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2001 (4)

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Book
Physical Capital Adjustment within Spain : Long-Run and Short-Run Analysis
Authors: ---
ISBN: 1462335969 1451993552 1281089737 1451891415 9786613775092 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

This paper considers the adjustment of physical capital within a country in the long run and in the short run. It uses a unique data set on income, labor, human capital, and private and public physical capital in the Spanish regions over the past two decades. In the long run, the movement of physical capital is consistent with its estimated relative rates of return. In the short run, an adverse shock to a region results in a sharp drop in employment and a gradual decline of physical capital; the system returns to its initial capital/labor ratio after four years. The sharp drop in employment is consistent with the view that wages are rigid. The analysis of adjustment in the short run relies on a vector autoregression methodology in which shocks are identified as the interaction between oil prices and the share of manufacturing in a region’s employment.


Book
Job Creation : Why Some Countries Do Better
Authors: ---
ISBN: 1462340164 1452777616 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,


Book
Macroeconomic policies and poverty reduction: stylized facts and an overview of research
Authors: --- ---
Year: 2001 Publisher: Washington (D.C.): International monetary fund,

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Macroeconomic Policies and Poverty Reduction : Stylized Facts and an Overview of Research
Authors: --- --- ---
ISBN: 1462319629 1452719942 1282049763 9786613798060 1451900880 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

This paper provides a brief and selective overview of research on the links between macroeconomic policies and poverty reduction. Using the Human Development Index as a measure of well-being, the progress made by 100 countries during 1975–98 is presented, and its association with macroeconomic factors is explored. Several potential avenues for future research are also outlined.

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