To better respond to the unprecedented demand from the membership for financing and crisis support in response to the covid-19 pandemic, there is a temporary postponement of staff's work on Article IV consultations and mandatory Financial Stability Assessments. To ensure the postponement has no...

This Selected Issues paper analyzes external shocks and business cycle fluctuations in Mexico. The paper examines the relative importance of U.S. demand shocks—and other foreign disturbances—in explaining Mexican output fluctuations. It identifies the dynamic response of...

This paper uses VAR models to examine the magnitude and sources of growth spillovers to the Baltics from key trading partners, as well asfrom the real effective exchange rate (REER). Our results show there are significant cross-country spillovers to the Baltics with those from the EU outweighing...

This paper focuses on the private nonfinancial sectors of the affected economies, financial liberalization provided households and businesses with greater access to credit markets. This contributed to the long period of expansion during the 1980s. Partly as a result of major changes to the...

This paper reviews recent analytical and empirical research on the determination of employment, to provide a framework for evaluating the merits of alternative policies to cope with unemployment. Particular emphasis is placed on the mechanisms of employment and wage determination described in...