02186cas a2200241 a 4500 AALejournalIMF010531 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451956566 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers : Volume 27 No. 1. Washington, D.C. : International Monetary Fund, 1980. 1 online resource (216 pages) IMF Staff Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reports the results of some preliminary research into the repercussions, for income distribution, of stabilization programs associated with the use of IMF resources in the upper credit tranches. In the first section, it explores the relationship between the balance of payments and the distribution of income from a theoretical perspective. The general concern is whether adjustment influences the distribution of income in some systematic manner; the concern is to delineate the conditions under which a decline in the real wage is necessary for adjustment actually to take place. Using neoclassical analysis, one finds that the ratio of the nominal wage to the price of exports must decline, but whether this involves a fall in the overall real wage depends on many variables, including the relative proportions of traded and nontraded goods in the consumer's market basket. Second, it presents a qualitative analysis of the distributional effects of the measures that tend to be included in these programs, viz., ceilings on net credit expansion, currency depreciation, and the relaxation and simplification of exchange restrictions and controls. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1980/001 Full text available on IMF http://elibrary.imf.org/view/journals/024/1980/001/024.1980.issue-001-en.xml IMF e-Library