Berkeley’s Gabriel Zucman is a strong advocate for higher taxes on the most affluent, writes Prakash Loungani of Johns Hopkins University in a People in Economics profile for F&D magazine. “Realizing the magnitude of offshore wealth and the extent of tax evasion radicalized me,” Zucman says. “We have to fix the mistakes we’ve made in taxing the superrich, not simply throw up our hands and give them a free pass.” https://lnkd.in/eppF3jvW
International Monetary Fund
International Trade and Development
Washington, DC 839,446 followers
190 member countries working together to improve lives through global growth and economic stability.
About us
The International Monetary Fund has a key position in promoting the health of the world economy. Established in 1944 as a part of the United Nations system, the IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to buy goods and services from each other. This is essential for sustainable economic growth and rising living standards. To maintain stability and prevent crises in the international monetary system, the IMF conducts surveillance of national, regional, and global economic and financial developments. It provides advice to its 190 member countries, encouraging them to adopt policies that foster economic stability, reduce their vulnerability to economic and financial crises, and raise living standards. The IMF also serves as a forum where its global membership can discuss the national, regional, and global consequences of their policies. The IMF makes financing temporarily available to member countries to help them address balance of payments problems—that is, when they find themselves short of foreign exchange to meet their payments to other countries. Finally, the IMF provides countries with training to help them build the expertise and institutions they need for economic stability and growth. Supporting all of these activities is the institution's work in economic research and statistics.
- Website
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https://imf.org/
External link for International Monetary Fund
- Industry
- International Trade and Development
- Company size
- 1,001-5,000 employees
- Headquarters
- Washington, DC
- Type
- Government Agency
- Founded
- 1945
- Specialties
- economics, financial, and global economy
Locations
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Primary
700 19th Street N.W.
Washington, DC 20431, US
Employees at International Monetary Fund
Updates
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In this edition of the Weekend Read, we highlight the September issue of F&D, which brings together leading researchers to help explain the withering of productivity gains, how to counter these trends, and how to spark economic dynamism. We discuss how federal rate cuts may reinvigorate bond flows to emerging economies, the increasing number of women leading central banks, the appointment of Jamaica's Nigel Clarke as the new IMF Deputy Managing Director, Nicholas Bloom's insights on remote work and its impact on growth, and more. This week's key message: As populations age, sustained economic growth hinges on productivity gains
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Innovation-led growth has slowed sharply since the 1970s, with serious consequences for our economies and societies, writes Nobel laureate Edmund Phelps in F&D. https://lnkd.in/ekfHVxuE
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Every continent's economic future depends on a stable international system and multilateral order, Gordon Brown, former UK prime minister, writes in F&D. https://lnkd.in/eq_ZB_dj
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Capital flows to emerging markets and developing economies went through several boom-bust cycles in recent decades, often partly driven by external developments such as monetary policy decisions in major advanced economies. Our new Chart of the Week blog highlights how sharply higher US Treasury yields drove a slump in Eurobond issuance by emerging and developing economies in 2022-23. But Fed rate cuts may now help revive bond flows to these economies. Learn more: https://lnkd.in/eaKTEQsg
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Why isn't increased R&D spending resulting in more American innovation? University of Chicago economist Ufuk Akcigit analyzes the American innovation paradox—that more R&D spending hasn't helped expand productivity. He finds that there's more nuance to encouraging innovation than throwing money at it. Policymakers must encourage a more inclusive innovation ecosystem by providing more support for small businesses, he writes in F&D magazine. https://lnkd.in/ecrP_79G
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Yale economist Michael Peters analyzes slowing US productivity growth in F&D. He traces the causes to shrinking population and the rise of IT giants. The solutions he proposes are unfashionable: expanding immigration and stepping up antitrust enforcement to encourage competition and innovation. https://lnkd.in/dWWuHf6s
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Saudi Arabia 🇸🇦 experienced robust non-oil growth of 3.8 percent in 2023, driven mostly by private consumption and investment. Still, the economy contracted by 0.8 percent, reflecting lower oil output and voluntary oil production cuts. Maintaining reform momentum will be key to attract foreign direct investment and enhance private sector development, which will help foster a more inclusive and green economy. Our latest health check of Saudi's economy explains: https://lnkd.in/djziCvEA
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“Productivity isn’t everything,” Nobel laureate economist Paul Krugman once wrote, “but in the long run it is almost everything.” Productivity is the foundation of prosperity. The only way a country can raise its standard of living sustainably is to produce more with existing or fewer resources. You cannot do that without improving productivity. It’s that simple. Read F&D editor-in-chief Gita Bhatt's letter. https://lnkd.in/dSv8rASN
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