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Social Science > Demography

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

  • Type: Journal Issue x
  • Commodity Markets x
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Cover IMF Working Papers
Who Creates New Firms When Local Opportunities Arise?
Shai Bernstein
,
Emanuele Colonnelli
,
Mr. Davide Malacrino
, and
Tim McQuade
New firm formation is a critical driver of job creation, and an important contributor to the responsiveness of the economy to aggregate shocks. In this paper we examine the characteristics of the individuals who become entrepreneurs when local opportunities arise due to an increase in local demand. We identify local demand shocks by linking fluctuations in global commodity prices to municipality level agricultural endowments in Brazil. We find that the firm creation response is almost entirely driven by young and skilled individuals, as measured by their level of experience, education, and past occupations involving creativity, problem-solving and managerial roles. In contrast, we find no such response within the same municipalities among skilled, yet older individuals, highlighting the importance of lifecycle considerations. These responsive individuals are younger and more skilled than the average entrepreneur in the population. The entrepreneurial response of young individuals is larger in municipalities with better access to finance, and in municipalities with more skilled human capital. These results highlight how the characteristics of the local population can have a significant impact on the entrepreneurial responsiveness of the economy.
Keywords:
Entrepreneurship; Firms; Financial Development; Commodities; creation response; experience distribution; heterogeneous firm; firm entry response; firm creation rate; marginal revenue; created firm; time series; fertility rate; Self-employment; Labor force; Employment; Global
Cover IMF Staff Country Reports
New Zealand: Selected Issues Paper
International Monetary Fund
The Savings Working Group in New Zealand presented recommendations in February 2011, and suggested raising national saving by 2–3 percent of GDP. The increase in net public saving in the country explains part of the reason for lower net private saving in New Zealand. Net public saving of the country is about 3 percent of GDP above the average of advanced countries for the past 15 years. Financial liberalization also appears to have played a role in saving behavior.
Keywords:
ISCR; CR; Australia; saving; GDP; national saving; saving rate; commodity price; public saving; business cycle; Private savings; Spillovers; Terms of trade; Vector autoregression; Commodity prices; Australia and New Zealand; Asia and Pacific
Cover Regional Economic Outlook, November 2008, Asia and Pacific
Regional Economic Outlook, November 2008, Asia and Pacific
International Monetary Fund. Asia and Pacific Dept

Abstract

The November 2008 Asia and Pacific REO focuses on the difficult economic environment facing policymakers in the region. Chapter 1 provides an overview of the outlook for the region. With growth slowing, and the global financial crisis increasingly affecting the region, macroeconomic and financial policies will need to be proactive. Chapter 2 looks more closely at inflation in Asia, finding that it is increasingly imported and volatile, which raises important questions about monetary policy frameworks in the future. Chapter 3 takes a longer-term look at how the expected rapid aging of the region may affect capital flows and financial markets in the years to come.

Keywords:
REO; price; Asia; headline inflation; commodity; core inflation; inflation volatility trade-off; U.S. dollar; asset return data; commodity-importing country; output stabilization trade-off; cross-currency swap market; Inflation; Aging; Commodity prices; Pension spending; Asia and Pacific; Global; Middle East