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International Monetary Fund. Research Dept.

This paper examines effects of economic growth and speed of adjustment on openness, human development, and fiscal policies. The model developed in this paper postulates that learning through experience raises labor productivity with three major consequences. First, the steady-state growth rate of output becomes endogenous and is influenced by government policies. Second, the speed of adjustment to steady-state growth increases and enhanced learning further reduces adjustment time. Third, both steady-state growth and the optimal net rate of return to capital are higher than the sum of the exogenous rates of technical change and population growth.

International Monetary Fund
This Selected Issues paper analyzes the energy sector and labor market developments in Trinidad and Tobago. It discusses monetary and exchange rate policy and describes the institutional setting and economic structure within which monetary and exchange rate policy is conducted. The framework under which monetary policy is formulated and implemented is outlined. The paper also reviews the evolution of monetary and exchange rate policies, and presents some comments on the effectiveness of monetary and exchange rate policy.
International Monetary Fund
This paper provides information on some of the most salient aspects of Algeria’s economy as well as statistical information for the IMF staff report on the 1995 Article IV Consultation and Request for an Extended Arrangement. The paper also reviews the reforms that have been made to the social safety net over recent years. It also describes the shift away from a system of generalized subsidies, which has been inefficient and costly, to a system of targeted subsidies coupled with the introduction of a public works program and an unemployment insurance scheme.