IMF Staff Papers Vol. 44, No. 4 (December 1997) © 1997 International Monetary Fund Volume 44 Index Volume 44 (1997) comprises four issues, as follows: March, pages 1-103 June, pages 149-294 September, pages 295-356 December, pages 405-600 Authors Alesina, Alberto, and Roberto Perotti. Fiscal Adjustments in OECD Coun- tries: Composition and Macroeconomic Effects Bayoumi, Tamim. Explaining Consumption: A Simple Test of Alternative ERQRERNES 3s, <:c losc ece witanats Vor; Tennis g ealA y Se nivel Ober 0.S atan AROS Bayoumi, Tamim, and Michael W. Klein. A Provincial View of Economic Integration Bayoumi, Tamim, and Eswar Prasad. Currency Unions, Economic Fluctua- tions, and Adjustment: Some New Empirical Evidence Billings, Robert, Brenda Gonzalez-Hermosillo, and Ceyla Pazarbasioglu. De- terminants of Banking System Fragility: A Case Study of Mexico Chadha, Bankim, and Eswar Prasad. Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan Coe, David T., and C. John McDermott. Does the Gap Model Work in Coe, David T., and Dennis J. Snower. Policy Complementarities: The Case for Fundamental Labor Market Reform Debelle, Guy, and Douglas Laxton. Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United Farugee, Hamid, Douglas Laxton, and Steven Symansky. Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence Flood, Robert P., and Nancy P. Marion. Policy Implications of “Second- Generation” Crisis Models Garibaldi, Pietro. The Asymmetric Effects of Monetary Policy on Job Cre- ation and Destruction Gonzalez-Hermosillo, Brenda, Ceyla Pazarbasioglu, and Robert Billings. De- terminants of Banking System Fragility: A Case Study of Mexico Gropp, Reint E. The Effect of Expected Effective Corporate Tax Rates on Incremental Financing Decisions IMF Staff Papers Vol. 44, No. 4 (December 1997) © 1997 International Monetary Fund Volume 44 Index Volume 44 (1997) comprises four issues, as follows: March, pages 1-103 June, pages 149-294 September, pages 295-356 December, pages 405-600 Authors Alesina, Alberto, and Roberto Perotti. Fiscal Adjustments in OECD Coun- tries: Composition and Macroeconomic Effects Bayoumi, Tamim. Explaining Consumption: A Simple Test of Alternative ERQRERNES 3s, <:c losc ece witanats Vor; Tennis g ealA y Se nivel Ober 0.S atan AROS Bayoumi, Tamim, and Michael W. Klein. A Provincial View of Economic Integration Bayoumi, Tamim, and Eswar Prasad. Currency Unions, Economic Fluctua- tions, and Adjustment: Some New Empirical Evidence Billings, Robert, Brenda Gonzalez-Hermosillo, and Ceyla Pazarbasioglu. De- terminants of Banking System Fragility: A Case Study of Mexico Chadha, Bankim, and Eswar Prasad. Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan Coe, David T., and C. John McDermott. Does the Gap Model Work in Coe, David T., and Dennis J. Snower. Policy Complementarities: The Case for Fundamental Labor Market Reform Debelle, Guy, and Douglas Laxton. Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United Farugee, Hamid, Douglas Laxton, and Steven Symansky. Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence Flood, Robert P., and Nancy P. Marion. Policy Implications of “Second- Generation” Crisis Models Garibaldi, Pietro. The Asymmetric Effects of Monetary Policy on Job Cre- ation and Destruction Gonzalez-Hermosillo, Brenda, Ceyla Pazarbasioglu, and Robert Billings. De- terminants of Banking System Fragility: A Case Study of Mexico Gropp, Reint E. The Effect of Expected Effective Corporate Tax Rates on Incremental Financing Decisions VOLUME 44 INDEX Halpern, Laszl6, and Charles Wyplosz. Equilibrium Exchange Rates in Transition Economies Hardy, Daniel C. Market Information and Signaling in Central Bank Oper- ations, or, How Often Should a Central Bank Intervene? ........... Hernandez-Caté, Ernesto. Liberalization and the Behavior of Output During the Transition from Plan to Market Holzman, Robert. Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile Hu, Zuliu F., and Mohsin S. Khan. Why Is China Growing So Fast? Khan, Mohsin S., and Zuliu F. Hu. Why Is China Growing So Fast? Klein, Michael W., and Tamim Bayoumi. A Provincial View of Economic Integration Laxton, Douglas, and Guy Debelle. Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States Laxton, Douglas, Hamid Farugee, and Steven Symansky. Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence Leidy, Michael P. Macroeconomic Conditions and Pressures for Protection Under Antidumping and Countervailing Duty Laws: Empirical Evi- dence from the United States ... Marion, Nancy P., and Robert P. Flood. Policy Implications of “Second- Generation” Crisis Models Pazarbasioglu, Ceyla. A Credit Crunch? Finland in the Aftermath of the Banking Crisis Pazarbasioglu, Ceyla, Brenda Gonzalez-Hermosillo, and Robert Billings. De- terminants of Banking System Fragility: A Case Study of Mexico .... Perotti, Roberto, and Alberto Alesina. Fiscal Adjustments in OECD Coun- tries: Composition and Macroeconomic Effects Prasad, Eswar, and Tamim Bayoumi. Currency Unions, Economic Fluctua- tions, and Adjustment: Some New Empirical Evidence Prasad, Eswar, and Bankim Chadha. Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan Sala-i-Martin, Xavier. Transfers, Social Safety Nets, and Economic Growth Snower, Dennis J., and David T. Coe. Policy Complementarities: The Case for Fundamental Labor Market Reform Symansky, Steven, Douglas Laxton, and Hamid Farugee. Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence . . Tanzi, Vito, and Howell H. Zee. Fiscal Policy and Long-Run Growth .... Vanhoudt, Patrick. Do Labor Market Policies and Growth Fundamentals Matter for Income Inequality in the OECD Countries? ............. 592 VOLUME 44 INDEX Wyplosz, Charles, and Laszi6 Halpern. Equilibrium Exchange Rates in Transition Economies Zee, Howell H., and Vito Tanzi. Fiscal Policy and Long-Run Growth .... Titles The Asymmetric Effects of Monetary Policy on Job Creation and Destruc- tion. By Pietro Garibaldi A Credit Crunch? Finland in the Aftermath of the Banking Crisis. By Ceyla Pazarbasioglu Currency Unions, Economic Fluctuations, and Adjustment: Some New Em- pirical Evidence. By Tamim Bayoumi and Eswar Prasad Determinants of Banking System Fragility: A Case Study of Mexico. By Brenda Gonzdlez-Hermosillo, Ceyla Pazarbasioglu, and Robert RUPEES, 5 (aes as Bit ed Roeabetlae erar e6 dsloh saa ws»: Scully e MR ee =,S heree Do Labor Market Policies and Growth Fundamentals Matter for Income In- equality in the OECD Countries? By Patrick Vanhoudt Does the Gap Model Work in Asia? By David T. Coe and C. John McDermott The Effect of Expected Effective Corporate Tax Rates on Incremental Fi- nancing Decisions. By Reint E. Gropp Equilibrium Exchange Rates in Transition Economies. By Laszl6 Halpern NS TRUS INO oo 6 oie cee SN RES ie ie nw ads RE Pia a ere Explaining Consumption: A Simple Test of Alternative Hypotheses. By Tamim Bayoumi Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects. By Alberto Alesina and Roberto Perotti Fiscal Policy and Long-Run Growth. By Vito Tanzi and Howell Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence. By Hamid Farugqee, Douglas Lax- ton, and Steven Symansky Is the Philiips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States. By Guy Debelle and Douglas Laxton Liberalization and the Behavior of Output During the Transition from Plan to Market. By Ernesto Hernandez-Cata Macroeconomic Conditions and Pressures for Protection Under Antidump- ing and Countervailing Duty Laws: Empirical Evidence from the United States. By Michael P. Leidy Market Information and Signaling in Central Bank Operations, or, How Often Should a Central Bank Intervene? By Daniel C. Hardy Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile. By Robert Holzman VOLUME 44 INDEX Policy Complementarities: The Case for Fundamental Labor Market Re- form. By David T. Coe and Dennis J. Snower Policy Implications of “Second-Generation” Crisis Models. By Robert P. Flood and Nancy P. Marion A Provincial View of Economic Integration. By Tamim Bayoumi and Michael