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Author:
Publisher: International Monetary Fund
ISBN: 1513577492
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
In Europe, the severe human toll of the COVID-19 pandemic was compounded by the deepest fall in economic activity in modern history. Yet this huge decline in output did surprisingly little damage to the aggregate financial balance sheets of firms and households. This paper discusses how unprecedented policy support transferred private sector income losses to the public sector’s balance sheet and contrasts this experience to that of the global financial crisis.
Author:
Publisher: International Monetary Fund
ISBN: 1513577492
Category : Business & Economics
Languages : en
Pages : 45
Get Book Here
Book Description
In Europe, the severe human toll of the COVID-19 pandemic was compounded by the deepest fall in economic activity in modern history. Yet this huge decline in output did surprisingly little damage to the aggregate financial balance sheets of firms and households. This paper discusses how unprecedented policy support transferred private sector income losses to the public sector’s balance sheet and contrasts this experience to that of the global financial crisis.
Author: Bryn Battersby
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
During the COVID-19 pandemic and global financial crisis, governments swiftly served as financiers of last resort through large financial support measures (FSMs) such as loan and guarantee programs and equity injections in firms. This Staff Discussion Note argues that such FSMs prevented bankruptcies and attenuated the recession by increasing firms’ liquidity, reducing risk premiums, and boosting confidence. But FSMs also carry large and long-lasting fiscal costs and risks. The note presents recommendations for managing the legacies of the COVID-19 programs and preparing for future crises. Ideally, FSMs should be assessed and included in budget plans, though a balance needs to be struck between speed and scrutiny.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
Ireland’s economy has rebounded strongly from the pandemic. GDP surpassed its pre-pandemic trend in 2021:Q4—one of the few euro area countries to do so. COVID-support measures have been appropriately unwound, and the fiscal position improved significantly. The financial sector weathered the pandemic crisis well and remains resilient. While the outlook is strong, uncertainty is substantial due to the indirect impacts of the war in Ukraine. Several pre-pandemic challenges remain: housing shortages, infrastructure, social and green investment gaps, and the need to strengthen multinational enterprises’ inward linkages to broaden growth and make it more inclusive. There is also a need to address the Global Financial Crisis (GFC) legacy effects on the financial system and tackle the factors contributing to high lending interest rates.
Author: Mr. Gee Hee Hong
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
Advanced economies made available more than 5 trillion USD through government-supported credit guarantee and direct loan programs to provide lifelines to firms in the face of the COVID-19 pandemic. Notwithstanding the unprecedented scale of credit made available, an in-depth analysis of the fiscal consequences is missing, and the costs of these programs are not recognized in a transparent way. In this paper, we fill in an important aspect of the fiscal picture by estimating the subsidies that were provided by the largest credit guarantee programs introduced in 2020 in seven advanced economies. We estimate the subsidies on a fair value basis that provides a consistent and comprehensive upfront measure of cost. We explain the logic behind applying a fair value framework in a government context and compare it to alternative approaches. For the programs that we examine, total credit extended totaled 1.7 trillion USD. The subsidy element (cash-equivalent subsidy) is estimated to be 67 percent of loan principal on average (37 percent, excluding the US PPP), with a wide range across programs, from 12 to 100 percent. The variation is explained by differences across programs including eligibility criteria, loan terms, compensation to lenders, and other program design choices.
Author: Ms. Ruo Chen
Publisher: International Monetary Fund
ISBN: 1589068270
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
The Dutch economy is characterized by substantial financial balance sheets in the private sector. Uncommonly large gross financial assets and liabilities are found in the financial sector, whereas households own significant net financial wealth. The large gross financial assets and liabilities reflect a dominant role of multinational corporations (MNCs). Despite their size, these financial positions have not brought significant financial stability risks to the country. On the other hand, Dutch households’ long balance sheets have been associated with depressed consumption and volatile real estate investment, which has probably exacerbated the cyclicality of the economy. The expected reform of the pension system is likely to change the way household balance sheets interact with private consumption.
Author: INTERNATIONAL MONETARY FUND.
