,000 words) on published articles in IMF Staff Papers. These comments should be addressed to the Editor, who will forward them to the author of the original article for reply. Both the comments and the ...
Volatility and the debt-intolerance paradox.
Jul 01, 2006; ... It is a well-documented empirical regularity that developing countries typically face an upward sloping supply schedule for international debt, and may be altogether excluded from international capital markets at times (Diaz-Alejandro, 1984; Eichengreen and Lindert, 1989; and Sachs, 1989) ....
An estimated small open economy model of the financial accelerator.
Jul 01, 2006; ... Episodes of severe financial crises in recent years have renewed interest in the debate on the most appropriate exchange rate regime for emerging market countries (EMCs). For a small open economy, the common policy prescription--dating back to Friedman (1953)--has advocated exchange rate ...
Relating the knowledge production function to total factor productivity: an endogenous growth puzzle.
Jul 01, 2006; ... The most recent advancement of endogenous growth theory has been the emergence of research and development-based (R & D-based) models of growth in the seminal papers of Romer (1990), Grossman and Helpman (1991a and 1991b), and Aghion and Howitt (1992). This class of models aims to explain ...
New rates from new weights.
Jul 01, 2006; ... This paper updates the weights for effective exchange rate calculations, using trade data from 1999 to 2001. The weights currently used in effective exchange rate indices published in the IMF's International Financial Statistics are based on 1989-91 data, with an adjustment to incorporate ...