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Business and Economics > Public Finance

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Geographic Labor Mobility; Immigrant Workers x
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Cover IMF Working Papers
Russia's Regions: Income Volatility, Labor Mobility and Fiscal Policy
Goohoon Kwon
and
Mr. Antonio Spilimbergo
Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks fiscal instruments to deal with regional shocks. We assess how these features influence the magnitude and persistence of regional income shocks, through a panel vector autoregression, drawing on extensive and unique regional data covering last decade. We find that labor mobility associated with regional shocks is far lower than in the United States yet higher than in the EU-15, and that regional expenditures tend to expand in booms and contract in recessions. We discuss institutional factors behind these outcomes and policy implications.
Keywords:
WP; income; Russia; revenue; fiscal policy; panel VAR; labor mobility; countercyclical fiscal policy; income volatility; Russia's region; revenue windfall; income growth; Personal income; Income shocks; Oil; Europe
Cover IMF Working Papers
Global Aging and Fiscal Policy with International Labor Mobility: A Political Economy Perspective
Mr. Mehmet S Tosun
This paper uses an overlapping generations model with international labor mobility and a politically responsive fiscal policy to examine aging in developed and developing regions. Migrant workers change the political structure composed of young and elderly voters in both labor-receiving and labor-sending countries. Numerical simulations show that the developed region benefits more from international labor mobility through the contribution of migrant workers as laborers, savers, and voters. The developing region experiences significant growth in all specifications but benefits more under international capital mobility. Restricting political participation of migrant workers in the developed region produces inferior growth results.
Keywords:
WP; fiscal policy
Cover IMF Working Papers
Working Paper Summaries (WP/94/1 - WP/94/76)
International Monetary Fund
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Keywords:
WP; policy; economy; market; stabilization; petroleum product; stabilization policy; competitiveness indicator; stabilization program; export instability; Real exchange rates; Monetary unions; Inflation; Currencies; Commodity prices; Central and Eastern Europe; Maghreb; Europe; Eastern Europe; Sub-Saharan Africa; Africa