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Recent U.S. Labor Force Dynamics: Reversible or not?
Balakrishnan, Ravi; Dao, Mai; Sole, Juan; Zook, Jeremy - International Monetary Fund (IMF) - 2015
The U.S. labor force participation rate (LFPR) fell dramatically following the Great Recession and has yet to start recovering. A key question is how much of the post-2007 decline is reversible, something which is central to the policy debate. The key finding of this paper is that while around...
Persistent link: https://www.econbiz.de/10011242381
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Uncertainty and Unemployment: The Effects of Aggregate and Sectoral Channels
Choi, Sangyup; Loungani, Prakash - International Monetary Fund (IMF) - 2015
We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and … measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic … vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with …
Persistent link: https://www.econbiz.de/10011242392
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Official Financial Flows, Capital Mobility, and Global Imbalances
Bayoumi, Tamim; Gagnon, Joseph E.; Saborowski, Christian - International Monetary Fund (IMF) - 2014
We use a cross-country panel framework to analyze the effect of net official flows (chiefly foreign exchange intervention) on current accounts. We find that net official flows have a large but plausible effect on current account balances. The estimated effects are larger with instrumental...
Persistent link: https://www.econbiz.de/10010959470
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Belgium; Technical Note on Stress Testing the Banking and Insurance Sectors
International Monetary Fund (IMF); International … - 2013
The Belgium Financial Sector Assessment Program (FSAP) stress testing exercise examines a financial sector that remains in a state of transformation. Domestic economic challenges remain sources of continued uncertainty as the banking sector consolidates and reduces funding risks. Insurers face...
Persistent link: https://www.econbiz.de/10011245216
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Capital Inflows; The Role of Controls
Ostry, Jonathan David; Ghosh, Atish R.; Habermeier, … - International Monetary Fund (IMF) - 2010
With the global economy beginning to emerge from the financial crisis, capital is flowing back to emerging market countries (EMEs). These flows, and capital mobility more generally, allow countries with limited savings to attract financing for productive investment projects, foster the...
Persistent link: https://www.econbiz.de/10011245861
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Financial Integration, Growth, and Volatility
Epaulard, Anne; Pommeret, Aude - International Monetary Fund (IMF) - 2005
The aim of this paper is to evaluate the welfare gains from financial integration for developing and emerging market economies. To do so, we build a stochastic endogenous growth model for a small open economy that can (i) borrow from the rest of the world, (ii) invest in foreign assets, and...
Persistent link: https://www.econbiz.de/10005248157
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Financial Sector Evolution in the Central European Economies; Challenges in Supporting Macroeconomic Stability and Sustainable Growth
Wagner, Nancy L.; Iakova, Dora M. - International Monetary Fund (IMF) - 2001
This paper takes stock of the current state of development of the financial systems in five Central European transition economies (the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia) that are also leading EU accession candidates. It presents both a progress report and an...
Persistent link: https://www.econbiz.de/10005248292
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Romania; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2003
This Selected Issues paper and Statistical Appendix provides an estimate of the long-term path of Romania’s real exchange rate. The paper describes the recent history of the real exchange rate and its main determinants. A model is developed of a time-varying long-term exchange rate path,...
Persistent link: https://www.econbiz.de/10005252850
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Capital Income Taxation and Economic Growth in Open Economies
Palomba, Geremia - International Monetary Fund (IMF) - 2004
Do reductions in capital income taxes attract foreign capital and, at the same time, foster economic growth? This paper examines the effect of capital income taxation on the international allocation of capital and on economic growth in a two-country overlapping generations model with endogenous...
Persistent link: https://www.econbiz.de/10005263657
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Malaysian Capital Controls; Macroeconomics and Institutions
Tamirisa, Natalia T.; Johnson, Simon; Kochhar, Kalpana; … - International Monetary Fund (IMF) - 2006
We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political...
Persistent link: https://www.econbiz.de/10005263746