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William N. Goetzmann

. Thousands are skipping the hassle of standing on a corner in the rain to hail a cab and are simply summoning an Uber or Lyft to whisk them to the airport. Others are selling their knitting on Etsy, letting strangers stay in their home through Airbnb, or having their weeds pulled by a gardener hired via TaskRabbit. Countless “workers” are flocking to Amazon’s Mechanical Turk to complete “Human Intelligence Tasks” for just pennies. Sharing economy expert and New York University Stern School of Business professor Arun Sundara-rajan tackles the myriad issues these

Edward J. Frydl

, overall country risk ratings, the volume of banking system deposits, etc. Reliance on subjective expert views to date crises is appropriate. Simple multiple objective indicators, whether based on bank balance sheet data or financial market prices, are likely to be misleading. The concept of a crisis is meaningful principally in terms of its effects on the expectations of participants in financial markets and the economy. Expert opinion can directly reflect these expectations. The risk of error arises from expert opinion not being representative of the broader range of

M. Cheney David

editions of the IMF Annual Report 1997 are available free of charge from Publication Services. Box XS700, IMF, Washington, DC 20431 U.S.A. Telephone: (202) 623-7430; fax: (202) 623-7201; Internet: publications@imf.org . Dubrovnik Conferees Discuss External Sector Issues in Transition Economies Experts from governments of transition economics, academia, and from the IMF, the World Bank, the Bank for International Settlements, and the European Batik for Reconstruction and Development gathered in Dubrovnik in late time for the third Dubrovnik Conference on

Mr. Edward J Frydl
This paper reviews how recent studies of banking crises differ with regard to the dating, length, and costs of the crises. Significant discrepancies in these features suggest the absence of analytical consensus. The data allow an examination of the relation between perceived crisis length, as an index of delay in taking actions to resolve a crisis, and crisis costs. Cross-sectional evidence does not show that the length of a crisis is a significant contributor to its resolution cost. A measure of economic cost, the growth shortfall in the crisis period, shows more evidence of a link.
International Monetary Fund. European Dept.
This Selected Issues paper analyzes income convergence and medium-term growth potential for Estonia. Estonia’s potential growth is projected to average some 3 percent over the next five years and 2.75 percent over the next two decades, implying continued income convergence with European Union levels, albeit at only half its historical pace. A number of policy enhancements could lift growth above this central projection. These include a greater operational policy focus on raising productivity growth, scaling up a number of envisaged pro-growth programs, supporting the upgrading of traditional industries as a second leg of innovation policy, and fully restoring Estonia’s high investment.
International Monetary Fund

. An expert group meeting took place in 1990 to comment and make recommendations on the revised and rebased national accounts estimates that were being compiled with a new base year (1985). For the ongoing project on the implementation of a new series of national accounts based on the 1993 SNA , the first Users’ Forum on National Accounts was conducted with representatives of different sectors of the Philippine economy (experts, users from the private sector, academia, media, etc.). This forum has been followed up with a series of workshops conducted twice a year as

International Monetary Fund. External Relations Dept.
This article profiles iconoclastic economist Dani Rodrik, the Harvard professor whose warnings about the downsides of globalization proved prescient. Rodrik has spent most of his professional life at Ivy League institutions. He has a bachelor’s degree from Harvard and master’s and PhD degrees from Princeton, followed by a teaching career at Harvard and Columbia. Rodrik’s warnings that the benefits of free trade were more apparent to economists than to others were prescient. His skepticism about the benefits of unfettered flows of capital across national boundaries is now conventional wisdom. His successful attack on the so-called Washington Consensus of policies to generate economic growth has made governments and international organizations like the IMF and the World Bank admit that there are many policy recipes that can generate growth. Rodrik’s caution about financial globalization is now widely shared, including at the IMF.
International Monetary Fund
This data module of the Report on the Observance of Standards and Codes (ROSC) provides a summary assessment of dissemination practices in the Philippines relative to the Special Data Dissemination Standard (SDDS). It presents a summary assessment of data quality for national accounts, consumer price, producer price, balance of payments, government finance, and monetary statistics, based on the Data Quality Assessment Framework (DQAF). The assessment reveals that the statistical system of the Philippines is sustained by generally strong legal and institutional frameworks and solid methodological foundations.