Narrow Your Choices

Refine By Countries

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Social Science > Emigration and Immigration

You are looking at 1 - 10 of 14 items for :

  • Type: Journal Issue x
  • Consumption; Economics x
Clear All Modify Search
Cover IMF Working Papers
Coping with Climate Shocks: Food Security in a Spatial Framework
Diogo Baptista
,
John A Spray
, and
Ms. Filiz D Unsal
We develop a quantitative spatial general equilibrium model with heterogeneous house-holds and multiple locations to study households’ vulnerability to food insecurity from cli-mate shocks. In the model, households endogenously respond to negative climate shocks by drawing-down assets, importing food and temporarily migrating to earn additional income to ensure sufficient calories. Because these coping strategies are most effective when trade and migration costs are low, remote households are more vulnerable to climate shocks. Food insecure households are also more vulnerable, as their proximity to a subsistence requirement causes them to hold a smaller capital buffer and more aggressively dissave in response to shocks, at the expense of future consumption. We calibrate the model to 51 districts in Nepal and estimate the impact of historical climate shocks on food consumption and welfare. We estimate that, on an annual basis, floods, landslides, droughts and storms combined generated GDP losses of 2.3 percent, welfare losses of 3.3 percent for the average household and increased the rate of undernourishment by 2.8 percent. Undernourished households experience roughly 50 percent larger welfare losses and those in remote locations suffer welfare losses that are roughly two times larger than in less remote locations (5.9 vs 2.9 percent). In counterfactual simulations, we show the role of better access to migration and trade in building resilience to climate shocks.
Keywords:
Agriculture; Food Security; Trade, Migration; Climate change; Climate shocks; welfare loss; food consumption; migration cost; loss from climate; losses from climate change; Consumption; Migration; Income; Global
Cover IMF Staff Country Reports
New Zealand: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper discusses interactions between external risks and the New Zealand economy. The current set of external risks has the potential to be extremely damaging to New Zealand, but two factors would likely mitigate the economic impact. First, the flexible exchange rate regime is a reliable shock absorber and automatic stabilizer from the perspective of GDP, although it leads to a rebalancing between the domestic and external sectors in the economy. Second, net migration flows can reduce the negative impact of lower external demand under some circumstances, such as a growth slowdown in Australia. Fiscal policy could also offset some of the short-term costs of adjustment. Fiscal policy can provide stimulus at relatively small and manageable cost to the already-low government debt to GDP ratio. Moreover, at the current juncture, fiscal policy might need to provide the bulk of policy support against negative shocks, as monetary policy might be ineffective if has become constrained by an effective lower bound on the monetary policy interest rate.
Keywords:
ISCR; CR; monetary policy; price; welfare advantage; Consumption-equivalent welfare index; wellbeing indicator; income growth; living standard framework; Financial sector stability; Consumption; Macroprudential policy; Income; Migration; Global
Cover IMF Working Papers
Migration and Remittances in Latin America and the Caribbean: Engines of Growth and Macroeconomic Stabilizers?
Ms. Kimberly Beaton
,
Ms. Svetlana Cerovic
,
Misael Galdamez
,
Metodij Hadzi-Vaskov
,
Franz Loyola
,
Zsoka Koczan
,
Mr. Bogdan Lissovolik
,
Mr. Jan Kees Martijn
,
Ms. Yulia Ustyugova
, and
Joyce Wong
Outward migration has been an important phenomenon for countries in Latin American and the Caribbean (LAC), particularly those in Central America and the Caribbean. This paper examines recent trends in outward migration from and remittances to LAC, as well as their costs and benefits. For the home country, the negative impact from emigration on labor resources and productivity seems to outweigh growth gains from remittances, notably for the Caribbean. However, given emigration, remittance flows play key financing and stabilizing roles in Central America and the Caribbean. They facilitate private consumption smoothing, support financial sector stability and fiscal revenues, and help reduce poverty and inequality, without strong evidence for harmful competitiveness effects through shifts in the real exchange rate.
Keywords:
WP; remittance inflow; economic migration; cost of remittance; remittance flow; remittances emigrant; International Migration; Remittances; Latin America; Caribbean; GDP ratio; remittances-recipient country; remittance sender; remittance transaction; remittance corridor; Gini coefficient; Migration; Income; Consumption; South America; Central America; Global
Cover IMF Staff Country Reports
Denmark: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper analyzes household balance sheet structure in Denmark and sensitivity to rising rates. Households in Denmark have gotten considerably wealthier in recent decades. High household assets, in particular in the mandatory pension system and housing, provide stability by funding future consumption and protecting against shocks. The high, but mostly illiquid, assets have a counterpart, however, in the high household debt, as households often need to borrow to consume or buy property. The resulting combination of large assets and liabilities on household balance sheets make the Danish economy sensitive to interest-rate changes. Sudden increases in interest rates can create macroeconomic instability via their impact on the debt service of households and knock-on effects on consumption.
