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Effects of Emerging Market Asset Purchase Program Announcements on Financial Markets During the COVID-19 Pandemic* »

Source: Effects of Emerging Market Asset Purchase Program Announcements on Financial Markets During the COVID-19 Pandemic

Volume/Issue: 2020/292

Series: IMF Working Papers

Author(s): Can Sever , Rohit Goel , Dimitris Drakopoulos , and Evan Papageorgiou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 December 2020

ISBN: 9781513564661

Keywords: Bond yields, Yield curve, Central bank policy rate, Stock markets, Currencies, COVID-19, pandemic, asset purchase program, quantitative easing, bonds

The COVID-19 pandemic led many emerging market central banks to adopt, for the first time, unconventional policies in the form of asset purchase programs. In this study, we analyze the effects of these announcement...

Contagion of Fear: Is the Impact of COVID-19 on Sovereign Risk Really Indiscriminate? »

Source: Contagion of Fear: Is the Impact of COVID-19 on Sovereign Risk Really Indiscriminate?

Volume/Issue: 2020/263

Series: IMF Working Papers

Author(s): Serhan Cevik , and Belma Öztürkkal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2020

ISBN: 9781513561578

Keywords: Credit default swap, COVID-19 , Oil prices, Communicable diseases, Emerging and frontier financial markets, Infectious diseases, sovereign credit risk, CDS spreads, WP, CDS spread

This paper investigates the impact of infectious diseases on the evolution of sovereign credit default swap (CDS) spreads for a panel of 77 advanced and developing countries. Using annual data over the 2004-2020 pe...

Mobile Phone Ownership and Welfare: Evidence from South Africa's Household Survey »

Source: Mobile Phone Ownership and Welfare: Evidence from South Africa's Household Survey

Volume/Issue: 2020/222

Series: IMF Working Papers

Author(s): Ken Miyajima

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2020

ISBN: 9781513558967

Keywords: Consumption, Mobile banking, Estimation techniques, Education, Income, Digitalization, Household Survey, Instrumental Variable Approach, Mobile Phone, South Africa

Digitalization is accelerating as countries fight against the COVID-19 pandemic. In this context, the impact of mobile phone ownership on welfare (represented by consumption) is estimated for South Africa using ric...

Market Power, Growth, and Inclusion: The South African Experience1 »

Source: Market Power, Growth, and Inclusion: The South African Experience

Volume/Issue: 2020/206

Series: IMF Working Papers

Author(s): Vimal Thakoor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2020

ISBN: 9781513557731

Keywords: Competition, Commodity markets, Private investment, Labor markets, Job creation, WP, market power, product market, firm, market concentration

Before the pandemic, the South African economy remained stuck in low gear, with anemic growth, stagnant private investment, and a shrinking tradable sector. Subdued growth has raised unemployment, poverty, and ineq...

Immigration and Employment: Substitute Versus Complementary Labor in Selected African Countries »

Source: Immigration and Employment: Substitute Versus Complementary Labor in Selected African Countries

Volume/Issue: 2020/149

Series: IMF Working Papers

Author(s): Arina Viseth

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 July 2020

ISBN: 9781513551937

Keywords: Labor market policy, Labor market regulations, Human capital, Labor supply, Labor force, Immigration, Formal and Informal Sector, Employment, Occupational Choice, Complementary Versus Substitute Skills

This paper uses census and household survey data on Cameroon, Ghana, and South Africa to examine immigration's impact in the context of a segmented labor market in Sub-Saharan Africa. We find that immigration affec...

Debt, Investment, and Growth in Developing Countries with Segmented Labor Markets† »

Source: Debt, Investment, and Growth in Developing Countries with Segmented Labor Markets

Volume/Issue: 2020/102

Series: IMF Working Papers

Author(s): Edward Buffie , Luis-Felipe Zanna , Christopher Adam , Lacina Balma , Dawit Tessema , and Kangni Kpodar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2020

ISBN: 9781513545639

Keywords: Cost of living, Real sector, National income, Price indexes, Supply and demand, Public Investment, Growth, Debt, Fiscal Policy, Human Capital

We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG) model widely used at the IMF since 2012. The new DIG-Labor models feature segmented labor markets,...

