Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download IMF Multi-Country Report PDF full book. Access full book title IMF Multi-Country Report by International Monetary Fund. European Dept.. Download full books in PDF and EPUB format.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1498351514 Category : Business & Economics Languages : en Pages : 27
Book Description
This report examines the experiences of four European countries that have had large house-price declines in recent years. In particular, it examines the experiences of Denmark, Ireland, the Netherlands, and Spain—four countries in which the house-price cycle has been especially large and that share a similar institutional environment (a common monetary policy and the EU’s institutional framework)—with a view to exploring how policies can best support economic recovery in the wake of a house-price bust. The paper draws on and synthesizes related Selected Issues papers that are being or have been drafted as part of the 2014 Article IV consultations with these countries. These countries’ experiences share similarities, but also important differences. Shocks to house prices, unemployment, and bank balance sheets were most severe in Ireland and Spain, reflecting in part a higher amplitude of residential construction. However, the boom- bust cycle has, together with other shocks, left all four countries facing significant output gaps, as well as elevated levels of private-sector debt that pose headwinds for growth. Promoting recovery following a house-price bust requires a multi-pronged strategy. Large house-price busts can leave countries facing wide output gaps, a highly indebted private sector, and weaker bank balance sheets. Addressing these problems simultaneously can be challenging, as efforts often involve trade-offs (e.g., faster deleveraging can widen output gaps). A careful and multi-pronged strategy is thus required to minimize trade-offs and accelerate sustainable recovery. Important progress has been made in this regard in all four countries.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1498351514 Category : Business & Economics Languages : en Pages : 27
Book Description
This report examines the experiences of four European countries that have had large house-price declines in recent years. In particular, it examines the experiences of Denmark, Ireland, the Netherlands, and Spain—four countries in which the house-price cycle has been especially large and that share a similar institutional environment (a common monetary policy and the EU’s institutional framework)—with a view to exploring how policies can best support economic recovery in the wake of a house-price bust. The paper draws on and synthesizes related Selected Issues papers that are being or have been drafted as part of the 2014 Article IV consultations with these countries. These countries’ experiences share similarities, but also important differences. Shocks to house prices, unemployment, and bank balance sheets were most severe in Ireland and Spain, reflecting in part a higher amplitude of residential construction. However, the boom- bust cycle has, together with other shocks, left all four countries facing significant output gaps, as well as elevated levels of private-sector debt that pose headwinds for growth. Promoting recovery following a house-price bust requires a multi-pronged strategy. Large house-price busts can leave countries facing wide output gaps, a highly indebted private sector, and weaker bank balance sheets. Addressing these problems simultaneously can be challenging, as efforts often involve trade-offs (e.g., faster deleveraging can widen output gaps). A careful and multi-pronged strategy is thus required to minimize trade-offs and accelerate sustainable recovery. Important progress has been made in this regard in all four countries.
Author: International Monetary Fund. Research Dept. Publisher: International Monetary Fund ISBN: 1484316673 Category : Business & Economics Languages : en Pages : 20
Book Description
The IMF Research Bulletin includes listings of recent IMF Working Papers and Staff Discussion Notes. The research summaries in this issue are “Explaining the Recent Slump in Investment” (Mathieu Bussiere, Laurent Ferrara, and Juliana Milovich) and “The Quest for Stability in the Housing Markets” (Hites Ahir). The Q&A column reviews “Seven Questions on Estimating Monetary Transmission Mechanism in Low-Income Countries” (Bin Grace Li, Christopher Adam, and Andrew Berg). Also included in this issue are updates on the IMF’s official journal, the IMF Economic Review, and recommended readings from IMF Publications.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1513503162 Category : Business & Economics Languages : en Pages : 48
Book Description
This Selected Issues paper analyzes Norway’s economy that has a maturing oil and gas industry. Norway’s half century of good fortune from its oil and gas wealth may have peaked. Oil and gas production will continue for many decades on current projections, but output and investment have flattened out, and the spillovers from the offshore oil and gas production to the mainland economy may have turned from positive to negative. Thus far, economic policy has needed to focus on managing the windfall, and Norway’s institutions have been a model for other countries. Going forward, the challenges are expected to become more complex.
