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A Tradeoff between the Output and Current Account Effects of Pension Reform
Catalan, Mario; Magud, Nicolas E. - International Monetary Fund (IMF) - 2012
We compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the...
Persistent link: https://www.econbiz.de/10010790246
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India; 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
India’s economy has slowed substantially before and after the global financial crisis. The economy is in a weaker position than before the crisis. With investment particularly hard-hit, potential GDP is likely to be lower than estimated. Inflation is constraining the room for monetary...
Persistent link: https://www.econbiz.de/10011242869
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India; Financial Sector Assessment Program—Detailed Assessments Report on CPSS IOSCO Recommendations for Securities Settlement Systems and Central Counterparties
International Monetary Fund (IMF); International … - 2013
India. The results indicate that, in general, the risk management framework for the securities and derivatives clearing and … settlement systems in India is prudent. The operational reliability is high, and the regulation and oversight functions are … effective. The National Payments System in India has undergone a major reform, in particular the securities and derivatives …
Persistent link: https://www.econbiz.de/10011244082
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India’s Recent Macroeconomic Performance: An Assessment and Way Forward
Kapur, Muneesh; Mohan, Rakesh - International Monetary Fund (IMF) - 2014
The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting …
Persistent link: https://www.econbiz.de/10011142116
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Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments
Tressel, Thierry; Wang, Shengzu - International Monetary Fund (IMF) - 2014
The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shedding. There is so far limited evidence of resource re-allocation from non-tradable...
Persistent link: https://www.econbiz.de/10010959477
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France; Selected Issues Paper
International Monetary Fund (IMF); International … - 2013
This Selected Issues paper examines external developments and competitiveness in France. Over the past decade, the current account has deteriorated from a surplus of 1.2 percent of GDP in 2002 to a deficit of about 2.3 percent in 2012, as France lost ground in goods trade and services recorded...
Persistent link: https://www.econbiz.de/10011244236
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Outlook for Interest Rates and Japanese Banks’ Risk Exposures under Abenomics
Arslanalp, Serkan; Lam, Raphael W. - International Monetary Fund (IMF) - 2013
This paper examines how Japan’s long-term interest rates and Japanese banks’ interest rate risk exposures may evolve under Abenomics. Results from a panel regression analysis for major advanced economies shows that long-term government bond yields in Japan are determined to a large extent by...
Persistent link: https://www.econbiz.de/10011142198
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Cambodia; 2007 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2007
This 2007 Article IV Consultation underlies that strong macroeconomic policies have enabled Cambodia to achieve impressive growth and make inroads into poverty. Supported by prudent fiscal and monetary policies that have strengthened the economy’s resilience to shocks, growth has averaged...
Persistent link: https://www.econbiz.de/10011244160
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Sierra Leone: 2013 Article IV Consultation and Request for a Three-Year Arrangement Under the Extended Credit Facility
International Monetary Fund (IMF); International … - 2013
This 2013 Article IV Consultation highlights that Sierra Leone has made significant progress in macroeconomic stabilization over the last five years. Real GDP growth averaged some 7 percent, driven by output expansion in agriculture, mining, and services; as well as the scaling-up of...
Persistent link: https://www.econbiz.de/10011244166
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Nigeria; Second Review Under the Policy Support Instrument: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Nigeria
International Monetary Fund (IMF); International … - 2007
This paper discusses key findings of the Second Review Under the Policy Support Instrument for Nigeria. All assessment criteria through end-September were met except for one civil service-related measure. Remedial measures have prevented the civil service reform program from being compromised....
Persistent link: https://www.econbiz.de/10011244171