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Social Science > Emigration and Immigration

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Cover IMF Staff Country Reports
Republic of Kosovo: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper highlights recent trends in the Kosovo labor market and emigration. Like other Western Balkan countries, Kosovo experienced a sharp decline in population over the previous decade, as emigration increased. Using a structural model of the labor market and migration, the paper examines the potential impact of further EU integration. While lower migration costs hurt the economy, productivity convergence brought on by EU integration has an offsetting impact by increasing wages, lowering unemployment, and increase immigration. Policy simulations show that policymakers have a diverse set of tools—including structural reforms, active labor market policies, business support, and labor participation support—to boost potential and support the labor market. A key result from the policy simulations is that, while the policies target various stages of the labor market, they have similar macroeconomic impacts. In this regard, it is important for policymakers to focus on policies with the largest potential impact relative to the cost of implementation. Additionally, policies should be combined with careful monitoring and updating to ensure that they remain effective and efficient.
Keywords:
gender wage gap; ECB monetary policy PASSTHROUGH; EU integration; women wage; ECB policy rate Passthrough; wage gender gap; Pensions; Pension spending; Labor markets; Digitalization; Public employment; Europe; Global; Western Europe
Cover IMF Working Papers
Quantum Computing and the Financial System: Spooky Action at a Distance?
Mr. Michael Gorbanyov
,
Majid Malaika
, and
Tahsin Saadi Sedik
The era of quantum computing is about to begin, with profound implications for the global economy and the financial system. Rapid development of quantum computing brings both benefits and risks. Quantum computers can revolutionize industries and fields that require significant computing power, including modeling financial markets, designing new effective medicines and vaccines, and empowering artificial intelligence, as well as creating a new and secure way of communication (quantum Internet). But they would also crack many of the current encryption algorithms and threaten financial stability by compromising the security of mobile banking, e-commerce, fintech, digital currencies, and Internet information exchange. While the work on quantum-safe encryption is still in progress, financial institutions should take steps now to prepare for the cryptographic transition, by assessing future and retroactive risks from quantum computers, taking an inventory of their cryptographic algorithms (especially public keys), and building cryptographic agility to improve the overall cybersecurity resilience.
Keywords:
quantum computing; quantum-safe encryption; cybersecurity; fintech.; fintech; functioning quantum computer; computing technology; quantum machine; encryption standard; hardware capability; cloud service; Computer science; Migration; Financial sector; Global
Cover IMF Staff Country Reports
Nepal: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper on Nepal measures the extent to which Nepal’s households change their expenditure patterns and labor supply in response to remittances, using the Nepal Household Risk and Vulnerability Survey—2016 and employing a propensity score matching method. This study provides stylized facts on migrant workers and remittance-recipient households (HH), and then analyzes the effect of remittances on HHs' expenditure patterns and labor supply. Reliance on remittances, both at the macro and household levels, makes Nepal highly vulnerable to shifts that could diminish remittance inflows. The slowdown in growth of remittances has been significant since 2016, owing to weak economic performance in major remittance-sending economies and less outward migration. This study also analyzes the effect of remittances on labor market participation of left behind household heads, using a propensity score matching method. The results show that remittances have supported greater consumption of productive goods (such as durable goods, education and health), without discouraging labor supply of remittance-receiving family members.
Keywords:
ISCR; CR; remittance; Fintech payment method; expenditure pattern; remittance recipient; remittance-recipient household; fintech payment; invoice payment; Remittances; Infrastructure; Income; Fintech; Labor supply; Southeast Asia; East Asia; South Asia; Global; Migration; Asia and Pacific
Cover IMF Working Papers
Convergence of Per Capita Output Levels Across Regions of Bangladesh, 1982-97
Mr. Akhtar Akhtar Hossain
This paper has examined the phenomenon of convergence of per capita output levels across regions of Bangladesh during 1982–97. The main finding is that most of the regions of Bangladesh experienced strong convergence of per capita output levels during 1982–91. There are two other findings within the domain of convergence. First, a few poorer regions of the country did not demonstrate any output convergence for the full or part of the sample period. Second, no evidence has been found for regional convergence of per capita output levels during 1991–97 that coincided with opening up the economy.
Keywords:
WP; output level; regression equation; Bangladesh economy; country map; Gulf country; beta convergence; per capita income; standard deviation; lagging country; Personal income; Production growth; Population growth; Migration; East Asia; Africa; Asia and Pacific; Global