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Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies
			: Assessment and Policy Options

New
Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies : Assessment and Policy Options »

Volume/Issue: 2021/002

Series: Staff Discussion Notes

Author(s): Federico Diez , Romain Duval , Jiayue Fan , José Garrido , Sebnem Kalemli-Ozcan , Chiara Maggi , Maria Martinez Peria , and Nicola Pierri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2021

DOI: http://dx.doi.org/10.5089/9781513574561.006

ISBN: 9781513574561

Keywords: Corporate insolvency, Insolvency, Bankruptcy, Small and medium enterprises, Insolvency, Bankruptcy, “Quasi” Equity Injections, Small- and medium-size enterprises, COVID-19

The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are...

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies: Assessment and Policy Options

New
Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies: Assessment and Policy Options »

Source: Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies : Assessment and Policy Options

Volume/Issue: 2021/002

Series: Staff Discussion Notes

Author(s): Federico Diez , Romain Duval , Jiayue Fan , José Garrido , Sebnem Kalemli-Ozcan , Chiara Maggi , Maria Martinez Peria , and Nicola Pierri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2021

ISBN: 9781513574561

Keywords: Corporate insolvency, Insolvency, Bankruptcy, Small and medium enterprises, Insolvency, Bankruptcy, “Quasi” Equity Injections, Small- and medium-size enterprises, COVID-19

The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are...

Rising Corporate Market Power
			: Emerging Policy Issues

New
Rising Corporate Market Power : Emerging Policy Issues »

Volume/Issue: 2021/001

Series: Staff Discussion Notes

Author(s): Ufuk Akcigit , Wenjie Chen , Federico Diez , Romain Duval , Philipp Engler , Jiayue Fan , Chiara Maggi , Marina Mendes Tavares , Daniel Schwarz , Ippei Shibata , and Carolina Villegas-Sánchez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2021

DOI: http://dx.doi.org/10.5089/9781513512082.006

ISBN: 9781513512082

Keywords: Market competitions, Digital economy, Monetary policy, Business environment, Market power;business dynamism;Mergers and acquisitions;competition policy;digital economy;monetary policy

Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen ma...

Rising Corporate Market Power: Emerging Policy Issues

New
Rising Corporate Market Power: Emerging Policy Issues »

Source: Rising Corporate Market Power : Emerging Policy Issues

Volume/Issue: 2021/001

Series: Staff Discussion Notes

Author(s): Ufuk Akcigit , Wenjie Chen , Federico Diez , Romain Duval , Philipp Engler , Jiayue Fan , Chiara Maggi , Marina Mendes Tavares , Daniel Schwarz , Ippei Shibata , and Carolina Villegas-Sánchez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2021

ISBN: 9781513512082

Keywords: Market competitions, Digital economy, Monetary policy, Business environment, Market power;business dynamism;Mergers and acquisitions;competition policy;digital economy;monetary policy

Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen ma...

Dominant Currencies and External Adjustment

Dominant Currencies and External Adjustment »

Source: Dominant Currencies and External Adjustment

Volume/Issue: 2020/5

Series: Staff Discussion Notes

Author(s): Gustavo Adler , Camila Casas , Luis Cubeddu , Gita Gopinath , Nan Li , Sergii Meleshchuk , Carolina Osorio Buitron , Damien Puy , and Yannick Timmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2020

ISBN: 9781513512150

Keywords: Currency exchange rates, External trade, West African Economic and Monetary Union, Foreign currency exposure, Monetary statistics, Flexible exchange rates, Exchange rate pass-through, trade pricing, trade invoicing, exchange rate

The extensive use of the US dollar when firms set prices for international trade (dubbed dominant currency pricing) and in their funding (dominant currency financing) has come to the forefront of policy debate, rai...

Dominant Currencies and External Adjustment

Dominant Currencies and External Adjustment »

Volume/Issue: 2020/5

Series: Staff Discussion Notes

Author(s): Gustavo Adler , Camila Casas , Luis Cubeddu , Gita Gopinath , Nan Li , Sergii Meleshchuk , Carolina Osorio Buitron , Damien Puy , and Yannick Timmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2020

DOI: http://dx.doi.org/10.5089/9781513512150.006

ISBN: 9781513512150

Keywords: Currency exchange rates, External trade, West African Economic and Monetary Union, Foreign currency exposure, Monetary statistics, Flexible exchange rates, Exchange rate pass-through, trade pricing, trade invoicing, exchange rate

The extensive use of the US dollar when firms set prices for international trade (dubbed dominant currency pricing) and in their funding (dominant currency financing) has come to the forefront of policy debate, rai...

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

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...

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

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

DOI: http://dx.doi.org/10.5089/9781513542379.006

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...

Women in the Labor Force
			: The Role of Fiscal Policies

Women in the Labor Force : The Role of Fiscal Policies »

Volume/Issue: 2020/3

Series: Staff Discussion Notes

Author(s): Anna Fruttero , Daniel Gurara , Lisa Kolovich , Vivian Malta , Marina Mendes Tavares , Nino Tchelishvili , and Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 February 2020

DOI: http://dx.doi.org/10.5089/9781513529134.006

ISBN: 9781513529134

Keywords: Gender, Labor force policy, Gender equality, Fiscal policy, Labor productivity, Poverty, Poverty and inequality, General equilibrium models, Labor force participation, Labor market policy

Despite the increase in female labor force participation over the past three decades, women still do not have the same opportunities as men to participate in economic activities in most countries. The average femal...

Women in the Labor Force

Women in the Labor Force »

Source: Women in the Labor Force : The Role of Fiscal Policies

Volume/Issue: 2020/3

Series: Staff Discussion Notes

Author(s): Anna Fruttero , Daniel Gurara , Lisa Kolovich , Vivian Malta , Marina Mendes Tavares , Nino Tchelishvili , and Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 February 2020

ISBN: 9781513529134

Keywords: Gender, Labor force policy, Gender equality, Fiscal policy, Labor productivity, Poverty, Poverty and inequality, General equilibrium models, Labor force participation, Labor market policy

Despite the increase in female labor force participation over the past three decades, women still do not have the same opportunities as men to participate in economic activities in most countries. The average femal...

Discerning Good from Bad Credit Booms

Discerning Good from Bad Credit Booms »

Source: Discerning Good from Bad Credit Booms : The Role of Construction

Volume/Issue: 2020/2

Series: Staff Discussion Notes

Author(s): Giovanni Dell'Ariccia , Ehsan Ebrahimy , Deniz Igan , and Damien Puy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2020

ISBN: 9781513529370

Keywords: Financial crisis, Bank credit, Credit booms, Employment, Real sector, Financial statistics, Financial crises, Total factor productivity, Credit boom, Value added

Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real sector behaves during booms, and why some booms may go bad, is limited. Despite a large and gr...

Discerning Good from Bad Credit Booms
			: The Role of Construction

Discerning Good from Bad Credit Booms : The Role of Construction »

Volume/Issue: 2020/2

Series: Staff Discussion Notes

Author(s): Giovanni Dell'Ariccia , Ehsan Ebrahimy , Deniz Igan , and Damien Puy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2020

DOI: http://dx.doi.org/10.5089/9781513529370.006

ISBN: 9781513529370

Keywords: Financial crisis, Bank credit, Credit booms, Employment, Real sector, Financial statistics, Financial crises, Total factor productivity, Credit boom, Value added

Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real sector behaves during booms, and why some booms may go bad, is limited. Despite a large and gr...

Finance and Inequality1

Finance and Inequality1 »

Source: Finance and Inequality

Volume/Issue: 2020/1

Series: Staff Discussion Notes

Author(s): Martin Cihak , and Ratna Sahay

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

ISBN: 9781513526546

Keywords: Financial crises, Financial systems, Financial services, Macroprudential policies and financial stability, Financial institutions, SDN, inequality, Sahay, high inequality, financial service

The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by indiv...

Finance and Inequality

Finance and Inequality »

Volume/Issue: 2020/1

Series: Staff Discussion Notes

Author(s): Martin Cihak , and Ratna Sahay

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513526546.006

ISBN: 9781513526546

Keywords: Financial crises, Financial systems, Financial services, Macroprudential policies and financial stability, Financial institutions, SDN, inequality, Sahay, high inequality, financial service

The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by indiv...

The Political Costs of Reforms
			: Fear or Reality?

The Political Costs of Reforms : Fear or Reality? »

Volume/Issue: 2019/8

Series: Staff Discussion Notes

Author(s): Davide Furceri , Jun Ge , Jonathan Ostry , Chris Papageorgiou , and Gabriele Ciminelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2019

DOI: http://dx.doi.org/10.5089/9781513517155.006

ISBN: 9781513517155

Many countries are experiencing persistent, weak medium-term growth and limited fiscal space. Against this background, economic policy agendas-in both advanced and developing economies-are focusing increasingly on...

