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Young people, hardest hit by the global economic downturn, are speaking out and demanding change. F&D looks at the need to urgently address the challenges facing youth and create opportunities for them. Harvard professor David Bloom lays out the scope of the problem and emphasizes the importance of listening to young people in "Youth in the Balance." "Making the Grade" looks at how to teach today's young people what they need to get jobs. IMF Deputy Managing Director, Nemat Shafik shares her take on the social and economic consequences of youth unemployment in our "Straight Talk" column. "Scarred Generation" looks at the effects the global economic crisis had on young workers in advanced economies, and we hear directly from young people across the globe in "Voices of Youth." Renminbi's rise, financial system regulation, and boosting GDP by empowering women. Also in the magazine, we examine the rise of the Chinese currency, look at the role of the credit rating agencies, discuss how to boost the empowerment of women, and present our primer on macroprudential regulation, seen as increasingly important to financial stability. People in economics - C. Fred Bergsten, American Globalist Back to basics - The multi-dimensional role of banks in our financial systems.

Finance: General --- Labor --- Macroeconomics --- Money and Monetary Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Education: General --- Economics of Gender --- Non-labor Discrimination --- Unemployment: Models, Duration, Incidence, and Job Search --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Finance --- Labour --- income economics --- Education --- Monetary economics --- Gender studies --- women & girls --- Credit rating agencies --- Women --- Unemployment --- Credit ratings --- Money --- United States --- Income economics --- Women & girls

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Japan's potential growth rate is steadily falling with the aging of its population. This paper explores the extent to which raising female labor participation can help slow this trend. Using a cross-country database we find that smaller families, higher female education, and lower marriage rates are associated with much of the rise in women's aggregate participation rates within countries over time, but that policies are likely increasingly important for explaining differences across countries. Raising female participation could provide an important boost to growth, but women face two hurdles in participating in the workforce in Japan. First, few working women start out in career-track positions, and second, many women drop out of the workforce following childbirth. To increase women’s attachment to work Japan should consider policies to reduce the gender gap in career positions and to provide better support for working mothers.

Women --- Employment --- Human females --- Wimmin --- Woman --- Womon --- Womyn --- Females --- Human beings --- Femininity --- E-books --- Labor --- Macroeconomics --- Women''s Studies' --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labor Economics Policies --- Labor Force and Employment, Size, and Structure --- Time Allocation and Labor Supply --- Labor Discrimination --- Economics of Gender --- Non-labor Discrimination --- Labor Economics: General --- Education: General --- Demand and Supply of Labor: General --- Gender studies --- women & girls --- Labour --- income economics --- Education --- Labor markets --- Gender --- Labor force --- Labor economics --- Labor market --- Economic theory --- Japan --- Income economics --- Women & girls --- Women's Studies

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This paper examines the macroeconomic interaction between informality and gender inequality in the labor market. A dynamic stochastic general equilibrium model is built to study the impact of gender-targeted policies on female labor force participation, female formal employment, gender wage gap, as well as on aggregate economic outcomes. The model is estimated using Bayesian techniques and Indian data. Although these policies are found to increase female labor force participation and output, lack of sufficient formal job creation due to labor market rigidities leads to an increase in unemployment and informality, and further widens gender gaps in formal employment and wages. Simultaneously implementing such policies with formal job creating policies helps remove these adverse impacts while also leading to significantly larger gains in output.

Labor market --- Sex discrimination in employment --- Women --- Employees --- Market, Labor --- Supply and demand for labor --- Markets --- Employment --- Supply and demand --- Macroeconomics --- Economics --- E-books --- Labor --- Women''s Studies' --- Gender Studies --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Informal Economy --- Underground Econom --- Economics of Gender --- Non-labor Discrimination --- Labor Discrimination --- Economic Development: Human Resources --- Human Development --- Income Distribution --- Migration --- Demand and Supply of Labor: General --- Labor Economics: General --- Gender studies --- women & girls --- Labour --- income economics --- Social discrimination & equal treatment --- Gender studies, gender groups --- Gender inequality --- Labor markets --- Labor supply --- Gender diversity --- Gender --- Sex discrimination --- Sex role --- Labor economics --- India --- Income economics --- Women & girls --- Women's Studies

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The linearity of the relationship between income inequality and economic development has been long questioned. While theory provides arguments for which the shape of relationship may be positive for low levels of inequality and negative for high ones, most of the empirical literature assumes a linear specification finding conflicting results. Employing an innovative empirical approach robust to endogeneity, we find pervasive evidence of nonlinearities. In particular, similar to the debt overhang literature, we identify an inequality overhang level in that the slope of the relationship between income inequality and economic development switches from positive to negative at a net Gini of about 27 percent. We also find that in an environment characterized by widespread financial inclusion and high income concentration, rising income inequality has a larger negative impact on economic development because banks may curtail credit to customers at the lower end of the income distribution. On the positive side, a sufficiently high female labor participation can act as a shock absorber reducing such negative impact, possibly through a more efficient allocation of resources.

Econometric models. --- Econometrics --- Mathematical models --- Finance: General --- Macroeconomics --- Women''s Studies' --- Aggregate Factor Income Distribution --- Labor Economics: General --- Personal Income, Wealth, and Their Distributions --- Economics of Gender --- Non-labor Discrimination --- Financial Markets and the Macroeconomy --- Economic Development: Human Resources --- Human Development --- Income Distribution --- Migration --- Economic Growth and Aggregate Productivity: General --- Labour --- income economics --- Gender studies --- women & girls --- Finance --- Income inequality --- Labor --- Personal income --- Women --- Financial inclusion --- National accounts --- Gender --- Financial markets --- Income distribution --- Labor economics --- Income --- Financial services industry --- Argentina --- Income economics --- Women & girls --- Women's Studies

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Women across the world remain an underutilized resource in the labor force. Participation in the labor force averages around 80 percent for men but only 50 percent for women – nearly half of women’s productive potential remains untapped compared to one-fifth for men. Latin America and the Caribbean (LAC), as a region, saw the largest gains in female labor force participation (LFP) in the world during the last two decades. Women in LAC are becoming increasingly active in paid work, closing the gap with men and catching up to their counterparts in advanced economies at an impressive rate. In this paper, we document the recent trends in female LFP and female education in the LAC region, discuss the size of potential gains to GDP from increasing female LFP and policies which could be deployed towards this goal.

Labor supply --- Women --- Human females --- Wimmin --- Woman --- Womon --- Womyn --- Females --- Human beings --- Femininity --- Economic aspects. --- Economic conditions. --- Economic aspects --- Economic conditions --- E-books --- Labor --- Women''s Studies' --- Gender Studies --- Economics of Gender --- Non-labor Discrimination --- Demand and Supply of Labor: General --- Particular Labor Markets: General --- Particular Labor Markets: Public Policy --- Labor Standards: Labor Force Composition --- Education: General --- Gender studies --- women & girls --- Social discrimination & equal treatment --- Labour --- income economics --- Education --- Gender studies, gender groups --- Gender inequality --- Labor force participation --- Gender diversity --- Gender --- Sex discrimination --- Labor market --- Sex role --- Mexico --- Income economics --- Women & girls --- Women's Studies