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The U.K. financial sector is globally systemic, open, and complex. It has weathered the COVID-19 pandemic fittingly, thanks to the post-GFC reforms, a proactive macroprudential stance, and an effective multipronged response to maintain financial stability. Brexit uncertainties are being handled...
Persistent link: https://www.econbiz.de/10013168903
This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model features a forward-looking benevolent government that needs to decide the optimal fiscal stance given the level of public debt, the cyclical position of the economy, and...
Persistent link: https://www.econbiz.de/10012108360
The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed...
Persistent link: https://www.econbiz.de/10013169066
This note provides an update and assessment of developments in insurance supervision since 2014. It is part of the 2020 …, 2019. It has not been updated for the impact of recent global events associated with the COVID-19 pandemic. The insurance … sector is large, especially long-term (life) insurance, highly international and has been growing steadily. The long …
Persistent link: https://www.econbiz.de/10012604079
This paper provides an assessment of the insurance sector in the United Kingdom. The United Kingdom has one of the … deepest, most developed insurance markets in the world. Insurance penetration is 50 percent higher than in the European Union … or other advanced economies, and the expenditure per capita in insurance amounts to USD 5,429 as compared with USD 3 …
Persistent link: https://www.econbiz.de/10011675319
Sweden entered the pandemic with substantial buffers and suffered a relatively shallow recession in 2020. The decline … in output was moderated by substantial income and liquidity support as well as structural features of the economy. Sweden …
Persistent link: https://www.econbiz.de/10012516744
Persistent link: https://www.econbiz.de/10012516746
Pre-pandemic, Bosnia and Herzegovina's (BiH) economy was growing, but at a pace below the more successful countries in Eastern Europe. The pandemic generated a substantial output contraction in 2020. Early in the pandemic, the authorities successfully implemented restrictions to prevent the...
Persistent link: https://www.econbiz.de/10012516478
The pandemic dealt a severe blow to the Italian people and their economy. GDP fell by nearly 9 percent in 2020, with much larger drops for contact-intensive services. Public and corporate debt increased strongly and preexisting vulnerabilities have likely worsened. The government is prioritizing...
Persistent link: https://www.econbiz.de/10012604038
Hong Kong SAR (HKSAR) is a small and open economy, and a major international financial center with extensive linkages to Mainland China. Over the past two years, Hong Kong SAR's economy and financial sector were adversely impacted by domestic social unrest, US-China tensions, and the global...
Persistent link: https://www.econbiz.de/10012604066