The Political Costs of Reforms: Fear or Reality?1

The Political Costs of Reforms: Fear or Reality?1 »

Source: The Political Costs of Reforms : Fear or Reality?

Volume/Issue: 2019/8

Series: Staff Discussion Notes

Author(s): Davide Furceri , Jun Ge , Jonathan Ostry , Chris Papageorgiou , and Gabriele Ciminelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2019

ISBN: 9781513517155

Many countries are experiencing persistent, weak medium-term growth and limited fiscal space. Against this background, economic policy agendas-in both advanced and developing economies-are focusing increasingly on...

A Capital Market Union for Europe

A Capital Market Union for Europe »

Source: A Capital Market Union For Europe

Volume/Issue: 2019/7

Series: Staff Discussion Notes

Author(s): Ashok Bhatia , Srobona Mitra , Anke Weber , Shekhar Aiyar , Luiza Antoun de Almeida , Cristina Cuervo , Andre Santos , and Tryggvi Gudmundsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2019

ISBN: 9781498313278

Keywords: Capital markets, Monetary unions, Financial integration, Bilateral payments arrangements, Capital flows, Europe, Financial crises, Economic integration, Economic conditions, Macroprudential policies and financial stability

This note weighs the merits of a capital market union (CMU) for Europe, identifies major obstacles in its path, and recommends a set of carefully targeted policy actions. European capital markets are relatively sm...

A Capital Market Union For Europe

A Capital Market Union For Europe »

Volume/Issue: 2019/7

Series: Staff Discussion Notes

Author(s): Ashok Bhatia , Srobona Mitra , Anke Weber , Shekhar Aiyar , Luiza Antoun de Almeida , Cristina Cuervo , Andre Santos , and Tryggvi Gudmundsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2019

DOI: http://dx.doi.org/10.5089/9781498313278.006

ISBN: 9781498313278

Keywords: Capital markets, Monetary unions, Financial integration, Bilateral payments arrangements, Capital flows, Europe, Financial crises, Economic integration, Economic conditions, Macroprudential policies and financial stability

This note weighs the merits of a capital market union (CMU) for Europe, identifies major obstacles in its path, and recommends a set of carefully targeted policy actions. European capital markets are relatively sm...

A Monitoring Framework for Global Financial Stability

A Monitoring Framework for Global Financial Stability »

Volume/Issue: 2019/6

Series: Staff Discussion Notes

Author(s): Tobias Adrian , Dong He , Nellie Liang , and Fabio Natalucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 August 2019

DOI: http://dx.doi.org/10.5089/9781498300339.006

ISBN: 9781498300339

Keywords: Financial stability, Macroprudential Policy, Financial crises, Real sector, Macroprudential policies and financial stability, Financial institutions, Financial markets, financial conditions, financial condition, Gar

This paper describes the conceptual framework that guides assessments of financial stability risks for multilateral surveillance, as currently presented in the Global Financial Stability Report (GFSR). The framewor...

A Monitoring Framework for Global Financial Stability

A Monitoring Framework for Global Financial Stability »

Source: A Monitoring Framework for Global Financial Stability

Volume/Issue: 2019/6

Series: Staff Discussion Notes

Author(s): Tobias Adrian , Dong He , Nellie Liang , and Fabio Natalucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 August 2019

ISBN: 9781498300339

Keywords: Financial stability, Macroprudential Policy, Financial crises, Real sector, Macroprudential policies and financial stability, Financial institutions, Financial markets, financial conditions, financial condition, Gar

This paper describes the conceptual framework that guides assessments of financial stability risks for multilateral surveillance, as currently presented in the Global Financial Stability Report (GFSR). The framewor...

Strengthening the Euro Area
			: The Role of National Structural Reforms in Building Resilience

Strengthening the Euro Area : The Role of National Structural Reforms in Building Resilience »

Volume/Issue: 2019/5

Series: Staff Discussion Notes

Author(s): Romain Duval , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2019

DOI: http://dx.doi.org/10.5089/9781498319706.006

ISBN: 9781498319706

Keywords: Euro Area (EA), Labor market reforms, Labor market regulations, Total factor productivity, Business cycles, Labor market institutions, Economic growth, Structural reforms, Resilience, product market regulation

The SDN will focus mostly on EA countries but also touch on other AEs for comparison purposes. The SDN will make several original contributions in each of the areas above based on new DSGE-model-based analysis, cro...

Strengthening the Euro Area

Strengthening the Euro Area »

Source: Strengthening the Euro Area : The Role of National Structural Reforms in Building Resilience

Volume/Issue: 2019/5

Series: Staff Discussion Notes

Author(s): Romain Duval , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2019

ISBN: 9781498319706

Keywords: Euro Area (EA), Labor market reforms, Labor market regulations, Total factor productivity, Business cycles, Labor market institutions, Economic growth, Structural reforms, Resilience, product market regulation

The SDN will focus mostly on EA countries but also touch on other AEs for comparison purposes. The SDN will make several original contributions in each of the areas above based on new DSGE-model-based analysis, cro...

Designing Labor Market Institutions in Emerging and Developing Economies

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...

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

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

DOI: http://dx.doi.org/10.5089/9781498313261.006

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...

Fiscal Policy and Development

Fiscal Policy and Development »

Source: Fiscal Policy and Development : Human, Social, and Physical Investments for the SDGs

Volume/Issue: 2019/3

Series: Staff Discussion Notes

Author(s): Vitor Gaspar , David Amaglobeli , Mercedes Garcia-Escribano , Delphine Prady , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2019

ISBN: 9781484388914

Keywords: Sustainable development, Foreign aid, Sustainable Development Goals (SDG), Development, Fiscal policy, Sustainable Development Goals; Fiscal Policy, Sustainable Development Goals, Structure and Scope of Government, General, International Fiscal Issues

The goal of this paper is to estimate the additional annual spending required for meaningful progress on the SDGs in these areas. Our estimates refer to additional spending in 2030, relative to a baseline of curren...

Fiscal Policy and Development
			: Human, Social, and Physical Investments for the SDGs

Fiscal Policy and Development : Human, Social, and Physical Investments for the SDGs »

Volume/Issue: 2019/3

Series: Staff Discussion Notes

Author(s): Vitor Gaspar , David Amaglobeli , Mercedes Garcia-Escribano , Delphine Prady , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2019

DOI: http://dx.doi.org/10.5089/9781484388914.006

ISBN: 9781484388914

Keywords: Sustainable development, Foreign aid, Sustainable Development Goals (SDG), Development, Fiscal policy, Sustainable Development Goals; Fiscal Policy, Sustainable Development Goals, Structure and Scope of Government, General, International Fiscal Issues

The goal of this paper is to estimate the additional annual spending required for meaningful progress on the SDGs in these areas. Our estimates refer to additional spending in 2030, relative to a baseline of curren...

Work In Progress
			: Improving Youth Labor Market Outcomes in Emerging Market and Developing Economies

Work In Progress : Improving Youth Labor Market Outcomes in Emerging Market and Developing Economies »

Volume/Issue: 2019/2

Series: Staff Discussion Notes

Author(s): JaeBin Ahn , Zidong An , John Bluedorn , Gabriele Ciminelli , Zsoka Koczan , Davide Malacrino , Daniela Muhaj , and Patricia Neidlinger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2019

DOI: http://dx.doi.org/10.5089/9781484393901.006

ISBN: 9781484393901

Keywords: Labor market reforms, Labor markets, Fiscal reforms, Product markets, Population, Emerging markets, Developing countries, Youth labor markets; emerging market and developing economies; Okun's law; labor and product market institutions; structural reforms, youth labor markets, emerging market and developing economies

Economic development and growth depend on a country's young people. With most of their working life ahead of them they make up about a third of the working-age population in the typical emerging market and developi...

Work In Progress

Work In Progress »

Source: Work In Progress : Improving Youth Labor Market Outcomes in Emerging Market and Developing Economies

Volume/Issue: 2019/2

Series: Staff Discussion Notes

Author(s): JaeBin Ahn , Zidong An , John Bluedorn , Gabriele Ciminelli , Zsoka Koczan , Davide Malacrino , Daniela Muhaj , and Patricia Neidlinger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2019

ISBN: 9781484393901

Keywords: Labor market reforms, Labor markets, Fiscal reforms, Product markets, Population, Emerging markets, Developing countries, Youth labor markets; emerging market and developing economies; Okun's law; labor and product market institutions; structural reforms, youth labor markets, emerging market and developing economies

Economic development and growth depend on a country's young people. With most of their working life ahead of them they make up about a third of the working-age population in the typical emerging market and developi...

