The Unassuming Economist

From a paper by Prakash Loungani, Hites Ahir, and Akos Mate:

“This chapter examines the International Monetary Fund (IMF)’s approach to labor markets and policy recommendations between the Global Financial Crisis (GFC) and the COVID-19 pandemic. It explores the contrasting positions of neoliberal and progressive perspectives on labor market efficiency and equity, as well as their attitudes toward globalization. The chapter analyzes the IMF’s advice on labor market flexibility, fiscal policy, and macroeconomic policies. It also discusses the reactions to the IMF’s work from progressive circles. The chapter provides insights into the IMF’s efforts to balance efficiency and equity considerations, particularly in advanced economies and emerging markets. Additionally, it explores the IMF’s work on distributional outcomes and its response to the COVID-19 pandemic’s impact on labor markets.”