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Tag Archives: infrastructure

Chart of the WeekHow a Collective Infrastructure Push Will Boost Global Growth

By IMFBlog عربي, 中文, Español, Français, Português, Русский  With vaccines around the corner, there is increased hope that the pandemic could soon be under better control. That said, the need for cooperative efforts to work toward a better future has never been greater. Priority areas relate to the need to produce and distribute vaccines globally, tackle climate change, and bolster the economic recovery from the crisis. An IMF report published ahead of the G20 leaders meeting argues that a...

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Finding the Right Policy Mix to Safeguard our Climate

By IMF Staff عربي, 中文, Español, Français, 日本語, Português, Русский  Unaddressed, climate change will entail a potentially catastrophic human and economic toll, but it’s not too late to change course. Global temperatures have increased by about 1°C since the pre-industrial era because of heat-trapping green-house gases accumulating in the atmosphere. Unless strong action is taken to curb emissions of these gases, global temperatures could increase by an additional 2–5°C by the end of this...

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Using insights from history to answer central questions in urban economics

W. Walker Hanlon and Stephan Heblich in this new NBER WP: This article reviews recent literature using insights from history to answer central questions in urban economics. This area of research has seen rapid growth in the past decade, thanks to new technologies that have made available increasingly rich data stretching far back in time. The focus is to review innovative methods to exploit historical information and discuss applications of these data that provide new insights into (i)...

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Charting a Path for a Resilient Recovery in Sub Saharan Africa

By Kristalina Georgieva and Abebe Aemro Selassie Perhaps first among the many lessons of 2020 is that the notion of so‑called black swan events is not some remote worry. These purportedly once‑in‑a‑generation events are occurring with increasing frequency. Take climate‑related shocks, especially in sub‑Saharan Africa. More than any other region, it is vulnerable to these events because of its heavy dependence on rain‑fed agriculture and its limited ability to adapt to shocks. Every year, the...

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The Macroeconomic Consequences of Infrastructure Investment

Valerie Ramey in this new NBER WP: Can greater investment in infrastructure raise U.S. long-run output? Are infrastructure projects a good short-run stimulus to the economy? This paper uses insights from the macroeconomics literature to address these questions. I begin by analyzing the effects of government investment in both a stylized neoclassical model and a medium-scale New Keynesian model, highlighting the economic mechanisms that govern the strength of the short-run and long-run...

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Fiscal Policies For Women’s Economic Empowerment

By Stefania Fabrizio, Daniel Gurara and Lisa Kolovich Making sure that opportunities to enter the workforce are fair and rewarding for women benefits everyone. Yet, the average female workforce participation rate across countries is still 20 percentage points lower than the male rate, largely because gender gaps in wages and access to opportunities, such as education, stubbornly persist. Our new study finds that fiscal policy choices that address gender equality—such as investing in...

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A Role for Financial and Monetary Policies in Climate Change Mitigation

By William Oman Español July 2019 was the hottest month ever recorded on earth, with countries across the world experiencing record-breaking temperatures. A prolonged drought is affecting millions of people in East Africa, and in August 2019 Greenland lost 12.5 billion tons of ice in one day. A review of the literature by IMF staff aims to spur discussion of what policies to mitigate climate change could or should include. The review suggests that, while fiscal tools are first in line,...

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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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When Disaster Strikes: Preparing for Climate Change

By Seán Nolan and Krishna Srinivasan Earlier this year, Cyclone Idai devastated Mozambique, Malawi, and Zimbabwe by leaving more than 1,000 people dead, thousands more missing, and damages in the billions. These storms were among the recent reminders of how natural disasters can cause severe and catastrophic damage. Natural disasters destroy lives and property and have large and lasting effects on economies by reducing production and increasing debt burdens. They also tend to...

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A Global Picture of Public Wealth

By Jason Harris, Abdelhak Senhadji, and Alexander F. Tieman Español, Português Our new data on government assets shows that when governments know what they own, they can make better use of the assets for the well-being of all their citizens.  We make these data free and publicly available for all to use because we believe transparency can help create better public policy.  The chart shows that advanced economies have larger balance sheets compared to emerging markets and low-income...

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