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This Selected Issues paper examines implications of capital account liberalization in Iceland. Capital controls were critical in 2008 to avoid a more severe collapse of the Icelandic economy. Six years later, capital inflows have been liberalized, but most outflows remain restricted. Iceland has...
Persistent link: https://www.econbiz.de/10011244178
This Selected Issues paper assesses the youth unemployment problem in advanced European economies, especially the euro area. Youth unemployment rates increased sharply in the euro area after the crisis. Much of these increases can be explained by output dynamics and the greater sensitivity of...
Persistent link: https://www.econbiz.de/10011244439
This paper outlines the challenge of developing an operational macroeconomic framework in Ethiopia consistent with the large envisaged scaling up of aid to achieve the Millennium Development Goals (MDGs). This paper describes an MDG scenario that addresses both microeconomic and macroeconomic...
Persistent link: https://www.econbiz.de/10005248180
The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the...
Persistent link: https://www.econbiz.de/10010790344
implementation of the infrastructure investment program, higher domestic saving, and structural reforms. …
Persistent link: https://www.econbiz.de/10011242465
investment for Kuwait under uncertainty. The results show that in the face of high oil income volatility and the expected decline … is room to increase investment spending, which should contribute to the growth of the tradable sector, as the projected … investment rate is lower than the optimal investment rate of 20 percent of government income. …
Persistent link: https://www.econbiz.de/10011242728
Persistent link: https://www.econbiz.de/10010878426
France’s near–term economic outlook is moderately positive, but clouded by risks from the global environment. The government’s reformist intentions provide an historic opportunity to place France onto a sustained higher growth path with greater opportunities for all....
Persistent link: https://www.econbiz.de/10011244757
The global financial crisis hit Denmark hard, and the recovery has been slow and unsteady. Denmark’s slow growth predates the recent economic crisis, and the economy has underperformed its regional peers. The current account remains in surplus, largely reflecting weak domestic demand...
Persistent link: https://www.econbiz.de/10011244874
Japan has responded swiftly to stabilize markets, and activity has begun to recover. The immediate priority is to repair damaged infrastructure and facilitate a swift recovery. Financial policies should protect against the risk of an economic slowdown and higher market volatility. Timely...
Persistent link: https://www.econbiz.de/10011244887