What’s not to love about free data

By iMFdirect

The IMF has released a new, free online data tool.

You can find all sorts of good stuff: from budget numbers to balance of payments data, debt statistics to critical global indicators.  Good data supports good policy choices. With reliable and timely economic data, people can identify turning points in the economy or see looming risks.

*Wonky Warning* The data platform provides greater dynamic data visualizations, which show development over time and interact with each other. It includes a richer library of statistical tools, such as forecasting, smoothing, and aggregation. The platform strengthens the narrative and analysis of any data and allows users to customize their data experience.

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Promises, Promises. Better Measuring the Effect of Pension Reform

We all hope to retire one day. Our pensions hold the promise of that. Good fiscal policy means thinking about ho w policy decisions—involving long-term promises, such as pensions—affect government finances both today and in the future. With pension reform a priority for so many countries, it is a problem that traditional deficit and debt indicators focus on the health of public finances today, but fail to capture the future impact of pension promises. We propose a new indicator—the “pension-adjusted” budget balance—that can help measure when changes in pension policies are improving or worsening long-term fiscal health. Used as a complement to traditional indicators, this new indicator could help avoid incentives to delay or even reverse pension reforms.

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