Monday, November 27, 2017
From VoxEU: “The Eurozone crisis has opened fault lines between German economists and policymakers and those in a number of Eurozone (in particular periphery) countries.This column introduces a new eBook explaining the historical development of the ordoliberal school of economics and its influence on German policymaking, and contrasting it critically with what we like to call the Anglo-Saxon-Latin pragmatism of economic policymaking.”
Download the new eBook here.
From VoxEU: “The Eurozone crisis has opened fault lines between German economists and policymakers and those in a number of Eurozone (in particular periphery) countries.This column introduces a new eBook explaining the historical development of the ordoliberal school of economics and its influence on German policymaking, and contrasting it critically with what we like to call the Anglo-Saxon-Latin pragmatism of economic policymaking.”
Download the new eBook here.
Posted by 9:18 AM
atLabels: Inclusive Growth, Macro Demystified
Friday, November 24, 2017
On cross-country:
On the US:
On other countries:
On cross-country:
On the US:
Posted by 5:00 AM
atLabels: Global Housing Watch
Wednesday, November 22, 2017
The IMF’s latest report on Philippines says that “However, credit growth has accelerated from 13.6 percent in 2015 to 19.7 percent in July 2017, led by consumer credit and real estate loans. Although most indicators show no evidence of a credit boom so far, property prices have stabilized, and lending standards have not deteriorated, some indicators suggest that, under current trends, credit gaps could approach early warning levels of credit booms in 2017−18 (…)”.
The IMF’s latest report on Philippines says that “However, credit growth has accelerated from 13.6 percent in 2015 to 19.7 percent in July 2017, led by consumer credit and real estate loans. Although most indicators show no evidence of a credit boom so far, property prices have stabilized, and lending standards have not deteriorated, some indicators suggest that, under current trends, credit gaps could approach early warning levels of credit booms in 2017−18 (…)”.
Posted by 3:04 PM
atLabels: Global Housing Watch
Tuesday, November 21, 2017
From a new IMF working paper:
“Korea is facing mounting economic challenges. Productivity growth has been on a trend decline amid demographic headwinds, while the societal demand for inclusive growth has been on a steep rise. Furthermore, the government-led unbalanced growth model—which served Korea well in the past—has become less effective and politically palatable in recent years. As such, Korea needs a major paradigm shift to embark on a new sustainable and inclusive growth path. But policy response has been modest at best with no major reforms being implemented over the past two decades. We propose a paradigm shift in Korea’s economic framework, involving a simultaneous big push for greater economic freedom and stronger social protection within the parameters set by long-run fiscal sustainability. We also provide a detailed account of structural reforms to boost economic freedom and sustainable funding plans for stronger social protection.”
From a new IMF working paper:
“Korea is facing mounting economic challenges. Productivity growth has been on a trend decline amid demographic headwinds, while the societal demand for inclusive growth has been on a steep rise. Furthermore, the government-led unbalanced growth model—which served Korea well in the past—has become less effective and politically palatable in recent years. As such, Korea needs a major paradigm shift to embark on a new sustainable and inclusive growth path.
Posted by 4:50 PM
atLabels: Inclusive Growth
A new IMF country report finds:
“The implementation of the Pacto por México has already led to important transformations in the Mexican economy. While initial estimates of potential growth payoffs may have been optimistic, external headwinds have masked important signals that the reforms are working. From a macroeconomic perspective, the reforms have already contributed to increasing investment, falling prices and more widespread access to services.
The reforms will take more time to fully feed through to the broader macro economy and lift growth. The delayed impact of the reforms owes to their complexity as well as some important short-term costs. At the same time, weaknesses in the rule of law will have weakened their impacts. Nevertheless, the transformations have highlighted the positive synergies associated with a broad approach to structural reform that exploits complementarities between different sectors.
Building on existing reforms will be key, and priority should be given to reforms targeting the rule of law. Continued weaknesses related to informality, corruption and crime would stifle private investment and would likely impede the broader reform effort from exerting its full impact on the economy. Improving the efficiency and quality of law enforcement and judicial institutions would be critical in this regard.”
A new IMF country report finds:
“The implementation of the Pacto por México has already led to important transformations in the Mexican economy. While initial estimates of potential growth payoffs may have been optimistic, external headwinds have masked important signals that the reforms are working. From a macroeconomic perspective, the reforms have already contributed to increasing investment, falling prices and more widespread access to services.
The reforms will take more time to fully feed through to the broader macro economy and lift growth.
Posted by 3:17 PM
atLabels: Inclusive Growth
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