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 on new research, this note finds that the productivity slowdown reflects both crisis legacies and...

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

This paper does two things. First, it articulates what are the main implications of theoretical and empirical research for design of labor market policies and labor market institutions. Second, in this light, the paper analyzes the IMF’s labor market recommendations since the beginning of the...

This Coordinated Direct Investment Survey Guide (Guide) has been prepared to assist economies participating in the Coordinated Direct Investment Survey (CDIS). The CDIS is being conducted under the auspices of the Statistics Department (STA) of the International Monetary Fund (IMF) across a wide...

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 on the design of labor market institutions in a developing economy context and then reviews its...

En la serie de Documentos de Análisis del Personal Técnico del FMI se presentan los últimos análisis e investigaciones sobre políticas elaborados por miembros del personal técnico del FMI, que se publican para recibir comentarios y fomentar el debate. Estos documentos generalmente son...

Latin America’s bold fiscal policy reaction to the global financial crisis was hailed as a sign that the region had finally overcome its procyclical fiscal past. However, most countries of the region have not yet rebuilt their fiscal space, despite buoyant commodity revenues and relatively...

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 economic effects. Our analysis, based on new empirical and numerical analysis and country...

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 inequality can impair the sustainability of growth and macroeconomic stability, thereby also limiting...

Many countries are experiencing persistent, weak medium-term growth and limited fiscal space. Against this background, economic policy agendas-in both advanced and developing economies-are focusing increasingly on structural reforms. While there is broad agreement on the economic benefits of...