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The high priority recommendations from the data report on the observance of standards and codes mission covered both general and sector-specific issues relating to the national accounts, consumer and producer price indices, government finance statistics, monetary statistics, and balance-of-payments statistics. Progress has been made in implementing the recommendation on data sharing and coordination among agencies. A high-level statistics producers committee has been established. Progress on quarterly national accounts data has been slow because of poor response rates to the surveys.

Botswana --- Economic conditions. --- Macroeconomics --- Price Level --- Inflation --- Deflation --- General Aggregative Models: General --- Producer price indexes --- National accounts --- Consumer price indexes --- Prices --- Price indexes --- National income

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This paper reexamines Korea's trade flows. Using the standard demand-based models, the paper finds that owing to the increasing share of electrical and electronic products (EEPs) in total exports, the income elasticity of the Korean export demand has fallen sharply while its price elasticity has risen dramatically. This is a curious result, which begs the question of why. Accordingly, an alternative supply-based model shows that the sharp increase in exports of EEPs is mainly due to Korea's remarkable ability to make technological improvements in their production. After reestimating the standard import equation, the paper finds estimates similar to those from previous studies. Since most of these imports are industrial inputs, they are jointly determined by consumption, fixed investment, and exports.

Exports --- Imports --- International trade --- Exports and Imports --- Macroeconomics --- Trade: General --- Price Level --- Inflation --- Deflation --- Personal Income, Wealth, and Their Distributions --- International economics --- Price elasticity --- Personal income --- Export prices --- Prices --- Income --- Korea, Republic of

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This paper uses the Sjaastad model to estimate the optimal currency area for the Nepalese rupee and concludes that, currently, Nepal may be reasonably well off with its peg to the Indian rupee. As its economy opens and its trade base and trading partners expand, it may want to reevaluate whether moving toward an exchange rate basket including the U.S. dollar may be a better policy choice. The regression results indicate that, currently, the prices of imported goods in Nepal are solely influenced by India, suggesting that with the peg to the Indian rupee, Nepal can isolate the import side of its economy completely from external shocks. On the export side, the regression results indicate that Nepalese export prices seem, to a large extent, to be influenced by U.S. prices. However, the export price index had to be constructed, and the construction methodology is likely to entail an overestimation of the impact of the U.S. dollar.

Currency question -- Nepal. --- Exports -- Prices -- Nepal. --- Foreign exchange administration -- Nepal. --- Exports and Imports --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Price Level --- Deflation --- Trade: General --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- International economics --- Monetary economics --- Exports --- Currencies --- Export prices --- Import prices --- Money --- Imports --- Prices --- United States --- Foreign exchange administration --- Currency question

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In response to high and chronic inflation, countries have adopted different stabilization policies. However, the extent to which these stabilization programs were designed for political motives is not clear. Since exchange-rate-based stabilizations (ERBS) create an initial consumption boom followed by a contraction, whereas money-based stabilizations (MBS) generate a consumption bust followed by a recovery, policymakers may consider the timing of elections when determining the nominal anchor for stabilization. This paper finds strong evidence that the choice of nominal anchor depends on elections, implying the existence of political opportunism. ERBS are, on average, launched before elections while MBS are set after them.

Economic stabilization --- Foreign exchange rates --- Inflation (Finance) --- Adjustment, Economic --- Business stabilization --- Economic adjustment --- Stabilization, Economic --- Economic policy --- Econometric models. --- Banks and Banking --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Monetary Policy --- Price Level --- Deflation --- Macroeconomics: Consumption --- Saving --- Wealth --- Monetary economics --- Banking --- Nominal anchors --- International reserves --- Exchange rate anchor --- Consumption --- Prices --- Monetary policy --- Foreign exchange reserves --- Economics --- Argentina

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The paper finds a significant shift in the economic characteristics of civil conflicts during the1990s. Conflicts have become shorter but with more severe contractions and a stronger recovery of growth. The overall length and cost of the conflict cycle has probably declined. The stance of macroeconomic policy was an important factor while the underlying "conflict process" remained unchanged. This shift seems related to changes in aid flows since the Cold War: donors became disinclined to provide support during conflict, but more inclined after conflict. These findings are buttressed by the post-conflict experience of countries that received financial assistance from the IMF and of the Democratic Republic of Congo (DRC). These findings have implications for policy and aid priorities after conflict.

Economic geography -- Indonesia -- Econometric models. --- Industrial location -- Indonesia -- Econometric models. --- Wages -- Indonesia -- Econometric models. --- Labor --- Macroeconomics --- Industries: Manufacturing --- Wages, Compensation, and Labor Costs: General --- Industry Studies: Manufacturing: General --- Labor Force and Employment, Size, and Structure --- Price Level --- Inflation --- Deflation --- Labour --- income economics --- Manufacturing industries --- Wages --- Manufacturing --- Labor force --- Price indexes --- Wage adjustments --- Labor market --- Indonesia --- Economic geography --- Industrial location --- Econometric models.