France Selected Issues

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 145188009X
Size: 37.18 MB
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The growth rate of real hourly wages in France has fallen below the trend growth rate of total factor productivity. The distribution of wage and earnings growth has not been uniform across deciles. A breakdown in employment growth by wage deciles also suggests important composition changes. The development of key labor market variables has been discussed in this note. Microeconometric estimations provide evidence of an outward shift in the relationship between wages and unemployment that is independent of changes in labor demand taxes and unemployment income.

France Selected Issues

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1513518828
Size: 45.10 MB
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This Selected Issues paper analyzes expenditure reforms in France. After decades of rising public spending and successive tax increases, the medium-term fiscal consolidation path described in the 2015 Stability Program is now fully expenditure based. However, recent efforts of nominal spending containment have not delivered the intended savings in the context of low growth and inflation. A thorough review of the efficiency of public spending could help prepare more fundamental reforms of spending programs and processes to underpin a lasting reduction in expenditures, which reached a record high of 57.2 percent of GDP in 2014.

France Selected Issues

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Size: 14.63 MB
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This Selected Issues paper reviews developments in health care spending in France and discusses the recent measures to improve the functioning of the system and contain costs. It argues that by addressing many of the issues that had bedeviled past reforms, the new measures offer a reasonable hope of containing France’s health expenditures. The paper presents a brief review of the institutional background and of past trends in health care spending and also offers an analysis of the major forces behind the recent and projected growth in expenditure.

France

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1452747830
Size: 56.51 MB
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U.S. shocks explain a large part of French output common components. This paper analyzes the economic implications of two alternative welfare financing reforms: a reduction in payroll taxes funded by an increase in consumption taxes, and the other funded by a new levy on business value added. The importance of financial market constraints and whether the recent mortgage market reform is likely to ease these constraints is assessed. Rechargeable mortgages are attractive and encourage collateralization, but bolder measures are needed to limit legal and other fees.

France

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484361261
Size: 36.33 MB
Format: PDF, ePub, Mobi
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This Selected Issues paper examines external developments and competitiveness in France. Over the past decade, the current account has deteriorated from a surplus of 1.2 percent of GDP in 2002 to a deficit of about 2.3 percent in 2012, as France lost ground in goods trade and services recorded just a slight increase in global market shares. The slight improvement of the trade deficit seen in 2012 may suggest a change in trend, although it is still too early to determine. Past deterioration in export performance points to competitiveness weaknesses, rooted in significant rigidities in labor and product markets.

Japan

Author:
Publisher: International Monetary Fund
ISBN:
Size: 50.52 MB
Format: PDF, ePub, Mobi
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United Kingdom Selected Issues

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498380808
Size: 57.32 MB
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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Sudan Selected Issues

Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1484365593
Size: 52.13 MB
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This Selected Issues paper examines the monetary policy framework in Sudan, and assesses the effectiveness of monetary transmission mechanism since the secession of South Sudan. The econometric analysis concludes that reserve money, the exchange rate, and private sector credit are the main determinants of inflation after the secession of South Sudan and that the transmission lags have been shortened significantly compared with previous studies. These findings reinforce the need for a comprehensive package of fiscal and monetary measures that strengthens the monetary policy framework and improves its effectiveness.