Posted on October 24, 2016 by iMFdirect
By Florence Jaumotte, Ksenia Koloskova, and Sweta Saxena
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.
Filed under: Advanced Economies, Economic research, Employment, Europe, IMF, Inequality, International Monetary Fund, labor force, Migration, unemployment | Tagged: advanced economies, employment, European migration, GDP, IMF, inequality, International Monetary Fund, labor force, labor productivity, migrants, Migration, nanny effect, public spending, unemployment | Leave a comment »
Posted on September 29, 2016 by iMFdirect
By Ian Bremmer and David Lipton
Versions: عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)
Too often, a spirit of international cooperation evaporates just when it is most needed and most promising. And then, lack of cooperation leads to crisis; crisis belatedly forces cooperation; but that cooperation must begin with picking up the pieces.
Filed under: Advanced Economies, Annual Meetings, China, Economic Crisis, Economic research, Emerging Markets, Europe, IMF, Inequality, International Monetary Fund, Middle East, U.S. | Tagged: advanced economies, BRICs, Chiang Mai Initiative, China, David Lipton, emerging market economies, Europe, G20, Ian Bremmer, IMF, IMF/World Bank Annual Meetings, iMFdirect, inequality, International Monetary Fund, Middle East, New Development Bank, refugees, technology, United Nations, United States | Leave a comment »
Posted on September 6, 2016 by iMFdirect
By Longmei Zhang
Version in 中文 (Chinese)
The word “rebalancing” is often used to describe China’s economic transition. But what does it mean? And how much is China rebalancing? A recent IMF paper attempts to answer these questions. Continue reading
Filed under: Advanced Economies, aging, Asia, China, climate change, Financial markets, growth, Inequality, International Monetary Fund, Reform | Tagged: aging, China, Chinese economy, Climate change, economic rebalancing, GDP, global financial crisis, IMF, iMFdirect, inequality, International Monetary Fund, investment, pollution, structural reforms | Leave a comment »
Posted on May 3, 2016 by iMFdirect
By Prakash Loungani and Zidong An
Version in Español (Spanish)
Forecasts of real GDP growth attract a lot of media attention. But what matters more to the person on the street is how growth translates into jobs. Unfortunately, the mediocre growth outlook of recent years may lead to a disturbing outlook for jobs, particularly among fuel-exporting countries and in the Latin America and Caribbean region.
Filed under: Advanced Economies, Caribbean, developing countries, Emerging Markets, euro zone, Inequality, International Monetary Fund, Latin America, U.S., unemployment | Tagged: Argentina, Brazil, Caribbean, euro area, IMF, inequality, jobs, labor market, Latin America, Okun coefficient, poverty, unemployment, United States, Venezuela, World Economic Outlook | Leave a comment »
Posted on March 17, 2016 by iMFdirect
We should have seen a decrease in inequality with globalization, but that’s not what has happened in the last 25 years, according to Nobel Laureate and Harvard Professor Eric Maskin. While there are a number of reasons to care about inequality, he says there is a high correlation between high inequality and social and political unrest, with consequences for a country’s political and economic stability.
Filed under: Advanced Economies, Economic research, Emerging Markets, Employment, Globalization, IMF, Inequality, International Monetary Fund, Low-income countries | Tagged: Eric Maskin, Globalization, iMFdirect, inequality, job skills | Leave a comment »
Posted on March 10, 2016 by iMFdirect
By Rahul Anand and Paul Cashin
After being low for decades, inflation in India trended higher from the mid-2000s. It reached 10–11 percent by 2008, and remained elevated at double digits for several years. Even though inflation fell by almost half in 2014, inflation expectations have remained high.
High and persistent inflation in recent years has presented serious macroeconomic challenges in India, increasing the country’s domestic and external vulnerabilities. As Reserve Bank of India Governor Raghuram Rajan pointed out at the 8th R.N. Kao Memorial Lecture in 2014, “inflation is a destructive disease … we can’t push inflation under the carpet as a central banker. We have to deal with it.”
Filed under: Asia, Emerging Markets, IMF, Inequality, inflation, International Monetary Fund, LICs | Tagged: demand, food prices, food supply, growth, households, IMF, India, inequality, inflation, International Monetary Fund, Reserve Bank of India | Leave a comment »
Posted on November 24, 2015 by iMFdirect
By Davide Furceri and Prakash Loungani
(Version in Español)
It is well accepted that trade generates winners and losers. The past few decades have seen increases not just in trade in goods and services but trade in assets, as countries relax restrictions on the ability of capital to flow across national boundaries. Surprisingly, while the impact of trade in goods and services on inequality has been extensively studied, little attention has been paid to the distributional impacts of opening up capital markets. Our paper fills this gap.
Filed under: Economic outlook, Economic research, International Monetary Fund | Tagged: capital accounts, capital flows, Chinn-Ito index, gini coefficient, IMF, iMFdirect, inequality, International Monetary Fund, markets, trade liberalization, trade openness | Leave a comment »