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After the Crisis; Assessing the Damage in Italy

Sgherri, Silvia; Morsy, Hanan - International Monetary Fund (IMF) - 2010

Italyâ€™s deep-rooted structural problems resulted in an unsatisfactory productivity performance and a dismal growth over the last 15 years. The global financial crisis has exacerbated these long-standing weaknesses, taking a heavy toll on Italyâ€™s economy. With output back to its...

Persistent link: https://www.econbiz.de/10008727814

Why Are Japanese Wages so Sluggish?

Sommer, Martin - International Monetary Fund (IMF) - 2009

Over the past decade, productivity-adjusted wages have grown at a slower pace in Japan than in other rich countries. This paper suggests that Japan's dualities between regular and "nonregular" labor market contracts and the relatively inefficient services sector have exacerbated the negative...

Persistent link: https://www.econbiz.de/10004999951

Explaining China's Low Consumption; The Neglected Role of Household Income

Aziz, Jahangir; Cui, Li - International Monetary Fund (IMF) - 2007

The Chinese government has recently focused on the need to increase consumption to rebalance the economy. A widely held view is that despite China's remarkably high growth, the share of consumption in total expenditure has been low and declining due to high and rising saving rate of Chinese...

Persistent link: https://www.econbiz.de/10005768788

Economic Growth in Croatia; Potential and Constraints

Moore, David; Vamvakidis, Athanasios - International Monetary Fund (IMF) - 2007

This paper examines the factors and constraints that affect recent and potential growth in Croatia, as well as policies that can influence it. On current productivity trends, it estimates Croatia's potential growth rate at 4-4Â½ percent, a result reasonably robust to different methodologies....

Persistent link: https://www.econbiz.de/10005599301

Lucas vs. Lucas; On Inequality and Growth

Cordoba, Juan Carlos; Verdier, Geneviève - International Monetary Fund (IMF) - 2007

Lucas (2004) asserts that "Of the tendencies that are harmful to sound economics, the most seductive, and in my opinion the most poisonous, is to focus on questions of distribution... The potential for improving the lives of poor people by finding different ways of distributing current...

Persistent link: https://www.econbiz.de/10005599308

Sri Lanka's Sources of Growth

Duma, Nombulelo - International Monetary Fund (IMF) - 2007

This paper uses the growth accounting framework to assess Sri Lanka's sources of growth. It finds that while labor was the dominant factor contributing to growth in the 1980s, labor's contribution declined over time and was overtaken, to a large extent, by total factor productivity (TFP) and, to...

Persistent link: https://www.econbiz.de/10005599461

Do Active Labor Market Policies Increase Employment?

Estevão, Marcello M. - International Monetary Fund (IMF) - 2003

rates in the business sector in the 1990s, after controlling for many institutions, country-specific effects, and economic … by reducing real wages below levels allowed by technological growth, changes in the unemployment rate, and institutional …

Persistent link: https://www.econbiz.de/10005604960

Labor's Liquidity Service and Firing Costs

Bennett, Herman Z. - International Monetary Fund (IMF) - 2007

This paper proposes a new effect of firing costs on firms' behavior that builds from firms' demand for liquidity. When a time gap exists between production and its associated revenues, firing can become a liquidity adjustment tool that allows firms to increase their short-term liquidity. I refer...

Persistent link: https://www.econbiz.de/10005605270

Danish for All? Balancing Flexibility with Security; The Flexicurity Model

Zhou, Jian-Ping - International Monetary Fund (IMF) - 2007

labor market can coexist with a generous welfare system to achieve low unemployment. Using a panel of 19 countries over 1960 …-2002, the paper identifies the elements of the flexicurity model that may have contributed to the low unemployment rate. A … the financing aspect, the paper finds that effective implementation will depend on the initial unemployment level and …

Persistent link: https://www.econbiz.de/10005825613

Reforming Employment Protection Legislation in France

Zhou, Jian-Ping - International Monetary Fund (IMF) - 2006

EPL discourages both. The overall impact on equilibrium unemployment is thus ambiguous, depending on the characteristics … destruction effect is stronger, thus raising the unemployment rate. …

Persistent link: https://www.econbiz.de/10005825839