Posted on March 13, 2017 by iMFdirect
By Angana Banerji, Era Dabla-Norris, Romain Duval, and Davide Furceri
Versions in 中文 (Chinese), Français (French),Deutsch (German), Русский (Russian), and Español (Spanish)
Many advanced countries need structural reforms to make their economies more productive and raise long-term living standards. Our new research shows that provided countries can afford it, fiscal policy, through spending or tax incentives, can help governments overcome some obstacles to the reforms, particularly in the early stages. Continue reading
Filed under: Advanced Economies, Fiscal policy, International Monetary Fund, labor markets, structural reforms | Tagged: An Optimist’s Guide to Thriving in the Age of Accelerations, corporate taxes, debt, deregulation, employment, Finland, fiscal policy, GDP, Germany, growth, Ireland, jobs, labor market reforms, product market reforms, productivity, spending, tax incentives, tax revenues, the Netherlands, United Kingdom | Leave a comment »
Posted on February 24, 2017 by iMFdirect
“If we’re fighting each other because we can’t design a system that actually works for everybody, then working people will again continue to mistrust our institutions, and the threat to democracy is very real; you see it.” – Sharan Burrow
Burrow is General Secretary of the International Trade Union Confederation, and in this podcast she says collective action is needed to help better distribute the benefits of growth. Continue reading
Filed under: Gender issues, Globalization, IMF, jobs, labor force, trade, unemployment, wages | Tagged: employment, gender, Globalization, growth, iMFdirect blog, infrastructure investment, ITUC, jobs, Labor, labor force, Sharan Burrow, trade, unemployment, wages, women, youth unemployment | Leave a comment »
Posted on February 22, 2017 by iMFdirect
By Prakash Loungani and Jonathan D. Ostry
Versions in عربي (Arabic), 中文 (Chinese), Français (French), and Español (Spanish)
Over the past three decades, income inequality has gone up in most advanced economies and in many developing ones as well. Why? Much of the research on inequality has focused on advances in technology and liberalization of trade as the main drivers. While technology and trade are global trends that are difficult to resist, IMF studies have shown that the design of government policies matters and can help limit increases in inequality. Continue reading
Filed under: capital markets, developing countries, Economic research, growth, IMF, inclusive growth, income, Inequality | Tagged: capital markets, developing economies, Ethiopia, growth, IMF, iMFdirect blog, income distribution, income inequality, inequality, Jonathan Ostry, labor markets, Myanmar, Prakash Loungani, predistribution, redistribution, sustainable growth | Leave a comment »
Posted on January 24, 2017 by iMFdirect
By Prakash Loungani
Versions in 中文 (Chinese), Français (French), and Español (Spanish)
Four years ago, at the World Economic Forum in Davos, IMF Managing Director Christine Lagarde warned of the dangers of rising inequality, a topic that has now risen to the very top of the global policy agenda.
While the IMF’s work on inequality has attracted the most attention, it is one of several new areas into which the institution has branched out in recent years. A unifying framework for all this work can be summarized in two words: Inclusive growth. Continue reading
Filed under: Economic research, Globalization, growth, IMF, inclusive growth, Inequality | Tagged: Christine Lagarde, financial globalization, financial inclusion, gender, global policy agenda, governance, growth, IMF, iMFdirect blog, inclusive growth, inequality, International Monetary Fund, jobs, redistribution | Leave a comment »
Posted on January 23, 2017 by iMFdirect
By Alejandro Werner
Versions in Português (Portuguese), and Español (Spanish)
The global landscape has changed since our last update in October 2016. These changes have been mainly shaped by:
- An anticipated shift in the U.S. policy mix, higher growth and inflation, and a stronger dollar. In the United States—while potential policy changes remain uncertain—fiscal policy is likely to become expansionary, while monetary policy is expected to tighten faster than previously expected because of stronger demand and inflation pressures. As a result, growth is projected to rise to 2.3 percent in 2017 and 2.5 percent in 2018—a cumulative increase in GDP of ½ percentage point relative to the October forecast. The expected change in the policy mix and growth has led to an increase in global long-term interest rates, a stronger dollar in real effective terms, and a moderation of capital flows to Latin America.
- Improved outlook for other advanced economies and China for 2017–18, reflecting somewhat stronger activity in the second half of 2016 as well as projected policy stimulus.
- Some recovery in commodity prices, especially metal and oil prices, on the back of strong infrastructure and real estate investment in China, expectations of fiscal easing in the United States, and agreement among major petroleum producers to cut supply.
Filed under: Caribbean, Economic outlook, growth, IMF, International Monetary Fund, Latin America, structural reforms | Tagged: Caribbean, Central America, GDP, growth, IMF, iMFdirect blog, infrastructure development, International Monetary Fund, Latin America, regional economic outlook, South America, structural reform | Leave a comment »
Posted on December 20, 2016 by iMFdirect
By 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
Filed under: Advanced Economies, Emerging Markets, Fiscal policy, Government, growth, interest rates, International Monetary Fund, jobs, labor force, U.S. | Tagged: developing economies, emerging market economies, exchange rates, government spending, growth, IMF, iMFdirect blog, inflationary pressures, interest rates, jobs, labor force, trade, U.S. elections, U.S. Fed, U.S. taxes, United States | Leave a comment »