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Tag Archives: Fiscal Policy

Your Weekend Podcast Roundup

By IMFBlog We may not be commuting as much, but it seems we’re still listening. According to the latest Infinite Dial survey from Edison Research and Triton Digital, the percentage of people listening to podcasts weekly grew 17 percent in 2021. Whether you’re hitting the road this weekend, or re-organizing the kitchen cupboards (again), here’s a list of podcast interviews with some of the brightest minds in economics and development, as selected by our editors at Finance & Development....

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CHART OF THE WEEKPutting Public Investment to Work

By Mariano Moszoro For countries on the path to recovery, reviving economic activity is a major priority. And what better way to support a come-back than by creating jobs. Our new IMF staff research shows that when governments spend on infrastructure, they create many new jobs. Drawing on a 19-year dataset of over 5,600 construction companies from 27 advanced economies and 14 emerging market economies, we use an innovative approach to measure the direct employment effect of $1 million of...

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A Proposal to Scale Up Global Carbon Pricing

By Vitor Gaspar and Ian Parry Between one quarter and one half. That’s how much carbon dioxide (CO2) and other greenhouse gases must fall over the next decade to keep alive the goal of restricting global warming to below 2°C. The fastest and most practical way to achieve this is by creating an international carbon price floor arrangement. Climate change presents huge risks to the functioning of the world’s economies. This matters to the IMF because climate change presents huge risks to...

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The Benefits of Setting a Lower Limit on Corporate Taxation

By Aqib Aslam and Maria Coelho On June 5, 2021, Finance Ministers from the Group of Seven major industrialized nations committed to a global minimum corporate tax rate on multinationals of at least 15 percent. While there are a number of details yet to be hammered out in broader global discussions, this historic agreement heralds an important step forward on the road to international corporate tax reform. It also highlights the role minimum taxes can play at the global level to help reverse...

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CHART OF THE WEEKHow to Reduce COVID-19’s Unequal Effects Across Workers

By Jorge Mondragon and Marina M. Tavares Lower-skilled and young workers were among the hardest hit from the pandemic, suffering job losses in record numbers last year. Some of those jobs may never reappear as economies readjust to a post-pandemic world. Longer-term changes appear likely in terms of the mix of jobs in the economy—some sectors and occupations will permanently shrink, and others will expand. With many unemployed workers still struggling to regain their pre-pandemic salaries and...

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Fit for Purpose—Adapting IMF Advice to a New Economic Landscape

By Fabian Bornhorst and Ceyla Pazarbasioglu عربي, Русский The International Monetary Fund is responding to the policy challenges of a fast-changing global economy still reeling from the COVID-19 crisis: it is modernizing the way it provides its regular policy advice to member countries—a process known as surveillance. The regular health check of members’ economies, known as the Article IV consultations, will continue to cover fiscal, monetary, exchange rate and financial issues, which are at...

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Is the United States Relying on Foreign Investors to Finance Its Bigger Budget Deficit?

Thomas Klitgaard The fiscal packages passed in 2020 and 2021 to help the economy cope with the pandemic caused a dramatic increase in federal government borrowing. One might have expected that foreign investors were important buyers of this new debt, but that was not the case. They were instead net sellers of Treasury securities. Still, the amount of money flowing into the United States increased last year, which helped fund the government’s borrowing, if only indirectly. The...

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Is the United States Relying on Foreign Investors to Finance Its Bigger Budget Deficit?

Thomas Klitgaard The fiscal packages passed in 2020 and 2021 to help the economy cope with the pandemic caused a dramatic increase in federal government borrowing. One might have expected that foreign investors were important buyers of this new debt, but that was not the case. They were instead net sellers of Treasury securities. Still, the amount of money flowing into the United States increased last year, which helped fund the government’s borrowing, if only indirectly. The upturn in...

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Checking the Receipts from Pandemic-Related Spending

By Chady El Khoury, Jiro Honda, Johan Mathisen, and Etienne Yehoue Governments around the world are playing a crucial role in providing lifelines to people and firms to help combat the pandemic and its economic fallout. To support the effectiveness of these efforts, it is important that such spending be subject to adequate transparency and accountability. The IMF presses for better governance through greater transparency. To this end, the IMF has called for ensuring transparency and...

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The Policymaker’s Trilemma

By Abebe Aemro Selassie and Andrew Tiffin 中文, Español, Français, 日本語,  Português, Русский Imagine you’re a policymaker in sub-Saharan Africa. You’ve been charged with lifting your country out of the worst health crisis in living memory, and nobody around you knows when it will end—the second wave that gripped the region earlier in the year has eased, but many countries are nonetheless bracing for further waves as winter approaches. One piece of good news is that a global recovery is well...

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