Source: International Monetary Fund

Articles from this source (7)

This Is Going to Hurt: Weather Anomalies, Supply Chain Pressures and Inflation

  2024-04-09 (or before) by in International Monetary Fund

As climate change accelerates, the frequency and severity of extreme weather events are expected to worsen and have greater adverse consequences for ecosystems, physical infrastructure, and economic activity across the world. This paper investigates how weather anomalies affect global supply chains and inflation dynamics. Using monthly data for six large and well-diversified economies (China, the Euro area, Japan, Korea, the United Kingdom, and the United States) over the period 1997-2021, we implement a structural vector autoregressive model and document that weather anomalies could disrupt supply chains and subsequently lead t...

  Tagged under: Japan

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Rethinking Economics or Rethinking My Economics by Angus Deaton

  2024-03-14 (or before) in International Monetary Fund

Questioning one’s views as circumstances evolve can be a good thing

  Tagged under: Economics

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Benefits of Accelerating the Climate Transition Outweigh the Costs

  2024-02-26 (or before) in International Monetary Fund

Climate Change Indicators Dashboard shows that avoiding physical damage from climate change can have sizable benefits.

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Fossil Fuel Subsidies Surged to Record $7 Trillion

  2023-08-25 (or before) in International Monetary Fund

Scaling back subsidies would reduce air pollution, generate revenue, and make a major contribution to slowing climate change

  Tagged under: Climate Change

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Fossil Fuel Subsidies

  2022-05-25 (or before) in International Monetary Fund

Subsidies are intended to protect consumers by keeping prices low, but they come at a high cost. Subsidies have sizable fiscal costs (leading to higher taxes/borrowing or lower spending), promote inefficient allocation of an economy’s resources (hindering growth), encourage pollution (contributing to climate change and premature deaths from local air pollution), and are not well targeted at the poor (mostly benefiting higher income households). Removing subsidies and using the revenue gain for better targeted social spending, reductions in inefficient taxes, and productive investments can promote sustainable and equitable ...

  Tagged under: Economics | Climate Change

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Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature

  2019-10-11 (or before) by in International Monetary Fund

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is ...

  Tagged under: Economics | Greenhouse Gases | Climate Change | Climate Change Mitigation

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IMF Survey : Counting the Cost of Energy Subsidies

  2018-12-27 (or before) in International Monetary Fund

Energy subsidies are projected at US$5.3 trillion in 2015, or 6.5 percent of global GDP, according to a recent IMF study. Most of this arises from countries setting energy taxes below levels that fully reflect the environmental damage associated with energy consumption.

  Tagged under: Economic Growth

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