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This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model … can help build buffers that could help France confront the next downturn from a stronger fiscal position. The analysis … highlights that, on average, fiscal policy in France exhibited a deficit bias over the past four decades, being unable to react …
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Since the early 1990s, many countries in sub-Saharan Africa have made significant progress in opening their economies to external competition through trade and currency liberalization. This paper analyzes trade and policy developments for 22 countries in eastern and southern Africa, looks at...
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The rapidly aging populations of many developed countries--most notably Japan and member countries of the European Union--present obvious problems for the public pension plans of these countries. Not only will there be disproportionately fewer workers making pension contributions than there are...
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