Sharing the Gains of Automation: The Role of Fiscal Policy
Careful calibration of spending and tax policies can reduce inequality caused by automation.
Fiscal Policy for an Uncertain World
As public debt rises to record levels, countries need to calibrate fiscal policies to their own unique circumstances.
When It Comes to Public Finances, Credibility Is Key
Raphael Espinoza, Vitor Gaspar, and Paolo Mauro
Ending the health crisis and addressing its immediate fallout remains the top priority, but governments would also benefit from committing to fiscal responsibility.
The Policymaker’s Trilemma
By Abebe Aemro Selassie and Andrew Tiffin
中文, Español, Français, 日本語, Português, Русский
Imagine you’re a policymaker in sub-Saharan Africa. You’ve been charged with lifting your country out of the worst health crisis in living memory, and nobody around you knows when it will end—the second wave that gripped the region earlier in the year has eased, but many countries are nonetheless bracing for further waves as winter approaches. […]
Short-term Shot and Long-term Healing for Latin America and the Caribbean
By Alejandro Werner, Takuji Komatsuzaki, and Carlo Pizzinelli
Growth in Latin America and the Caribbean recovered briskly in the second half of 2020, yet still more slowly than the global economy and other emerging markets. […]
From Vaccines to V-Shaped Recovery in Europe
One year into the pandemic, Europe finds itself at another turning point. New waves of infection are hitting the continent, requiring new lockdowns. […]
An Asynchronous and Divergent Recovery May Put Financial Stability at Risk
عربي, 中文, Español, Français, 日本語, Português, Русский
After enduring a tumultuous 2020, the global economy is finally emerging from the worst phases of the COVID-19 pandemic, albeit with prospects diverging starkly across regions and countries—and only after a “lost year” spent in suspended animation. […]
Emerging and Frontier Markets: Policy Tools in Times of Financial Stress
By Dimitris Drakopoulos, Rohit Goel, Fabio Natalucci, and Evan Papageorgiou
عربي, 中文, Español, Français, 日本語, Русский
After the unprecedented hit to economic activity in emerging market economies from the COVID-19 pandemic, their economic output is projected to shrink by 3.3 percent in 2020. […]
Europe Needs to Maintain Strong Policy Support to Sustain the Recovery
The pandemic is exacting a heavy toll on Europe. More than 240,000 people have lost their lives. Millions have suffered the illness themselves, the loss of loved ones, or major disruption in their work, their businesses, and their daily lives. […]