Humans and Intelligent Machines

Posted on November 15, 2016 by iMFdirect

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.

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Filed under: education, Employment, growth, IMF, International Monetary Fund, jobs, technology, U.S. | Tagged: , , , , , , , , , , , , , | Leave a comment »

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

Posted on November 9, 2016 by iMFdirect

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 →

Filed under: Advanced Economies, Economic research, Emerging Markets, Employment, G-20, growth, IMF, International Monetary Fund, jobs, labor force, U.S., unemployment | Tagged: , , , , , , , , , , , , , | Leave a comment »

Migrants Bring Economic Benefits for Advanced Economies

Posted on October 24, 2016 by iMFdirect

By Florence Jaumotte, Ksenia Koloskova, and Sweta Saxena

Version in Español (Spanish)

Migration, no matter how controversial politically, makes sense economically. A new IMF study shows that, over the longer term, both high- and low-skilled workers who migrate bring benefits to their new home countries by increasing income per person and living standards. High-skilled migrants bring diverse talent and expertise, while low-skilled migrants fill essential occupations for which natives are in short supply and allow natives to be employed at higher-skilled jobs. Moreover, the gains are broadly shared by the population. It may therefore be well-worth shouldering the short-term costs to help integrate these new workers.

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Filed under: Advanced Economies, Economic research, Employment, Europe, IMF, Inequality, International Monetary Fund, labor force, Migration, unemployment | Tagged: , , , , , , , , , , , , , | Leave a comment »

Tariffs Do More Harm Than Good at Home

Posted on September 8, 2016 by iMFdirect

maurice-obstfeld2By Maurice Obstfeld

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

A longstanding challenge for the global economy is the possibility that some countries compete for export markets through artificially low prices. Political leaders and pundits sometimes propose import tariffs to offset the supposed price advantages and exert pressure for policy changes abroad. What proponents often fail to realize is that such tariff policies, while certainly hurting their targets, can also be very costly at home. And surprisingly, the self-inflicted harm can be substantial even when trade partners do not retaliate with tariffs of their own. Continue reading →

Filed under: Advanced Economies, Asia, Economic outlook, Employment, IMF, International Monetary Fund, trade, U.S. | Tagged: , , , , , , , , , , , , , | Leave a comment »

The Euro Area Workforce is Aging, Costing Growth

Posted on August 17, 2016 by iMFdirect

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 →

Filed under: Advanced Economies, aging, Employment, euro zone, Europe, growth, health, IMF, International Monetary Fund, labor force | Tagged: , , , , , , , , , , , , , , , | Leave a comment »

Emigration Slows Eastern Europe’s Catch Up With the West

Posted on July 20, 2016 by iMFdirect

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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Filed under: Advanced Economies, Economic research, Employment, euro zone, Europe, growth, income, Inequality, International Monetary Fund, Migration, refugees, unemployment | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment »

Growing Older: Germany Needs Reforms

Posted on June 29, 2016 by iMFdirect

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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Filed under: Advanced Economies, aging, Economic outlook, Employment, Europe, IMF, International Monetary Fund, unemployment | Tagged: , , , , , , , , , , , , , , | Leave a comment »

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