Why the jobs problem is not going away

Richard Dobbs, Anu Madgavkar, 19 September 2012

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Three years after the official end of the 'Great Recession', millions of workers across advanced economies remain unemployed. The US and UK unemployment rates remain above 8%; among Eurozone countries, unemployment exceeds 10% (US Bureau of Labor Statistics).

Topics: Global economy, Labour markets
Tags: global economy, Labour Markets, UK, US

Quota formula reform is about IMF credibility

Arvind Virmani, 22 June 2012

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The Eurozone crisis has overwhelmed all other debates about the reform and development of global governance institutions dealing with the world economy . It is therefore necessary to remind ourselves why we need a reform of the IMF quota formula.

Topics: Global economy, Global governance
Tags: global economy, IMF

The first global recession in decades

Jean Imbs, 10 November 2010

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The current turmoil is often argued to have had unprecedented global consequences (see Sugawara et al. 2010 for example).

Topics: Global crisis, Global economy, International finance, International trade
Tags: global crisis, global economy, international finance, international trade

Lessons in regionalism: What can the WTO teach the IMF?

Kati Suominen, 3 November 2010

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The epicentre of financial regionalism is Asia. Emerging East Asian economies, scarred by the IMF’s policy conditionalities during the 1997-98 regional financial crisis, are busily building national reserves and regional financial arrangements so as to wean themselves off the Fund’s influence.

Topics: Global economy, International finance
Tags: global economy, IMF, international finance, regionalism, WTO

A currency war the US cannot win

Yiping Huang, 19 October 2010

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A new currency war is looming. The US Congress has already passed a bill for imposing currency import tariffs, although becoming an actual policy is still a long shot. Tim Geithner is urging the IMF and the international community to play more active roles in promoting more flexible exchange-rate regimes.

Topics: Global economy, International trade
Tags: China, global economy, global imbalances, international trade, US

Debating the global roots of the current crisis

Brad Setser, 28 January 2009

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There is a broad consensus that regulatory weaknesses, distorted incentives and excessive leverage in the US (and European) financial sector contributed to the current, severe global financial crisis. The investment banks themselves presumably no longer think that doubling their leverage from 2004 to 2007 was a good idea. The Western financial sector made two big bets.

Topics: Macroeconomic policy
Tags: exchange rates, global economy, monetary policy

A $2 trillion question

Gian Maria Milesi-Ferretti, 28 January 2009

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With the raging financial crisis and the possible measures to combat it taking centre stage in the policy debate, the focus on the US current account deficit and its implications for the US net external asset position has waned to some extent.

Topics: Macroeconomic policy
Tags: global economy, US

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