Imf Staff Papers Volume 50 No 2 PDF Download
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Author | : Mr.Robert P. Flood |
Publisher | : International Monetary Fund |
Total Pages | : 172 |
Release | : 2003-07-11 |
Genre | : Social Science |
ISBN | : 9781589062023 |
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This paper examines sources of economic growth in East Asia. The conventional growth-accounting approach to estimating the sources of economic growth requires unrealistically strong assumptions about either competitiveness of factor markets or the form of the underlying aggregate production function. The paper outlines a new approach utilizing nonparametric derivative estimation techniques that does not require imposing these restrictive assumptions. The results for East Asian countries show that output elasticities of capital and labor tend to be different from the income shares of these factors. The paper also explores the compensating potential of private intergenerational transfers.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 196 |
Release | : 1986-01-01 |
Genre | : Business & Economics |
ISBN | : 1451946953 |
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WILLIAM. white, who joined the International Monetary Fund in 1948, spent his entire professional life in the Research Department. Present and past staff members, many of whom benefited from his advice, have asked that his contribution-to the work of the Fund should receive recognition in Staff Papers. This appreciation draws on excerpts from written recollections of some of his colleagues.
Author | : International Monetary Fund |
Publisher | : |
Total Pages | : |
Release | : |
Genre | : |
ISBN | : 9781451949704 |
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Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 209 |
Release | : 1981-01-01 |
Genre | : Business & Economics |
ISBN | : 1451946872 |
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The paper discusses the application of economic analysis and statistics to several questions of tax administration and legislation bearing on it. The principle of equalizing marginal administrative costs and marginal tax revenue is suggestive, but persuasive arguments can be made for spending more or less than it indicates. The marginal principle, nevertheless, is valuable as a guide for allocating a fixed appropriation that is too small to cover all remunerative activities. Human capital theory corroborates the productivity of staff training but implies that different financing arrangements may be appropriate for general and specialized training. Economic studies can help in establishing criteria for identifying cases for detailed examination or audit and in making administrative or alternative assessments where accounts are inadequate. A lump-sum, first-year depreciation allowance equal to the discounted value of normal allowances would have merit as a simple method of adjusting for inflation. Tax administrators and economists could benefit from acquaintance with the attitudes and methods of each other's discipline.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 155 |
Release | : 1962-01-01 |
Genre | : Business & Economics |
ISBN | : 1451947127 |
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This paper provides an analysis of attempts at international coordination of national policies leads to the conclusion that true international action that has a good chance to succeed for specific measures, such as changes in exchange rates, customs tariffs, and perhaps discount rates. There is, on the other hand, little reason to assume that the desire prevalent in all countries for full employment, stable prices, and growth could be supported to any important degree by the acceptance of international obligations. The targets of economic policy as they have been put forward for our discussion appear simple and noncontroversial: reasonable price stability, full employment and an adequate rate of growth, and balance of payments equilibrium. If in any country the relationship between wages and employment is such that at full employment wages increase more rapidly than is compatible with price stability, then obviously the price and employment objectives of that country are not compatible.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 340 |
Release | : 1975-01-01 |
Genre | : Business & Economics |
ISBN | : 1451947453 |
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In this paper it is argued that in a system of widespread managed floating, as in a par value system with occasional floating, the problem of asymmetry of adjustment between the issuers of the principal intervention currencies and other countries and the problem of ensuring an effective international management of reserves remain to be solved. If the latter problem is less acute under a floating system, the former problem is potentially more acute than under par values. Although widespread floating would appear to offer no obstacle to the operation of a substitution account, its effect on the acceptability of asset settlement is debatable and it would add considerably to the difficulties of organizing multicurrency intervention. If politically acceptable, a system of guided intervention oriented to an established system of normal exchange rate zones would probably be superior to any other arrangement under floating for the purpose of promoting symmetry in adjustment, while permitting an adequate degree of exchange rate management and avoiding the anomaly of mutually offsetting intervention.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 253 |
Release | : 1980-01-01 |
Genre | : Business & Economics |
ISBN | : 1451946864 |
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This paper analyzes the types of fiscal performance clauses incorporated in the 105 arrangements, bearing in mind the policy and practice to avoid performance clauses relating to specific fiscal measures, such as changes in particular forms of taxation and changes in specific elements of government expenditure. The most usual fiscal performance clause in the ten years to 1978 continued to be a sub ceiling on domestic bank credit to the government. A ceiling on credit expansion to this sector has proved to be a helpful technique for national authorities in obtaining political support for adequate fiscal policy actions and in retaining such support over time. A number of cases were noted where arrears in government payments were built up during the program period, sometimes in an effort to observe, technically, the relevant credit ceilings. It could be argued that such a practice, while not in the spirit of the agreement, forces a diversion of financial resources away from the private sector to the government.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 217 |
Release | : 1991-01-01 |
Genre | : Business & Economics |
ISBN | : 1451947070 |
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The CMEA countries are starting to conduct their trade at world prices and in convertible currencies. These are crucial steps in economic reform but will worsen Eastern Europe’s terms of trade and drive it into current account deficit with the U.S.S.R. Proposals have been made for a payments union, resembling the European Payments Union of 1950–58, to ease the transition. Such an arrangement would not function well if it included the U.S.S.R., which would be a persistent creditor. Other ways must be found to deal with the transition.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 197 |
Release | : 1993 |
Genre | : Business & Economics |
ISBN | : 1451947267 |
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This paper discusses how three countries in Europe—Austria, Turkey, and Finland—emerged from a prolonged inflation, restored viable economies, and resumed economic growth in the 1950s. It also attempts to draw some conclusions based on their experience as well as the experience of some other countries. In mid-1949 the Austrian Government requested assistance from the IMF in the formulation of measures that could lead the economy out of the accelerating price-wage spiral. The key issue was to find a policy mix which would lessen the burden on the budget but would help to maintain full employment. Representatives of industry agreed to the stabilization program only after they were persuaded that it was only through the program that industries could hope to maintain the prosperity that they had enjoyed in the early post-war years. They also realized that it was only thus that they could be freed of detailed government regulations which had become onerous.
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 256 |
Release | : 1993-01-01 |
Genre | : Business & Economics |
ISBN | : 1451947135 |
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The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast, higher public debt indexation has an ambiguous effect on wage indexation. In equilibrium, wage and public debt indexation may be positively or negatively related. This relationship is analyzed in situations where the policymakers can precommit to policies and in those they cannot.