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Productivity Growth and Structural Reform in Bulgaria; Restarting the Convergence Engine

Pouvelle, Cyril; Mitra, Pritha - International Monetary Fund (IMF) - 2012

Labor productivity levels in Bulgaria lag well behind that in the EU, weighing on the convergence process. Stronger productivity growth would allow Bulgaria to close the income gap with the EU average more quickly and to alleviate the structural problems in its labor market, reflected in its...

Persistent link: https://www.econbiz.de/10011242306

Minimum Wages and Firm Employment: Evidence from China

Huang, Yi; Loungani, Prakash; Wang, Gewei - International Monetary Fund (IMF) - 2014

This paper provides the first systematic study of how minimum wage policies in China affect firm employment over the … impact on employment, with an estimated elasticity of -0.1. Furthermore, we find a heterogeneous effect of the minimum wage … on employment which depends on the firm's wage level. Specifically, the minimum wage has a greater negative impact on …

Persistent link: https://www.econbiz.de/10011123849

Uncertainty and the Employment Dynamics of Small and Large Businesses

Ghosal, Vivek; Ye, Yang - International Monetary Fund (IMF) - 2015

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment …-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we need to …

Persistent link: https://www.econbiz.de/10011123865

The Case for a European Banking Charter

Cihák, Martin; Decressin, Jörg - International Monetary Fund (IMF) - 2007

Most financial institutions in the European Union (EU) are still based in one country, but a number of large financial institutions (LCFI) have systemic cross-border exposures. The paper explains how, despite much progress, nationally-segmented supervisory frameworks and national accountability...

Persistent link: https://www.econbiz.de/10005825634

Forces Driving Inflation in the New EU10 Members

Stavrev, Emil - International Monetary Fund (IMF) - 2009

The paper analyzes the forces driving inflation in the new EU10 member countries. A significant part of headline inflation in these countries is due to common factors, such as price level convergence and EU integration. However, idiosyncratic factors have also played a role in the inflation...

Persistent link: https://www.econbiz.de/10005825667

Price Impacts of Non-Adoption of the Euro for Small European Countries

Anderson, Harald; Yelten, Sibel - International Monetary Fund (IMF) - 2006

Debates surrounding the adoption of a common currency have focused on its benefits weighed against the long-term costs of losing monetary independence. These debates have assumed that the penalty for not adopting a common currency is the maintenance of the status quo. This paper uses the...

Persistent link: https://www.econbiz.de/10005825723

Global Imbalances; The Role of Non-Tradabletotal Factor Productivity in Advanced Economies

Rebucci, Alessandro; Batini, Nicoletta; Cova, Pietro; … - International Monetary Fund (IMF) - 2009

This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today's global trade imbalances. Simulation results based on a dynamic general equilibrium model of...

Persistent link: https://www.econbiz.de/10005825739

Assessing the Impact of a Change in the Composition of Public Spending; A DSGE Approach

Tchakarov, Ivan; Straub, Roland - International Monetary Fund (IMF) - 2007

Despite intense calls for safeguarding public investment in Europe, public investment expenditure, when measured in relation to GDP, has steadily fallen in the last three decades, evoking fears that economic activity may be correspondingly negatively affected. At the same time, however, public...

Persistent link: https://www.econbiz.de/10005825753

Determinants of Foreign Currency Borrowing in the New Member States of the EU

Rosenberg, Christoph B.; Tirpák, Marcel - International Monetary Fund (IMF) - 2008

The paper investigates the determinants of foreign currency borrowing by the private sector in the new member states of the European Union. We find that striking differences in patterns of foreign currency borrowing between countries are explained by the loan-to-deposit ratios, openness, and the...

Persistent link: https://www.econbiz.de/10005825762

Policy Credibility and Sovereign Credit; The Case of New EU Member States

Kumar, Manmohan S.; Jonáš, Jirí; Hauner, David - International Monetary Fund (IMF) - 2007

References to policy credibility, particularly with regard to fiscal policy, are ubiquitous in both economic literature and financial markets, even though it is not directly observable. The case of the EU new member states (NMS)-emerging markets joining a supranational entity that is generally...

Persistent link: https://www.econbiz.de/10005825886

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