Description : Emerging market financial crises during the late 1990s were marked by sudden withdrawals of funds by foreign creditors, resulting in production declines. The IMF favored positive signals to potential foreign creditors and initially recommended disciplined fiscal policy during the height of crisis, countering standard Keynesian recommendations of expansionary fiscal stimulus. This paper formulates an open-economy general equilibrium model for resolving this policy conundrum and analyzing the impact of disciplined fiscal policy on post-crisis recovery. The model demonstrates via simulations that disciplined fiscal policy will improve (worsen) post-crisis recovery in the presence (absence) of appropriately defined production flexibility.
Description : Hundreds of Bible based articles to increase your knowledge and awareness of the contents of the Bible and the expectations of God.
Description : Murilo Portugal, Agustin Carstens, Kyrgyz Republic, HIPC, central Asia, Indonesian debt, Saudi Arabian economy, Peter Kenen, European Central Bank, ECB, Danish economy, flexicurity,Burundi's economy, aid volatility, Indian and China, Doing Business.
Description : Does policy conditionality worsen domestic welfare, as governments are forced to attempt unpopular reforms resulting in damaging protests, or does conditionality help implement reforms that otherwise would have been impossible? This paper analyzes these questions. Using a game-theoretic framework, it argues that the impact of conditional aid on welfare is nonmonotonic. Sufficiently conditioned aid can enhance the signaling power of reform announcements, thereby deterring protest and enabling reform. In contrast, inadequately conditioned aid may induce a "weak" government to mistakenly attempt reform, resulting in protest and a worsening of domestic welfare relative to the status quo.
Description : In an ideal world, primary education would be universal and publicly financed, and all children would be able to attend school regardless of their parents’ ability or willingness to pay. In many poor countries, however, governments lack either the financial resources or the political will to provide each child with a basic education, despite the benefits that would accrue not only to individuals but to society as a whole. In some of these countries, parents cover part or all of the cost of their children’s education. This paper explores the pros and cons of user payments.
Description : The Business of ePublishing 2015 Edition explains in thorough detail what professional publishers, designers, and traditional, independent, and hybrid authors need to know about the world and business of digital publishing in 2015 and beyond. It goes beyond the rhetoric and paranoid proclamations rampant in social media, blogs, and news outlets to provide provable, unbiased insight into the users, devices, formats, and real world economics of ebooks, fixed-layout ebooks, digital textbooks, digital magazines, and more for all levels of publishing—enterprise, small- to medium-sized publishers, indies, and self-publishers. Whether you are an aspiring self-publisher or the CEO of a major publishing house, a freelance designer or sales person, this book provides you with the insight, background, statistics, figures, and examples to help you make sense of the business, economic, and marketing concerns of epublishing, and help you plot your future for a successful year in digital publishing. Whether your intent is to sell yourself, your boss, or your clients, or if you just want to educate yourself about the realities of the world of epublishing, you’ll find in this book a cornucopia of important, relevant data.
Description : This paper examines the regional distribution of public employment in Italy and documents two sets of facts. The first is the use of public employment as a subsidy from the North to the less wealthy South. We calculate that about half of the wage bill in the South of Italy can be identified as a subsidy, with both the size of public employment and wage levels used as a redistributive device. The second set of facts concerns the negative effects of subsidized public employment on individuals’ attitudes toward job search, education, and “risk-taking” activities. We conclude that heavy reliance on public employment distorts incentives and discourages the development of market activities in the South.
Description : The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF, and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.