The Long-Term Impact of Brexit on the European Union

2019-03-13T15:25:22-04:00August 10, 2018|

By Jiaqian Chen, Christian Ebeke, Li Lin, Haonan Qu, and Jesse Siminitz

August 10, 2018

Versions in EspañolFrançaisPortuguês

A container ship entering the Port of Marseille, France: The UK is among the European Union’s largest trading partners, accounting for about 13 percent of its trade in goods and services (photo: Gerard Bottino/Newscom)

When the United Kingdom leaves the European Union, higher barriers […]

Chart of the Week: Top 5 Charts

2019-03-13T15:56:44-04:00July 25, 2018|

By IMFBlog

July 25, 2018

People wait while their electric cars charge, in Xiamen, China (photo: Zhang Guojun/Newscom)

Rank has its privileges, the saying goes.  This week our editors pull rank and pick their favorite charts from our Chart of the Week series.  […]

Game-Changers and Whistle-Blowers: Taxing Wealth

2019-03-15T10:39:51-04:00February 13, 2018|

By James Brumby and Michael Keen

February 13, 2018

Versions in عربي (Arabic), 中文 (Chinese), Español (Spanish),  Français (French), 日本語 (Japanese), Русский (Russian)

New Delhi, India: there are now very few effective explicit wealth taxes in either developing or advanced economies (photo: Jens Kalaene/Corbis).

High and rising income inequality is a serious concern in many countries, as highlighted in the IMF’s recent Fiscal Monitor. Wealth, however, […]

Sluggish Business Investment in the Euro Area: The Roles of Small and Medium Enterprises and Debt

2019-03-26T16:38:29-04:00August 4, 2016|

By John C. Bluedorn and Christian Ebeke

Small businesses could be the lifeblood of Europe’s economy, but their size and high debt are two of the factors holding back the investment recovery in the euro area. The solution partly lies in policies to help firms grow and reduce debt.

Our new study, part of the IMF’s annual economic health check of the euro area, takes a novel bottom-up look at the problem. We analyze the drivers of investment using a large dataset of over six million observations in eight euro area countries, from 2003 to 2013: […]

Imagine What Fiscal Policy Could Do For Innovation

2019-03-27T10:48:09-04:00March 31, 2016|

By Vitor Gaspar and Ruud De Mooij

Versions in عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), Español (Spanish)

Imagine how three-dimensional printing, driverless cars and artificial intelligence will change our future. Or think of how developments in information technology, e-commerce and the sharing economy are already changing the way we learn, work, shop, and travel. Innovation drives progress and, in economic terms, determines productivity growth. And productivity growth, in turn, determines prosperity. It impacts our lives and well-being in fundamental ways: it determines where and how long we live; it determines our quality of life. […]

Fiscal Arrangements in Federations: Four Lessons for Europe

2017-04-14T01:45:59-04:00February 25, 2015|

Martine GuerguilBy Martine Guerguil 

Does the European Union need closer fiscal integration, and in particular a stronger fiscal center, to become more resilient to economic shocks? A new IMF book, Designing a European Fiscal Union: Lessons from the Experience of Fiscal Federations, published by Routledge, examines the experience of 13 federal states to help inform the debate on this issue. It analyzes in detail their practices in devolving responsibilities from the subnational to the central level, compares them to those of the European Union, and […]

Era of Benign Neglect of House Price Booms is Over

2017-04-14T01:59:19-04:00June 11, 2014|

Min ZhuBy Min Zhu

(Versions in  عربيEspañol, 日本語中文, Français, and Русский)

House prices are inching up.  But is this a cause for much cheer?  Or are we watching the same movie again? Recall how after a decade-long boom, house prices started to fall in 2006, first in the United States and then elsewhere, contributing to the 2008-9 global financial crisis. In fact, our research indicates that boom-bust patterns in house prices preceded more […]

The Ties That Bond Us: What Demand For Government Debt Can Tell Us About the Risks Ahead

2017-04-15T14:00:03-04:00January 17, 2013|

It has become apparent in recent years is that advanced economy government bond markets can also experience investor outflows, and associated runs. Our new research shows that advanced economies’ exposure to refinancing risk and changes in government borrowing costs depend mainly on who is holding the bonds— the demand side for government debt. Tracking who owns what, when and for how long can shed some light on potential risks in advanced economies’ government debt markets.

Middle East and North Africa Face Historic Crossroads

2017-04-15T14:00:40-04:00November 27, 2012|

If there is one fact I think sums up the problems of the Middle East and North Africa, it is that the non-oil exports of the whole region, are $365 billion, about the same as the exports of Belgium, a country of 11 million people, compared with the 400 million people who make up the Arab world. This is a crucial indicator of the nature and size of the structural adjustment problem the Arab countries in transition face.
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