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A Phillips Curve with Anchored Expectations and Short-Term Unemployment
Ball, Laurence M.; Mazumder, Sandeep - International Monetary Fund (IMF) - 2015
This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor-market slack is captured by the level of shortterm...
Persistent link: https://www.econbiz.de/10011242402
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Value of WTO Trade Agreements in a New Keynesian Model
Ganelli, Giovanni; Tervala, Juha - International Monetary Fund (IMF) - 2015
We revisit the question of the quantitative benefits of WTO trade agreements in a setup that is non-standard from the traditional trade policy point of view. We show that in a New Keynesian model, unilateral trade liberalization reduces welfare due to terms-of-trade deterioration, creating an...
Persistent link: https://www.econbiz.de/10011242404
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Inflation Reports and Models: How Well Do Central Banks Really Write?
Bulir, Ales; Hurník, Jaromír; Smidkova, Katerina - International Monetary Fund (IMF) - 2014
We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation factors reported by the central banks with ex-post...
Persistent link: https://www.econbiz.de/10011142061
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Minimum Wages and Firm Employment: Evidence from China
Huang, Yi; Loungani, Prakash; Wang, Gewei - International Monetary Fund (IMF) - 2014
This paper provides the first systematic study of how minimum wage policies in China affect firm employment over the … impact on employment, with an estimated elasticity of -0.1. Furthermore, we find a heterogeneous effect of the minimum wage … on employment which depends on the firm's wage level. Specifically, the minimum wage has a greater negative impact on …
Persistent link: https://www.econbiz.de/10011123849
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Uncertainty and the Employment Dynamics of Small and Large Businesses
Ghosal, Vivek; Ye, Yang - International Monetary Fund (IMF) - 2015
We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment …-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we need to …
Persistent link: https://www.econbiz.de/10011123865
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The Federal Democratic Republic of Ethiopia; Selected Issues
International Monetary Fund (IMF); International … - 2013
This Selected Issues paper reviews the extent to which growth in Ethiopia has translated into higher living standards. A key feature of the economic strategy has been an explicit commitment to poverty reduction and structural transformation. This is underpinned by the vision of a...
Persistent link: https://www.econbiz.de/10011244172
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Sudan; Selected Issues Paper
International Monetary Fund (IMF); International … - 2012
This selected issues paper on Sudan was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on September 7, 2012. The views expressed...
Persistent link: https://www.econbiz.de/10011244203
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Federated States of Micronesia; Statistical Appendix
International Monetary Fund (IMF); International … - 2011
This statistical appendix for the Federated States of Micronesia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with wages. Consumer price index, Pohnpei consumer index, Chuuk consumer index, Kosrae consumer index, and...
Persistent link: https://www.econbiz.de/10011244212
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Jordan; Selected Issues
International Monetary Fund (IMF); International … - 2012
This Selected Issues Paper focuses on economic condition, energy subsidies, and oil prices in Jordan. Energy price subsidies pose a serious fiscal risk in the present context of increasing and volatile international prices. The macroeconomic situation in Jordan is closely tied to that of other...
Persistent link: https://www.econbiz.de/10011244218
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Algeria: Selected Issues Paper
International Monetary Fund (IMF); International … - 2014
This Selected Issues paper discusses the need to meet Algeria’s fiscal challenges. Although Algeria enjoys substantial fiscal savings, fiscal policy is currently on an unsustainable path. Under current projections, Algeria will deplete its financial savings in the long term, leaving...
Persistent link: https://www.econbiz.de/10011244222