Posted on July 20, 2016 by iMFdirect
(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.
Filed under: Advanced Economies, Economic research, Employment, euro zone, Europe, growth, income, Inequality, International Monetary Fund, Migration, refugees, unemployment | Tagged: advanced economies, Bulgaria, Czech Republic, East-West migration, eastern Europe, emigration, employment, Estonia, Europe, European Union, GDP, growth, Hungary, IMF, iMFdirect, International Monetary Fund, jobs, labor force, Latvia, Lithuania, pan-European, Romania, Russia, Slovakia, Slovenia | Leave a comment »
Posted on June 30, 2016 by iMFdirect
When global banks decide to withdraw from some countries and no longer do business with banks there, the global effect so far has been a gentle ripple, but if unaddressed, it may become more like a tsunami for the countries they leave.
Filed under: banking, Financial regulation, IMF, International Monetary Fund, Investment, trade | Tagged: Angola, banking services, Caribbean, Financial regulation, financial system, foreign payments, global banks, growth, IMF, iMFdirect, International Monetary Fund, investment, jobs, Liberia, Samoa, trade | Leave a comment »
Posted on May 18, 2016 by iMFdirect
By Pritha Mitra
Version in عربي (Arabic)
Every year, millions of people leave their countries of birth in search of better opportunities abroad. Often, these migrants are among the most talented workers in their home countries. At first glance, this is a loss for the home countries, which invested considerable time and money in educating and developing these people, only to watch them leave. But look again.
Filed under: developing countries, Emerging Markets, Employment, Government, growth, International Monetary Fund, Investment, Migration, refugees, technology | Tagged: Africa, Asia, developing countries, diaspora, emerging economies, Europe, GDP, governments, growth, IMF, India, International Monetary Fund, jobs, Latin America, Middle East, Migration, refugees, remittances, United States | 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 31, 2016 by iMFdirect
By Vitor Gaspar and Ruud De Mooij
Versions in عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), Español (Spanish)
Imagine how three-dimensional printing, driverless cars and artificial intelligence will change our future. Or think of how developments in information technology, e-commerce and the sharing economy are already changing the way we learn, work, shop, and travel. Innovation drives progress and, in economic terms, determines productivity growth. And productivity growth, in turn, determines prosperity. It impacts our lives and well-being in fundamental ways: it determines where and how long we live; it determines our quality of life. Continue reading
Filed under: Fiscal, Fiscal policy, IMF, International Monetary Fund, technology | Tagged: Australia, Belgium, Chile, entrepreneurs, Fiscal Monitor, fiscal policy, France, IMF, iMFdirect, International Monetary Fund, jobs, Keynes, Korea, Netherlands, productivity growth, R&D, Shumpeter, Spain, tax policy | Leave a comment »
Posted on August 31, 2015 by iMFdirect
For a man who declared on his arrival at the IMF “I do not blog,” Olivier Blanchard, our soon-to-be former Chief Economist, is one hell of a blogger.
Prolific and popular. A demi-god: half economist, half artist. Blanchard writes the way he thinks: sharp, frank, and intellectual, while pushing against the edges of his métier with the creativity and honesty of a singular economist.
Filed under: Advanced Economies, Economic Crisis, Economic outlook, Emerging Markets, Europe, Financial Crisis, Fiscal policy, International Monetary Fund, Multilateral Cooperation | Tagged: Greece, IMF Annual Research Conference, IMF chief economist, jobs, Latvia, macroeconomic policy, oil prices, Olivier Blanchard | 1 Comment »
Posted on August 24, 2015 by iMFdirect
By Giovanni Ganelli and Naoko Miake
(Version in 日本語)
Take a walk in Tokyo, and you will see the sign スタッフ募集中, or “Staff Wanted”, outside many restaurants and convenience stores. These businesses often find it impossible to recruit the workers they need. According to recent statistics, for each job seeker in Japan applying to work as a waiter, there are more than three available positions. Home helpers and long-term caregivers are equally in demand. If you want to work as a security guard, you can choose from around five openings, and for some positions in the construction business the job-to-applicant ratio is over six.
Japan’s labor shortages are the result of both a shrinking population—which limits the overall pool of workers—and skill mismatches. The reduced supply of labor is one of the factors bringing down medium-term potential growth, which the International Monetary Fund estimates at just 0.6 percent. Labor market shortages are also bad for short-term growth, because they reduce the effectiveness of the monetary and fiscal stimulus that the authorities are using to try to boost demand.
Filed under: Advanced Economies, Asia, Economic outlook, Economic research, Emerging Markets, Employment, Fiscal policy, growth, IMF, Inequality, International Monetary Fund, Investment, Reform, unemployment | Tagged: Abenomics, female labor participation, immigration, investment, Japan, jobs, labor market, women | Leave a comment »