Covid 19 And The Cpi Is Inflation Underestimated
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Covid 19 And The Cpi Is Inflation Underestimated
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Author : Mr.Marshall B Reinsdorf
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2020-11-05
Covid 19 And The Cpi Is Inflation Underestimated written by Mr.Marshall B Reinsdorf and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-05 with Business & Economics categories.
COVID-19 changed consumers’ spending patterns, making the CPI weights suddenly obsolete. In most regions, adjusting the CPI weights to account for the changes in spending patterns increases the estimate of inflation over the early months of the pandemic. Under-weighting of rising food prices and over-weighting of falling transport prices are the main causes of the underestimation of inflation. Updated CPI weights should be developed as soon as is feasible, but flux in spending patterns during the pandemic complicates the development as quickly as 2021 of weights that represent post-pandemic spending patterns.
The Distributional Implications Of The Impact Of Fuel Price Increases On Inflation
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Author : Mr. Kangni R Kpodar
language : en
Publisher: International Monetary Fund
Release Date : 2021-11-12
The Distributional Implications Of The Impact Of Fuel Price Increases On Inflation written by Mr. Kangni R Kpodar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-12 with Business & Economics categories.
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Updating Inflation Weights In The Uk And Germany During Covid 19
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Author : Mr. Francesco Grigoli
language : en
Publisher: International Monetary Fund
Release Date : 2022-09-30
Updating Inflation Weights In The Uk And Germany During Covid 19 written by Mr. Francesco Grigoli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-09-30 with Business & Economics categories.
The COVID-19 pandemic altered consumption patterns significantly in a short period of time. However, official inflation statistics take time to reflect these changes in the weights of the CPI consumption basket. Using credit card data for the UK and Germany, we document how consumption patterns changed and we quantify the resulting inflation bias. We find that consumers experienced a higher level of inflation at the beginning of the pandemic than what a fixed-weight inflation (or the official-weight) index suggests and a lower inflation thereafter. We also show that weights can differ among age groups as well as between in-person and online spenders. These differences affect the purchasing power of the population heterogeneously. We conclude that CPI inflation indexes based on frequently updated weights can provide useful inputs to assess changes in the cost of living and, if shifts in consumption patterns prove persistent, determine the need to introduce new official weights and inform monetary policy.
Covid 19 And Sovereign Debt The Case Of Sadc
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Author : Daniel D. Bradlow
language : en
Publisher: Pretoria University Law Press
Release Date : 2022-02-23
Covid 19 And Sovereign Debt The Case Of Sadc written by Daniel D. Bradlow and has been published by Pretoria University Law Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-23 with Law categories.
This multi-disciplinary publication focuses on the issue of African sovereign debt management and renegotiation/ restructuring, with a particular concentration on the countries that are members of the Southern Africa Development Community (SADC). It contains a series of essays that were initially presented in several workshops held at the height of the pandemic, in 2020. These essays seek to both understand the debt challenges facing these countries and to offer some policy-oriented suggestions on how they can more effectively address these. They include contributions by global and regional scholars who are seasoned experts and newer researchers and discuss the complexities on debt management and restructuring within the context of the global COVID-19 pandemic. In particular, this presented an opportunity for junior researchers from the region to contribute to international discussions on a topic in which the views of young Africans are not heard as often or as clearly as they should be, especially given the importance of the topic to Africa and its future. Further, this book is expected to stimulate debate among academics, activists, policy makers and practitioners on how SADC should manage its debt.
Distributional Impacts Of Covid 19 In The Middle East And North Africa Region
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Author : Johannes G. Hoogeveen
language : en
Publisher: World Bank Publications
Release Date : 2021-12-20
Distributional Impacts Of Covid 19 In The Middle East And North Africa Region written by Johannes G. Hoogeveen and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-20 with Business & Economics categories.
COVID-19 is one of multiple crises to have hit the Middle East and North Africa (MENA) region in the decade following the Arab Spring. War, oil price declines, economic slowdowns, and now a pandemic are tearing at the social fabric of a region characterized by high rates of unemployment, high levels of informality, and low annual economic growth. The economic costs of the pandemic are estimated at about US$227 billion, and fiscal support packages across MENA are averaging 2.7 percent of GDP, putting pressure on already weak fiscal balances and making a quick recovery challenging. Even before the COVID-19 pandemic, MENA was the only region in the world experiencing increases in poverty and declines in life satisfaction. Distributional Impacts of COVID-19 in the Middle East and North Africa Region investigates how COVID-19 changed the welfare of individuals and households in the region. It does so by relying on phone surveys implemented across the region and complements these with microsimulation exercises to assess the impact of COVID-19 on jobs, income, poverty, and inequality. The two approaches complement and corroborate each other's results, thereby making the findings more robust and richer. This report's results show that, in the short run, poverty rates in MENA will increase significantly and inequality will widen. A group of 'new poor' is likely to emerge that may have difficulty recovering from the economic consequences of COVID-19. The report adds value by analyzing newly gathered primary data, along with projections based on newly modeled micro- and macrosimulations, and by identifying key issues that policy makers should focus on to enable a quick, inclusive, and sustained economic recovery.
On The Inaccuracies Of Economic Observations
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Author : Peter A.G. van Bergeijk
language : en
Publisher: Edward Elgar Publishing
Release Date : 2024-06-05
On The Inaccuracies Of Economic Observations written by Peter A.G. van Bergeijk and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-06-05 with Business & Economics categories.
This informative book reveals the pervasive nature of large inaccuracies in economic statistics. Drawing on numerous real-world examples including case studies from advanced and developing countries, Peter van Bergeijk presents profound insights into how downplaying these errors undermines the scientific rigour of economic analysis and outlines how to manage uncertainty in economic analysis moving forward.
The Palgrave Handbook Of International Communication And Sustainable Development
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Author : Muhammad Jameel Yusha'u
language : en
Publisher: Springer Nature
Release Date : 2021-08-29
The Palgrave Handbook Of International Communication And Sustainable Development written by Muhammad Jameel Yusha'u and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-29 with Social Science categories.
The Palgrave Handbook of International Communication and Sustainable Development is a major resource for stakeholders interested in understanding the role of communication in achieving the UN’S Sustainable Development Goals. Bringing together theoretical and applied contributions from scholars in Europe, Africa, the Middle East, Asia and North America, the handbook argues that communication is a key factor in achieving the global goals and suggests a review of the SDGs to consider its importance. Reflecting on the impact of COVID-19, it highlights the need for effective communication infrastructure and critically assesses the 2030 agenda and timeline. Including individual SDG and country case studies as well as integrated analysis, the chapters seek to enrich understanding of communication for development and propose crucial policy interventions. It is critical reading for researchers as well as policy makers and NGOs.
Indonesia
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-02
Indonesia written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-02 with Business & Economics categories.
Selected Issues
Global Economic Prospects June 2021
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2021-08-03
Global Economic Prospects June 2021 written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-03 with Business & Economics categories.
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Economics In The Age Of Covid 19
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Author : Joshua Gans
language : en
Publisher: MIT Press
Release Date : 2020-05-19
Economics In The Age Of Covid 19 written by Joshua Gans and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-19 with Business & Economics categories.
A guide to the pandemic economy: essential reading about the long-term implications of our current crisis. The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this book, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. He shows that containing the virus and pausing the economy—without letting businesses fail and people lose their jobs—are the necessary first steps.