Author: Christoph U. Schmid Publisher: Edward Elgar Publishing ISBN: 1788113985 Category : LAW Languages : en Pages : 384
Book Description
Tenancy law has developed in all EU member states for decades, or even centuries, but constitutes a widely blank space in comparative and European law. This book fills an important gap in the literature by considering the diverse and complex panorama of housing policies, markets and their legal regulation across Europe. Expert contributors argue that that while unification is neither politically desired nor opportune, a European recommendation of best practices including draft rules and default contracts implementing a regulatory equilibrium would be a rewarding step forward.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1513523082 Category : Business & Economics Languages : en Pages : 112
Book Description
This Selected Issues paper discusses the risks of low growth and inflation over the medium term for the euro area. It examines the consequences of longer term trends that predate the crisis and the progress made in addressing the crisis legacies of high unemployment and debt. The paper illustrates, in a downside scenario, how low potential growth and crisis legacies leave the euro area vulnerable to the risks of stagnation. The weak medium-term prospect and limited policy space leave the euro area vulnerable to shocks that could lead to a prolonged period of low growth and inflation. Model simulations suggest that a modest shock to investor confidence could push up risk premia and real interest rates, as policy space is constrained at the zero lower bound and fiscal policy space to provide stimulus is limited. Moreover, the lingering crisis legacies of high debt and unemployment could amplify the original shocks, creating a bad feedback loop and keeping the economy stuck in equilibrium of stagnation.
Author: Mr.Tigran Poghosyan Publisher: International Monetary Fund ISBN: 1484387198 Category : Business & Economics Languages : en Pages : 36
Book Description
This paper analyzes regional labor mobility in Finland using two complementary empirical approaches: a VAR proposed by Blanchard and Katz (1992) and a gravity model. The results point to a relatively limited regional labor mobility in Finland compared to the U.S. and to EU peers. The limited regional labor mobility is associated with persistent unemployment differentials across regions. Some impediments to regional labor mobility are exogenous, such as large geographical distances across regions and relatively sparse population density, and explain about 23 percent of the variation in labor mobility. Others can be influenced by policy, such as further increase in wage flexibiltiy and reduction of housing costs. These impediments explain about 60 percent of the variation in labor mobility. Greater regional labor mobility could help reduce regional unemployment differentials, improve job matching efficiency, and remove pressures from regional fiscal redistribution.
Author: International Monetary Fund. Fiscal Affairs Dept. Publisher: International Monetary Fund ISBN: 1498345204 Category : Business & Economics Languages : en Pages : 78
Book Description
Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. ‘Debt bias’ (tax provisions favoring finance by debt rather than equity) has increased leverage in both the household and corporate sectors, and is now widely recognized as a significant macroeconomic concern. This paper presents new evidence of the extent of debt bias, including estimates for banks and non-bank financial institutions both before and after the global financial crisis. It presents policy options to alleviate debt bias, and assesses their effectiveness. The paper finds that thin capitalization rules restricting interest deductibility have only partially been able to address debt bias, but that an allowance for corporate equity has generally proved effective. The paper concludes that debt bias should feature prominently in countries’ tax reform plans in the coming years.
Author: OECD Publisher: OECD Publishing ISBN: 9264256113 Category : Languages : en Pages : 124
Book Description
This 2016 OECD Economic Survey of the Denmark examines recent economic developments, policies and prospects. The special chapters cover: Macroeconomic and financial risk; Ageing and wellbeing.
Author: Huidan Lin Publisher: International Monetary Fund ISBN: 1498394078 Category : Business & Economics Languages : en Pages : 25
Book Description
This paper discusses the risks of stagnation over the medium term in the euro area. It examines the consequences of longer-term growth trends that predate the crisis and the progress made in addressing the crisis legacies of high unemployment and debt. The paper illustrates in a downside scenario, how low potential growth and crisis legacies leave the euro area vulnerable to a negative shock that tips the economy into a prolonged slowdown.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344232 Category : Business & Economics Languages : en Pages : 59
Book Description
The Seventh PMR includes: (i) a discussion of progress made over the last year on the actions corresponding to four Management Implementation Plans (MIPs) that were classified as still “in progress” in the previous PMR; and (ii) an assessment of the progress made in achieving the high-level objectives in three areas directly related to those MIPs. In addition, an update on substantive issues related to five older MIPs agreed since 2007 is provided at the end of the report. Three new evaluations have been completed by the IEO since March 2014. In July and August 2015, Management issued the MIPs in response to these evaluations. Given that only a short time has passed since their completion, progress in addressing the actions contemplated in those MIPs will be discussed in the next PMR.
Author: International Monetary Fund. European Dept.
Author: International Monetary Fund. European Dept.
Author: International Monetary Fund. Research Dept.
Author: International Monetary Fund. European Dept.
Author: Christoph U. Schmid
Author: International Monetary Fund. European Dept.
Author: Mr.Tigran Poghosyan
Author: International Monetary Fund. Fiscal Affairs Dept.
Author: OECD
Author: Huidan Lin
Author: International Monetary Fund