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Regional Economic Outlook, April 2019, Sub-Saharan Africa

Recovery Amid Elevated Uncertainty

The economic recovery in sub-Saharan Africa is expected to continue, but at a slower pace than envisaged in October 2018.

World Economic Outlook, April 2019

Growth Slowdown, Precarious Recovery

The global economic expansion decelerated in the second half of 2018 with global growth projected to slow to 3.3 percent in 2019, with risks to future growth on the downside.

Global Aging and Fiscal Policy with International Labor Mobility
			: A Political Economy Perspective

Global Aging and Fiscal Policy with International Labor Mobility : A Political Economy Perspective »

Volume/Issue: 2005/140

Series: IMF Working Papers

Author(s): Mehmet Tosun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

DOI: http://dx.doi.org/10.5089/9781451861594.001

ISBN: 9781451861594

Keywords: population aging, overlapping generations, endogenous fiscal policy, international labor mobility, international capital mobility, aging, labor mobility, social security, labor migration, Economic Growth of Open Economies

This paper uses an overlapping generations model with international labor mobility and a politically responsive fiscal policy to examine aging in developed and developing regions. Migrant workers change the politic...

Harnessing Resource Wealth for Inclusive Growth in Fragile States

Harnessing Resource Wealth for Inclusive Growth in Fragile States »

Volume/Issue: 2015/25

Series: IMF Working Papers

Author(s): Corinne Delechat , John Clark JR , Pranav Gupta , Malangu Kabedi-Mbuyi , Mesmin Koulet-Vickot , Carla Macario , Toomas Orav , Manuel Rosales Torres , Rene Tapsoba , Dmitry Zhdankin , and Susan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2015

DOI: http://dx.doi.org/10.5089/9781498392570.001

ISBN: 9781498392570

Keywords: fragile states, revenue, investment, poverty, public investment, safety nets, Macroeconomic Analyses of Economic Development, Fiscal and Monetary Policy in Development, One, Two

Like other fragile sub-Saharan African countries, Côte d'Ivoire, Guinea, Liberia, and Sierra Leone are seeking to harness their natural resource potential in the context of ambitious development strategies. This st...

How Important is the Global Financial Cycle? Evidence from Capital Flows

How Important is the Global Financial Cycle? Evidence from Capital Flows »

Volume/Issue: 2017/193

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Stijn Claessens , and Andrew Rose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2017

DOI: http://dx.doi.org/10.5089/9781484316603.001

ISBN: 9781484316603

Keywords: Capital flows, Globalization, Monetary policy, Financial cycles, Panel analysis, Cross-country analysis, Capital market volatility, empirical; data; center; country; panel; fit; VIX; equity; bonds; FDI; credit, empirical, data

This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional...

Redistribution Through Public Employment
			: The Case of Italy

Redistribution Through Public Employment : The Case of Italy »

Volume/Issue: 1999/177

Series: IMF Working Papers

Author(s): Stephan Danninger , Alberto Alesina , and Massimo Rostagno

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1999

DOI: http://dx.doi.org/10.5089/9781451858853.001

ISBN: 9781451858853

Keywords: Public Employment, Redistribution of Income, Public Policy and Economic Behavior of Agents, employment, unemployment, work experience, job search

This paper examines the regional distribution of public employment in Italy and documents two sets of facts. The first is the use of public employment as a subsidy from the North to the less wealthy South. We calcu...

Subsidy Reforms and Poverty Alleviation

Subsidy Reforms and Poverty Alleviation »

Volume/Issue: 2001/126

Series: IMF Working Papers

Author(s): Chandra Bhambhri , and Parkash Chander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 September 2001

DOI: http://dx.doi.org/10.5089/9781451854909.001

ISBN: 9781451854909

Keywords: subsidy, reforms, quality, deadweight loss, budgetary constraints, fiscal savings, fiscal balance, Consumer Economics: Theory, Publicly Provided Private Goods, Fiscal Policies And Behavior Of Economic Agents

This paper presents a general framework for characterizing the optimal pattern of subsidies for poverty alleviation under budgetary constraints and suggests possible reforms for the existing pattern of subsidies. T...