Improving Crop Yields in Sub-Saharan Africa - What Does the East African Data Say »

Source: Improving Crop Yields in Sub-Saharan Africa - What Does the East African Data Say

Volume/Issue: 2020/95

Series: IMF Working Papers

Author(s): Alun Thomas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513546223

Keywords: Economic conditions, Household consumption, Poverty, Household survey data, Consumption, yield, crop, East Africa, inputs, crop damage

Recent micro level data from East Africa is used to benchmark aggregate data and assess the role of agricultural inputs in explaining variation in crop yields on smallholding plots. Fertilizer, improved seeds, prot...

Estimated Policy Rules for Capital Controls »

Source: Estimated Policy Rules for Capital Controls

Volume/Issue: 2020/80

Series: IMF Working Papers

Author(s): Gurnain Kaur Pasricha

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546100

Keywords: Trade policy, Central bank policy, Exchange rate policy, Real effective exchange rates, Monetary policy, capital controls, macroprudential policy, mercantilist motivations, capital flows, emerging markets

This paper borrows the tradition of estimating policy reaction functions from monetary policy literature to ask whether capital controls respond to macroprudential or mercantilist motivations. I explore this questi...

Real Exchange Rate Overshooting in Large Depreciations: Determinants and Consequences1 »

Source: Real Exchange Rate Overshooting in Large Depreciations: Determinants and Consequences

Volume/Issue: 2020/60

Series: IMF Working Papers

Author(s): Alexander Culiuc

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2020

ISBN: 9781513545226

Keywords: Financial crises, Balance sheets, Exchange rate shocks, Developing countries, Real exchange rates, Exchange Rate, External Debt, Open Economy Growth, WP, overshoot

The consequences of large depreciations on economic activity depend on the relative strength of the contractionary balance sheet and expansionary expenditure switching effects. However, the two operate over differe...

The African Continental Free Trade Area: Potential Economic Impact and Challenges »

Source: The African Continental Free Trade Area: Potential Economic Impact and Challenges

Volume/Issue: 2020/4

Series: Staff Discussion Notes

Author(s): Lisandro Abrego , Mario de Zamaroczy , Tunc Gursoy , Garth Nicholls , Hector Perez-Saiz , and Jose-Nicolas Rosas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 May 2020

ISBN: 9781513542379

Keywords: General equilibrium models, Trade barriers, Structural adjustment, Welfare, Forecasting models, Trade negotiations, Economic integration, Open economies, International trade agreements, Trade finance

Political momentum towards Africa-wide free trade has been intensifying. In March 2018, over 40 countries signed the African Continental Free Trade Area (AfCFTA) agreement. Once fully implemented, the AfCFTA is exp...

Competition, Competitiveness and Growth in Sub-Saharan Africa »

Source: Competition, Competitiveness and Growth in Sub-Saharan Africa

Volume/Issue: 2020/30

Series: IMF Working Papers

Author(s): Reda Cherif , Sandesh Dhungana , Xiangming Fang , Jesus Gonzalez-Garcia , Yuanchen Yang , Mustafa Yenice , and Jung Eun Yoon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 February 2020

ISBN: 9781513526379

Keywords: Economic integration, Trade policy, Global competitiveness, Total factor productivity, International trade agreements, Markups, Market Power, Competition, Sub-Saharan Africa, WP

Does greater product market competition improve external competitiveness and growth? This paper examines this question by using country-and firm-level data for a sample of 39 sub-Saharan African countries over 2000...

