The aim of the paper is to shift the focus of famine analysis away from food supply towards the macroeconomic determinants of food entitlement--i.e., to the ability of individuals to purchase food. Towards this end, we develop a model to demonstrate how loose monetary and fiscal policies may...

Unemployment in South Africa is decomposed into a cyclical and a structural component. The estimates suggest that unemployment is largely structural. Alternative explanations for the persistence of deviations of market wages from full-employment levels are examined. Three models that are...

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...