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Europe's Growth Challenge

Handbook of Commercial Policy

by Kyle Bagwell & Robert W. Staiger

Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial...

Everyone's Guide to the South African Economy 12th edition

by André|| Roux

Recession, inflation, interest rates, income tax, exchange rates ... We are bombarded with these terms every day - by newspapers, the radio, TV and the internet - but what do they actually mean? And how do they...

Sinews of Power

by Xu Yi-chong

Electricity is a basic requirement for a modern economy, and transmission grids at the center of transition to a low-carbon power system. They are the principal means to integrate large shares of wind and solar...

China's Banking Transformation

OECD Economic Surveys: Indonesia 2016

by Collectif

This 2016 OECD Economic Survey of Indonesia examines recent economic developments, policies and prospects. The special chapters cover: Regional Development and Public Spending.

Tax Capacity and Growth

by Vitor Gaspar & Laura Jaramillo

Is there a minimum tax to GDP ratio associated with a significant acceleration in the process of growth and development? We give an empirical answer to this question by investigating the existence of a tipping...

Political Institutions, State Building, and Tax Capacity

by Vitor Gaspar & Laura Jaramillo

An empirical finding by Gaspar, Jaramillo and Wingender (2016) shows that once countries cross a tax-to-GDP threshold of around 12¾ percent, real GDP per capita increases sharply and in a sustained manner over...

Minimum Wage as a Wage Policy Tool in Japan

by Giovanni, Mr. Ganelli & Chie, Ms. Aoyagi

Using prefectural data, we study the potential impact on wage dynamics of the planned minimum wage increase policy in Japan. Our main result is that stepping up minimum wage growth from 2 to the planned 3 percent...

Quantifying the Spillovers from China Rebalancing Using a Multi-Sector Ricardian Trade Model

by Rui Mano

This paper assesses the spillovers from different facets of China rebalancing using a calibrated Ricardian trade model that includes 41 economies, each consisting of 34 sectors. We find that China's move up...

Tuning in RBC Growth Spectra

by Szilard Benk & Tamas Csabafi

For US postwar data, the paper explains central consumption, labor, investment and output correlations and volatilities along with output growth persistence by including a human capital investment sector and...

When China Sneezes Does ASEAN Catch a Cold?

by Sohrab, Mr. Rafiq

This paper looks at the effects of a China slowdown on Emerging Market Economies (Indonesia, Malaysia, and Thailand) and Frontier Developing Economies (Cambodia, Lao P.D.R., and Vietnam) in ASEAN. The main finding...

Former Yugoslav Republic of Macedonia

by International Monetary Fund. Euro Dept.

This 2016 Article IV Consultation highlights that the economy of the Former Yugoslav Republic of Macedonia has been growing at a solid pace on the back of strong domestic demand and exports. The real GDP is...

Former Yugoslav Republic of Macedonia

by International Monetary Fund. Euro Dept.

This Selected Issues paper quantifies the short- and medium-term growth effects of major ongoing highway and railway projects in the Former Yugoslav Republic of Macedonia. A standard neoclassical growth model...

Global Capitalism in Disarray

Republic of Equatorial Guinea

by International Monetary Fund. Afri Dept.

This Selected Issues paper analyzes macrofinancial linkages in Equatorial Guinea. Insufficient fiscal consolidation in response to falling oil prices and production has translated into arrears accumulation,...

System Priors for Econometric Time Series

by Michal Andrle & Miroslav Plašil

The paper introduces "system priors", their use in Bayesian analysis of econometric time series, and provides a simple and illustrative application. System priors were devised by Andrle and Benes (2013) as a...

Forecast Errors and Uncertainty Shocks

by Sylwia Nowak & Pratiti Chatterjee

Macroeconomic forecasts are persistently too optimistic. This paper finds that common factors related to general uncertainty about U.S. macrofinancial prospects and global demand drive this overoptimism. These...

Fiscal Discipline and Exchange Rates

by João Tovar Jalles & Carlos, Mr. Mulas-Granados

We look at the effect of exchange rate regimes on fiscal discipline, taking into account the effect of underlying political conditions. We present a model where strong politics (defined as policymakers facing...


by International Monetary Fund. Euro Dept.

This 2016 Article IV Consultation highlights that Sweden is enjoying strong economic performance, with real GDP growth heading for about 3.4 percent in 2016 on the heels of an expansion of just over 4 percent...