The Minimum Wage Puzzle in Less Developed Countries: Reconciling Theory and Evidence* »

Source: The Minimum Wage Puzzle in Less Developed Countries: Reconciling Theory and Evidence

Volume/Issue: 2020/23

Series: IMF Working Papers

Author(s): Christopher Adam , and Edward Buffie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2020

ISBN: 9781513527888

Keywords: Real sector, Price indexes, Employment, Labor market characteristics, Human capital, climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies

We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding styliz...

IMF Executive Board Concludes 2019 Article IV Consultation with South Africa »

Source: South Africa : 2019 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for South Africa

Volume/Issue: 2020/33

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

ISBN: 9781513528502

Keywords: Real sector, Balance of payments, Financial statistics, Unemployment, Macroprudential policies and financial stability, ISCR, CR, SARB, Eskom, SOEs

This 2019 Article IV Consultation with South Africa discusses that subdued private investment and exports, and increased uncertainty have depressed growth and worsened social indicators. State-owned enterprises' (S...

South Africa: 2019 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for South Africa »

Source: South Africa : 2019 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for South Africa

Volume/Issue: 2020/33

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

ISBN: 9781513528502

Keywords: Real sector, Balance of payments, Financial statistics, Unemployment, Macroprudential policies and financial stability, ISCR, CR, SARB, Eskom, SOEs

This 2019 Article IV Consultation with South Africa discusses that subdued private investment and exports, and increased uncertainty have depressed growth and worsened social indicators. State-owned enterprises' (S...

South Africa: Selected Issues »

Source: South Africa : Selected Issues

Volume/Issue: 2020/34

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

ISBN: 9781513528519

Keywords: Economic growth, Fiscal sector, Exchange policy, Central banks, Private investments, ISCR, CR, SARB, inflation expectation, volatility

This Selected Issues paper studies the growth-inflation trade-off of monetary policy in South Africa. The combination of low growth and stubbornly high inflation expectations for a protracted period has complicated...

South Africa: Selected Issues »

Source: South Africa : Selected Issues

Volume/Issue: 2020/34

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

ISBN: 9781513528519

Keywords: Economic growth, Fiscal sector, Exchange policy, Central banks, Private investments, ISCR, CR, SARB, inflation expectation, volatility

This Selected Issues paper studies the growth-inflation trade-off of monetary policy in South Africa. The combination of low growth and stubbornly high inflation expectations for a protracted period has complicated...

South Africa: Selected Issues »

Source: South Africa : Selected Issues

Volume/Issue: 2020/34

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

ISBN: 9781513528519

Keywords: Economic growth, Fiscal sector, Exchange policy, Central banks, Private investments, ISCR, CR, SARB, inflation expectation, volatility

This Selected Issues paper studies the growth-inflation trade-off of monetary policy in South Africa. The combination of low growth and stubbornly high inflation expectations for a protracted period has complicated...

South Africa: Staff Report for the 2019 Article IV Consultation—Informational Annex »

Source: South Africa : 2019 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for South Africa

Volume/Issue: 2020/33

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

ISBN: 9781513528502

Keywords: Real sector, Balance of payments, Financial statistics, Unemployment, Macroprudential policies and financial stability, ISCR, CR, SARB, Eskom, SOEs

This 2019 Article IV Consultation with South Africa discusses that subdued private investment and exports, and increased uncertainty have depressed growth and worsened social indicators. State-owned enterprises' (S...

Statement by Mr. Dumisani Hebert Mahlinza, Executive Director and Ms. Mmatshepo Maidi, Senior Advisor on South Africa January 24, 2020 »

Source: South Africa : 2019 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for South Africa

Volume/Issue: 2020/33

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2020

ISBN: 9781513528502

Keywords: Real sector, Balance of payments, Financial statistics, Unemployment, Macroprudential policies and financial stability, ISCR, CR, SARB, Eskom, SOEs

This 2019 Article IV Consultation with South Africa discusses that subdued private investment and exports, and increased uncertainty have depressed growth and worsened social indicators. State-owned enterprises' (S...

