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Explaining High Unemployment In Eccu Countries
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Book Synopsis Explaining High Unemployment in ECCU Countries by : Ronald James
Download or read book Explaining High Unemployment in ECCU Countries written by Ronald James and published by International Monetary Fund. This book was released on 2019-07-11 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, unemployment rates in some ECCU countries have been among the highest globally. This paper evaluates several factors that could explain them, finding that high unit labor costs, in a context of strong unionization, are significantly associated with high structural unemployment, while the global crisis added a cyclical component. Our analysis also suggests that high-paid jobs in the public and tourism sectors, which have been growing considerably in recent decades, could have increased the reservation wage and lowered labor force participation. We find no indication that high structural unemployment is related to the phase out of EU preferences on bananas/sugar exports or to a skills mismatch. As expected, unemployment has been substantially, but only temporarily fueled by large natural disasters.
Book Synopsis Explaining High Unemployment in ECCU Countries by : Ronald James
Download or read book Explaining High Unemployment in ECCU Countries written by Ronald James and published by International Monetary Fund. This book was released on 2019-07-11 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, unemployment rates in some ECCU countries have been among the highest globally. This paper evaluates several factors that could explain them, finding that high unit labor costs, in a context of strong unionization, are significantly associated with high structural unemployment, while the global crisis added a cyclical component. Our analysis also suggests that high-paid jobs in the public and tourism sectors, which have been growing considerably in recent decades, could have increased the reservation wage and lowered labor force participation. We find no indication that high structural unemployment is related to the phase out of EU preferences on bananas/sugar exports or to a skills mismatch. As expected, unemployment has been substantially, but only temporarily fueled by large natural disasters.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :147559092X Total Pages :75 pages Book Rating :4.4/5 (755 download)
Book Synopsis St. Lucia by : International Monetary Fund. Western Hemisphere Dept.
Download or read book St. Lucia written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2017-03-31 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite some limited improvement in labor market conditions, unemployment remains high and growth modest as low competitiveness and structural bottlenecks continue to weigh on economic performance. Slow progress in addressing financial sector problems has left banks loaded with impaired assets and unable to support the economy. The new government is developing a program of pro-growth reforms, but policies have not yet been defined.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :147554636X Total Pages :119 pages Book Rating :4.4/5 (755 download)
Book Synopsis Eastern Caribbean Currency Union by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2016-10-25 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regional recovery is gaining ground, supported by continued low oil prices, the return to pre-2007 levels of tourism arrivals, and buoyant citizenship-by-investment receipts. Three failed banks have been resolved with no spillovers to the rest of the region and authorities have demonstrated improved fiscal management. Risks in the short run appear to be balanced but the region still faces many vulnerabilities that jeopardize the medium-term outlook. This year’s discussions took stock of the progress made and the policies needed to address key vulnerabilities related to the weak banking system, high debt, susceptibility to natural disasters, and competitiveness.
Book Synopsis OECD Development Pathways Development Strategy Assessment of the Eastern Caribbean by : OECD
Download or read book OECD Development Pathways Development Strategy Assessment of the Eastern Caribbean written by OECD and published by OECD Publishing. This book was released on 2022-10-07 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eastern Caribbean countries enjoy rich natural endowments and have achieved significant economic development. Throughout the last decades, they have also been confronted with a number of rising economic, social and environmental challenges.
Book Synopsis Corporate versus National Interest in US Trade Policy by : Richard L. Bernal
Download or read book Corporate versus National Interest in US Trade Policy written by Richard L. Bernal and published by Springer Nature. This book was released on 2020-10-31 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a history of the WTO US-EU banana dispute through the lens of a major actor: the US-owned multinational firm, Chiquita Brands International. It documents and explains how Chiquita succeeded in having the Clinton administration pursue a trade policy of forcing the European Union to dismantle its preferential banana import regime for exports from the small English-speaking Caribbean (ESC) countries. The export of bananas was critically important to the social stability and economic viability of these countries and that was in the national security interest of the United States. The experience indicates that succeeding in this goal was detrimental to U.S. national security interest in the Caribbean.
Book Synopsis Unemployment in Greece by : Dimitri G. Demekas
Download or read book Unemployment in Greece written by Dimitri G. Demekas and published by . This book was released on 1997 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis New Insights into ECCU's Tourism Sector Competitiveness by : Mr.Manuk Ghazanchyan
Download or read book New Insights into ECCU's Tourism Sector Competitiveness written by Mr.Manuk Ghazanchyan and published by International Monetary Fund. This book was released on 2019-07-17 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tourism has become the main driver of economic growth and employment and the most important source of income in the ECCU. Preserving and, possibly, enhancing the competitiveness of the tourism product is key for these countries. Unfortunately, the evidence shows that tourism arrivals to the ECCU have been declining slightly while global demand for tourism is on the rise. The objective of this paper is to study the structural determinants of competitiveness for the ECCU, defined as the relative cost advantage over other touristic regions (Di Bella, Lewis, and Martin 2007). Using a gravity model, we show that proximity to North American and European markets is indeed an important competitive advantage for the ECCU. However, despite this advantage, and, in some cases, specialization in high-end tourism, regression analysis shows that arrivals to the ECCU are sensitive to relative prices. Our simulations show that mitigating supply-side constraints would improve the ECCU’s competitiveness and allow the region to regain global market shares.
Download or read book Mauritius written by Mr.James Y. Yao and published by International Monetary Fund. This book was released on 2003-11-01 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite strong economic growth, a "U"-curve unemployment phenomenon in Mauritius can be observed. Unemployment plunged from 21 percent to less than 4 percent between the early 1980s and the early 1990s, but this trend was reversed and the rate increased to 10 percent by end-2002. This paper provides an analytical framework to explain this development. The growth of higher-skilled sectors coupled with rigidities in the labor market seem to account for the observed unemployment behavior. Policy makers can improve employment prospects by not only investing in education to reduce skills mismatch but also by reforming the pay-setting institutions.