The Future of Saving

The Future of Saving »

Source: The Future of Saving : The Role of Pension System Design in an Aging World

Volume/Issue: 2019/1

Series: Staff Discussion Notes

Author(s): David Amaglobeli , Hua Chai , Era Dabla-Norris , Kamil Dybczak , Mauricio Soto , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 2019

ISBN: 9781484388990

Keywords: Aging, Savings, Demographic transition, Old age pensions, Aging; Demographics; Saving; Pension Spending, Demographics, Saving, Pension Spending, Demographic Trends and Forecasts, General

This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables....

The Future of Saving
			: The Role of Pension System Design in an Aging World

The Future of Saving : The Role of Pension System Design in an Aging World »

Volume/Issue: 2019/1

Series: Staff Discussion Notes

Author(s): David Amaglobeli , Hua Chai , Era Dabla-Norris , Kamil Dybczak , Mauricio Soto , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 2019

DOI: http://dx.doi.org/10.5089/9781484388990.006

ISBN: 9781484388990

Keywords: Aging, Savings, Demographic transition, Old age pensions, Aging; Demographics; Saving; Pension Spending, Demographics, Saving, Pension Spending, Demographic Trends and Forecasts, General

This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables....

Casting Light on Central Bank Digital Currencies1

Casting Light on Central Bank Digital Currencies1 »

Source: Casting Light on Central Bank Digital Currencies

Volume/Issue: 2018/8

Series: Staff Discussion Notes

Author(s): Tommaso Mancini Griffoli , Maria Martinez Peria , Itai Agur , Anil Ari , John Kiff , Adina Popescu , and Celine Rochon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2018

ISBN: 9781484384572

Keywords: Money, Central banking, Currencies, Monetary policy, Central banks, Bank rates, Bank liquidity, Lender of last resort, Bank accounting, Central Bank Digital Currencies

Digitalization is reshaping economic activity, shrinking the role of cash, and spurring new digital forms of money. Central banks have been pondering wheter and how to adapt. One possibility is central bank digital...

Casting Light on Central Bank Digital Currencies

Casting Light on Central Bank Digital Currencies »

Volume/Issue: 2018/8

Series: Staff Discussion Notes

Author(s): Tommaso Mancini Griffoli , Maria Martinez Peria , Itai Agur , Anil Ari , John Kiff , Adina Popescu , and Celine Rochon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2018

DOI: http://dx.doi.org/10.5089/9781484384572.006

ISBN: 9781484384572

Keywords: Money, Central banking, Currencies, Monetary policy, Central banks, Bank rates, Bank liquidity, Lender of last resort, Bank accounting, Central Bank Digital Currencies

Digitalization is reshaping economic activity, shrinking the role of cash, and spurring new digital forms of money. Central banks have been pondering wheter and how to adapt. One possibility is central bank digital...

Economic Gains From Gender Inclusion

Economic Gains From Gender Inclusion »

Source: Economic Gains From Gender Inclusion : New Mechanisms, New Evidence

Volume/Issue: 2018/6

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , Jorge Alvarez , Raphael Espinoza , and Chris Papageorgiou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 October 2018

ISBN: 9781484337127

Keywords: Labor force participation, Gender equality, Employment, Labor supply, Women, Gender Diversity; Female Labor Force Participation; Production Function; Structural Transformation

While progress has been made in increasing female labor force participation (FLFP) in the last 20 years, large gaps remain. The latest Fund research shows that improving gender diversity can result in larger econom...

Gender, Technology, and the Future of Work*

Gender, Technology, and the Future of Work* »

Source: Gender, Technology, and the Future of Work

Volume/Issue: 2018/7

Series: Staff Discussion Notes

Author(s): Mariya Brussevich , Era Dabla-Norris , Christine Kamunge , Pooja Karnane , Salma Khalid , and Kalpana Kochhar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 October 2018

ISBN: 9781484379769

Keywords: Information technology, Technological innovation, Labor force participation, Gender equality, Gender, Automation; Technological Change; Jobs; Female Labor Force; Occupational Choice; Gender Equality

New technologies?digitalization, artificial intelligence, and machine learning?are changing the way work gets done at an unprecedented rate. Helping people adapt to a fast-changing world of work and ameliorating it...

Economic Gains From Gender Inclusion
			: New Mechanisms, New Evidence

Economic Gains From Gender Inclusion : New Mechanisms, New Evidence »

Volume/Issue: 2018/6

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , Jorge Alvarez , Raphael Espinoza , and Chris Papageorgiou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 October 2018

DOI: http://dx.doi.org/10.5089/9781484337127.006

ISBN: 9781484337127

Keywords: Labor force participation, Gender equality, Employment, Labor supply, Women, Gender Diversity; Female Labor Force Participation; Production Function; Structural Transformation

While progress has been made in increasing female labor force participation (FLFP) in the last 20 years, large gaps remain. The latest Fund research shows that improving gender diversity can result in larger econom...

Gender, Technology, and the Future of Work

Gender, Technology, and the Future of Work »

Volume/Issue: 2018/7

Series: Staff Discussion Notes

Author(s): Mariya Brussevich , Era Dabla-Norris , Christine Kamunge , Pooja Karnane , Salma Khalid , and Kalpana Kochhar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 October 2018

DOI: http://dx.doi.org/10.5089/9781484379769.006

ISBN: 9781484379769

Keywords: Information technology, Technological innovation, Labor force participation, Gender equality, Gender, Automation; Technological Change; Jobs; Female Labor Force; Occupational Choice; Gender Equality

New technologies?digitalization, artificial intelligence, and machine learning?are changing the way work gets done at an unprecedented rate. Helping people adapt to a fast-changing world of work and ameliorating it...

Women in Finance: A Case for Closing Gaps

Women in Finance: A Case for Closing Gaps »

Volume/Issue: 2018/5

Series: Staff Discussion Notes

Author(s): Ratna Sahay , and Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 September 2018

DOI: http://dx.doi.org/10.5089/9781484375907.006

ISBN: 9781484375907

Keywords: Bank supervision, Banking, Economic growth, Financial stability, Gender equality, Gender, Financial inclusion, Boards of Directors

Women are underrepresented at all levels of the global financial system, from depositors and borrowers to bank board members and regulators. A new study at the IMF finds that greater inclusion of women as users, p...

Women in Finance: A Case for Closing Gaps

Women in Finance: A Case for Closing Gaps »

Source: Women in Finance: A Case for Closing Gaps

Volume/Issue: 2018/5

Series: Staff Discussion Notes

Author(s): Ratna Sahay , and Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 September 2018

ISBN: 9781484375907

Keywords: Bank supervision, Banking, Economic growth, Financial stability, Gender equality, Gender, Financial inclusion, Boards of Directors

Women are underrepresented at all levels of the global financial system, from depositors and borrowers to bank board members and regulators. A new study at the IMF finds that greater inclusion of women as users, p...

Second-Generation Fiscal Rules
			: Balancing Simplicity, Flexibility, and Enforceability

Second-Generation Fiscal Rules : Balancing Simplicity, Flexibility, and Enforceability »

Volume/Issue: 2018/4

Series: Staff Discussion Notes

Author(s): Luc Eyraud , Xavier Debrun , Andrew Hodge , Victor Lledo , and Catherine Pattillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

DOI: http://dx.doi.org/10.5089/9781484350683.006

ISBN: 9781484350683

Keywords: Debt, Fiscal policy, Fiscal rules, deficit bias, fiscal governance, Structure and Scope of Government, Deficit

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fisca...

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability »

Source: Second-Generation Fiscal Rules : Balancing Simplicity, Flexibility, and Enforceability

Volume/Issue: 2018/4

Series: Staff Discussion Notes

Author(s): Luc Eyraud , Xavier Debrun , Andrew Hodge , Victor Lledo , and Catherine Pattillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484350683

Keywords: Debt, Fiscal policy, Fiscal rules, deficit bias, fiscal governance, Structure and Scope of Government, Deficit

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fisca...

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability - Technical Background Papers

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability - Technical Background Papers »

Source: Second-Generation Fiscal Rules : Balancing Simplicity, Flexibility, and Enforceability

Volume/Issue: 2018/4

Series: Staff Discussion Notes

Author(s): Luc Eyraud , Xavier Debrun , Andrew Hodge , Victor Lledo , and Catherine Pattillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484350683

Keywords: Debt, Fiscal policy, Fiscal rules, deficit bias, fiscal governance, Structure and Scope of Government, Deficit

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fisca...