One Shock, Many Policy Responses »

Source: One Shock, Many Policy Responses

Volume/Issue: 2020/10

Series: IMF Working Papers

Author(s): Rui Mano , and Silvia Sgherri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

ISBN: 9781513521503

Keywords: Exchange rate policy, International investment position, Foreign exchange reserves, Foreign exchange intervention, Central banks, Capital flows, emerging markets, macroprudential policies, capital flows management., WP

Policymakers have relied on a wide range of policy tools to cope with capital flow shocks. And yet, the effects and interaction of these policies remain under debate, as does the motivation for using them. In this...

Remittance Concentration and Volatility: Evidence from 72 Developing Countries »

Source: Remittance Concentration and Volatility: Evidence from 72 Developing Countries

Volume/Issue: 2020/15

Series: IMF Working Papers

Author(s): Amr Hosny

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

ISBN: 9781513525884

Keywords: Real effective exchange rates, Financial sector development, Exchange rate appreciation, Exchange rate regimes, Terms of trade, Remittances, volatility, remittance concentration, developing countries, WP

This paper contributes to the literature by introducing the role of geographic concentration of the source of remittances. Specifically, using data over 2010-2015 for 72 developing countries, we study the impact of...

The Role of Board Oversight in Central Bank Governance: Key Legal Design Issues »

Source: The Role of Board Oversight in Central Bank Governance: Key Legal Design Issues

Volume/Issue: 2019/293

Series: IMF Working Papers

Author(s): Wouter Bossu , and Arthur D. P. Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

ISBN: 9781513524054

Keywords: Central bank capital, Reserve requirements, Central bank legislation, Central banks, Central bank governance, Board Oversight, Legal Design, WP, oversight board, bank law

This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focu...

Automation, Skills and the Future of Work: What do Workers Think?1 »

Source: Automation, Skills and the Future of Work: What do Workers Think?

Volume/Issue: 2019/288

Series: IMF Working Papers

Author(s): Carlos Mulas-Granados , Richard Varghese , Vizhdan Boranova , Alice deChalendar , and Judith Wallenstein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2019

ISBN: 9781513519906

Keywords: Labor market characteristics, Labor market regulations, Unemployment, Social welfare programs, Labor markets, Automation, Future of Work, Robotization, Education, Reskilling

We exploit a survey data set that contains information on how 11,000 workers across advanced and emerging market economies perceive the main forces shaping the future of work. In general, workers feel more positive...

Exchange Rate Volatility and Pass-Through to Inflation in South Africa »

Source: Exchange Rate Volatility and Pass-Through to Inflation in South Africa

Volume/Issue: 2019/277

Series: IMF Working Papers

Author(s): Ken Miyajima

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2019

ISBN: 9781513521572

Keywords: Unit labor cost, Exchange rate policy, Exchange rate pass-through, Exchange policy, Exchange rate shocks, exchange rate volatility, inflation, WP, core inflation, volatility

Does the South African rand's relatively large volatility affect inflation? To shed some light on this question, a standard estimation technique of exchange rate pass-through to inflation is extended to incorporate...

Back to the Future: Fiscal Rules for Regaining Sustainability »

Source: Back to the Future: Fiscal Rules for Regaining Sustainability

Volume/Issue: 2019/242

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 November 2019

ISBN: 9781513519128

Keywords: Economic stabilization, Fiscal policy, Fiscal indicators, Economic policy, Economic growth, sustainability, procyclicality, debt, fiscal rules, WP

This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal pol...

Création d'une unité de politique fiscale »

Source: Création d'une unité de politique fiscale

Volume: 17

Series: IMF How To Notes

Author(s): Martin Grote

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2019

Language: French

ISBN: 9781498321242

Keywords: Fiscal policy, Tax policy, Tax reforms, Revenue administration, Tax revenue, Création d’une unité de politique fiscale, UPF, analyse d'impact économique, développer l'économie, analyse d'impact

Création d'une unité de politique fiscale...

