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Tag Archives: OECD

Chart of the WeekCorruption and Your Money

By IMFBlog The costs of corruption run deep. Your taxpayer dollars are lost in different ways, siphoned off from schools, roads, and hospitals to line the pockets of people up to no good. Equally damaging is the way it corrodes the government’s ability to help grow the economy in a way that benefits all citizens. And no country is immune to corruption. Our Chart of the Week from the Fiscal Monitor analyzes more than 180 countries and finds that more corrupt countries collect fewer taxes,...

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Tackling Income Inequality Requires New Policies

By IMFBlog Español, Português The hollowing out of the middle class, rising social and political tension, lack of education, globalization, and rapid technological change are just a few of the many drivers of growing income inequality. “Inclusive growth is one of the critical challenges of our time,” IMF Managing Director Christine Lagarde said at a recent event on income inequality at the IMF Spring Meetings. “The bitter-sweet reality is that despite economic growth there are...

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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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Chart of the Week: Trade’s Impact on Brazil’s Industries

By Antonio Spilimbergo (Español, Português) Brazil’s economy is very closed, and the government is working to open the country to more trade. Currently, Brazil’s trade flows—exports plus imports—average a minimal 25 percent of its GDP—making the country one of the least open amongst G20 countries. As this chart of the week shows, from a chapter by Goés et al. in our book Brazil: Boom, Bust, and the Road to Recovery, we use a heatmap to divide the country into 558 regional groups to...

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Cashing In: How to Make Negative Interest Rates Work

By Ruchir Agarwal and Signe Krogstrup Many central banks reduced policy interest rates to zero during the global financial crisis to boost growth. Ten years later, interest rates remain low in most countries. While the global economy has been recovering, future downturns are inevitable. Severe recessions have historically required 3–6 percentage points cut in policy rates. If another crisis happens, few countries would have that kind of room for monetary policy to respond. To get around...

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The Uneven Path Ahead: The Effect of Brexit on Different Sectors in the UK Economy

By Jiaqian Chen December 4, 2018 中文, Русский A UK border agency worker holds a passport: As a member of the European Union, free labor mobility has enabled the UK to hire talent from across the EU (photo: Mac Gregor/Reuters/Newscom) The United Kingdom is set to leave the European Union in March 2019. Our research suggests that all likely Brexit outcomes will entail an economic cost for the UK, and these costs would be unevenly spread across different sectors and regions. The UK’s...

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A Planet at Risk Requires Multilateral Action

Signe Krogstrup and Maurice Obstfeld  December 3, 2018 Español, Português A wolf in the snow: the planet isn’t crying wolf as man’s economic activities reach a scale where the global climate is at risk (photo: ImageBroker/ David MichaSheldon/Newscom) The COP-21 Paris Agreement limiting greenhouse gas emissions was a major achievement on the road to meeting the threat of climate change. But as the evidence becomes increasingly unambiguous that human activity is destabilizing the...

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Lasting Effects: The Global Economic Recovery 10 Years After the Crisis

By Wenjie Chen, Mico Mrkaic, and Malhar Nabar October 3, 2018 عربي,中文, Español, Français, Baˈhasa indoneˈsia, Português, Русский Woman cleaning in Berlin, Germany: the 2008 global financial crisis has had long-lasting effects on economic growth (photo: Caro/Olaf Jandke/Newscom) In the year following the 2008 financial crisis, economic activity declined in half of all countries in the world. Our analysis in Chapter 2 of the October World Economic Outlook shows that in many countries...

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Chart of the Week: Inequality in China

By Sonali Jain-Chandra September 20, 2018 中文, 日本語 A gardener outside a luxury auto showroom in Beijing. China has moved from being moderately unequal in 1990 to being one of the world’s most unequal countries (photo: Stephen Shaver/UPI/Newscom) More than two decades of spectacular economic growth in China have raised incomes dramatically and lifted millions of people out of poverty. But growth hasn’t benefited all segments of the population equally. In fact, China has moved from being...

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Chart of the Week: Equal Pay Remains a Global Issue

By IMFBlog August 6, 2018 Versions in عربي, 中文,  Español, Français, 日本語, Português, Русский  The G7 countries, which are committed to the need for closing the gender gap, have a wage gap average of about 16 percentage points (photo: iStock by GettyImages).   In the battle for the parity of the sexes, some countries have made progress in reducing inequality—such as in access to health care, education, and financial services—but worldwide, men still have more economic...

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