Short Run Pain Long Run Gain
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Short Run Pain Long Run Gain
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Author : Mr.Sergio L. Schmukler
language : en
Publisher: International Monetary Fund
Release Date : 2003-02-01
Short Run Pain Long Run Gain written by Mr.Sergio L. Schmukler 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 2003-02-01 with Business & Economics categories.
We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock market prices. Our results indicate that financial liberalization is followed by more pronounced boom-bust cycles in the short run. However, financial liberalization leads to more stable markets in the long run. Finally, we analyze the sequencing of liberalization and institutional reforms to understand the contrasting short- and long-run effects of liberalization.
Short Run Pain Long Run Gain
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Author : Graciela Kaminsky
language : en
Publisher:
Release Date : 2010
Short Run Pain Long Run Gain written by Graciela Kaminsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
The views on financial liberalization are quite conflictive. Many argue that it triggers financial bubbles and crises. Others claim that financial liberalization allows markets to function properly and capital to move to its most profitable destination. The empirical evidence on these effects is not robust. This paper constructs a new comprehensive chronology of financial liberalization and shows that a key reason for the inconclusive evidence is that the effects of liberalization are time-varying. Financial liberalization is followed by large booms and busts only in the short run. In the long run institutions improve and financial markets tend to stabilize.
Short Run Pain Long Run Gain
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Author : Graciela Laura Kaminsky
language : en
Publisher:
Release Date : 2008
Short Run Pain Long Run Gain written by Graciela Laura Kaminsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Electronic book categories.
Long Term Gain Short Term Pain
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Author : Marika Santoro
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-29
Long Term Gain Short Term Pain written by Marika Santoro 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 2015-12-29 with Business & Economics categories.
In this paper, I study the potential economic impact of the 2015-18 structural reform agenda in Chile, using the IMF dynamic general equilibrium model (GIMF). I find that the agenda has the potential to significantly increase Chile’s long-run GDP, although it may have some negative effects in the short term. Ensuring a smooth transition to a higher productive potential depends on three key dimensions: the credibility of the reforms, their effectiveness in closing structural gaps, and their speed of implementation. Badly designed reforms that remove only a very small fraction of the existing structural gaps, at a slow speed, and with little credibility, can greatly reduce the positive impact of the reform agenda on GDP.
Budget Consolidation
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Author : Mr.Douglas Laxton
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01
Budget Consolidation written by Mr.Douglas Laxton 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 2010-07-01 with Business & Economics categories.
The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global DSGE model GIMF. Over the longer run, well-targeted permanent reductions in budget deficits lead to a considerable increase in both the growth rate and the level of output. The gains may be enhanced by shifting some of the tax burden from incomes to consumption. In the short run, credibility plays a crucial role in determining the size of initial output loses. Global current account imbalances would be significantly reduced if budget consolidation was larger in countries with current account deficits.
Runner S World Run Less Run Faster
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Author : Bill Pierce
language : en
Publisher: Rodale Books
Release Date : 2021-01-19
Runner S World Run Less Run Faster written by Bill Pierce and has been published by Rodale Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-19 with Sports & Recreation categories.
Finally, runners at all levels can improve their race times while training less, with the revolutionary Furman Institute of Running and Scientific Training (FIRST) program. Hailed by the Wall Street Journal and featured twice in six months in cover stories in Runner's World magazine, FIRST's unique training philosophy makes running easier and more accessible, limits overtraining and burnout, and substantially cuts the risk of injury, while producing faster race times. The key feature is the "3 plus 2" program, which each week consists of: -3 quality runs, including track repeats, the tempo run, and the long run, which are designed to work together to improve endurance, lactate-threshold running pace, and leg speed -2 aerobic cross-training workouts, such as swimming, rowing, or pedaling a stationary bike, which are designed to improve endurance while helping to avoid burnout With detailed training plans for 5K, 10K, half marathon, and marathon, plus tips for goal-setting, rest, recovery, injury rehab and prevention, strength training, and nutrition, this program will change the way runners think about and train for competitive races. Amby Burfoot, Runner's World executive editor and Boston Marathon winner, calls the FIRST training program "the most detailed, well-organized, and scientific training program for runners that I have ever seen."
Governing For The Long Term
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Author : Alan M. Jacobs
language : en
Publisher: Cambridge University Press
Release Date : 2011-03-28
Governing For The Long Term written by Alan M. Jacobs and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03-28 with Political Science categories.
In Governing for the Long Term, Alan M. Jacobs investigates the conditions under which elected governments invest in long-term social benefits at short-term social cost. Jacobs contends that, along the path to adoption, investment-oriented policies must surmount three distinct hurdles to future-oriented state action: a problem of electoral risk, rooted in the scarcity of voter attention; a problem of prediction, deriving from the complexity of long-term policy effects; and a problem of institutional capacity, arising from interest groups' preferences for distributive gains over intertemporal bargains. Testing this argument through a four-country historical analysis of pension policymaking, the book illuminates crucial differences between the causal logics of distributive and intertemporal politics and makes a case for bringing trade-offs over time to the center of the study of policymaking.
Why Leadership Sucks Tm
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Author : Miles Anthony Smith
language : en
Publisher: Kompelling Publishing
Release Date : 2012-11
Why Leadership Sucks Tm written by Miles Anthony Smith and has been published by Kompelling Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11 with Business & Economics categories.
Part of NWTC's Talent Development collection.
Should We Fear The Robot Revolution The Correct Answer Is Yes
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Author : Mr.Andrew Berg
language : en
Publisher: International Monetary Fund
Release Date : 2018-05-21
Should We Fear The Robot Revolution The Correct Answer Is Yes written by Mr.Andrew Berg 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 2018-05-21 with Business & Economics categories.
We may be on the cusp of a “second industrial revolution” based on advances in artificial intelligence and robotics. We analyze the implications for inequality and output, using a model with two assumptions: “robot” capital is distinct from traditional capital in its degree of substitutability with human labor; and only capitalists and skilled workers save. We analyze a range of variants that reflect widely different views of how automation may transform the labor market. Our main results are surprisingly robust: automation is good for growth and bad for equality; in the benchmark model real wages fall in the short run and eventually rise, but “eventually” can easily take generations.
Financial Repression Is Knocking At The Door Again
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Author : Mr.Etibar Jafarov
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-30
Financial Repression Is Knocking At The Door Again written by Mr.Etibar Jafarov 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 2019-09-30 with Business & Economics categories.
Financial repression (legal restrictions on interest rates, credit allocation, capital movements, and other financial operations) was widely used in the past but was largely abandoned in the liberalization wave of the 1990s, as widespread support for interventionist policies gave way to a renewed conception of government as an impartial referee. Financial repression has come back on the agenda with the surge in public debt in the wake of the Global Financial Crisis, and some countries have reintroduced administrative ceilings on interest rates. By distorting market incentives and signals, financial repression induces losses from inefficiency and rent-seeking that are not easily quantified. This study attempts to assess some of these losses by estimating the impact of financial repression on growth using an updated index of interest rate controls covering 90 countries over 45 years. The results suggest that financial repression poses a significant drag on growth, which could amount to 0.4-0.7 percentage points.