A Central Fiscal Stabilization Capacity for the Euro Area

A Central Fiscal Stabilization Capacity for the Euro Area »

Source: A Central Fiscal Stabilization Capacity for the Euro Area

Volume/Issue: 2018/3

Series: Staff Discussion Notes

Author(s): Nathaniel Arnold , Bergljot Barkbu , H. Elif Ture , Hou Wang , and Jiaxiong Yao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2018

ISBN: 9781484348178

Keywords: Euro Area, Fiscal policy, Euro Area; Fiscal Integration; Macroeconomic Stabilization; Central fiscal capacity; Fiscal policy; Macroeconomic policy mix; Fiscal union;, Fiscal Integration, Macroeconomic Stabilization

This note outlines a concrete proposal for a euro area central fiscal capacity (CFC) that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic stabilization fund fina...

A Central Fiscal Stabilization Capacity for the Euro Area Technical Appendix

A Central Fiscal Stabilization Capacity for the Euro Area Technical Appendix »

Source: A Central Fiscal Stabilization Capacity for the Euro Area

Volume/Issue: 2018/3

Series: Staff Discussion Notes

Author(s): Nathaniel Arnold , Bergljot Barkbu , H. Elif Ture , Hou Wang , and Jiaxiong Yao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2018

ISBN: 9781484348178

Keywords: Euro Area, Fiscal policy, Euro Area; Fiscal Integration; Macroeconomic Stabilization; Central fiscal capacity; Fiscal policy; Macroeconomic policy mix; Fiscal union;, Fiscal Integration, Macroeconomic Stabilization

This note outlines a concrete proposal for a euro area central fiscal capacity (CFC) that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic stabilization fund fina...

A Central Fiscal Stabilization Capacity for the Euro Area

A Central Fiscal Stabilization Capacity for the Euro Area »

Volume/Issue: 2018/3

Series: Staff Discussion Notes

Author(s): Nathaniel Arnold , Bergljot Barkbu , H. Elif Ture , Hou Wang , and Jiaxiong Yao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2018

DOI: http://dx.doi.org/10.5089/9781484348178.006

ISBN: 9781484348178

Keywords: Euro Area, Fiscal policy, Euro Area; Fiscal Integration; Macroeconomic Stabilization; Central fiscal capacity; Fiscal policy; Macroeconomic policy mix; Fiscal union;, Fiscal Integration, Macroeconomic Stabilization

This note outlines a concrete proposal for a euro area central fiscal capacity (CFC) that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic stabilization fund fina...

Trade-offs in Bank Resolution

Trade-offs in Bank Resolution »

Volume/Issue: 2018/2

Series: Staff Discussion Notes

Author(s): Giovanni Dell'Ariccia , Maria Martinez Peria , Deniz Igan , Elsie Addo Awadzi , Marc Dobler , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 February 2018

DOI: http://dx.doi.org/10.5089/9781484341001.006

ISBN: 9781484341001

Keywords: Spillovers, Bank bailouts, bank insolvency, bail-outs, bail-ins, larger capital buffers, Bank resolution, Financial regulation

This SDN revisits the debate on bank resolution regimes, first by presenting a simple model of bank insolvency that transparently describes the trade-off involved between bail-outs, bail-ins, and larger capital buf...

Trade-offs in Bank Resolution

Trade-offs in Bank Resolution »

Source: Trade-offs in Bank Resolution

Volume/Issue: 2018/2

Series: Staff Discussion Notes

Author(s): Giovanni Dell'Ariccia , Maria Martinez Peria , Deniz Igan , Elsie Addo Awadzi , Marc Dobler , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 February 2018

ISBN: 9781484341001

Keywords: Spillovers, Bank bailouts, bank insolvency, bail-outs, bail-ins, larger capital buffers, Bank resolution, Financial regulation

This SDN revisits the debate on bank resolution regimes, first by presenting a simple model of bank insolvency that transparently describes the trade-off involved between bail-outs, bail-ins, and larger capital buf...

Inequality and Poverty across Generations in the European Union

Inequality and Poverty across Generations in the European Union »

Volume/Issue: 2018/1

Series: Staff Discussion Notes

Author(s): Tingyun Chen , Jean-Jacques Hallaert , Alexander Pitt , Haonan Qu , Maximilien Queyranne , Alaina Rhee , Anna Shabunina , Jérôme Vandenbussche , and Irene Yackovlev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2018

DOI: http://dx.doi.org/10.5089/9781484338445.006

ISBN: 9781484338445

Keywords: Fiscal policy, Labor market policy, Labor policy, Income inequality, Poverty and inequality, Inequality, Poverty, Europe, Redistribution

This SDN studies the evolution of inequality across age groups leading up to and since the global financial crisis, as well as implications for fiscal and labor policies. Europe's population is aging, child and you...

Inequality and Poverty across Generations in the European Union

Inequality and Poverty across Generations in the European Union »

Source: Inequality and Poverty across Generations in the European Union

Volume/Issue: 2018/1

Series: Staff Discussion Notes

Author(s): Tingyun Chen , Jean-Jacques Hallaert , Alexander Pitt , Haonan Qu , Maximilien Queyranne , Alaina Rhee , Anna Shabunina , Jérôme Vandenbussche , and Irene Yackovlev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2018

ISBN: 9781484338445

Keywords: Fiscal policy, Labor market policy, Labor policy, Income inequality, Poverty and inequality, Inequality, Poverty, Europe, Redistribution

This SDN studies the evolution of inequality across age groups leading up to and since the global financial crisis, as well as implications for fiscal and labor policies. Europe's population is aging, child and you...

Big Data

Big Data »

Source: Big Data : Potential, Challenges and Statistical Implications

Volume/Issue: 2017/6

Series: Staff Discussion Notes

Author(s): Cornelia Hammer , Diane Kostroch , and Gabriel Quiros

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2017

ISBN: 9781484310908

Keywords: Surveillance, Big Data, Macroeconomic and Financial Statistics, Official Statistics, Data Quality, General, Institutions and the Macroeconomy, Introductory Material

Big data are part of a paradigm shift that is significantly transforming statistical agencies, processes, and data analysis. While administrative and satellite data are already well established, the statistical com...

Big Data
			: Potential, Challenges and Statistical Implications

Big Data : Potential, Challenges and Statistical Implications »

Volume/Issue: 2017/6

Series: Staff Discussion Notes

Author(s): Cornelia Hammer , Diane Kostroch , and Gabriel Quiros

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2017

DOI: http://dx.doi.org/10.5089/9781484310908.006

ISBN: 9781484310908

Keywords: Surveillance, Big Data, Macroeconomic and Financial Statistics, Official Statistics, Data Quality, General, Institutions and the Macroeconomy, Introductory Material

Big data are part of a paradigm shift that is significantly transforming statistical agencies, processes, and data analysis. While administrative and satellite data are already well established, the statistical com...

Fintech and Financial Services

Fintech and Financial Services »

Source: Fintech and Financial Services : Initial Considerations

Volume/Issue: 2017/5

Series: Staff Discussion Notes

Author(s): Dong He , Ross Leckow , Vikram Haksar , Tommaso Mancini Griffoli , Nigel Jenkinson , Mikari Kashima , Tanai Khiaonarong , Celine Rochon , and Hervé Tourpe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2017

ISBN: 9781484303771

Keywords: Central banks, Financial sector, International cooperation, Fintech, cross border payments, market structure, financial regulation, financial stability, monetary policy, virtual currencies

A new wave of technological innovations, often called 'fintech,' is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper s...

Fintech and Financial Services: Initial Considerations

Fintech and Financial Services: Initial Considerations »

Source: Fintech and Financial Services : Initial Considerations

Volume/Issue: 2017/5

Series: Staff Discussion Notes

Author(s): Dong He , Ross Leckow , Vikram Haksar , Tommaso Mancini Griffoli , Nigel Jenkinson , Mikari Kashima , Tanai Khiaonarong , Celine Rochon , and Hervé Tourpe

Publisher: Bank of Communications/New Finance

Publication Date: 19 June 2017

Language: Chinese

ISBN: 9781484322383

Keywords: Central banks, Financial sector, International cooperation, Fintech, cross border payments, market structure, financial regulation, financial stability, monetary policy, virtual currencies

A new wave of technological innovations, often called 'fintech,' is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper s...

Fintech and Financial Services
			: Initial Considerations

Fintech and Financial Services : Initial Considerations »

Volume/Issue: 2017/5

Series: Staff Discussion Notes

Author(s): Dong He , Ross Leckow , Vikram Haksar , Tommaso Mancini Griffoli , Nigel Jenkinson , Mikari Kashima , Tanai Khiaonarong , Celine Rochon , and Hervé Tourpe

Publisher: Bank of Communications/New Finance

Publication Date: 19 June 2017

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781484322383.006

ISBN: 9781484322383

Keywords: Central banks, Financial sector, International cooperation, Fintech, cross border payments, market structure, financial regulation, financial stability, monetary policy, virtual currencies

A new wave of technological innovations, often called 'fintech,' is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper s...

