IMF Staff Papers back issues from January 2005:
Foreword.
Jan 01, 2005; ... The papers published in this special issue of IMF Staff Papers were presented on June 4 and 5, 2004, at an IMF conference honoring Michael Mussa. Mike's 60th birthday, April 15, 2004, presented a perfect excuse for his students, friends, and colleagues to come together to honor his work, ...
IMF conference in honor of Michael Mussa: MussaFest--opening remarks.
Jan 01, 2005; ... Good morning colleagues, ladies, and gentlemen. We will be gathered here today and tomorrow to celebrate the sixtieth birthday of a great economist and, more than that, an extraordinary human being, namely Mike Mussa. I consider it a real privilege to deliver the introductory remarks for ...
Reconsidering expectations of economic growth after World War II from the perspective of 2004.
Jan 01, 2005; ... I want to add to the stories about Michael. At the end of Michael's first year at Chicago, four of his teachers had lunch together at the Quad Club: Al Harberger, Harry Johnson, Zvi Griliches, and I. Each of us said that Michael knew as much as we did in our own field. But no one was ...
On the accuracy of some past and present forecasts.
Jan 01, 2005; ... When forecasts are accurate, rarely does someone comment, "That is what we should have expected to happen." However, when forecasts are inaccurate, they attract attention, usually critical, often in conjunction with an attack not only on the forecaster but also on the entire profession to ...
Growth and volatility in an era of globalization.
Jan 01, 2005; ... During his distinguished tenure as the Economic Counselor of the IMF and Director of its Research Department, Michael Mussa made many important contributions to the literature on globalization and its implications for both industrial and developing countries. Having been at the Fund during ...
The Mussa theorem (and other results on IMF-induced moral hazard).
Jan 01, 2005; ... It must have been sometime in January or February of 1999, when Mike Mussa, sitting in his office on the tenth floor of the IMF headquarters building, remarked to us that if IMF loans were always repaid, there was obviously no way that the IMF could be a source of moral hazard. ...
Country insurance.
Jan 01, 2005; ... The recent wave of financial crises has challenged the role of international financial institutions (IFIs) as crisis managers. IFIs' rescue packages have faced criticism for different, and often opposite, reasons. Whereas antiglobalizers accuse IFIs of providing distressed countries with ...
U.S. trade policy and the adjustment process.
Jan 01, 2005; ... <Pre>Adjustment to changing conditions of international trade ...generally involves decisions in which the costs of adjustmentmust be weighed against the expected future benefits .... Aprincipal objective of government policy should be to create an...
Exchange rate regimes: does what countries say matter?
Jan 01, 2005; ... One of the classic readings on the consequences of the choice of an exchange rate regime is surely Michael Mussa's 1986 paper "Nominal Exchange Rate Regimes and the Behavior of Real Exchange Rates: Evidence and Implications" (Mussa, 1986). On the basis of a wide range of observations drawn ...
The 35 most tumultuous years in monetary history: shocks, the transfer problem, and financial trauma.
Jan 01, 2005; ... The past 35 years have been the most tumultuous in international monetary history. The banking systems in one hundred countries--including Japan, Mexico, Finland, Sweden, Republic of Korea, Thailand, Russia, and Brazil--collapsed in one of three waves; the first wave began in 1982 and ...
Mundell's International Economics: adaptations and debates.
Jan 01, 2005; ... Michael Mussa and I (Boyer) were graduate students together at the University of Chicago from 1966 to 1970. Much of our interaction took place in the International Economics Workshop, which was organized by Harry Johnson and Robert A. Mundell. These were among the workshop's greatest ...