Tanzania's Growth Process and Success in Reducing Poverty

Tanzania's Growth Process and Success in Reducing Poverty »

Volume/Issue: 2005/35

Series: IMF Working Papers

Author(s): Volker Treichel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

DOI: http://dx.doi.org/10.5089/9781451860542.001

ISBN: 9781451860542

Keywords: Growth, macroeconomic policies in developing countries, per capita income, growth rate, economic growth, growth rates, tfp, Economic Development: General, Fiscal and Monetary Policy in Development, Economic Growth and Aggregate Productivity: General

Since 1995, Tanzania has made major progress in economic reform and macroeconomic stabilization, resulting in strong growth and low inflation. This paper reviews Tanzania's growth performance and prospects and asse...

Tax Reform and Debt Sustainability in Germany
			: An Assessment Using the Global Fiscal Model

Tax Reform and Debt Sustainability in Germany : An Assessment Using the Global Fiscal Model »

Volume/Issue: 2007/46

Series: IMF Working Papers

Author(s): Dennis Botman , and Stephan Danninger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2007

DOI: http://dx.doi.org/10.5089/9781451866100.001

ISBN: 9781451866100

Keywords: VAT, tax reform, spillover effects, global fiscal model, taxation, fiscal adjustment, tax base, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation, Subsidies, and Revenue: General

In 2005, the German government announced a far-reaching fiscal adjustment program. This paper uses the IMF’s Global Fiscal Model to study its impact and explores options for addressing long-term pressures fr...

The Elusive Quest for Inclusive Growth
			: Growth, Poverty, and Inequality in Asia

The Elusive Quest for Inclusive Growth : Growth, Poverty, and Inequality in Asia »

Volume/Issue: 2013/152

Series: IMF Working Papers

Author(s): Ravi Balakrishnan , Chad Steinberg , and Murtaza Syed

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2013

DOI: http://dx.doi.org/10.5089/9781475531169.001

ISBN: 9781475531169

Keywords: Inequality, Labor Market, pro-poor, gini, income distribution, Personal Income and Wealth Distribution, Government Policy and Regulation, General, Macroeconomic Analyses of Economic Development,

This paper assesses how pro-poor and inclusive Asia’s recent growth has been, and what factors have been driving these outcomes. It finds that while poverty has fallen across the region over the last two dec...

The End of An Era? the Medium- and Long-Term Effects of the Global Crisison Growth in Low-Income Countries

The End of An Era? the Medium- and Long-Term Effects of the Global Crisison Growth in Low-Income Countries »

Volume/Issue: 2010/205

Series: IMF Working Papers

Author(s): Chris Papageorgiou , Andrew Berg , Catherine Pattillo , and Nicola Spatafora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

DOI: http://dx.doi.org/10.5089/9781455205363.001

ISBN: 9781455205363

Keywords: Global financial crisis, low-income countries, medium- and long-term growth, impulse response functions, growth spells, panel growth regressions, terms of trade, pre-crisis, post-crisis growth, exchange rate regime

This paper investigates the medium- and long-term growth effects of the global financial crises on Low-Income Countries (LICs). Using several methodological approaches, including impulse response function analysis,...

The Global Integrated Monetary and Fiscal Model (GIMF) - Theoretical Structure

The Global Integrated Monetary and Fiscal Model (GIMF) - Theoretical Structure »

Volume/Issue: 2010/34

Series: IMF Working Papers

Author(s): Douglas Laxton , Susanna Mursula , Michael Kumhof , and Dirk Muir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

DOI: http://dx.doi.org/10.5089/9781451962734.001

ISBN: 9781451962734

Keywords: Fiscal Policy Rules, Monetary Policy Rules, Multi-Region DSGE Models, Overlapping Generations Households, Liquidity Constrained Households, Financial Accelerator, Macro-Financial Linkages, Raw Materials Sector, investment goods, fiscal stimulus

This working paper presents a comprehensive overview of the theoretical structure of the Global Integrated Monetary and Fiscal Model (GIMF), a multi-region dynamic general equilibrium model that is used by the IMF...