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How Do Member Countries Receive IMF Policy Advice : Results from a State-of-the-Art Sentiment Index

Fayad, Ghada; Huang, Chengyu; Shibuya, Yoko; Zhao, Peng - 2020

This paper applies state-of-the-art deep learning techniques to develop the first sentiment index measuring member countries' reception of IMF policy advice at the time of Article IV Consultations. This paper finds that while authorities of member countries largely agree with Fund advice, there...

Persistent link: https://www.econbiz.de/10012840599

The Algebraic Galaxy of Simple Macroeconomic Models : A Hitchhiker's Guide

Tanner, Evan - 2017

Simple macroeconomic frameworks like the IS/LM have survived because they help us conceptualize complex problems while also providing ‘back of the envelope' estimates of macroeconomic outcomes. Herein, a bare-bones New Keynesian extension of the IS/LM model yields solutions for core macro...

Persistent link: https://www.econbiz.de/10012950427

Jobs Impact of Green Energy

Kim, Jaden Jonghyuk; Mohommad, Adil - 2022

This brief paper accompanies the Green Energy and Jobs tool, which is a simple excel-based tool to estimate the job-creation potential of greening the electricity sector. Specifically, it calculates the net job gains or losses from increasing the level of energy efficiency, and from increasing...

Persistent link: https://www.econbiz.de/10014082661

Small and Vulnerable : Small Firm Productivity in the Great Productivity Slowdown

Chen, Sophia; Lee, Do Q - 2021

We provide broad-based evidence of a firm size premium of total factor productivity (TFP) growth in Europe after the Global Financial Crisis. The TFP growth of smaller firms was more adversely affected and diverged from their larger counterparts after the crisis. The impact was progressively...

Persistent link: https://www.econbiz.de/10013250069

Financial Frictions and the Great Productivity Slowdown

Duval, Romain - 2017

We study the role of financial frictions in explaining the sharp and persistent productivity growthslowdown in advanced economies after the 2008 global financial crisis. Using a rich cross-country,firm-level data set and exploiting quasi-experimental variation in firm-level exposure to the...

Persistent link: https://www.econbiz.de/10012950421

Should We Fear the Robot Revolution? (The Correct Answer is Yes)

Berg, Andrew - 2018

We may be on the cusp of a 'second industrial revolution' based on advances in artificialintelligence and robotics. We analyze the implications for inequality and output, usinga model with two assumptions: 'robot' capital is distinct from traditional capital in itsdegree of substitutability with...

Persistent link: https://www.econbiz.de/10012913912

Two-Sided Market, R&D and Payments System Evolution

Li, Bin (Grace) - 2019

It takes many years for more efficient electronic payments to be widely used, and the fees thatmerchants (consumers) pay for using those services are increasing (decreasing) over time. Weaddress these puzzles by studying payments system evolution with a dynamic model in a twosidedmarket setting....

Persistent link: https://www.econbiz.de/10012888773

International Knowledge Spillovers

Eugster, Johannes L. - 2019

How important is foreign knowledge for domestic innovation outcomes? How is this relation shaped by globalization and … barriers to the domestic diffusion of foreign knowledge have fallen significantly for emerging economies. For all countries …, and especially for emerging economies, inflows of foreign knowledge have a growing and quantitatively important impact on …

Persistent link: https://www.econbiz.de/10012892917

Stay Competitive in the Digital Age : The Future of Banks

Liu, Estelle Xue - 2021

The latest advancement in financial technology has posed unprecedented challenges for incumbent banks. This paper analyzes the implications of these challenges on bank competitveness, and explores the factors that could support digital advancement in banks. The analysis shows that the...

Persistent link: https://www.econbiz.de/10013226448

Fair and Inclusive Markets : Why Dynamism Matters

Aghion, Philippe; Chérif, Réda; Hasanov, Fuad - 2021

We show empirical evidence that there may not be a tradeoff between market income inequality and high sustained growth, which is key for poverty alleviation. We argue that the economies that achieved high sustained growth and low market income inequality are characterized by dynamism-a drive...

Persistent link: https://www.econbiz.de/10013243057