Book Synopsis The Eastern Caribbean Economic and Currency Union by : Mr.Alfred Schipke
Download or read book The Eastern Caribbean Economic and Currency Union written by Mr.Alfred Schipke and published by International Monetary Fund. This book was released on 2013-04-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.
Book Synopsis The Economics of Belonging by : Martin Sandbu
Download or read book The Economics of Belonging written by Martin Sandbu and published by Princeton University Press. This book was released on 2020-06-16 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: A radical new approach to economic policy that addresses the symptoms and causes of inequality in Western society today Fueled by populism and the frustrations of the disenfranchised, the past few years have witnessed the widespread rejection of the economic and political order that Western countries built up after 1945. Political debates have turned into violent clashes between those who want to “take their country back” and those viewed as defending an elitist, broken, and unpatriotic social contract. There seems to be an increasing polarization of values. The Economics of Belonging argues that we should step back and take a fresh look at the root causes of our current challenges. In this original, engaging book, Martin Sandbu argues that economics remains at the heart of our widening inequality and it is only by focusing on the right policies that we can address it. He proposes a detailed, radical plan for creating a just economy where everyone can belong. Sandbu demonstrates that the rising numbers of the left behind are not due to globalization gone too far. Rather, technological change and flawed but avoidable domestic policies have eroded the foundations of an economy in which everyone can participate—and would have done so even with a much less globalized economy. Sandbu contends that we have to double down on economic openness while pursuing dramatic reforms involving productivity, regional development, support for small- and medium-sized businesses, and increased worker representation. He discusses how a more active macroeconomic policy, education for all, universal basic income, and better taxation of capital could work together for society’s benefit. Offering real answers, not invective, for facing our most serious political issues, The Economics of Belonging shows how a better economic system can work for all.
Book Synopsis Government Wage Bill Management and Civil Service Reform in the Eastern Caribbean Currency Union by : Mr.A. E. Wayne Mitchell
Download or read book Government Wage Bill Management and Civil Service Reform in the Eastern Caribbean Currency Union written by Mr.A. E. Wayne Mitchell and published by International Monetary Fund. This book was released on 2019-05-17 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, we assess the size of the government wage bill and employment in the member countries of the Eastern Caribbean Currency Union and their implications for fiscal sustainability and the adequacy of public service delivery. Over the period 2005 to 2015 their wage bill (as a percentage of GDP, government revenues and expenditures) is higher than in other small states notwithstanding recent efforts by governments to make it more manageable. The composition and distribution of employment is sub-optimal and is reflected in skills mismatches contributing to inefficiencies in public service delivery. Using a dynamic fixed-effects panel, we find that wage bill growth reflects the expansion of government activities to speed up economic and social development and that wage bill spending is procyclical in good times but is rigid during downturns. Finally, we identify the main institutional and legal reforms needed to improve wage bill management and public service efficiency.
Book Synopsis Caribbean Growth in an International Perspective by : Ms.Nita Thacker
Download or read book Caribbean Growth in an International Perspective written by Ms.Nita Thacker and published by International Monetary Fund. This book was released on 2012-09-27 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: After earlier success, growth performance in most Caribbean countries has been disappointing since the early 1990s. With slower growth, output has fallen behind that of relevant comparator countries. This paper analyzes the growth experience of the Caribbean countries from a cross country perspective. Three findings stand out. First, the slowdown in growth is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many countries there is scope for further expansion of this sector. Third, the small size and the fact that most of these countries are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and regional integration could pay dividends in terms of higher growth in the region.
Book Synopsis St. Lucia by : International Monetary Fund
Download or read book St. Lucia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-12-08 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2003 Article IV Consultation highlights that after a contraction in GDP of more than 4 percent in 2001 and only a marginal expansion in 2002, the pace of economic growth in St. Lucia accelerated in 2003 to 3.7 percent, driven by a rebound in tourism of close to 17 percent. Despite the pickup in growth, the overall economic situation remained difficult in 2003, as an ongoing recovery in the tourism sector has not spilled over to the whole economy. Unemployment remained high, and bank credit to the private sector is declining.
Book Synopsis Fiscal Multipliers: Size, Determinants, and Use in Macroeconomic Projections by : Nicoletta Batini
Download or read book Fiscal Multipliers: Size, Determinants, and Use in Macroeconomic Projections written by Nicoletta Batini and published by International Monetary Fund. This book was released on 2014-10-02 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research. This note provides general guidance on the definition, measurement, and use of fiscal multipliers. It reviews the literature related to their size, persistence and determinants. For countries where no reliable estimate is available, the note proposes a simple method to come up with reasonable values. Finally, the note presents options to incorporate multipliers in macroeconomic forecasts.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Book Synopsis Macroeconomic Risk Management Against Natural Disasters by : Stefan Hochrainer
Download or read book Macroeconomic Risk Management Against Natural Disasters written by Stefan Hochrainer and published by Springer Science & Business Media. This book was released on 2007-12-14 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stefan Hochrainer develops a catastrophe risk management model. It illustrates which trade-offs and choices a country must make in managing economic risks due to natural disasters. Budgetary resources are allocated to pre-disaster risk management strategies to reduce the probability of financing gaps. The framework and model approach allows cross country comparisons as well as the assessment of financial vulnerability, macroeconomic risk, and risk management strategies. Three case studies demonstrate its flexibility and coherent approach.
