This paper reviews some broad principles of fiscal coverage, building on cross-country experience. It discusses the level of coverage that would be appropria......
During the first half of 2008, Sri Lanka witnessed significantly higher inflation than most other emerging Asian countries. Inflation has since declined amid......
This paper proposes a general framework for monitoring macro-critical energy sectors in low-income countries, defined as consisting of the three subsectors o......
This paper discusses the use of interest rates as the operating target for monetary policy in Tunisia and the roadmap for establishing the other building blo......
A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the b......
Convergence and spillovers across countries and within countries are old, but recurrent policy concerns, and India is no exception to this rule. This paper e......
The paper discusses the challenges facing Albania's fiscal policy following the graduation from the IMF programs. It argues that Albania's public debt remain......
Reconciling the high frequency of price changes at the micro level and their apparent rigidity at the aggregate level has been the subject of considerable de......
This paper explores how the global turmoil affected the risk of banks operating in Chile, and provides evidence that could help strengthen work on vulnerabil......
This article reviews Germany's corporate governance system and the effectiveness of recent reforms. Since the early 1990s far-reaching reforms have complemen......
We investigate the nexus of public and private investment and assess the impact of both types of investment on growth. Using annual data for 1965-2005, we em......
The study presents an analysis of the information content of IMF's Data Quality Assessment Framework (DQAF) indicators. There are significant differences in ......
The Central Bank of Jordan (CBJ) and its operational independence changed over time in line with the evolution of the monetary policy framework and as a resu......
This paper evaluates what type of models can account for the recent episodes of output drops in Latin America. I develop an open economy version of the busin......
Recent turmoil in financial and commodities markets has renewed questions regarding how well markets discover equilibrium prices, particularly when those mar......
This paper evaluates a fiscal scenario based on the assumption of a rapid scaling-up of expenditure to be followed by a rapid scaling-down in the context of ......
Consensus forecasts are inefficient, over-weighting older information already in the public domain at the expense of new private information, when individual......
Empirical studies that use self-reported data on remittances to measure the latter's impact on microeconomic incentives mostly ignore the potential errors as......
We implement a three-step procedure to assess the extent of exposure to real estate in commercial banks. First, we demonstrate interest rates and income to b......
This study assesses the determinants of banking system efficiency in sub-Saharan Africa (SSA) and asks what, besides the degree of efficiency, explains the l......