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This 2013 Article IV Consultation highlights that on the back of new policy framework, growth in Japan accelerated …
Persistent link: https://www.econbiz.de/10011244552
China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s...
Persistent link: https://www.econbiz.de/10005252521
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
This paper presents an overview of recent U.S. fiscal developments and discusses possible implications of the sharp turn around in the government’s fiscal position. Against this back ground, it also reviews key policy challenges that will need to be addressed to cope with the mounting...
Persistent link: https://www.econbiz.de/10005824863
Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national currency with the euro, but can choose when to request...
Persistent link: https://www.econbiz.de/10005767345
The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union levels. This paper reviews Turkey’s...
Persistent link: https://www.econbiz.de/10005767368
Given its small size and openness, the Icelandic economy has been subject to large shocks. Systematic coordination of monetary and fiscal policy, however, could help improve the inflation-output variability trade-off. The fiscal rule is designed to simultaneously ensure a consistently...
Persistent link: https://www.econbiz.de/10011244896
understanding of and expand research on this topic. Given the importance of the People’s Republic of China, Japan, and the United …
Persistent link: https://www.econbiz.de/10011281409
This paper aims to provide an overview of the basics of Japan's local public administration and finance system and to … analyze how Japan's municipalities restore their fiscal balance after a fiscal shock. In Japan, local governments play a major … large vertical fiscal gap in Japan between the central and local governments - a gap that necessitates the transfer of funds …
Persistent link: https://www.econbiz.de/10011557018
This Selected Issues paper examines implications for long-term bond yields in case of Japan. The analysis finds that so …
Persistent link: https://www.econbiz.de/10011245208