Publisher: International Monetary Fund
ISBN: 151359348X
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
Europe Regional Economic Outlook, The European Recovery: Policy Recalibration and Sectoral Reallocation, October 2021
Author: United Nations
Publisher:
ISBN: 9789211328721
Category :
Languages : en
Pages : 416
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Book Description
In a rapidly urbanizing and globalized world, cities have been the epicentres of COVID-19 (coronavirus). The virus has spread to virtually all parts of the world; first, among globally connected cities, then through community transmission and from the city to the countryside. This report shows that the intrinsic value of sustainable urbanization can and should be harnessed for the wellbeing of all. It provides evidence and policy analysis of the value of urbanization from an economic, social and environmental perspective. It also explores the role of innovation and technology, local governments, targeted investments and the effective implementation of the New Urban Agenda in fostering the value of sustainable urbanization.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309309980
Category : Medical
Languages : en
Pages : 431
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Book Description
Young adulthood - ages approximately 18 to 26 - is a critical period of development with long-lasting implications for a person's economic security, health and well-being. Young adults are key contributors to the nation's workforce and military services and, since many are parents, to the healthy development of the next generation. Although 'millennials' have received attention in the popular media in recent years, young adults are too rarely treated as a distinct population in policy, programs, and research. Instead, they are often grouped with adolescents or, more often, with all adults. Currently, the nation is experiencing economic restructuring, widening inequality, a rapidly rising ratio of older adults, and an increasingly diverse population. The possible transformative effects of these features make focus on young adults especially important. A systematic approach to understanding and responding to the unique circumstances and needs of today's young adults can help to pave the way to a more productive and equitable tomorrow for young adults in particular and our society at large. Investing in The Health and Well-Being of Young Adults describes what is meant by the term young adulthood, who young adults are, what they are doing, and what they need. This study recommends actions that nonprofit programs and federal, state, and local agencies can take to help young adults make a successful transition from adolescence to adulthood. According to this report, young adults should be considered as a separate group from adolescents and older adults. Investing in The Health and Well-Being of Young Adults makes the case that increased efforts to improve high school and college graduate rates and education and workforce development systems that are more closely tied to high-demand economic sectors will help this age group achieve greater opportunity and success. The report also discusses the health status of young adults and makes recommendations to develop evidence-based practices for young adults for medical and behavioral health, including preventions. What happens during the young adult years has profound implications for the rest of the life course, and the stability and progress of society at large depends on how any cohort of young adults fares as a whole. Investing in The Health and Well-Being of Young Adults will provide a roadmap to improving outcomes for this age group as they transition from adolescence to adulthood.
Author: National Intelligence Council and Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781543054705
Category :
Languages : en
Pages : 80
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Book Description
This edition of Global Trends revolves around a core argument about how the changing nature of power is increasing stress both within countries and between countries, and bearing on vexing transnational issues. The main section lays out the key trends, explores their implications, and offers up three scenarios to help readers imagine how different choices and developments could play out in very different ways over the next several decades. Two annexes lay out more detail. The first lays out five-year forecasts for each region of the world. The second provides more context on the key global trends in train.
Author: Haggai Ram
Publisher: Stanford University Press
ISBN: 1503613925
Category : History
Languages : en
Pages : 341
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Book Description
“Masterfully illuminates the social and cultural fissures left by colonialism in the Levant as hashish trade transgressed new national borders.” —Paul Gootenberg, Stony Brook University, author of Andean Cocaine: The Making of a Global Drug When European powers carved political borders across the Middle East following World War I, a curious event in the international drug trade occurred: Palestine became the most important hashish waystation in the region and a thriving market for consumption. British and French colonial authorities utterly failed to control the illicit trade, raising questions about the legitimacy of their mandatory regimes. The creation of the Israeli state, too, had little effect to curb illicit trade. By the 1960s, drug trade had become a major point of contention in the Arab-Israeli conflict, and drug use widespread. Intoxicating Zion is the first book to tell the story of hashish in Mandatory Palestine and Israel. Trafficking, use, and regulation; race, gender, and class; colonialism and nation-building all weave together in Haggai Ram's social history of the drug from the 1920s to the aftermath of the 1967 War. The hashish trade encompassed smugglers, international gangs, residents, law enforcers, and political actors, and Ram traces these flows through the interconnected realms of cross-border politics, economics, and culture. Hashish use was and is a marker of belonging and difference, and its history offers readers a unique glimpse into how the modern Middle East was made. “A fascinating and revelatory tale.” —Ted R. Swedenburg, University of Arkansas “[A] singular, original work of research.” —Yossi Melman, Haaretz “Informative, though (pun intended) sobering, this book is suited for academic libraries.” —Hallie Cantor, Association of Jewish Libraries Reviews