W. Klein Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan. By Bankim Chadha and Eswar Prasad Transfers, Social Safety Nets, and Economic Growth. By Xavier Sala-i- Martin Why is China Growing So Fast? By Zuliu F. Hu and Mohsin S. Khan .... Subjects To facilitate electronic storage and retrieval of bibliographic data, Staff Papers has adopted the subject classification scheme of the Journal of Economic Literature (Nashville, Tennessee). Mathematical and Quantitative Methods Duration Analysis Determinants of Banking System Fragility: A Case Study of Mex- ico. By Brenda Gonzalez-Hermosillo, Ceyla Pazarbasioglu, and Robert Billings Model Construction and Estimation Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States. By Guy Debelle and Dou- glas Laxton Microeconomics Consumer Economics: Empirical Analysis Explaining Consumption: A Simple Test of Alternative Hypotheses. By Tamim Bayoumi Personal Income and Wealth Distribution Do Labor Market Policies and Growth Fundamentals Matter for In- come Inequality in the OECD Countries? By Patrick Vanhoudt . . . Macroeconomics and Monetary Economics Consumption, Saving, Production, Employment, and Investment— General VOLUME 44 INDEX Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence. By Hamid Farugee, Douglas Laxton, and Steven Symansky ... Consumption; Saving Explaining Consumption: A Simple Test of Alternative Hypotheses. By Tamim Bayoumi Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence. By Hamid Farugee, Douglas Laxton, and Steven Symansky Production Liberalization and the Behavior of Output During the Transition from Plan to Market. By Ernesto Hernandez-Cata Employment; Unemployment; Wages Policy Complementarities: The Case for Fundamental Labor Market Reform. By David T. Coe and Dennis J. Snower Forecasting and Simulation Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence. By Hamid Farugee, Douglas Laxton, and Steven Symansky Price Level; Inflation; Deflation Does the Gap Model Work in Asia? By David T. Coe and C. John McDermott Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States. By Guy Debelle and Douglas Laxton Business Fluctuations; Cycles Currency Unions, Economic Fluctuations, and Adjustment: Some New Empirical Evidence By Tamim Bayoumi and Eswar Prasad Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan. By Bankim Chadha and Eswar Prasad Monetary Standards and Regimes; Government and the Monetary System VOLUME 44 INDEX Flood, Robert P., and Nancy P. Marion. Policy Implications of “Second-Generation™ Crisis Models. . 2.2cc.s c.cecc.ceu ss Financial Markets and the Macroeconomy A Credit Crunch? Finland in the Aftermath of the Banking Crisis. By Ceyla Pazarbasioglu Determinants of Banking System Fragility: A Case Study of Mex- ico. By Brenda Gonzalez-Hermosillo, Ceyla Pazarbasioglu, and Robert Billings Monetary Policy (Targets, Instruments, and Effects) Equilibrium Exchange Rates in Transition Economies. By Laszlé Halpern and Charles WY poe? . 6c... seco cc bd esas ew ees Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States. By Guy Debelle and Douglas Laxton Market Information and Signaling in Central Bank Operations, or, How Often Should a Central Bank Intervene? By Daniel C. Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook—General Fiscal Policy and Long-Run Growth. By Vito Tanzi and Howell Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation Do Labor Market Policies and Growth Fundamentals Matter for In- come Inequality in the OECD Countries? By Patrick Vanhoudt .. . Fiscal Adjustments in OECD Countries: Composition and Macro- economic Effects. By Alberto Alesina and Roberto Perotti Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence. By Hamid Farugee, Douglas Laxton, and Steven Symansky International Economics Trade Macroeconomic Conditions and Pressures for Protection Under An- tidumping and Countervailing Duty Laws: Empirical Evidence from the United States. By Michael P. Leidy VOLUME 44 INDEX Economic Integration A Provincial View of Economic Integration. By