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Bornhorst, Fabian; Mody, Ashoka - International Monetary Fund (IMF) - 2012

. But Germany has almost equally consistently run current account surpluses. Exports have powered the dynamic phases and … delivery of services, will be good for Germany and for the global economy. Absent such an effort, German growth will remain … constrained, and Germany will play only a modest role in spurring growth elsewhere. …

Persistent link: https://www.econbiz.de/10011142028

Germany: Selected Issues

International Monetary Fund (IMF); International … - 2014

Persistent link: https://www.econbiz.de/10011244338

Das Public Kapital: How Much Would Higher German Public Investment Help Germany and the Euro Area?

Elekdag, Selim; Muir, Dirk - International Monetary Fund (IMF) - 2014

Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not only stimulate domestic demand in the near term and reduce the current account surplus, but would also raise output over the longer-run as well as generate beneficial regional...

Persistent link: https://www.econbiz.de/10011123846

Shock from Graying; Is the Demographic Shift Weakening Monetary Policy Effectiveness

Imam, Patrick A. - International Monetary Fund (IMF) - 2013

Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

Persistent link: https://www.econbiz.de/10011242214

Belgium; Selected Issues

International Monetary Fund (IMF); International … - 2004

Belgium has effected a remarkable fiscal adjustment, best illustrated by the decline in its public debt. While benefiting from an appreciable decline in interest rates, most of the underlying consolidation reflected a considerable increase in the tax burden, one of the highest in the...

Persistent link: https://www.econbiz.de/10005768647

Do Active Labor Market Policies Increase Employment?

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

Using panel data for 15 industrial countries, active labor market policies (ALMPs) are shown to have raised employment rates in the business sector in the 1990s, after controlling for many institutions, country-specific effects, and economic variables. Among such policies, direct subsidies to...

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

Capital Flows, Financial Intermediation and Macroprudential Policies

Ghilardi, Matteo; Peiris, Shanaka J. - International Monetary Fund (IMF) - 2014

This paper develops an open-economy DSGE model with an optimizing banking sector to assess the role of capital flows, macro-financial linkages, and macroprudential policies in emerging Asia. The key result is that macro-prudential measures can usefully complement monetary policy. Countercyclical...

Persistent link: https://www.econbiz.de/10010959468

The Case for a Long-Run Inflation Target of Four Percent

Ball, Laurence M. - International Monetary Fund (IMF) - 2014

Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero bound on interest rates, with the result that economic...

Persistent link: https://www.econbiz.de/10010790372

Commodity Price Shocks and Imperfectly Credible Macroeconomic Policies in Commodity-Exporting Small Open Economies

Guzman, Juan Pablo Medina; Soto, Claudio - International Monetary Fund (IMF) - 2014

In this paper, we analyze how lack of credibility and transparency of monetary and fiscal policies undermines the effectiveness of macroeconomic policies to isolate the economy from commodity price fluctuations. We develop a general equilibrium model for a commodity-exporting economy where macro...

Persistent link: https://www.econbiz.de/10010790403

On the use of Monetary and Macroprudential Policies for Small Open Economies

Ozkan, F. Gulcin; Unsal, D. Filiz - International Monetary Fund (IMF) - 2014

We explore optimal monetary and macroprudential policy rules for a small open economy. Delegating 'lean against the wind' squarely to macroprudential policy provides a more robust policy mix to shock uncertaintyâ€”(i) if macroprudential measures exist, there are no significant welfare gains...

Persistent link: https://www.econbiz.de/10011123819

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