|The Fiscal Consequences of Shrinking Populations|
Author/Editor: Benedict J. Clements, Kamil Dybczak, Vitor Gaspar, Sanjeev Gupta, Mauricio Soto.
Release Date:October, 2015
This Staff Discussion Note looks at the stark fiscal challenges posed by the decline and aging of populations between now and 2100. It finds that without reforms, pensions and health spending would more...
|Is the Glass Half Empty Or Half Full? : Issues in Managing Water Challenges and Policy Instruments|
Author/Editor: Kalpana Kochhar, Catherine A Pattillo, Yan M Sun, Nujin Suphaphiphat, Andrew J Swiston, Robert Tchaidze, Benedict J Clements, Stefania Fabrizio, Valentina Flamini, Laure Redifer, Harald Finger.
Release Date:June, 2015
This paper examines water challenges, a growing global concern with adverse economic and social consequences, and discusses economic policy instruments. Water subsidies provided through public more...
|Equitable and Sustainable Pensions : Challenges and Experience|
Author/Editor: Benedict J. Clements, Frank Eich, Sanjeev Gupta.
Release Date:March, 2014
Pension reform is high on the agenda of many advanced and emerging market economies, for many reasons. First, public pensions often constitute a large share of government expenditure. Second, more...
|The Challenge of Public Pension Reform in Advanced and Emerging Economies|
Author/Editor: Benedict J. Clements, David Coady, Frank Eich, Sanjeev Gupta, Alvar Kangur, Baoping Shang, Mauricio Soto.
Release Date:January, 2013
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as more...
|Who's Going Green and Why? Trends and Determinants of Green Investment|
Author/Editor: Luc Eyraud, Changchang Zhang, Abdoul Wane, Benedict J. Clements.
Release Date:December, 2011
This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green investment and analyzes the trends and determinants of this investment over the more...
|Monetary and Fiscal Policy Options for Dealing with External Shocks - Insights from the GIMF for Colombia|
Author/Editor: Enrique Flores, Daniel Leigh, Benedict J. Clements.
Release Date:March, 2009
This paper utilizes an open-economy New Keynesian overlapping generations model, the Global Integrated Monetary and Fiscal Model (GIMF), to assess the macroeconomic effects of external shocks and the more...
|Are Capital Controls Effective in the 21st Century? the Recent Experience of Colombia|
Author/Editor: Benedict J. Clements, Herman Kamil.
Release Date:February, 2009
This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate dynamics. The results suggest that the controls were successful in reducing external more...
|Unproductive Public Expenditures : A Pragmatic Approach to Policy Analysis|
Release Date:April, 2005
Public expenditure policy, together with efforts to raise revenue,is at the core of efficient and equitable adjustment. Public expenditureproductivity has critical implications for fiscal adjustment, more...