ILO pub-WEP pub. Working paper, literature survey of economic theories dealing with the effects of devaluation on employment and poverty in developing countries - covers exchange rate trends, income distribution in market economies and planned economies, production, and monetary policy;...

Criticizes the standard international definition of unemployment as being too restrictive to measure accurately unemployment in labour- surplus economies. Using Indonesia as a basis, proposes a definition which is based on trends in real wages which aims to reflect the real extent of labour...

Traces how stabilisation policies have affected economic development in general and the level of certain groups in particular.

The authors study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable...

The authors analyze the effects of government spending cuts on economic activity in an environment of severe fiscal strain, as reflected by a sizeable risk premium on government debt. Specifically, they consider a "sovereign risk channel," through which sovereign default risk spills over to the...

Presented at the Inaugural meeting of the Global Society of Fellows of the Global Interdependence Center, Banque de France, Paris, France, March 26, 2012

Presented at the U.S. Monetary Policy Forum, The Initiative on Global Markets University of Chicago Booth School of Business, New York, New York, February 24, 2012

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, SNS (Center for Business and Policy Studies) and SIFR (The Institute for Financial Research), Stockholm, Sweden

This paper studies the dynamics of a New Keynesian dynamic stochastic general equilibrium (DSGE) model near the zero lower bound (ZLB) on nominal interest rates. In addition to the standard targeted-inflation equilibrium, we consider a deflation equilibrium as well as a Markov sunspot...