How to Establish a Tax Policy Unit »

Source: How to Establish a Tax Policy Unit

Series: IMF How To Notes

Author(s): Martin Grote

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2019

Language: Russian

ISBN: 9781498320986

Keywords: Fiscal policy, Tax policy, Tax reforms, Revenue administration, Tax revenue, How to Establish a Tax Policy Unit, TPU, economic impact analysis, develop economy, impact analysis

How to Establish a Tax Policy Unit...

How to Establish a Tax Policy Unit »

Source: How to Establish a Tax Policy Unit

Volume: 17

Series: IMF How To Notes

Author(s): Martin Grote

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2019

Language: Spanish

ISBN: 9781498321280

Keywords: Fiscal policy, Tax policy, Tax reforms, Revenue administration, Tax revenue, How to Establish a Tax Policy Unit, TPU, economic impact analysis, develop economy, impact analysis

How to Establish a Tax Policy Unit...

One Ring to Rule Them All? New Evidence on World Cycles1 »

Source: One Ring to Rule Them All? New Evidence on World Cycles

Volume/Issue: 2019/202

Series: IMF Working Papers

Author(s): Eric Monnet , and Damien Puy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2019

ISBN: 9781513512969

Keywords: Economic integration, Economic policy, Financial crises, Economic systems, Financial statistics, World Cycles, Business Cycles, Financial Cycles, Financial integration, Trade integration

We estimate world cycles using a new quarterly dataset of output, credit and asset prices assembled using IMF archives and covering a large set of advanced and emerging economies since 1950. World cycles, both real...

Finding the Bad Apples in the Barrel: Using the Market Value of Equity to Signal Banking Sector Vulnerabilities »

Source: Finding the Bad Apples in the Barrel: Using the Market Value of Equity to Signal Banking Sector Vulnerabilities

Volume/Issue: 2019/180

Series: IMF Working Papers

Author(s): Will Kerry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2019

ISBN: 9781513511030

Keywords: Bank credit, Financial crises, Credit default swap contract, Central banks, Interest rates on loans, Banks, capital, leverage, market value of capital., capital ratio

This paper measures the performance of different metrics in assessing banking system vulnerabilities. It finds that metrics based on equity market valuations of bank capital are better than regulatory capital ratio...

Regional Growth Spillovers in Sub-Saharan Africa1 »

Source: Regional Growth Spillovers in Sub-Saharan Africa

Volume/Issue: 2019/160

Series: IMF Working Papers

Author(s): Francisco Arizala , Matthieu Bellon , and Margaux MacDonald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2019

ISBN: 9781498320498

Keywords: Globalization, Bilateral trade, Patterns of trade, International trade agreements, External shocks, Growth, Regional Integration, Spillovers, Africa., intra-regional

This paper documents the steady increase in intraregional trade in sub-Saharan Africa since 1980, links this rise to important growth spillovers in the region, and identifies the main source countries and those mos...

Drivers of Cross-Border Banking in Sub-Saharan Africa »

Source: Drivers of Cross-Border Banking in Sub-Saharan Africa

Volume/Issue: 2019/146

Series: IMF Working Papers

Author(s): Paul Mathieu , Marco Pani , Shiyuan Chen , and Rodolfo Maino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2019

ISBN: 9781498321549

Keywords: Economic integration, Financial statistics, Central banks, Price indexes, Banking systems, Cross-border banking flows, Bank leverage, Global banks, bank subsidiary, cross-border

Using data collected from pan-African banks' (PABs), balance sheets and other sources (Orbis, Fitch), this study identifies some key patterns of cross-border investment in bank subsidiaries by key banking groups in...

IMF Executive Board Supports New Strategy for Engagement on Social Spending »

Source: A Strategy for IMF Engagement on Social Spending

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2019

ISBN: 9781498318884

Keywords: Equity and social spending, Sustainable Development Goals (SDG), Social safety nets, Poverty, Age-related spending, Fiscal policy, Social welfare programs, social spend, conditionality, social safety net

Interest in social spending issues has intensified over the last decade. This reflects concerns about rising inequality and the need to support vulnerable groups, especially in the aftermath of the global financial...

