 | The 2020-2022 Inflation Surge Across Europe: A Phillips-Curve-Based Dissection Author/Editor: Chikako Baba, Romain A Duval, Ting Lan, Petia Topalova. Release Date:February, 2023 In 2021-22, inflation in Europe soared to multidecade highs, consistently exceeding policymakers' forecasts and surprising with its wide cross-country dispersion. This paper analyzes the key drivers more...
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 | Labor Market Tightness in Advanced Economies Release Date:March, 2022 Two years after the onset of the COVID-19 pandemic, a puzzle has emerged in several advanced economies: unfilled job vacancies have increased sharply even though employment has yet to fully recover. more...
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| Preferences for Reforms: Endowments vs. Beliefs Author/Editor: Romain A Duval, Yi Ji, Chris Papageorgiou, Ippei Shibata, Antonio Spilimbergo. Release Date:February, 2022 Are preferences for reforms driven by individuals' own endowments or beliefs? To address this question, we conducted a cross-country survey on people's opinions on employment protection more...
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| Labor Market Reform Options to Boost Employment in South Africa Author/Editor: Romain A Duval, Yi Ji, Ippei Shibata. Release Date:June, 2021 Raising South Africa's low employment rate to levels seen in emerging market or advanced economy peers could raise GDP per capita by 50 to 60 percent and reduce income inequality dramatically in the more...
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| Rising Corporate Market Power: Emerging Policy Issues : Emerging Policy Issues Release Date:March, 2021 Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will more...
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| Labor and Product Market Reforms and External Imbalances: Evidence from Advanced Economies Author/Editor: Romain A Duval, Davide Furceri, Joăo Tovar Jalles. Release Date:February, 2021 We explore the impact of major labor and product market reforms on current account dynamics using a new “narrative” database of major changes in employment protection for regular workers and more...
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| Macroeconomic Policy, Product Market Competition, and Growth: The Intangible Investment Channel Author/Editor: JaeBin Ahn, Romain A Duval, Can Sever. Release Date:February, 2020 While there is growing evidence of persistent or even permanent output losses from financial crises, the causes remain unclear. One candidate is intangible capital – a rising driver of economic more...
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| Strengthening the Euro Area : The Role of National Structural Reforms in Building Resilience Author/Editor: Romain A Duval, Shekhar Aiyar. Release Date:June, 2019 The SDN will focus mostly on EA countries but also touch on other AEs for comparison purposes. The SDN will make several original contributions in each of the areas above based on new more...
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| Designing Labor Market Institutions in Emerging and Developing Economies : Evidence and Policy Options Author/Editor: Romain A Duval, Prakash Loungani. Release Date:May, 2019 This paper discusses theoretical aspects and evidences related to designing labor market institutions in emerging market and developing economies. This note reviews the state of theory and evidence more...
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| Employment Protection Deregulation and Labor Shares in Advanced Economies Author/Editor: Gabriele Ciminelli, Romain A Duval, Davide Furceri. Release Date:August, 2018 Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies more...
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