Business and Economics > Production and Operations Management
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The Bahamas is highly vulnerable to the effects of climate change, including gradual sea level rise, biodiversity loss, and intensifying hurricanes. Together, these challenges threaten to undermine the country’s potential output over the long term by inflicting damages to physical assets and eroding natural capital, which is vital to its tourism-driven economy. Importantly, these risks are unevenly distributed with smaller islands being more exposed and sensitive than the larger, more developed ones. Addressing these disparities as well as closing economy-wide adaptation needs through investments in structural resilience can unlock large potential output gains.
The Brazilian labor market went through significant changes in 2017 with reforms to reduce litigation and increase flexibility in employment contracts. Using firm-level data, we exploit the variation in litigation cases across Brazilian states to estimate the impact of the 2017 labor reforms on productivity. The results suggest a significant boost in total factor productivity (TFP) for labor- and trade-intensive firms from the decline in litigation costs. High labor intensive firms witnessed an increase in TFP of about 15 percent after the reform compared to low labor-intensive firms. Similar magnitudes are found for trade-internsive firms. There is also some suggestive evidence that the productivity-enhancing effects of the reforms are especially pronounced for small firms.
The Swedish authorities would like to thank the mission team for the report and for the open and constructive policy discussions during the Article IV consultation with Sweden. The authorities broadly agree with the conclusions and recommendations of the staff report. This Buff statement refers to the March forecasts of the Swedish Ministry of Finance and the Riksbank, which were both published after the cut-off date for the report.