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Europe > Norway

You are looking at 1 - 6 of 6 items for :

  • Type: Journal Issue x
  • Demographic Economics: General x
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Cover IMF Working Papers
Dissecting the Decline in Average Hours Worked in Europe
Diva Astinova
,
Romain A Duval
,
Niels-Jakob H Hansen
,
Ben Park
,
Ippei Shibata
, and
Frederik G Toscani
Three years after the COVID-19 crisis, employment and total hours worked in Europe fully recovered, but average hours per worker did not. We analyze the decline in average hours worked across European countries and find that (i) it is not cyclical but predominantly structural, extending a long-term trend that predates COVID-19, (ii) it mainly reflects reduced hours within worker groups, not a compositional shift towards lower-hours jobs and workers, (iii) men—particularly those with young children—and youth drive this drop, (iv) declines in actual hours match declines in desired hours. Policy reforms could help involuntary parttimers and women with young children raise their actual hours towards desired levels, but the aggregate impact on average hours would be limited to 0.5 to 1.5 percent. Overall, there is scant evidence of slack at the intensive margin in European labor markets, and the trend fall in average hours worked seems unlikely to reverse.
Keywords:
hours worked; working hours; labor market; Europe; policy reform; worker level; scant evidence; summary statistics; full time worker; Labor markets; Women; Labor supply; Labor force participation
Cover IMF Working Papers
What are the Economic Effects of Pandemic Containment Policies? Evidence from Sweden
Mrs. Jana Bricco
,
Florian Misch
, and
Alexandra Solovyeva
This paper examines the economic effects of policies to contain Covid-19, by extracting lessons from Sweden’s experience during the ‘Great Lockdown’. Sweden’s approach was less stringent and based more on social responsibility than legal obligations compared to European peers. First, we provide an account of Sweden’s strategy and the health outcomes. Second, drawing on a range of data sources and empirical findings, our analysis of the first Covid-19 wave indicates that a less stringent strategy can soften the economic impact initially. These benefits could be eroded subsequently, due to potentially higher infection rates and a prolonged pandemic, but in Sweden’s case, the evidence remains mixed in this regard, and it is premature to judge the outcome of Sweden’s containment strategy. In addition, the economic effects of the containment strategy also depend on social behavior, demographics and structural features of the economy, such as the degree of export orientation, reliance on global supply chains, and malleability to remote working.
Keywords:
WP; Sweden; containment; containment measure; IMF staff calculation; containment strategy
Cover IMF Working Papers
The Nordic Labor Market and Migration
Giang Ho
and
Ms. Kazuko Shirono
The large influx of migrants to Nordic countries in recent years is challenging the adoptability of Nordic labor market institutions while also adding to potential growth. This paper examines the trends, economic drivers, and labor market implications of migration to Nordic countries with a particular focus on economic migration as distinct from the recent large flows of asylum seekers. Our analysis finds that migration inflows to the Nordics are influenced by both cyclical and structural factors. Although migration helpfully dampens overheating pressures during periods of strong demand, and over the longer term will cushion the decline in labor supply from population aging, in the near-term unemployment can rise, especially among the young and lower-skilled. The analysis highlights the need to adapt Nordic labor market institutions in a manner that better facilitates the integration of migrants into employment. In particular, greater wage flexibility at the firm level and continued strong active labor market measures will help improve labor market outcomes among immigrants.
Keywords:
WP; migration flow; EU migration; migration inflow; net migration rate; Nordic countries; migration; labor market; unemployment; Nordic model; Denmark; Finland; Norway; Sweden; labor market outcome; labor market duality; migration rate; EU labor market; wage differential; labor market development; labor market experience; host country labor market; migration literature; Labor markets; Unemployment rate; Global; Europe
Cover Staff Discussion Notes
Distribución directa de los ingresos provenientes de recursos naturales: ¿Vale la pena considerarla?
Mr. Sanjeev Gupta
,
Mr. Alex Segura-Ubiergo
, and
Enrique Flores
Algunos académicos han sostenido que la distribución directa a la población de ingresos públicos provenientes de recursos naturales ayudaría a los países ricos en recursos naturales a escapar de la “maldición de los recursos naturales”. Este documento analiza si esta propuesta constituye una alternativa política viable para países ricos en recursos naturales. La primera prioridad para los responsables de la formulación de políticas en los países ricos en materias primas consiste en establecer los objetivos de política fiscal para promover la estabilidad macroeconómica y el desarrollo de las economías. En este sentido, el establecimiento de un marco fiscal adecuado que aporte información para tomar decisiones sobre cuánto ahorrar y cuánto invertir, cómo atenuar la volatilidad de los ingresos públicos, y cómo abordar los problemas relacionados con el agotamiento de los recursos naturales debe preceder cualquier análisis sobre distribución directa de recursos a la población.
Keywords:
SDN; resource revenue; natural resource; governments Bloated; country authorities; resource curse; resource wealth
Cover Staff Discussion Notes
Direct Distribution of Resource Revenues: Worth Considering?
Mr. Sanjeev Gupta
,
Mr. Alex Segura-Ubiergo
, and
Enrique Flores
Some scholars have argued that direct distribution of natural resource revenues to the population would help resource-rich countries escape the “resource curse.” This discussion note analyzes whether this proposal is a viable policy alternative for resource-rich countries. The first priority for policymakers is to establish fiscal policy objectives to support macroeconomic stability and development objectives. In this regard, the establishment of an adequate fiscal framework that informs decisions on how much to save and invest, or how to smooth out revenue volatility, and deal with exhaustibility issues should precede any discussion of direct distribution of resource wealth to the population.
Keywords:
SDN; resource revenue; natural resource; governments Bloated; country authorities; resource curse; resource wealth; natural resources; resource wealth management; direct redistribution; fiscal policy; cash transfers; resource exhaustibility; revenues DDMs; Income; Currencies; Middle East; North Africa; East Africa
Cover Who Will Pay? Coping with Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges
Who Will Pay? Coping with Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges
Mr. Peter S. Heller

Abstract

Aging populations. Weather shocks. Scarce water. Globalization. Security threats. Policymakers today confront a number of developments that threaten to burden public budgets for decades to come, or bankrupt some entirely. This book argues that governments need to make policy changes now to take account of the potential fiscal consequences of these developments. After describing how, if at all, analysts, national governments, and international organizations currently address these long-term issues, the book stresses the vital need for a multipronged approach, involving strengthened analyses, greater attention to long-term issues and risk factors in budgeting, and institutional reforms that address the myopic biases of politicians and the public.

Keywords:
BOOK; government; policy; country; policy commitment; government policy; policy reform; policy action; policy uncertainty; fiscal policy framework; Aging; Global; Western Europe; South Asia; Sub-Saharan Africa; Budget planning and preparation; Caribbean