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This compilation of summaries of Working Papers released during July-December 1993 is being issued as a part of the Working Paper series. It is designed to provide the reader with an overview of the research work performed by the staff during the period. Authors of Working Papers are normally staff members of the Fund or consultants, although on occasion outside authors may collaborate with a staff member in writing a paper. The views expressed in the Working Papers or their summaries are, however, those of the authors and should not necessarily be interpreted as representing the views of the Fund. Copies of individual Working Papers and information on subscriptions to the annual series of Working Papers may be obtained from IMF Publication Services, International Monetary Fund, 700 19th Street N.W., Washington, D.C. 20431. Telephone: (202) 623-7430 Telefax: (202) 623-7201.

Exports and Imports --- Foreign Exchange --- Labor --- Macroeconomics --- Public Finance --- Finance: General --- Socialist Systems and Transitional Economies: General --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General --- Fiscal Policies and Behavior of Economic Agents: General --- Other Economic Systems: General --- Fiscal Policies and Behavior of Economic Agents: Other --- Economic Growth of Open Economies --- Efficiency --- Optimal Taxation --- Price Level --- Inflation --- Deflation --- Socialist Systems and Transitional Economies: Planning, Coordination, and Reform --- Financial Markets and the Macroeconomy --- Market Structure and Pricing: Oligopoly and Other Forms of Market Imperfection --- International Factor Movements and International Business: General --- Monetary Policy --- Central Banks and Their Policies --- International Monetary Arrangements and Institutions --- International Financial Markets --- Taxation, Subsidies, and Revenue: General --- Socialist Institutions and Their Transitions: Public Economics --- Comparative Studies of Particular Economies --- Macroeconomics: Consumption --- Saving --- Wealth --- Foreign Aid --- Fiscal Policies and Behavior of Economic Agents: Household --- International Policy Coordination and Transmission --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Tax Evasion and Avoidance --- Open Economy Macroeconomics --- Macroeconomic Analyses of Economic Development --- Economywide Country Studies: Africa --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- One, Two, and Multisector Growth Models --- Model Construction and Estimation --- General Aggregative Models: Forecasting and Simulation --- Current Account Adjustment --- Short-term Capital Movements --- Macroeconomic Aspects of International Trade and Finance: General --- Interest Rates: Determination, Term Structure, and Effects --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Policy Objectives --- Policy Designs and Consistency --- Policy Coordination --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labor Demand --- Fiscal Policy --- International Fiscal Issues --- International Public Goods --- Trade Policy --- International Trade Organizations --- Multinational Firms --- International Business --- Intertemporal Firm Choice and Growth, Investment, or Financing --- Economic Growth and Aggregate Productivity: General --- Trade: Forecasting and Simulation --- National Security and War --- Noncooperative Games --- Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior --- Incomes Policy --- Price Policy --- Demand and Supply of Labor: General --- Business Fluctuations --- Cycles --- Analysis of Health Care Markets --- Health: Government Policy --- Regulation --- Public Health --- General Financial Markets: General (includes Measurement and Data) --- Labour --- income economics --- Currency --- Foreign exchange --- Public finance & taxation --- Finance --- Defense spending --- Real exchange rates --- Exchange rates --- Price controls --- Banking --- Expenditure --- Prices --- Private investment --- National accounts --- Expenditures, Public --- Saving and investment --- Debts, External --- Banks and banking --- Fiscal policy --- Russian Federation --- Income economics