Fintech and Financial Services
			: Initial Considerations

Fintech and Financial Services : Initial Considerations »

Volume/Issue: 2017/5

Series: Staff Discussion Notes

Author(s): Dong He , Ross Leckow , Vikram Haksar , Tommaso Mancini Griffoli , Nigel Jenkinson , Mikari Kashima , Tanai Khiaonarong , Celine Rochon , and Hervé Tourpe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2017

DOI: http://dx.doi.org/10.5089/9781484303771.006

ISBN: 9781484303771

Keywords: Central banks, Financial sector, International cooperation, Fintech, cross border payments, market structure, financial regulation, financial stability, monetary policy, virtual currencies

A new wave of technological innovations, often called 'fintech,' is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper s...

Gone with the Headwinds

Gone with the Headwinds »

Source: Gone with the Headwinds : Global Productivity

Volume/Issue: 2017/4

Series: Staff Discussion Notes

Author(s): Gustavo Adler , Romain Duval , Davide Furceri , Sinem K?l?ç Çelik , Ksenia Koloskova , and Marcos Poplawski-Ribeiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2017

ISBN: 9781475589672

Keywords: Labor productivity, Total factor productivity, Economic growth, Financial crisis, Fiscal policy, Labor Productivity, Total factor Productivity, Growth

Productivity growth-the key driver of living standards-fell sharply following the global financial crisis and has remained sluggish since, adding to a slowdown already in train before. Building on new research, thi...

Gone with the Headwinds
			: Global Productivity

Gone with the Headwinds : Global Productivity »

Volume/Issue: 2017/4

Series: Staff Discussion Notes

Author(s): Gustavo Adler , Romain Duval , Davide Furceri , Sinem K?l?ç Çelik , Ksenia Koloskova , and Marcos Poplawski-Ribeiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2017

DOI: http://dx.doi.org/10.5089/9781475589672.006

ISBN: 9781475589672

Keywords: Labor productivity, Total factor productivity, Economic growth, Financial crisis, Fiscal policy, Labor Productivity, Total factor Productivity, Growth

Productivity growth-the key driver of living standards-fell sharply following the global financial crisis and has remained sluggish since, adding to a slowdown already in train before. Building on new research, thi...

Labor and Product Market Reforms in Advanced Economies
			: Fiscal Costs, Gains, and Support

Labor and Product Market Reforms in Advanced Economies : Fiscal Costs, Gains, and Support »

Volume/Issue: 2017/3

Series: Staff Discussion Notes

Author(s): Angana Banerji , Valerio Crispolti , Era Dabla-Norris , Romain Duval , Christian Ebeke , Davide Furceri , Takuji Komatsuzaki , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2017

DOI: http://dx.doi.org/10.5089/9781475583977.006

ISBN: 9781475583977

Keywords: Business cycles, Developed countries, Employment, Fiscal policy, Fiscal reforms, Labor market reforms, Legislation, Fiscal Policy; Structural Reforms; Public Debt; Labor Market; Product Market; Deregulation; Employment Protection; Unemployment Benefits; Labor Tax; Active Labor Market Policy, Structural Reforms, Public Debt

Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effect...

Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support

Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support »

Source: Labor and Product Market Reforms in Advanced Economies : Fiscal Costs, Gains, and Support

Volume/Issue: 2017/3

Series: Staff Discussion Notes

Author(s): Angana Banerji , Valerio Crispolti , Era Dabla-Norris , Romain Duval , Christian Ebeke , Davide Furceri , Takuji Komatsuzaki , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2017

ISBN: 9781475583977

Keywords: Business cycles, Developed countries, Employment, Fiscal policy, Fiscal reforms, Labor market reforms, Legislation, Fiscal Policy; Structural Reforms; Public Debt; Labor Market; Product Market; Deregulation; Employment Protection; Unemployment Benefits; Labor Tax; Active Labor Market Policy, Structural Reforms, Public Debt

Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effect...

Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support— Case Studies of Finland, Germany, Ireland, the Netherlands, and the United Kingdom

Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support— Case Studies of Finland, Germany, Ireland, the Netherlands, and the United Kingdom »

Source: Labor and Product Market Reforms in Advanced Economies : Fiscal Costs, Gains, and Support

Volume/Issue: 2017/3

Series: Staff Discussion Notes

Author(s): Angana Banerji , Valerio Crispolti , Era Dabla-Norris , Romain Duval , Christian Ebeke , Davide Furceri , Takuji Komatsuzaki , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2017

ISBN: 9781475583977

Keywords: Business cycles, Developed countries, Employment, Fiscal policy, Fiscal reforms, Labor market reforms, Legislation, Fiscal Policy; Structural Reforms; Public Debt; Labor Market; Product Market; Deregulation; Employment Protection; Unemployment Benefits; Labor Tax; Active Labor Market Policy, Structural Reforms, Public Debt

Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effect...

Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support - Technical Appendix

Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support - Technical Appendix »

Source: Labor and Product Market Reforms in Advanced Economies : Fiscal Costs, Gains, and Support

Volume/Issue: 2017/3

Series: Staff Discussion Notes

Author(s): Angana Banerji , Valerio Crispolti , Era Dabla-Norris , Romain Duval , Christian Ebeke , Davide Furceri , Takuji Komatsuzaki , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2017

ISBN: 9781475583977

Keywords: Business cycles, Developed countries, Employment, Fiscal policy, Fiscal reforms, Labor market reforms, Legislation, Fiscal Policy; Structural Reforms; Public Debt; Labor Market; Product Market; Deregulation; Employment Protection; Unemployment Benefits; Labor Tax; Active Labor Market Policy, Structural Reforms, Public Debt

Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effect...

Measure up
			: A Better Way to Calculate GDP

Measure up : A Better Way to Calculate GDP »

Volume/Issue: 2017/2

Series: Staff Discussion Notes

Author(s): Thomas Alexander , Claudia Dziobek , Marco Marini , Eric Metreau , and Michael Stanger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 February 2017

DOI: http://dx.doi.org/10.5089/9781475572605.006

ISBN: 9781475572605

Keywords: GDP at constant prices, GDP deflator, G20 Data Gaps Initiative, single and double deflation, China, India

To derive real GDP, the System of National Accounts 2008 (2008 SNA) recommends a technique called double deflation. Some countries use single deflation techniques, which fail to capture important relative price cha...

Measure up

Measure up »

Source: Measure up : A Better Way to Calculate GDP

Volume/Issue: 2017/2

Series: Staff Discussion Notes

Author(s): Thomas Alexander , Claudia Dziobek , Marco Marini , Eric Metreau , and Michael Stanger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 February 2017

ISBN: 9781475572605

Keywords: GDP at constant prices, GDP deflator, G20 Data Gaps Initiative, single and double deflation, China, India

To derive real GDP, the System of National Accounts 2008 (2008 SNA) recommends a technique called double deflation. Some countries use single deflation techniques, which fail to capture important relative price cha...

Macro-Structural Policies and Income Inequality in Low-Income Developing Countries

Macro-Structural Policies and Income Inequality in Low-Income Developing Countries »

Volume/Issue: 2017/1

Series: Staff Discussion Notes

Author(s): Stefania Fabrizio , Davide Furceri , Rodrigo Garcia-Verdu , Bin Grace Li , Sandra Lizarazo Ruiz , Marina Mendes Tavares , Futoshi Narita , and Adrian Peralta-Alva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2017

DOI: http://dx.doi.org/10.5089/9781475566222.006

ISBN: 9781475566222

Keywords: Economic growth, Economic indicators, Fiscal reforms, Fiscal policy, Financial sector, Agricultural sector, Low-income developing countries, Resource mobilization, Social indicators, Financial sector reform

Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of inequality can impair t...

Macro-Structural Policies and Income Inequality in Low-Income Developing Countries

Macro-Structural Policies and Income Inequality in Low-Income Developing Countries »

Source: Macro-Structural Policies and Income Inequality in Low-Income Developing Countries

Volume/Issue: 2017/1

Series: Staff Discussion Notes

Author(s): Stefania Fabrizio , Davide Furceri , Rodrigo Garcia-Verdu , Bin Grace Li , Sandra Lizarazo Ruiz , Marina Mendes Tavares , Futoshi Narita , and Adrian Peralta-Alva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2017

ISBN: 9781475566222

Keywords: Economic growth, Economic indicators, Fiscal reforms, Fiscal policy, Financial sector, Agricultural sector, Low-income developing countries, Resource mobilization, Social indicators, Financial sector reform

Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of inequality can impair t...

