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David Ricardo's Theory Comparative Advantage

by Jean Blaise Mimbang, 50 minutes & Dominique Chariot

A practical and accessible guide to understanding the Theory of Comparative Advantage

The motto of the Theory of Comparative Advantage formulated by David Ricardo is: specialize to rule.  In fact, as we all...


But first, let me tweet it

by Mariagiulia Haag

The objective of this work is to demonstrate how the Digital Marketing can actually represent an important economical opportunity for B2B companies and how it should evolve from being just an occasional and...


Tunisia : Request for An Extension of the Stand-By Arrangement-Press Release; and Staff Report

by International Monetary Fund. Midd Dept.

The Executive Board of the International Monetary Fund (IMF) approved on May 11, 2015—the decision was taken without an Executive Board meeting1—a 7 month-extension of Tunisia’s Stand-By Arrangement (SBA)...


Republic of Lithuania : 2015 Article IV Consultation-Press Release; and Staff Report

by International Monetary Fund. Euro Dept.

KEY ISSUES Context and outlook. Lithuania’s economic comeback over the past five years has been impressive. Real GDP has surpassed its previous peak and external and internal imbalances have been corrected....


Republic of Lithuania : Selected Issues

Republic of Belarus : Selected Issues

Republic of Belarus : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Belarus

by International Monetary Fund. Euro Dept.

KEY ISSUES Context: Belarus’ economic model continues to make it highly vulnerable to economic shocks. This was illustrated once more by the turbulence in foreign exchange and debt markets late last year,...


New Energy Sources for Jordan : Macroeconomic Impact and Policy Considerations

by Andrea Gamba

Jordan’s initiatives to reduce its energy dependency could have substantial macroeconomic implications, but will crucially depend on the level of international oil prices in the next decade. Significant uncertainties...


Peru : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru

by International Monetary Fund. West Dept.

KEY ISSUES Context: Peru remains one of the best performing economies in Latin America, with solid macroeconomic fundamentals, strong policy frameworks, and visible gains in poverty reduction. Like most of the...


(Not) Dancing Together : Monetary Policy Stance and the Government Spending Multiplier

by Vincent Belinga & Constant Lonkeng Ngouana

This paper provides estimates of the government spending multiplier over the monetary policy cycle. We identify government spending shocks as forecast errors of the growth rate of government spending from the...


It's Not All Fiscal:Effects of Income, Fiscal Policy, and Wealth on Private Consumption

by Laura Jaramillo & Alexandre Chailloux

We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced...


Republic of Kosovo:2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Republic of Kosovo

by International Monetary Fund. Euro Dept.

KEY ISSUES Context: Following a six-month political stalemate, the largest two parties reached an agreement in December to form a grand coalition, which enjoys a comfortable majority in parliament. The remittances-fueled...


Albania:Fourth Review Under the Extended Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria-Staff Report; an

by International Monetary Fund. Euro Dept.

KEY ISSUES Background: In February 2014, the Executive Board approved a three-year Extended Arrangement with access equivalent to SDR 295.42 million (492.4 percent of quota). So far, three purchases totaling...


Islamic Finance, Consumer Protection, and Financial Stability

by Inutu Lukonga

Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and...


Portugal:Selected Issues Paper

How Large Are Global Energy Subsidies?

by David Coady & Ian W. H. Parry

This paper provides a comprehensive, updated picture of energy subsidies at the global and regional levels. It focuses on the broad notion of post-tax energy subsidies, which arise when consumer prices are below...


Portugal:2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Portugal

by International Monetary Fund. Euro Dept.

EXECUTIVE SUMMARY The recovery is addressing flow imbalances from past current account and fiscal deficits, but stock vulnerabilities from public, private, and external debt remain high. The unemployment rate...


Chad:Poverty Reduction Strategy Paper-Joint Staff Advisory Note on the 2013 Monitoring Report of the National Development Plan 2013-15

by International Monetary Fund. Afri Dept.

OVERVIEW Chad approved its National Development Plan (NDP) for the period 2013-15 in May 2013. The NDP is considered the third poverty reduction strategy for Chad, following the ones adopted for the periods...


Kyrgyz Republic:Request for a Three-Year Arrangement Under the Extended Credit Facility-Staff Report; and Press Release

by International Monetary Fund. Midd Dept.

KEY ISSUES Context. Performance under the previous Extended Credit Facility (ECF) arrangement, which expired last July, was good. Macroeconomic stability was restored, fiscal consolidation was stronger than...


Chad: Enhanced Heavily Indebted Poor Countries Initiative:Completion Point Document And Multilateral Debt Relief Initiative

by International Monetary Fund. Afri Dept.

This paper discusses the status of Chad under Enhanced Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI). Chad does not qualify for topping-up under the Enhanced...