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Tag Archives: OECD

Global Policy Responses to Capital Flow Volatility

By Annamaria De Crescenzio, Annamaria Kokenyne, Dennis Reinhart, and Julia Schmidt The COVID-19 health and economic crisis has once again focused attention on the fickleness of capital flows and the need to have an adequate policy toolkit to manage the risks that stem from these flows, while maximizing their benefits. A virtual workshop organized by the Bank of England, Banque de France, International Monetary Fund and the Organization for Economic Co-operation and Development (OECD)...

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How Governments Can Create a Green, Job-rich Global Recovery

By Kristalina Georgieva and Rajiv J. Shah عربي, 中文, Français, 日本語, Português, Русский  Climate change and the COVID-19 crisis have a great deal in common. Both are human tragedies and economic catastrophes: The pandemic has taken more than a million lives, thrown hundreds of millions out of work, and is projected to wipe out $28 trillion in output over the next five years; climate change’s effects, meanwhile, are upending lives and livelihoods. Both crises are most devastating for...

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Chart of the WeekAging Economies May Benefit Less from Fiscal Stimulus

By Jiro Honda and Hiroaki Miyamoto In the midst of the current COVID-19 pandemic, policymakers around the world are undertaking fiscal stimulus—a combination of spending increases and tax reductions—to support their economies. Even before the present crisis, the importance of fiscal policy has been increasing, with monetary policy constrained by near-zero interest rates. Our new staff research finds that age also matters when considering fiscal stimulus. Specifically, we find that...

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Keeping Economic Data Flowing During COVID-19

By Louis Marc Ducharme, James Tebrake, and Zaijin Zhan عربي, 中文 Accurate and timely economic data are crucial for informing policy decisions, especially during a crisis. But the COVID-19 pandemic has disrupted the production of many key statistics. Without reliable data, policymakers cannot assess how badly the pandemic is hurting people and the economy, nor can they properly monitor the recovery. We are working with member countries and other international agencies to address these data...

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Finding Solid Footing for the Global Economy

By Kristalina Georgieva As the Group of Twenty industrialized and emerging market economies (G-20) finance ministers and central bank governors gather in Riyadh this week, they face an uncertain economic landscape. After disappointing growth in 2019, we began to see signs of stabilization and risk reduction, including the Phase 1 U.S.-China trade deal. In January, the IMF projected growth to strengthen from 2.9 percent in 2019 to 3.3 percent in 2020 and 3.4 percent in 2021. This projected...

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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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Chart of the WeekWaste Woes in the World

By IMFBlog Have you thought about how much garbage you generate every day? Economists have looked at the data and it turns out that higher-income countries like the United States, Denmark, and New Zealand generate at least twice as much waste per capita than developing countries. Our chart of the week from recent research shows which advanced economies generate just how much waste per person. Higher-income people not only consume more goods overall, but they also use up a higher...

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Chart of the week The Global Informal Economy: Large but On The Decline

By Thomas F. Alexander Español The informal economy, which is economic activity that falls outside the regulated economy and tax system, such as street vending or unregistered taxi drivers, is hard to measure. People and companies engaged in the informal economy usually operate on a small scale. This means there are no official statistics on the informal or shadow economy, as it’s sometimes called, so economists need to estimate its size. Some common techniques include surveys or indirect...

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Chart of the weekCorporate Tax Rates: How Low Can You Go

By IMFBlog In life, two things are certain: death and taxes, the saying goes. Unless you are a large multinational corporation, in which case, maybe not.  Over the past 30 years, corporate tax rates in all countries have fallen to very low levels, as we show in our chart of the week. This is a problem on several fronts and is one of the reasons why a new approach to international corporate taxation is urgent. First, the ease with which multinationals seem able to avoid tax, combined with...

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Chart of the weekTrade Balances Mostly Driven by Economic Forces, Not Tariffs

By IMFBlog Español, Português Over the past two decades, most of the changes in bilateral trade balances—the difference in the value of exports and imports between two countries—were explained by macroeconomic factors, according to IMF research. These factors include fiscal policy, demographics, and weak domestic demand. They may also include exchange rate policies and domestic supply-side policies, like subsidies to state-owned enterprises or to export sectors. In contrast, changes in...

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