Macroeconomic Management When Policy Space is Constrained
			: A Comprehensive, Consistent and Coordinated Approach to Economic Policy

Macroeconomic Management When Policy Space is Constrained : A Comprehensive, Consistent and Coordinated Approach to Economic Policy »

Volume/Issue: 2016/9

Series: Staff Discussion Notes

Author(s): Vitor Gaspar , Maurice Obstfeld , Ratna Sahay , Douglas Laxton , Dennis Botman , Kevin Clinton , Romain Duval , Kotaro Ishi , Zoltan Jakab , Laura Jaramillo , Constant Lonkeng Ngouana , Tommaso Mancini Griffoli , Joannes Mongardini , Susanna Mursula , Erlend Nier , Yulia Ustyugova , Hou Wang , and Oliver Wuensch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2016

DOI: http://dx.doi.org/10.5089/9781475537543.006

ISBN: 9781475537543

Keywords: Banks, Canada, Developed countries, Economic policy, Fiscal policy, Financial sector, Fiscal reforms, Incomes policy, Japan, Monetary policy

The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or deal with the n...

Macroeconomic Management When Policy Space is Constrained

Macroeconomic Management When Policy Space is Constrained »

Source: Macroeconomic Management When Policy Space is Constrained : A Comprehensive, Consistent and Coordinated Approach to Economic Policy

Volume/Issue: 2016/9

Series: Staff Discussion Notes

Author(s): Vitor Gaspar , Maurice Obstfeld , Ratna Sahay , Douglas Laxton , Dennis Botman , Kevin Clinton , Romain Duval , Kotaro Ishi , Zoltan Jakab , Laura Jaramillo , Constant Lonkeng Ngouana , Tommaso Mancini Griffoli , Joannes Mongardini , Susanna Mursula , Erlend Nier , Yulia Ustyugova , Hou Wang , and Oliver Wuensch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2016

ISBN: 9781475537543

Keywords: Banks, Canada, Developed countries, Economic policy, Fiscal policy, Financial sector, Fiscal reforms, Incomes policy, Japan, Monetary policy

The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or deal with the n...

The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa

The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa »

Source: The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa

Volume/Issue: 2016/8

Series: Staff Discussion Notes

Author(s): Bjoern Rother , Gaelle Pierre , Davide Lombardo , Risto Herrala , Priscilla Toffano , Erik Roos , Allan Auclair , and Karina Manasseh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2016

ISBN: 9781475535785

Keywords: Migrations, Middle East, North Africa, Regional shocks, Spillovers, Development financing, Economic policy, Development assistance, Middle East and North Africa, conflicts

In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces un...

The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa

The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa »

Volume/Issue: 2016/8

Series: Staff Discussion Notes

Author(s): Bjoern Rother , Gaelle Pierre , Davide Lombardo , Risto Herrala , Priscilla Toffano , Erik Roos , Allan Auclair , and Karina Manasseh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2016

DOI: http://dx.doi.org/10.5089/9781475535785.006

ISBN: 9781475535785

Keywords: Migrations, Middle East, North Africa, Regional shocks, Spillovers, Development financing, Economic policy, Development assistance, Middle East and North Africa, conflicts

In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces un...

Emigration and Its Economic Impact on Eastern Europe

Emigration and Its Economic Impact on Eastern Europe »

Source: Emigration and Its Economic Impact on Eastern Europe

Volume/Issue: 2016/7

Series: Staff Discussion Notes

Author(s): Ruben Atoyan , Lone Engbo Christiansen , Allan Dizioli , Christian Ebeke , Nadeem Ilahi , Anna Ilyina , Gil Mehrez , Haonan Qu , Faezeh Raei , Alaina Rhee , and Daria Zakharova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2016

ISBN: 9781475576368

Keywords: Emigration and immigration, Central and Eastern Europe, Private sector, Global competitiveness, Skilled labor, Remittances, Income, Economic growth, Gross domestic product, Emigration

This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries' growth and income convergence to advanced Europe. While emigration has li...

Emigration and Its Economic Impact on Eastern Europe

Emigration and Its Economic Impact on Eastern Europe »

Volume/Issue: 2016/7

Series: Staff Discussion Notes

Author(s): Ruben Atoyan , Lone Engbo Christiansen , Allan Dizioli , Christian Ebeke , Nadeem Ilahi , Anna Ilyina , Gil Mehrez , Haonan Qu , Faezeh Raei , Alaina Rhee , and Daria Zakharova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2016

DOI: http://dx.doi.org/10.5089/9781475576368.006

ISBN: 9781475576368

Keywords: Emigration and immigration, Central and Eastern Europe, Private sector, Global competitiveness, Skilled labor, Remittances, Income, Economic growth, Gross domestic product, Emigration

This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries' growth and income convergence to advanced Europe. While emigration has li...

The Withdrawal of Correspondent Banking Relationships
			: A Case for Policy Action

The Withdrawal of Correspondent Banking Relationships : A Case for Policy Action »

Volume/Issue: 2016/6

Series: Staff Discussion Notes

Author(s): Michaela Erbenova , Yan Liu , Nadim Kyriakos-Saad , Aledjandro Lopez Mejia , Jose Gasha , Emmanuel Mathias , Mohamed Norat , Francisca Fernando , and Yasmin Almeida

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2016

DOI: http://dx.doi.org/10.5089/9781498375092.006

ISBN: 9781498375092

Keywords: Cross-border banking, Payment systems, International banks, Anti-money laundering, Combating the financing of terrorism, Bank supervision, Bank regulations, Risk management, Fund role, Correspondent Banking

This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and e...

The Withdrawal of Correspondent Banking Relationships

The Withdrawal of Correspondent Banking Relationships »

Source: The Withdrawal of Correspondent Banking Relationships : A Case for Policy Action

Volume/Issue: 2016/6

Series: Staff Discussion Notes

Author(s): Michaela Erbenova , Yan Liu , Nadim Kyriakos-Saad , Aledjandro Lopez Mejia , Jose Gasha , Emmanuel Mathias , Mohamed Norat , Francisca Fernando , and Yasmin Almeida

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2016

ISBN: 9781498375092

Keywords: Cross-border banking, Payment systems, International banks, Anti-money laundering, Combating the financing of terrorism, Bank supervision, Bank regulations, Risk management, Fund role, Correspondent Banking

This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and e...

Corruption

Corruption »

Source: Corruption : Costs and Mitigating Strategies

Volume/Issue: 2016/5

Series: Staff Discussion Notes

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Legal Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781513594330

Keywords: Corruption, Governance, Tax revenues, Inclusive growth, Government expenditures, Public investments, Private investments, Human capital, Fund role, Corruption

In an environment in which growth and employment prospects in many countries remain subdued and a number of high-profile corruption cases have fueled moral outrage, and amid a growing consensus that corruption can...

Corruption
			: Costs and Mitigating Strategies

Corruption : Costs and Mitigating Strategies »

Volume/Issue: 2016/5

Series: Staff Discussion Notes

Author(s): International Monetary Fund. Fiscal Affairs Dept.;International Monetary Fund. Legal Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

DOI: http://dx.doi.org/10.5089/9781513594330.006

ISBN: 9781513594330

Keywords: Corruption, Governance, Tax revenues, Inclusive growth, Government expenditures, Public investments, Private investments, Human capital, Fund role, Corruption

In an environment in which growth and employment prospects in many countries remain subdued and a number of high-profile corruption cases have fueled moral outrage, and amid a growing consensus that corruption can...

Benefits and Costs of Bank Capital

Benefits and Costs of Bank Capital »

Volume/Issue: 2016/4

Series: Staff Discussion Notes

Author(s): Jihad Dagher , Giovanni Dell'Ariccia , Luc Laeven , Lev Ratnovski , and Hui Tong

Publisher: Bank of Communications/New Finance

Publication Date: 03 March 2016

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781484310410.006

ISBN: 9781484310410

Keywords: Bank capital, Cost of capital, United States, Banking crisis, Capital requirements, Risk management, General equilibrium models, Bank Capital, TLAC, Financial Regulation

The appropriate level of bank capital and, more generally, a bank's capacity to absorb losses, has been at the core of the post-crisis policy debate. This paper contributes to the debate by focusing on how much cap...

