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Philipp Engler, Nathalie Pouokam, Diego Rodriguez Guzman, and Mrs. Irina Yakadina
Voluntary and government-mandated lockdowns in response to COVID-19 have caused causing drastic reductions in economic activity around the world. We present a parsimonious two-country-SIR model with some degree of substitutability between home and foreign goods, and show that trading partners’ asynchronous entries into the global pandemic induce mutual welfare gains from trade. Those gains are realized through exchange rate adjustments that cause a temporary reallocation of production towards the economy with the lowest infection rate at any point in time. We show that international cooperation over containment policies that aim at optimizing global welfare further enhances the ability of countries to exploit trade opportunities to contain the spread of the pandemic. We characterize the Nash game of strategic choices of containment policies as a prisoners’ dilemma.
Mr. Kwangwon Lee

Abstract

The Quarterly National Accounts Manual (the Manual) provides conceptual and practical guidance for compiling quarterly national accounts (QNA) statistics. The Manual offers a comprehensive review of data sources, statistical methods, and compilation techniques to derive official estimates of quarterly GDP. The new edition—which upgrades the first edition, published in 2001—improves and expands the previous content based on recent methodological advances, best country practices, and suggestions received from QNA compilers and experts.

Mr. Kwangwon Lee

Abstract

The Quarterly National Accounts Manual (the Manual) provides conceptual and practical guidance for compiling quarterly national accounts (QNA) statistics. The Manual offers a comprehensive review of data sources, statistical methods, and compilation techniques to derive official estimates of quarterly GDP. The new edition—which upgrades the first edition, published in 2001—improves and expands the previous content based on recent methodological advances, best country practices, and suggestions received from QNA compilers and experts.

International Monetary Fund. Statistics Dept.

Abstract

The 2013 Annual Report of the IMF Committee on Balance of Payments Statistics (Committee) provides an overview of recent trends and discrepancies in global balance of payments statistics, and summarizes the Committee’s work program during 2013 andthe issues the Committee plans to address in the coming year.

International Monetary Fund
This report describes recent developments and issues in Austria. The report discusses the structural features of the Austrian labor market. Two features—the relative importance of foreign labor supply, and the comparatively low labor force participation of certain groups—are analyzed in detail. The historical structure of the Austrian balance of payments is discussed, and the developments in 1994 are analyzed. The report also examines the Austrian tourism industry and its underlying problems. Developments in public finances are also elaborated.