IMF Staff Papers articles from September 2002

IMF Staff Papers archives from September 2002

The impact of banking crises on money demand and price stability.
September 1, 2002... This paper empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay during. 1975-98. Cointegration analysis and error correction modeling are used to research two issues:...

Inflation targeting in the context of IMF-supported adjustment programs.(International Monetary Fund)
September 1, 2002... This paper argues that the IMF's traditional monetary conditionality--a ceiling on net domestic assets of the central bank and a floor on its net international reserves--should be adapted in IMF-supported adjustment programs with countries that...

Wage inequality in the United Kingdom, 1975-99.
September 1, 2002... U.K. cross-sectional wage inequality rose sharply in the 1980s, continued to rise moderately through the mid-1990s, and has remained essentially unchanged since then. As in the U.S., increases in within-group inequality account for a...

Centripetal forces in China's economic takeoff.
September 1, 2002... This paper uses provincial time series data from the People's Republic of China to empirically investigate two propositions relating to economic development: (i) that economic takeoff--or an acceleration in economic growth--is associated with...

What caused the 1991 currency crisis in India?
September 1, 2002... Which model best explains the 1991 currency crisis in India? Did real overvaluation contribute to the crisis? This paper seeks the answers through error correction models and by constructing the equilibrium real exchange rate using a technique...

Technology and epidemics.
September 1, 2002... Evidence from historical and epidemiological literatures shows that epidemics tend to spread in the population according to a logistic pattern. We conjecture that the impact of new technologies on output follows a pattern of spread not unlike...

A prudent central banker.
September 1, 2002... This paper studies the role of prudence in modern central banking. To that end, it relaxes the usual assumption of quadratic preferences and adopts instead an asymmetric preference specification whereby positive deviations from a target can be...

Bankruptcy procedures for Sovereigns: a history of ideas, 1976-2001.
September 1, 2002... This paper describes the evolution of ideas to apply bankruptcy reorganization principles to sovereign debt crises. Our focus is on policy proposals between the late 1970s and Anne Krueger's (2001) proposed "Sovereign Debt Restructuring...