Benefits and Costs of Bank Capital

Benefits and Costs of Bank Capital »

Source: Benefits and Costs of Bank Capital

Volume/Issue: 2016/4

Series: Staff Discussion Notes

Author(s): Jihad Dagher , Giovanni Dell'Ariccia , Luc Laeven , Lev Ratnovski , and Hui Tong

Publisher: Bank of Communications/New Finance

Publication Date: 03 March 2016

Language: Chinese

ISBN: 9781484310410

Keywords: Bank capital, Cost of capital, United States, Banking crisis, Capital requirements, Risk management, General equilibrium models, Bank Capital, TLAC, Financial Regulation

The appropriate level of bank capital and, more generally, a bank's capacity to absorb losses, has been at the core of the post-crisis policy debate. This paper contributes to the debate by focusing on how much cap...

Benefits and Costs of Bank Capital

Benefits and Costs of Bank Capital »

Source: Benefits and Costs of Bank Capital

Volume/Issue: 2016/4

Series: Staff Discussion Notes

Author(s): Jihad Dagher , Giovanni Dell'Ariccia , Luc Laeven , Lev Ratnovski , and Hui Tong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 March 2016

ISBN: 9781498387712

Keywords: Bank capital, Cost of capital, United States, Banking crisis, Capital requirements, Risk management, General equilibrium models, Bank Capital, TLAC, Financial Regulation

The appropriate level of bank capital and, more generally, a bank's capacity to absorb losses, has been at the core of the post-crisis policy debate. This paper contributes to the debate by focusing on how much cap...

Benefits and Costs of Bank Capital

Benefits and Costs of Bank Capital »

Volume/Issue: 2016/4

Series: Staff Discussion Notes

Author(s): Jihad Dagher , Giovanni Dell'Ariccia , Luc Laeven , Lev Ratnovski , and Hui Tong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 March 2016

DOI: http://dx.doi.org/10.5089/9781498387712.006

ISBN: 9781498387712

Keywords: Bank capital, Cost of capital, United States, Banking crisis, Capital requirements, Risk management, General equilibrium models, Bank Capital, TLAC, Financial Regulation

The appropriate level of bank capital and, more generally, a bank's capacity to absorb losses, has been at the core of the post-crisis policy debate. This paper contributes to the debate by focusing on how much cap...

Virtual Currencies and Beyond
			: Initial Considerations

Virtual Currencies and Beyond : Initial Considerations »

Volume/Issue: 2016/3

Series: Staff Discussion Notes

Author(s): Dong He , Karl Habermeier , Ross Leckow , Vikram Haksar , Yasmin Almeida , Mikari Kashima , Nadim Kyriakos-Saad , Hiroko Oura , Tahsin Saadi Sedik , Natalia Stetsenko , and Concha Verdugo Yepes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 January 2016

DOI: http://dx.doi.org/10.5089/9781498363273.006

ISBN: 9781498363273

Keywords: Currencies, Money, Payment systems, Technological innovation, Monetary policy, Financial stability, Anti-money laundering, Combating the financing of terrorism, International cooperation, Virtual currencies

New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but a...

Virtual Currencies and Beyond

Virtual Currencies and Beyond »

Source: Virtual Currencies and Beyond : Initial Considerations

Volume/Issue: 2016/3

Series: Staff Discussion Notes

Author(s): Dong He , Karl Habermeier , Ross Leckow , Vikram Haksar , Yasmin Almeida , Mikari Kashima , Nadim Kyriakos-Saad , Hiroko Oura , Tahsin Saadi Sedik , Natalia Stetsenko , and Concha Verdugo Yepes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 January 2016

ISBN: 9781498363273

Keywords: Currencies, Money, Payment systems, Technological innovation, Monetary policy, Financial stability, Anti-money laundering, Combating the financing of terrorism, International cooperation, Virtual currencies

New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but a...

The Refugee Surge in Europe
			: Economic Challenges

The Refugee Surge in Europe : Economic Challenges »

Volume/Issue: 2016/2

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Bergljot Barkbu , Nicoletta Batini , Helge Berger , Enrica Detragiache , Allan Dizioli , Christian Ebeke , Huidan Lin , Linda Kaltani , Sebastian Sosa , Antonio Spilimbergo , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2016

DOI: http://dx.doi.org/10.5089/9781513552590.006

ISBN: 9781513552590

Keywords: Migrations, Euro Area, Migrant labor, Labor supply, Labor markets, Emigration and immigration, Demographic transition, Population growth, Migration, Refugees

Against the background of political turmoil in the Middle-East, Europe faces an unprecedented surge in asylum applications. In analyzing the economic impact of this inflow, this paper draws from the experience of...

The Refugee Surge in Europe

The Refugee Surge in Europe »

Source: The Refugee Surge in Europe : Economic Challenges

Volume/Issue: 2016/2

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Bergljot Barkbu , Nicoletta Batini , Helge Berger , Enrica Detragiache , Allan Dizioli , Christian Ebeke , Huidan Lin , Linda Kaltani , Sebastian Sosa , Antonio Spilimbergo , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2016

ISBN: 9781513552590

Keywords: Migrations, Euro Area, Migrant labor, Labor supply, Labor markets, Emigration and immigration, Demographic transition, Population growth, Migration, Refugees

Against the background of political turmoil in the Middle-East, Europe faces an unprecedented surge in asylum applications. In analyzing the economic impact of this inflow, this paper draws from the experience of...

After Paris: Fiscal, Macroeconomic and Financial Implications of Global Climate Change

After Paris: Fiscal, Macroeconomic and Financial Implications of Global Climate Change »

Source: After Paris : Fiscal, Macroeconomic and Financial Implications of Global Climate Change

Volume/Issue: 2016/1

Series: Staff Discussion Notes

Author(s): Mai Farid , Michael Keen , Michael Papaioannou , Ian Parry , Catherine Pattillo , and Anna Ter-Martirosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2016

ISBN: 9781513506562

Keywords: Financial markets, Fiscal policy, Climate mitigation, climate finance, adaptation, climate, carbon, emissions, climate change, co

This paper discusses the implications of climate change for fiscal, financial, and macroeconomic policies. Most pressing is the use of carbon taxes (or equivalent trading systems) to implement the emissions mitigat...

After Paris
			: Fiscal, Macroeconomic and Financial Implications of Global Climate Change

After Paris : Fiscal, Macroeconomic and Financial Implications of Global Climate Change »

Volume/Issue: 2016/1

Series: Staff Discussion Notes

Author(s): Mai Farid , Michael Keen , Michael Papaioannou , Ian Parry , Catherine Pattillo , and Anna Ter-Martirosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2016

DOI: http://dx.doi.org/10.5089/9781513506562.006

ISBN: 9781513506562

Keywords: Financial markets, Fiscal policy, Climate mitigation, climate finance, adaptation, climate, carbon, emissions, climate change, co

This paper discusses the implications of climate change for fiscal, financial, and macroeconomic policies. Most pressing is the use of carbon taxes (or equivalent trading systems) to implement the emissions mitigat...

Wage Moderation in Crises
			: Policy Considerations and Applications to the Euro Area

Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area »

Volume/Issue: 2015/22

Series: Staff Discussion Notes

Author(s): Jörg Decressin , Raphael Espinoza , Ioannis Halikias , Michael Kumhof , Daniel Leigh , Prakash Loungani , Paulo Medas , Susanna Mursula , Antonio Spilimbergo , and TengTeng Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

DOI: http://dx.doi.org/10.5089/9781513537009.006

ISBN: 9781513537009

Keywords: Wage bargaining, Euro Area, Wage adjustments, Negative spillovers, Monetary policy, Euro area, Crisis, Current account, Internal devaluation, Unemployment

The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy...

Wage Moderation in Crises

Wage Moderation in Crises »

Source: Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area

Volume/Issue: 2015/22

Series: Staff Discussion Notes

Author(s): Jörg Decressin , Raphael Espinoza , Ioannis Halikias , Michael Kumhof , Daniel Leigh , Prakash Loungani , Paulo Medas , Susanna Mursula , Antonio Spilimbergo , and TengTeng Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

ISBN: 9781513537009

Keywords: Wage bargaining, Euro Area, Wage adjustments, Negative spillovers, Monetary policy, Euro area, Crisis, Current account, Internal devaluation, Unemployment

The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy...

The Fiscal Consequences of Shrinking Populations

The Fiscal Consequences of Shrinking Populations »

Source: The Fiscal Consequences of Shrinking Populations

Volume/Issue: 2015/21

Series: Staff Discussion Notes

Author(s): Benedict Clements , Kamil Dybczak , Vitor Gaspar , Sanjeev Gupta , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 October 2015

ISBN: 9781513544885

Keywords: Demographic transition, Population growth, Aging, Human fertility, Mortality, Migrations, Labor markets, Health care spending, Public debt, Fiscal sustainability

This Staff Discussion Note looks at the stark fiscal challenges posed by the decline and aging of populations between now and 2100. It finds that without reforms, pensions and health spending would rise to 25 perc...