Keywords:
ISCR; CR; migrant; firm; employment probability; integration outcome; demand condition; sales growth; migrants to Denmark; Migration; Consumption; Disposable income; Income; Europe; Global; Northern Europe
Cover IMF Staff Country Reports
Former Yugoslav Republic of Macedonia: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper on Former Yugoslav Republic (FYR) of Macedonia investigates the macroeconomic impact of remittances on long-run external sustainability and growth. The paper presents stylized facts pertaining to the characteristics of remittances in Macedonia, highlighting their countercyclicality and importance in sustaining the purchasing power of domestic agents. The paper reviews to help set up a theoretical framework for assessing their macroeconomic impact, highlighting the possible risk of “Dutch disease” developments. The paper uses a Bayesian vector autoregression (BVAR) model to empirically investigate both hypotheses of countercyclicality and Dutch disease effects and puts forward a few policy options that may be explored to better harness remittances to support investment and long-term growth. The paper suggests that strong political engagement in support of diaspora projects is a key point. The mobilization of diaspora savings for private and public investment would maximize the long-term benefits of remittances.
Keywords:
ISCR; CR; remittance; GDP; Macedonia; financing; exchange rate; exogenous remittance; remittance transfer; central bank; workers' remittance; foreign currency; remittance shock; small business; FYR Macedonia; interest rate; excess demand; bond feature; Remittances; Outward remittances; Real exchange rates; Migration; Bonds; Western Europe
Cover Finance & Development
Finance & Development, September 2012
International Monetary Fund. External Relations Dept.
Technology is generating a global convergence. A "big bang" of information—and education as well—is improving human lives. And with global interconnectivity growing by leaps and bounds, we are all witness to a rapid spread of information and ideas. But, as we have seen from the prolonged global financial crisis, our interconnectedness carries grave risks as well as benefits. This issue of F&D looks at different aspects of interconnectedness, globally and in Asia. • Brookings VP Kemal Devis presents the three fundamental trends in the global economy affecting the balance between east and west in "World Economy: Convergence, Interdependence, and Divergence." • In "Financial Regionalism," Akihiro Kawai and Domenico Lombardi tell us how regional arrangements are helping global financial stability. • In "Migration Meets Slow Growth," Migration Policy Institute president Demetrios Papademetriou examines how the global movement of workers will change as the economic crisis continues in advanced economies. • "Caught in the Web" explains new ways of looking at financial interconnections in a globalized world. • IMF Managing Director Christine Lagarde provides her take on the benefits of integration and the risks of fragmentation in "Straight Talk." Also in this issue, we take a closer look at interconnectedness across Asia as we explore how trade across the region is affected by China's falling trade surplus, how India and China might learn from each others' success, and what Myanmar's reintegration into the global economy means for its people. F&D's People in Economics series profiles Justin Yifu Lin, first developing country World Bank economist, and the Back to Basics series explains the origins and evolution of money.
Keywords:
FD; F&D; economy; China; financial institution; price; IMF study; IMF staff assessment; globalized economy; shrinking world; IMF staff; Migration; Financial sector stability; Fiscal rules; Exports; Global; Europe; Asia and Pacific; Africa; Middle East and Central Asia
Cover Finance & Development
Finance & Development, September 2012
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
Keywords:
FD; F&D; economy; China; financial institution; price; IMF study
Cover Finance & Development
Finansy I razvitie, September 2012
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
Keywords:
FD; F&D; economy; China; financial institution; price; IMF study
Cover Finance & Development
Finanzas & Desarrollo, septiembre de 2012
International Monetary Fund. External Relations Dept.
Suscríbase a Finanzas & Desarrollo para mantenerse al día de las últimas corrientes del pensamiento económico en lo que respecta al sistema financiero internacional, la política monetaria, el desarrollo económico, la reducción de la pobreza y otras cuestiones de importancia fundamental. Esta amena revista trimestral ofrece análisis profundos de técnicos del FMI y respetados expertos internacionales sobre estas y otras cuestiones. Los artículos están redactados teniendo en mira al lector no especializado interesado en comprender el funcionamiento de la economía mundial y las políticas y actividades del FMI.
Keywords:
FD; F&D; economy; China; financial institution; price; IMF study
Cover Finance & Development
Finances & Développement, septembre 2012
International Monetary Fund. External Relations Dept.
Pour les dernières idées sur le système financier international, la politique monétaire, le développement économique, la lutte contre la pauvreté et d’autres questions importantes, abonnez-vous à Finances & Développement (F&D). Ce trimestriel attrayant présente des analyses approfondies sur ces thèmes et d'autres sujets, rédigées par les membres des services du FMI ainsi que par des experts de renommée internationale. Les articles sont écrits pour les non-spécialistes qui souhaitent enrichir leur compréhension des rouages de l'économie mondiale et des politiques et activités du FMI.
Keywords:
FD; F&D; economy; China; financial institution; price; IMF study