The Dizzy Pace of Change: Thomas Friedman Has a Recipe to Thrive


by iMFdirect

New York Times columnist and best-selling author Thomas Friedman says our lives are being transformed in so many realms at once—it’s dizzying.

“We’re in the middle of 3 accelerations; the market, mother nature, and Moore’s law. Moore’s law says the power of microchips will double every 24 months, mother nature is climate change, biodiversity loss and population, and the market is digital globalization.” Continue reading

The Top Ten Blogs of 2016


by iMFdirect

What a year it has been.  12 months with big implications for the global economy.

In 2016 our readers’ curiosity focused on a wide range of hot topics in the world of economic and financial policy: the economic impact of migration, China’s economic transition, the prospects for negative interest rates, the way forward for Greece, the future of commodity prices, and the outlook for Latin America, to name a few.  We compiled this top ten list for the past year based on readership.  Continue reading

A Shifting U.S. Policy Mix: Global Rewards and Risks


maury-obstfeld-imfBy Maurice Obstfeld

Version inعربي (Arabic),  中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)

After a year marked by financial turbulence, political surprises, and unsteady growth in many parts of the world, the Fed’s decision this month to raise interest rates for just the second time in a decade is a healthy symptom that the recovery of the world’s largest economy is on track.

The Fed’s action was hardly a surprise: markets had for weeks placed a high probability on last week’s move. But market developments preceding the Fed decision did surprise many market watchers. Continue reading

Why Productivity Growth is Faltering in Aging Europe and Japan


By iMFdirect

Many countries are experiencing a combination of declining birth rates and increasing longevity. In other words, their populations are aging. And graying populations pose serious issues for people, policymakers, and society.  Continue reading

Global House Prices: Time to Worry Again?


By Hites Ahir and Prakash Loungani

Versions in: عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)

During 2007-08, house prices in several countries collapsed, marking the onset of a global financial crisis. The IMF’s Global House Price Index, a simple average of real house prices for 57 countries, is now almost back to its level before the crisis (Chart 1). Is it time to worry again about a global fall in house prices?  Continue reading

The Evidence that Growth Creates Jobs: A New Look at an Old Relationship


By iMFdirect

Versions in عربي (Arabic), Français (French), and Español (Spanish)

The link between jobs and economic growth is not always a straight line for countries, but that doesn’t mean it’s broken.

Economists track the relationship between jobs and growth using Okun’s Law, which says that higher growth leads to lower unemployment.

New research from the IMF looks at Okun’s Law and asks, based on the evidence, will growth create jobs? The findings show a striking variation across countries in how employment responds to GDP growth over the course of a year. Continue reading

A Sea Change: The New Migration from sub-Saharan Africa


By Jesus Gonzalez-Garcia and Montfort Mlachila

Versions in Français (French), and Português (Portuguese)

Migration of sub-Saharan Africans is growing rapidly. Just like the region’s population, the number of migrants doubled since 1990 to reach about 20 million in 2013. In the coming decades, migration will expand given the demographic boom in the working-age population—the group that typically feeds migration. We studied these trends in a recent paper because both receiving and sending countries need the right policies so all can benefit.

Continue reading

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