Back to School Blogs


By iMFdirect

It’s been a busy summer, and you might not have had a chance to read everything as it came across your screen.  So as your holidays wind down and you head to work, the editors at iMFdirect have put together some key blogs on hot topics to help you get back up to speed by September.

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The Euro Area Workforce is Aging, Costing Growth


By Shekhar Aiyar, Christian Ebeke, and Xiaobo Shao

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

In parallel to the aging of the general population, the workforce in the euro area is also growing older. This could cause productivity growth to decline in the years ahead, raising another policy challenge for governments already dealing with legacies from the crisis such as high unemployment and debt.  Continue reading

Emigration Slows Eastern Europe’s Catch Up With the West


By Nadeem Ilahi, Anna Ilyina, and Daria Zakharova

(Versions in: Bulgarian, Czech, Estonian, Hungarian, Latvian, Lithuanian, Polish, Romanian, Russian, Serbian, and Slovenian)

The opening up of Eastern Europe to the rest of the world in the early 1990s brought about tremendous benefits. The inflow of capital and innovation has led to better institutions, better economic management, and higher efficiency. On the flip side, it has also led to sizable and persistent outflow of people.

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Growing Older: Germany Needs Reforms


By Enrica Detragiache, Jean-Marc Natal, and Joana Pereira

Version in Deutsch (German)

Germany, a champion of structural reform prescriptions within the European Union, needs a large dose of the same medicine at home, too. Beyond public investment in transport and telecommunications, and more competition in services, dealing with an aging population needs urgent attention. With the right policies, Germany can bring more people into the workforce—and for longer—to counter the demographic trend, argues a recent study accompanying the regular health check of the German economy by the International Monetary Fund.

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Reducing Inequality in Asia: Sharing the Growth Dividend


By Sonali Jain-Chandra, Kalpana Kochhar and Tidiane Kinda

Versions in 中文 (Chinese), 日本語 (Japanese)

Asia continues to be the world’s growth leader, but the gains from growth are less widely shared than before. Until about 1990, Asia grew rapidly and secured large gains in poverty reduction while simultaneously achieving a fairly equitable society. Since the early 1990s, however, the region has witnessed widening income inequality that has accompanied its robust expansion—a break from its own remarkable past.

This matters because elevated levels of inequality are harmful for the pace and sustainability of growth. What can be done? Our research finds that policies could substantially reverse the trend of rising inequality. In particular, given limited social safety nets, well-designed fiscal policies may be able to alleviate inequality without stifling the region’s wealth-creating growth.

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Addition by Subtraction: How Diasporas Can Boost Home-Country Growth


Pritha Mitra-blogpicBy Pritha Mitra

Version in عربي (Arabic)

Every year, millions of people leave their countries of birth in search of better opportunities abroad. Often, these migrants are among the most talented workers in their home countries. At first glance, this is a loss for the home countries, which invested considerable time and money in educating and developing these people, only to watch them leave. But look again.

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Oil Prices and the Global Economy: It’s Complicated


By Maurice Obstfeld, Gian Maria Milesi-Ferretti, and Rabah Arezki

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

Oil prices have been persistently low for well over a year and a half now, but as the April 2016 World Economic Outlook will document, the widely anticipated “shot in the arm” for the global economy has yet to materialize. We argue that, paradoxically, global benefits from low prices will likely appear only after prices have recovered somewhat, and advanced economies have made more progress surmounting the current low interest rate environment.

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