|A Central Fiscal Stabilization Capacity for the Euro Area|
Author/Editor: Nathaniel G Arnold, Bergljot B Barkbu, H Elif Ture, Hou Wang, Jiaxiong Yao.
Release Date:March, 2018
This note outlines a concrete proposal for a euro area central fiscal capacity (CFC) that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic more...
|Trade-offs in Bank Resolution|
Author/Editor: Giovanni Dell'Ariccia, Maria Soledad Martinez Peria, Deniz O Igan, Elsie Addo Awadzi, Marc Dobler, Damiano Sandri.
Release Date:February, 2018
This SDN revisits the debate on bank resolution regimes, first by presenting a simple model of bank insolvency that transparently describes the trade-off involved between bail-outs, bail-ins, and more...
|Inequality and Poverty across Generations in the European Union|
Author/Editor: Tingyun Chen, Jean-Jacques Hallaert, Alexander Pitt, Haonan Qu, Maximilien Queyranne, Alaina Rhee, Anna Shabunina, Jérôme Vandenbussche, Irene Yackovlev.
Release Date:January, 2018
This SDN studies the evolution of inequality across age groups leading up to and since the global financial crisis, as well as implications for fiscal and labor policies. Europe’s population is more...
|Big Data : Potential, Challenges and Statistical Implications|
Author/Editor: Cornelia Hammer, Diane C Kostroch, Gabriel Quiros.
Release Date:September, 2017
Big data are part of a paradigm shift that is significantly transforming statistical agencies, processes, and data analysis. While administrative and satellite data are already well established, the more...
|Fintech and Financial Services : Initial Considerations|
Author/Editor: Dong He, Ross B Leckow, Vikram Haksar, Tommaso Mancini Griffoli, Nigel Jenkinson, Mikari Kashima, Tanai Khiaonarong, Celine Rochon, Hervé Tourpe.
Release Date:June, 2017
A new wave of technological innovations, often called “fintech,” is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation more...
|Gone with the Headwinds : Global Productivity|
Author/Editor: Gustavo Adler, Romain A Duval, Davide Furceri, Sinem Kılıç Çelik, Ksenia Koloskova, Marcos Poplawski-Ribeiro.
Release Date:April, 2017
Productivity growth—the key driver of living standards—fell sharply following the global financial crisis and has remained sluggish since, adding to a slowdown already in train before. Building more...
|Labor and Product Market Reforms in Advanced Economies : Fiscal Costs, Gains, and Support|
Author/Editor: Angana Banerji, Valerio Crispolti, Era Dabla-Norris, Romain A Duval, Christian H Ebeke, Davide Furceri, Takuji Komatsuzaki, Tigran Poghosyan.
Release Date:March, 2017
Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term more...
|Measure up : A Better Way to Calculate GDP|
Author/Editor: Thomas F Alexander, Claudia H Dziobek, Marco Marini, Eric Metreau, Michael Stanger.
Release Date:February, 2017
To derive real GDP, the System of National Accounts 2008 (2008 SNA) recommends a technique called double deflation. Some countries use single deflation techniques, which fail to capture important more...
|Macro-Structural Policies and Income Inequality in Low-Income Developing Countries|
Author/Editor: Stefania Fabrizio, Davide Furceri, Rodrigo Garcia-Verdu, Bin Grace Li, Sandra V Lizarazo Ruiz, Marina Mendes Tavares, Futoshi Narita, Adrian Peralta-Alva.
Release Date:January, 2017
Despite sustained economic growth and rapid poverty reductions, income inequality remains stubbornly high in many low-income developing countries. This pattern is a concern as high levels of more...
|Macroeconomic Management When Policy Space is Constrained : A Comprehensive, Consistent and Coordinated Approach to Economic Policy|
Author/Editor: Vitor Gaspar, Maurice Obstfeld, Ratna Sahay, Douglas Laxton, Dennis P Botman, Kevin Clinton, Romain A Duval, Kotaro Ishi, Zoltan Jakab, Laura Jaramillo, Constant A Lonkeng Ngouana, Tommaso Mancini Griffoli, Joannes Mongardini, Susanna Mursula, Erlend Nier, Yulia Ustyugova, Hou Wang, Oliver Wuensch.
Release Date:September, 2016
The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or more...