A Strategy for IMF Engagement on Social Spending »

Source: A Strategy for IMF Engagement on Social Spending

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2019

ISBN: 9781498318884

Keywords: Equity and social spending, Sustainable Development Goals (SDG), Social safety nets, Poverty, Age-related spending, Fiscal policy, Social welfare programs, social spend, conditionality, social safety net

Interest in social spending issues has intensified over the last decade. This reflects concerns about rising inequality and the need to support vulnerable groups, especially in the aftermath of the global financial...

A Strategy for IMF Engagement on Social Spending »

Source: A Strategy for IMF Engagement on Social Spending

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2019

Language: Spanish

ISBN: 9781513538044

Keywords: Equity and social spending, Sustainable Development Goals (SDG), Social safety nets, Poverty, Age-related spending, Fiscal policy, Social welfare programs, social spend, conditionality, social safety net

Interest in social spending issues has intensified over the last decade. This reflects concerns about rising inequality and the need to support vulnerable groups, especially in the aftermath of the global financial...

A Strategy for IMF Engagement on Social Spending »

Source: A Strategy for IMF Engagement on Social Spending : Case Studies

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2019

ISBN: 9781498318921

Keywords: Equity and social spending, Development policy, Social safety nets, Economic stabilization, Age-related spending, staff report, policy advice, social spend, article IV consultation, CSOs

This paper uses case studies to explore the nature and extent of past IMF engagement on social spending issues and to draw lessons for future engagement....

Une stratégie pour le FMI en matiére de dépenses sociales »

Source: Une stratégie pour le FMI en matière de dépenses sociales

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2019

Language: French

ISBN: 9781498322690

Keywords: Equity and social spending, Sustainable Development Goals (SDG), Social safety nets, Poverty, Age-related spending, Fiscal policy, Social welfare programs, dépenses sociales, conditionnalité, dispositif de protection sociale

La question des dépenses sociales connaît un vif regain d'intérêt depuis une dizaine d'années. La montée des inégalités et le nécessaire soutien des populations vulnérables focalisent de plus en plus d'attention, s...

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model »

Source: The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

Volume/Issue: 2019/124

Series: IMF Working Papers

Author(s): Lisandro Abrego , Maria Alejandra Amado , Tunc Gursoy , Garth Nicholls , and Hector Perez-Saiz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2019

ISBN: 9781498314398

Keywords: Economic integration, Open economies, International trade agreements, Trade finance, Comparative advantage, AfCFTA, welfare, general equilibrium, trade barriers, welfare gain

In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and s...

Designing Labor Market Institutions in Emerging and Developing Economies »

Source: Designing Labor Market Institutions in Emerging and Developing Economies : Evidence and Policy Options

Volume/Issue: 2019/4

Series: Staff Discussion Notes

Author(s): Romain Duval , and Prakash Loungani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2019

ISBN: 9781498313261

Keywords: Labor market institutions, Labor markets, Labor market policy, Market economies, Labor taxes, Employment Protection, Unemployment Benefits, Social Assistance, Cash Transfers, Minimum Wage

This paper discusses theoretical aspects and evidences related to designing labor market institutions in emerging market and developing economies. This note reviews the state of theory and evidence on the design of...

Capital Flows: The Role of Bank and Nonbank Balance Sheets »

Source: Capital Flows: The Role of Bank and Nonbank Balance Sheets

Volume/Issue: 2019/85

Series: IMF Working Papers

Author(s): Yuko Hashimoto , and Signe Krogstrup

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2019

ISBN: 9781498311472

Keywords: Bank credit, Central banks, Private capital flows, Foreign currency exposure, International financial markets, foreign exposure, global factor, risk aversion, global financial crisis, forward contract

This paper assesses the role of bank and nonbank financial institutions' balance sheet foreign exposures and risk management practices in driving capital flow responses to global risk. Using a unique and previously...