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The Negative Mean Output Gap

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The Negative Mean Output Gap »

Volume/Issue: 2019/183

Series: IMF Working Papers

Author(s): Shekhar Aiyar , and Simon Voigts

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 2019

DOI: http://dx.doi.org/10.5089/9781513511740.001

ISBN: 9781513511740

Keywords: Accounting systems, Bank rates, Bond yields, Business cycles, Capital, Capital stocks, Central banking, Central banks, Consumption, Cost of capital

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns...

The Negative Mean Output Gap

New
The Negative Mean Output Gap »

Source: The Negative Mean Output Gap

Volume/Issue: 2019/183

Series: IMF Working Papers

Author(s): Shekhar Aiyar , and Simon Voigts

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 2019

ISBN: 9781513511740

Keywords: Accounting systems, Bank rates, Bond yields, Business cycles, Capital, Capital stocks, Central banking, Central banks, Consumption, Cost of capital

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns...

European Wage Dynamics and Spillovers

European Wage Dynamics and Spillovers »

Source: European Wage Dynamics and Spillovers

Volume/Issue: 2019/156

Series: IMF Working Papers

Author(s): Yuanyan Sophia Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2019

ISBN: 9781498319294

Keywords: Labor market reforms, Labor markets, Real wages, Labor costs, Labor productivity, wages, spillovers, Phillips curve, non-employment, European Union

Wage rises have remained stubbornly low in advanced Europe in recent years, but, at the same time, newer EU members are experiencing rapid wage acceleration. This paper investigates the drivers of this wage diverge...

European Wage Dynamics and Spillovers

European Wage Dynamics and Spillovers »

Volume/Issue: 2019/156

Series: IMF Working Papers

Author(s): Yuanyan Sophia Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2019

DOI: http://dx.doi.org/10.5089/9781498319294.001

ISBN: 9781498319294

Keywords: Labor market reforms, Labor markets, Real wages, Labor costs, Labor productivity, wages, spillovers, Phillips curve, non-employment, European Union

Wage rises have remained stubbornly low in advanced Europe in recent years, but, at the same time, newer EU members are experiencing rapid wage acceleration. This paper investigates the drivers of this wage diverge...

Fiscal Buffers for Natural Disasters in Pacific Island Countries1

Fiscal Buffers for Natural Disasters in Pacific Island Countries1 »

Source: Fiscal Buffers for Natural Disasters in Pacific Island Countries

Volume/Issue: 2019/152

Series: IMF Working Papers

Author(s): Hidetaka Nishizawa , Scott Roger , and Huan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 July 2019

ISBN: 9781498320801

Keywords: Access to foreign markets, Accounting, Accounting standards, Agriculture, Aid flows, Balance of payments, Bank deposits, Bank financing, Banks, Bonds

Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spend...

Fiscal Buffers for Natural Disasters in Pacific Island Countries

Fiscal Buffers for Natural Disasters in Pacific Island Countries »

Volume/Issue: 2019/152

Series: IMF Working Papers

Author(s): Hidetaka Nishizawa , Scott Roger , and Huan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 July 2019

DOI: http://dx.doi.org/10.5089/9781498320801.001

ISBN: 9781498320801

Keywords: Access to foreign markets, Accounting, Accounting standards, Agriculture, Aid flows, Balance of payments, Bank deposits, Bank financing, Banks, Bonds

Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spend...

2014 Triennial Surveillance Review - External Study - Risks and Spillovers

2014 Triennial Surveillance Review - External Study - Risks and Spillovers »

Volume/Issue: 2014/048

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498342926.007

ISBN: 9781498342926

Keywords: Bilateral surveillance, Financial risk, Macroprudential Policy, Monetary policy, Multilateral surveillance, Spillovers, Surveillance, Asset prices, Assets, Balance sheets

...

2014 Triennial Surveillance Review - External Study - Risks and Spillovers

2014 Triennial Surveillance Review - External Study - Risks and Spillovers »

Source: 2014 Triennial Surveillance Review - External Study - Risks and Spillovers

Volume/Issue: 2014/048

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

ISBN: 9781498342926

Keywords: Bilateral surveillance, Financial risk, Macroprudential Policy, Monetary policy, Multilateral surveillance, Spillovers, Surveillance, Asset prices, Assets, Balance sheets

...

Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines

Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines »

Volume/Issue: 2014/047

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2014

DOI: http://dx.doi.org/10.5089/9781498343114.007

ISBN: 9781498343114

Keywords: Collaboration with other international organizations, Collaboration with World Bank, Conditionality, Conditionality guidelines, Fund-supported adjustment programs, Economic conditions, Monetary policy, Economic policy, Interest rate policy, Demand for money

...

Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines

Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines »

Source: Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines

Volume/Issue: 2014/047

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2014

ISBN: 9781498343114

Keywords: Collaboration with other international organizations, Collaboration with World Bank, Conditionality, Conditionality guidelines, Fund-supported adjustment programs, Economic conditions, Monetary policy, Economic policy, Interest rate policy, Demand for money

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