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Tag Archives: inequality

Illuminating Dark Corners of the Global Economy

Gita Bhatt This issue of Finance & Development reminds me of a Sufi parable. A woman sees a mystic searching for something outside his door. “What have you lost?” she asks. “My key,” he responds. So they both kneel down to look for it. “Where exactly did you drop it?” she asks after a few minutes. “In my house,” he replies. “Then why are you looking here?” “Because there is more light.” The lesson: we all search for answers where it is easiest to look. That is why we decided to shine a...

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Taming the Currency Hype

By Gustavo Adler, Luis Cubeddu, and Gita Gopinath Escalating trade tensions are taking a toll on the global economy and are partly responsible for the recent downward revisions to our growth forecasts for 2019-20. Facing sluggish growth and below-target inflation, many advanced and emerging market economies have appropriately eased monetary policy, yet this has prompted concerns over so-called beggar-thy-neighbor policies and fears of a currency war. In this blog post, we discuss the...

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Did the Value of a College Degree Decline during the Great Recession?

Rajashri Chakrabarti, Michelle Jiang, and William Nober In an earlier post, we studied how educational attainment affects labor market outcomes and earnings inequality. In this post, we investigate whether these labor market effects were preserved across the last business cycle: Did students with certain types of educational attainment weather the recession better? Focusing on students’ labor market outcomes during 2003-14 (a period that spans both a boom and a bust), we hope...

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To Reduce Inequality, Employ Young People

Burcu Hacibedel and Priscilla Muthoora Español, Português Rising economic growth has reduced inequality in low-income and emerging market countries over the years. In good economic times, young people working helps reduce inequality in both groups of countries. But when growth slows down and jobs are lost, more young people out of work in low-income countries leads to a rise in inequality.  In emerging markets, the story is a bit different and we’ll explain why. The results in our...

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Corporate Taxation in the Global Economy

By Christine Lagarde The public perception that some large multinational companies pay little tax has led to political demands for urgent action. It is not difficult to see why.  Let me highlight three reasons why a new approach to international corporate taxation is urgent. First, the ease with which multinationals seem able to avoid tax, and the three-decade long decline in corporate tax rates, undermines faith in the fairness of the overall tax system. Second, the current situation is...

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A Global Imperative

By Christine Lagarde March 8 marks International Women’s Day, which provides a chance to reflect on the struggle for greater gender equality. The roots of this annual event reach back more than a century, yet its focus on respect and opportunities for women remains strikingly relevant today—from sexual harassment and violence to unequal laws and unfairness in the workplace, where women are too often underemployed, underpaid, and underpromoted. Unequal or unfair treatment can marginalize...

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Do the Math: Include Women in Government Budgets

Zohra Khan and Lisa Kolovich Español, Português Every day, women around the world experience less opportunity than men in education and employment, and less political representation. While many countries recognize the need for gender equality and women’s empowerment, governments can structure spending and taxation in ways to advance gender equality even further—a process called gender budgeting. Overall, gender budgeting can make a real difference in people’s lives. A United Nations...

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How Much Should You Save for Retirement?

By David Amaglobeli, Era Dabla-Norris, and Vitor Gaspar عربي,  Français, 日本語 How much you need to save for retirement depends on your country’s pension system. Our new research focuses on the interaction between saving and pension systems in an aging world. We use data from 80 countries to map public (government) and private savings in countries over the next 30 years, given their aging populations and the design of pension systems. We find that trends in private saving drive the...

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Top 10 Charts of the Week for 2018

By IMFBlog January 7, 2019 Looking ahead (photo: Newsis/Reuters/Newscom) A picture is worth a thousand words.  The portraits of the global economy in our Chart of the Week series have proven a hit, and to help you start the year with just the right facts and figures, we have pulled together your top reads of 2018.  Here are the top ten charts of the week for 2018, based on your readership. 5 Charts That Explain the Global Economy in 2018 Chart of the Week: Government Debt Is Not...

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Chart of the Week: Mexico’s Spike in Crime Hurts the Economy

By Christian Saborowski December 18, 2018 (Español, Português) A woman sells street food at a market stall in Mexico City, Mexico: the country’s spike in crime is hurting small businesses’ profitability (photo: Jonah_Photos/iStock) The human and economic costs of crime in Mexico have risen to historic highs. 2017 was Mexico’s most violent year on record with over 25,000 homicides—a 50 percent jump since 2015. Economists usually distinguish direct and indirect costs associated with...

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