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Social Science > Poverty and Homelessness

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Cover IMF Working Papers
Rising Child Poverty in Europe: Mitigating the Scarring from the COVID-19 Pandemic
Mr. Jean-Jacques Hallaert
,
Iglika Vassileva
, and
Tingyun Chen
Child poverty increased dramatically during the COVID-19 pandemic. In 2020 alone, the number of children suffering from poverty in the EU increased by 19 percent, or close to 1 million. Left unaddressed, this would not only affect individuals’ life prospects and well-being but also have long-term economic implications. This paper argues that, to limit this potential scarring effect of the pandemic, policies should be deployed to reduce rapidly the number of children affected by poverty and mitigate the long-term impact of poverty. Reducing the number of children affected by poverty can be achieved by (i) labor policies and reforms that increase parental work and the labor income of poor parents and (ii) fiscal spending on family and children that can have a powerful and immediate impact. These policies need to be complemented by public investment in education and childcare, health, and housing to mitigate the long-term impact of child poverty.
Keywords:
child poverty; EU assistance; scarring effect; C. measuring poverty; summary plot; labor income; COVID-19; Income; Poverty reduction; Social protection spending; Europe
Cover IMF Working Papers
A European Minimum Wage: Implications for Poverty and Macroeconomic Imbalances
Ms. Enrica Detragiache
,
Mr. Christian H Ebeke
,
La-Bhus Fah Jirasavetakul
,
Koralai Kirabaeva
,
Mr. Davide Malacrino
,
Florian Misch
,
Mr. Hyun Park
, and
Ms. Yu Shi
A hypothetical European Minimum Wage (MW) set at 60 percent of each country’s median wage would reduce in-work poverty but have limited effects on overall poverty, as many poor households do not earn a wage near MW and higher unemployment, higher prices, and a loss of social insurance benefits may erode direct benefits. Turning to competitiveness, since the MW increase to reach the European standard would be larger in euro area countries with excessive external surpluses, the associated real appreciation should help curb existing imbalances. However, a few countries with already weak external positions would experience an undesirable real appreciation.
Keywords:
WP; wage-inflation pass-through; wage growth; MW harmonization; wage competitiveness; wage differentiation; pressure mechanism; wage distribution; workers range; influence wage dynamics; IMF staff calculation; current account; wage inequality; Wages; Minimum wages; Labor costs; Wage adjustments; Europe; Global; Central and Eastern Europe; Baltics; Minimum Wage; European Union; Poverty Alleviation; Current Account Rebalancing; Monetary Unions
Cover IMF Staff Country Reports
Georgia: Poverty Reduction Strategy Paper Progress Report
International Monetary Fund
This report is based on the progress of the Economic Development and Poverty Reduction Program (EDPRP) in Georgia. It highlights the status of measures intended for rapid and sustainable economic development in the country through further fine-tuning of administrative mechanisms, increase of transparency, improvement of the business climate, and liberalization of the economy. It explains the ongoing and planed reforms in the sectoral spectrum and rehabilitation of post-conflict zones. Economic processes have developed positively resulting in acceleration of the economic growth rate in the country.
Keywords:
ISCR; CR; poverty level; motor transport; State budget allocation; air transportation; awarded state voucher; executive authorities; government of Georgia; international airport; management system; State sector priority; State budget; State curriculum; State program; deregulation reform; communication company; Global