Posted on September 7, 2016 by iMFdirect
Are robots taking over the world economy? Life imitates art, and as robotic technology becomes more sophisticated, robots could soon become perfect substitutes for human labor.
Filed under: Advanced Economies, Economic research, Employment, Globalization, growth, IMF, income, Inequality, International Monetary Fund, labor force, labor markets, technology | Tagged: Andrew Berg, capital, Edward F. Buffie, Finance & Development magazine, global economy, Luis-Felipe Zanna, robots | Leave a comment »
Posted on August 31, 2016 by iMFdirect
by Jeff Hayden
My mother eases her car into the drive-through lane at our local bank, signs the back of her check, and places it in a metal canister. WHOOSH—the cylinder flies through a pneumatic tube to the teller inside the building.
In a few minutes, the teller squawks her thanks from the intercom speaker nearby. Another WHOOSH, and the canister returns. Inside we find a deposit receipt and a lollipop. Welcome to high-efficiency consumer banking, circa 1973.
Summer 2016. In our kitchen, I watch my oldest son rip open his paycheck and whip out his iPhone. TAP. SWIPE. CLICK. The deposit is made in an instant, thanks to an app that plugs him into an electronic banking network.
Filed under: Advanced Economies, Africa, Asia, banking, China, developing countries, Economic research, Emerging Markets, Employment, euro zone, Europe, Finance, Globalization, IMF, International Monetary Fund, technology | Tagged: Aditya Narain, Andrew Berg, Chris Wellisz, cybercrime, cybertheft, de dollarization, Edward Buffie, Felipe Zanna, Hal Varian, monetary policy, Nancy Birdsall, Peru, public-private partnerships, remittances, robots, Sanjiv Ranjan Das, Sharmini Coorey, smart machines, technology | Leave a comment »
Posted on September 14, 2011 by iMFdirect
By Jeremy Clift
We used to think that overall economic growth would pull everyone up. While the rich might be getting richer, everyone would benefit and would see higher living standards. That was the unspoken bargain of the market system.
But now research is showing that, in many countries, inequality is on the rise and the gap between the rich and the poor is widening, particularly over the past quarter-century.
With taxpayers footing the bill for troubles in the financial industry in advanced economies during the global economic crisis, this discrepancy seems particularly galling to wage-earners who have seen their pay stagnate or worse. Inequality has started to attract more research by economists.
The September 2011 issue of Finance & Development (F&D) looks at income inequality around the world and how it matters. Continue reading
Filed under: IMF, Inequality, International Monetary Fund | Tagged: Andrew Berg, bank bailouts, Branko Milanovic, economic growth, Finance & Development magazine, global economic crisis, income inequality, inequality, Jonathan Ostry, Paul Krugman, Prakash Loungani, rich and poor, unemployment | 3 Comments »