Posted on December 6, 2016 by iMFdirect
By Deniz Igan
Michael Mussa, a former Chief Economist of the IMF, famously likened capital account liberalization to fire. In his comments at the IMF Economic Forum on October 2, 1998, he said: “Fire warms our homes, it cooks our food, our internal combustion engines,” and continued: “No doubt, fire is very useful, and we are not going to give up its manifold benefits. On the other hand, fire can also burn you down and do a great deal of damage.”
Filed under: capital markets, developing countries, Economic research, Financial markets, growth, IMF, International Monetary Fund | Tagged: capital inflows, capital markets, emerging market economies, equity, external financing, external shocks, growth, IMF, iMFdirect blog, output volatility | Leave a comment »
Posted on November 30, 2016 by iMFdirect
By Camilla Lund Andersen
2016 has been a year of political upheaval, as accepted truths about the power of globalization to transform lives and lift millions out of poverty are being questioned by electorates in Europe, the United States, and elsewhere. No longer prepared to take experts and elites at their word, many voters appear to be rejecting the adverse consequences of globalization by casting their ballot for antiestablishment messages and candidates.
Filed under: Employment, Globalization, growth, IMF, income, Inequality, International Monetary Fund, Investment, jobs, trade, unemployment | Tagged: employment, F&D, Finance & Development magazine, Globalization, growth, IMF, iMFdirect blog, inequality, International Monetary Fund, investment, jobs, trade, trade unions, unemployment | Leave a comment »
Posted on November 29, 2016 by iMFdirect
By Philip Gerson and Johannes Wiegand
For an economist interested in examining the evolution of monetary and exchange rate regimes, Central, Eastern and Southeastern Europe (CESEE) provides a habitat of unparalleled diversity. Almost every type of regime can be found in the region: from floating and inflation targeting over various pegs to the unilateral use of the euro and full euro area membership.
Filed under: deflation, Economic research, euro zone, Europe, exchange rates, Fiscal policy, IMF, inflation, International Monetary Fund, structural reforms | Tagged: Central Europe, CESEE, deflation, Europe, eurozone, exchange rate flexibility, exchange rate regimes, exchange rates, fiscal policy, inflation, monetary policy, Southeastern Europe, structural policy | Leave a comment »
Posted on November 16, 2016 by iMFdirect
By Jim Brumby and Michael Keen
Tax officials and experts grappled with the issue of tax treaties several weeks ago at the IMF-World Bank Annual Meetings. This arcane subject has now emerged as a new lightning rod in the debate on fairness in international taxation. As citizens demand that corporations pay their fair share of taxes and some governments struggle to raise enough revenues for basic services, tax treaties present difficult issues.
Filed under: Annual Meetings, developing countries, Fiscal policy, Government, IMF, International Monetary Fund, Investment, taxation, U.S. | Tagged: economic development, fiscal policy, IMF, IMF-World Bank Annual Meetings, income tax rates, International Monetary Fund, international taxation, investment, tax agreements, Tax Treaties, taxation, trade, World Bank | Leave a comment »
Posted on November 15, 2016 by iMFdirect
Inventor and futurist Ray Kurzweil, says intelligent machines are your friends.
In this podcast, Kurzweil talks about how artificial intelligence is helping overcome our human limitations and creating better-paying jobs.
Filed under: education, Employment, growth, IMF, International Monetary Fund, jobs, technology, U.S. | Tagged: economic development, education, employment, IMF, IMF podcast, iMFdirect blog, information technology, intelligent machines, International Monetary Fund, job creation, jobs, Ray Kurzweil, technology, United States | Leave a comment »
Posted on November 10, 2016 by iMFdirect
By Ruud de Mooij, Michael Keen, and Alexander Tieman
“The Great Distortion.” That’s what The Economist, in its cover story of May 2015¸ called the systematic tax advantage of debt over equity that is found in almost every tax system.
This “debt bias” is now widely recognized as a real risk to economic stability. A new IMF study argues that it needs to feature more prominently on tax reform agendas; it also sets out options for how to do that.
Filed under: Economic research, Finance, Fiscal policy, IMF, International Monetary Fund, Public debt, taxation | Tagged: allowance for corporate equity (ACE), debt, debt financing, equity, European Commission, European Union, finance, fiscal policy, IMF, iMFdirect blog, International Monetary Fund, taxation | Leave a comment »