Finance & Development, September 2011.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. External Relations Department.

Series:

Finance & Development; Finance & Development ; No. 0048/003

Finance & Development

Language:

English

Subjects (All):

Distribution (Economic theory).

Economic stabilization--International cooperation.

Economic stabilization.

International economic relations.

International finance.

Physical Description:

1 online resource (59 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2011.

Language Note:

English

Summary:

All for One examines inequality and the many ways it matters. In our overview article, the World bank's Branko Milanovic explains how income inequality is measured and tells us that it's increased in most countries. The good news, he says, is that global inequality--between countries--could be on the downturn. IMF economists Andrew Berg and Jonathan Ostry find that a more equal society has a greater likelihood of sustaining longer-term growth. Other IMF research on inequality finds that financial sector development not only 'enlarges the pie' by supporting economic growth but divides it more evenly; that higher income inequality in developed countries is associated with higher indebtedness--at home and abroad; and that while fiscal consolidation is necessary in the medium term, slamming on the brakes too quickly can harm jobs and cut wages, exacerbating inequality. Also in this issue, we profile Elinor Ostrom, the first woman to receive the Nobel Prize for economics. In a tour of the globe, we look at how the African diaspora can help their home countries from afar, try to draw some early lessons from the euro area's debt crisis, investigate how the United States and its neighbor Canada handled public debt--with different results, and find out about the rise of emerging markets as systemically important trading centers. Back to Basics explains the difference between micro- and macroeconomics, and Data Spotlight tells us about a new worldwide survey of foreign direct investment.

Contents:

Cover; Contents; WHY INEQUALITY THROWS US OFF BALANCE; More or Less: Income inequality has risen over the past quarter-century instead of falling as expected; Equality and Efficiency: Is there a trade-off between the two or do they go hand in hand?; A Bigger Slice of a Growing Pie: Developing the financial sector accelerates economic growth and can enhance income equality; Painful Medicine: Although advanced economies need medium-run fiscal consolidation, slamming on the brakes too quickly will hurt incomes and job prospects

Unemployed in Europe: The most vulnerable Europeans were also the most susceptible to losing their jobs, which exacerbated inequality in the regionUnequal = Indebted: Higher income inequality in developed countries is associated with higher domestic and foreign indebtedness; Picture This: Inequality over the Past Century: After declining in the first half of the 20th century, income inequality makes a comeback; ALSO IN THIS ISSUE; Fiscal Neighbors: Canada and the United States confronted growing budget deficits and public debt but the results differed

Municipal Fallout: U.S. state bond markets are not insulated from each other but are from the federal bond marketDiffering Benefits: Financial development does not give the same growth boost to all countries; Unconventional Behavior: Innovative balance sheet policies of central banks helped during the recession, but they should be used only in exceptional circumstances

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF cover (ebrary, viewed September 24, 2014).

ISBN:

9786613847515

9781463917913

1463917910

9781463974985

1463974981

9781283535069

1283535068

9781463978921

1463978928