Tamim Bayoumi and Michael W. Klein Foreign Exchange Equilibrium Exchange Rates in Transition Economies. By Laszlé Halpern and Charles Wyplosz Policy Implications of “Second-Generation” Crisis Models. By Robert P. Flood and Nancy P. Marion The Asymmetric Effects of Monetary Policy on Job Creation and Destruction. By Pietro Garibaldi International Monetary Arrangements and Institutions Currency Unions, Economic Fluctuations, and Adjustment: Some New Empirical Evidence. By Tamim Bayoumi and Eswar Prasad Financial Aspects of Economic Integration A Provincial View of Economic Integration. By Tamim Bayoumi and Michael W. Klein Macroeconomic Aspects of International Trade and Finance Macroeconomic Conditions and Pressures for Protection Under An- tidumping and Countervailing Duty Laws: Empirical Evidence from the United States. By Michael P. Leidy Open Economy Macroeconomics Equilibrium Exchange Rates in Transition Economies. By Laszlé Halpern and Charles Wyplosz Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan. By Bankim Chadha and Eswar Prasad The Asymmetric Effects of Monetary Policy on Job Creation and Destruction. By Pietro Garibaldi Financial Economics Information and Market Efficiency; Event Studies Market Information and Signaling in Central Bank Operations, or, How Often Should a Central Bank Intervene? By Daniel C. VOLUME 44 INDEX Banks; Other Depository Institutions; Mortgages A Credit Crunch? Finland in the Aftermath of the Banking Crisis. By Ceyla Pazarbasioglu Determinants of Banking System Fragility: A Case Study of Mex- ico. By Brenda Gonzalez-Hermosillo, Ceyla Pazarbasioglu, and Robert Billings Pension Funds; Other Private Financial Institutions Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile. By Robert Holzman .. Government Policy and Regulation A Credit Crunch? Finland in the Aftermath of the Banking Crisis. By Ceyla Pazarbasioglu Financing Policy; Capital and Ownership Structure The Effect of Expected Effective Corporate Tax Rates on Incremen- tal Financing Decisions. By Reint E. Gropp Public Economics General Fiscal Policy and Long-Run Growth. By Vito Tanzi and Howell H. Structure and Scope of Government Fiscal Adjustments in OECD Countries: Composition and Macro- economic Effects. By Alberto Alesina and Roberto Perotti Business Taxes The Effect of Expected Effective Corporate Tax Rates on Incremen- tal Financing Decisions. By Reint E. Gropp Fiscal Policies and Behavior of Economic Agents—Household Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence. By Hamid etait Douglas Laxton, and Steven Symansky Fiscal Policies and Behavior of Economic Agents—Firm The Effect of Expected Effective Corporate Tax Rates on Incremen- tal Financirig Decisions. By Reint E. Gropp VOLUME 44 INDEX National Government Expenditures and Related Policies Fiscal Adjustments in OECD Countries: Composition and Macro- economic Effects. By Alberto Alesina and Roberto Perotti Government Expenditures and Welfare Programs Transfers, Social Safety Nets, and Economic Growth. By Xavier Sala-i-Martin Social Security and Public Pensions Transfers, Social Safety Nets, and Economic Growth. By Xavier Sala-i-Martin National Security and War Transfers, Social Safety Nets, and Economic Growth. By Xavier Sala-i-Martin Labor and Demographic Economics Mobility, Unemployment, and Vacancies Policy Complementarities: The Case for Fundamental Labor Market Reform. By David T. Coe and Dennis J. Snower Geographic Labor Mobility; Immigrant Workers Currency Unions, Economic Fluctuations, and Adjustment: Some New Empirical Evidence. By Tamim Bayoumi and Eswar Prasad Economic Development, Technological Change, and Growth General Fiscal Policy and Long-Run Growth. By Vito Tanzi and Howell Human Resources; Income Distribution; Migration Transfers, Social Safety Nets, and Economic Growth. By Xavier Sala-i-Martin Financial Markets; Saving and Capital Investment Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile. By Robert Holzman .. 149 Economic Growth and Aggregate Productivity