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World Economic Outlook, April 2019

Growth Slowdown, Precarious Recovery

The global economic expansion decelerated in the second half of 2018 with global growth projected to slow to 3.3 percent in 2019, with risks to future growth on the downside.

World Economic Outlook, April 2019

Growth Slowdown, Precarious Recovery

The global economic expansion decelerated in the second half of 2018 with global growth projected to slow to 3.3 percent in 2019, with risks to future growth on the downside.

Optimal Macroprudential Policy and Asset Price Bubbles

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Optimal Macroprudential Policy and Asset Price Bubbles »

Volume/Issue: 2019/184

Series: IMF Working Papers

Author(s): Nina Biljanovska , Lucyna Gornicka , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

DOI: http://dx.doi.org/10.5089/9781513511078.001

ISBN: 9781513511078

Keywords: Economic conditions, Financial crises, Demand, Economic stabilization, Price indexes, Collateral constraints, rational bubbles, macroprudential regulation, optimal policy, WP

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytic...

Optimal Macroprudential Policy and Asset Price Bubbles

New
Optimal Macroprudential Policy and Asset Price Bubbles »

Source: Optimal Macroprudential Policy and Asset Price Bubbles

Volume/Issue: 2019/184

Series: IMF Working Papers

Author(s): Nina Biljanovska , Lucyna Gornicka , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513511078

Keywords: Economic conditions, Financial crises, Demand, Economic stabilization, Price indexes, Collateral constraints, rational bubbles, macroprudential regulation, optimal policy, WP

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytic...

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...

The Economic Impact of Healthcare Quality

The Economic Impact of Healthcare Quality »

Source: The Economic Impact of Healthcare Quality

Volume/Issue: 2019/173

Series: IMF Working Papers

Author(s): Anne-Line Koch Helsø , Nicola Pierri , and Adelina Yanyue Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2019

ISBN: 9781498324595

Keywords: Labor market characteristics, Labor markets, Labor force participation, Labor costs, Labor supply, Hospital quality, healthcare quality, health shocks, hospital productivity, AEL

We study the costs of hospitalizations on patients' earnings and labor supply, using the universe of hospital admissions in Denmark and full-population tax data. We evaluate the quality of treatment based on its ab...

Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women

Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women »

Source: Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women

Volume/Issue: 2019/174

Series: IMF Working Papers

Author(s): Rasmané Ouedraogo , and Idrissa Ouedraogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2019

ISBN: 9781513510545

Keywords: Labor force participation, Demographic indicators, Nonmetropolitan areas, Labor force, Poverty, gender equality, electoral violence, Africa, female-to-male, structural violence

We examine the impact of gender equality on electoral violence in Africa using micro-level data from the sixth round of Afrobarometer surveys. The sample covers 30 countries. We find that gender equality is associa...

Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women

Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women »

Volume/Issue: 2019/174

Series: IMF Working Papers

Author(s): Rasmané Ouedraogo , and Idrissa Ouedraogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2019

DOI: http://dx.doi.org/10.5089/9781513510545.001

ISBN: 9781513510545

Keywords: Labor force participation, Demographic indicators, Nonmetropolitan areas, Labor force, Poverty, gender equality, electoral violence, Africa, female-to-male, structural violence

We examine the impact of gender equality on electoral violence in Africa using micro-level data from the sixth round of Afrobarometer surveys. The sample covers 30 countries. We find that gender equality is associa...

The Economic Impact of Healthcare Quality

The Economic Impact of Healthcare Quality »

Volume/Issue: 2019/173

Series: IMF Working Papers

Author(s): Anne-Line Koch Helsø , Nicola Pierri , and Adelina Yanyue Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2019

DOI: http://dx.doi.org/10.5089/9781498324595.001

ISBN: 9781498324595

Keywords: Labor market characteristics, Labor markets, Labor force participation, Labor costs, Labor supply, Hospital quality, healthcare quality, health shocks, hospital productivity, AEL

We study the costs of hospitalizations on patients' earnings and labor supply, using the universe of hospital admissions in Denmark and full-population tax data. We evaluate the quality of treatment based on its ab...

The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages

The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages »

Volume/Issue: 2019/175

Series: IMF Working Papers

Author(s): Hector Perez-Saiz , Jemma Dridi , Tunc Gursoy , and Mounir Bari

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2019

DOI: http://dx.doi.org/10.5089/9781498324489.001

ISBN: 9781498324489

Keywords: Economic conditions, National accounts aggregates, Real sector, Official development assistance, Foreign direct investment, Remittances, Sub-Saharan Africa, networks, centrality, remittance inflow

We propose a simple macroeconomic model with input-output sectoral linkages based on Acemoglu et al. (2016) to quantify how changes in aggregate demand due to additional income from household's remittances propagat...

Weather Shocks and Output in Low-Income Countries: The Role of Policies and Adaptation

Weather Shocks and Output in Low-Income Countries: The Role of Policies and Adaptation »

Volume/Issue: 2019/178

Series: IMF Working Papers

Author(s): Sebastian Acevedo Mejia , Claudio Baccianti , Mico Mrkaic , Natalija Novta , Evgenia Pugacheva , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2019

DOI: http://dx.doi.org/10.5089/9781513509853.001

ISBN: 9781513509853

Keywords: Economic policy, Economic growth, Economic recovery, Financial crises, Total factor productivity, Climate change, Climate policy, Adaptation to climate change, Weather shock, structural policy

We explore the extent to which macroeconomic policies, structural policies, and institutions can mitigate the negative relationship between temperature shocks and output in countries with warm climates. Empirical e...