The Fiscal Consequences of Shrinking Populations

The Fiscal Consequences of Shrinking Populations »

Volume/Issue: 2015/21

Series: Staff Discussion Notes

Author(s): Benedict Clements , Kamil Dybczak , Vitor Gaspar , Sanjeev Gupta , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 October 2015

DOI: http://dx.doi.org/10.5089/9781513544885.006

ISBN: 9781513544885

Keywords: Demographic transition, Population growth, Aging, Human fertility, Mortality, Migrations, Labor markets, Health care spending, Public debt, Fiscal sustainability

This Staff Discussion Note looks at the stark fiscal challenges posed by the decline and aging of populations between now and 2100. It finds that without reforms, pensions and health spending would rise to 25 perc...

Catalyst for Change

Catalyst for Change »

Source: Catalyst for Change : Empowering Women and Tackling Income Inequality

Volume/Issue: 2015/20

Series: Staff Discussion Notes

Author(s): Christian Gonzales , Sonali Jain-Chandra , Kalpana Kochhar , Monique Newiak , and Tlek Zeinullayev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 October 2015

ISBN: 9781513533384

Keywords: Income inequality, Women, Income distribution, Gender, Labor force participation, female labor force participation, gender equity, inequality, gender inequality, labor force

This study shows empirically that gender inequality and income inequality are strongly interlinked, even after controlling for standard drivers of income inequality. The study analyzes gender inequality by using an...

Catalyst for Change
			: Empowering Women and Tackling Income Inequality

Catalyst for Change : Empowering Women and Tackling Income Inequality »

Volume/Issue: 2015/20

Series: Staff Discussion Notes

Author(s): Christian Gonzales , Sonali Jain-Chandra , Kalpana Kochhar , Monique Newiak , and Tlek Zeinullayev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 October 2015

DOI: http://dx.doi.org/10.5089/9781513533384.006

ISBN: 9781513533384

Keywords: Income inequality, Women, Income distribution, Gender, Labor force participation, female labor force participation, gender equity, inequality, gender inequality, labor force

This study shows empirically that gender inequality and income inequality are strongly interlinked, even after controlling for standard drivers of income inequality. The study analyzes gender inequality by using an...

A Strategy for Resolving Europe's Problem Loans

A Strategy for Resolving Europe's Problem Loans »

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

DOI: http://dx.doi.org/10.5089/9781513591278.006

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

A Strategy for Resolving Europe’s Problem Loans1

A Strategy for Resolving Europe’s Problem Loans1 »

Source: A Strategy for Resolving Europe's Problem Loans

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

A Strategy for Resolving Europe’s Problem Loans

A Strategy for Resolving Europe’s Problem Loans »

Source: A Strategy for Resolving Europe's Problem Loans

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

From Ambition to Execution

From Ambition to Execution »

Source: From Ambition to Execution : Policies in Support of Sustainable Development Goals

Volume/Issue: 2015/18

Series: Staff Discussion Notes

Author(s): Stefania Fabrizio , Rodrigo Garcia-Verdu , Catherine Pattillo , Adrian Peralta-Alva , Andrea Presbitero , Baoping Shang , Genevieve Verdier , Marie-Therese Camilleri , Kazuaki Washimi , Lisa Kolovich , Monique Newiak , Martin Cihak , Inci Otker , Luis-Felipe Zanna , and Carol Baker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 September 2015

ISBN: 9781513573304

Keywords: Inclusive growth, Income inequality, Gender, Environmental sustainability, Sustainable development, Fiscal policy, Developing countries, sustainable development goals, growth, structural transformation

The formal launch of the Sustainable Development Goals (SDGs) sets the global development agenda through 2030, placing significant emphasis on promoting social and environmental sustainability alongside economic gr...

From Ambition to Execution
			: Policies in Support of Sustainable Development Goals

From Ambition to Execution : Policies in Support of Sustainable Development Goals »

Volume/Issue: 2015/18

Series: Staff Discussion Notes

Author(s): Stefania Fabrizio , Rodrigo Garcia-Verdu , Catherine Pattillo , Adrian Peralta-Alva , Andrea Presbitero , Baoping Shang , Genevieve Verdier , Marie-Therese Camilleri , Kazuaki Washimi , Lisa Kolovich , Monique Newiak , Martin Cihak , Inci Otker , Luis-Felipe Zanna , and Carol Baker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 September 2015

DOI: http://dx.doi.org/10.5089/9781513573304.006

ISBN: 9781513573304

Keywords: Inclusive growth, Income inequality, Gender, Environmental sustainability, Sustainable development, Fiscal policy, Developing countries, sustainable development goals, growth, structural transformation

The formal launch of the Sustainable Development Goals (SDGs) sets the global development agenda through 2030, placing significant emphasis on promoting social and environmental sustainability alongside economic gr...

Financial Inclusion

Financial Inclusion »

Source: Financial Inclusion : Can it Meet Multiple Macroeconomic Goals?

Volume/Issue: 2015/17

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Martin Cihak , Papa N'Diaye , Adolfo Barajas , Srobona Mitra , Annette Kyobe , Yen Mooi , and Reza Yousefi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 2015

ISBN: 9781513585154

Keywords: Financial services, Economic growth, Inclusive growth, Household credit, Business enterprises, Financial sector, Income inequality, Gender, Economic stability, Financial stability

Using several recently available global datasets, this Staff Discussion Note examines macroeconomic effects of financial inclusion. It finds significant benefits to economic growth from financial inclusion, but the...

Financial Inclusion
			: Can it Meet Multiple Macroeconomic Goals?

Financial Inclusion : Can it Meet Multiple Macroeconomic Goals? »

Volume/Issue: 2015/17

Series: Staff Discussion Notes

Author(s): Ratna Sahay , Martin Cihak , Papa N'Diaye , Adolfo Barajas , Srobona Mitra , Annette Kyobe , Yen Mooi , and Reza Yousefi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 2015

DOI: http://dx.doi.org/10.5089/9781513585154.006

ISBN: 9781513585154

Keywords: Financial services, Economic growth, Inclusive growth, Household credit, Business enterprises, Financial sector, Income inequality, Gender, Economic stability, Financial stability

Using several recently available global datasets, this Staff Discussion Note examines macroeconomic effects of financial inclusion. It finds significant benefits to economic growth from financial inclusion, but the...

Fair Taxation in the Middle East and North Africa

Fair Taxation in the Middle East and North Africa »

Source: Fair Taxation in the Middle East and North Africa

Volume/Issue: 2015/16

Series: Staff Discussion Notes

Author(s): Mario Mansour , Pritha Mitra , Carlo Sdralevich , and Andrew Jewell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2015

ISBN: 9781513563565

Keywords: Egypt, Iran, Islamic Republic of, Libyan Arab Jamahiriya, Syrian Arab Republic, Algeria, Income tax, Hydrocarbons, Iraq, Jordan, Lebanon

Fairness - and what governments can do about it - is at the forefront of economic and social debate all over the world. In MENA, this has been at the core of recent political transitions but has not been adequately...

Fair Taxation in the Middle East and North Africa

Fair Taxation in the Middle East and North Africa »

Source: Fair Taxation in the Middle East and North Africa

Volume/Issue: 2015/16

Series: Staff Discussion Notes

Author(s): Mario Mansour , Pritha Mitra , Carlo Sdralevich , and Andrew Jewell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2015

Language: Arabic

ISBN: 9781513552255

Keywords: Resource Revenues, Excise, Value-Added Tax, Equity, tax, taxes, Justice, Inequality, and Other Normative Criteria and Measurement, International Relations and International Political Economy: Other

Fairness - and what governments can do about it - is at the forefront of economic and social debate all over the world. In MENA, this has been at the core of recent political transitions but has not been adequately...

Fair Taxation in the Middle East and North Africa

Fair Taxation in the Middle East and North Africa »

Source: Fiscalité équitable au Moyen-Orient et en Afrique du Nord

Volume/Issue: 2015/16

Series: Staff Discussion Notes

Author(s): Mario Mansour , Pritha Mitra , Carlo Sdralevich , and Andrew Jewell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 September 2015

Language: French

ISBN: 9781513555515

Keywords: Recettes tirées des ressources, accises, taxe sur la valeur ajoutée, Fonds propres, taxe, taxes, Justice, inégalité, et autres critères et mesures normatifs, Relations internationales et économie politique internationale: Autre

La quête d'égalité et d'équité - et ce que peuvent faire les gouvernements pour la satisfaire - est au cœur du débat économique et social dans le monde entier. Dans la région du Moyen-Orient et de l'Afrique du Nord...