Chart of the WeekWaste Woes in the World

2021-05-13T12:56:12-04:00January 31, 2020|

By IMFBlog

Have you thought about how much garbage you generate every day? Economists have looked at the data and it turns out that higher-income countries like the United States, Denmark, and New Zealand generate at least twice as much waste per capita than developing countries. […]

Adapting to Climate Change—Three Success Stories

2019-03-14T13:42:52-04:00March 20, 2018|

By Evgenia Pugacheva and Mico Mrkaic

March 20, 2018

When governments subsidize private investment in adaptation, the economic costs of extreme weather events can be reduced (photo: Leolintang/iStock by Getty Images).

Climate change is one of the greatest threats facing our planet. Its negative effects on health, the biosphere, and labor productivity are already being felt throughout the world. Aware of the danger, communities, households, and governments have started taking measures to reduce their exposures and vulnerability to weather shocks and climate change. Our study in the World Economic Outlook shows that public investment in adaptation can partially reduce the economic costs of severe weather events.   […]

Welfare Versus GDP: What Makes People Better Off

2019-03-15T09:46:00-04:00March 7, 2018|

By Geoffrey Bannister and Alexandros Mourmouras

March 7, 2018

Oslo, Norway. In rich countries like Norway, that have greater life expectancy, more leisure, and lower inequality, measured well-being is higher than income (photo: iStock by Getty Images).

For years, economists have worked to develop a way of measuring general well-being and comparing it across countries. The main metric has been differences in income or gross domestic product per person. But economists have long known that GDP is an imperfect measure of well-being, counting just the value of goods and services bought and sold in markets.

The challenge is to account for non-market factors such as the value of leisure, health, and home production, such as cleaning, cooking and childcare, as well as the negative byproducts of economic activity, such as pollution and inequality. […]

Chart of the Week: Inequality and the Decline in Labor Share of Income

2019-03-26T09:49:42-04:00March 20, 2017|

By IMFBlog

As discussed in the IMF’s G20 Note, and a blog last week by IMF Managing Director Christine Lagarde, a forthcoming chapter of the World Economic Outlook seeks to understand the decline in the labor share of income (that is, the share of national income paid in wages, including benefits, to workers) in many countries around the world. These downward trends can have potentially large and complex social implications, including a rise in income inequality.  […]

A Tale of Two States—Bringing Back U.S. Productivity Growth

2017-04-14T01:54:40-04:00September 25, 2014|

By Roberto Cardarelli and Lusine Lusinyan 

(Versión en español)

Today’s Pop Quiz: What do Oregon and New Mexico have in common? What could possibly link the spectacular vistas of Crater Lake to the glistening White Sands?

Answer: One link is these two states have the highest share of computer and electronic production in the entire United States. Think Intel in the Silicon Forest or Los Alamos. They also rank similarly in information technology usage by their businesses.

For Crater Lake: (photo: Eye Ubiquitous/Newscom)    For White Sands: (photo: Eye Ubiquitous/Newscom)

[…]

China: Fastest Growing Consumer Market in the World

2017-04-14T02:13:27-04:00December 2, 2013|

Steve BarnettBy Steven Barnett

(Version in 中文)

It’s the season for shopping. We have Cyber Monday in the United States and Singles Day in China (November 11 or 11/11). So, while we are pondering shopping, try to guess which consumer market is growing the fastest. The answer is…China!

China had the largest consumption increase in the world. This was true in 2011, true in 2012, and likely to be true again this year (see chart). Consumption in China is also generally thought to be weak. Indeed, the government and the IMF are calling for more consumer-based growth. How could consumption, in effect, be both weak and strong at the same time?

[…]

China’s Growth: Why Less is More

2017-04-14T02:15:23-04:00October 29, 2013|

Steve BarnettBy Steven Barnett

(Version in 中文)

Less growth in China today will mean higher income in the future. So rather than worry, we should welcome the slowdown in China’s economy. Why? Because by favoring structural reforms over short-term stimulus, China’s leadership is illustrating their commitment to move to a more balanced and sustainable growth model.

[…]

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