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A bilateral search model of the commodity market is formulated to study the effects of liberalizing prices in a reforming socialist economy. The main result is that if the competitive structure of the economy is not quickly modified to eliminate supply rents, price liberalization may be accompanied by substantial output losses. A role for tax policy in limiting output losses is identified.

Macroeconomics --- Socialist Systems and Transitional Economies: Prices --- Market Structure and Pricing: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Consumption --- Economics

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This paper applies a search matching model with firing restrictions to examine whether the existence of firing restrictions affects the outcome of the matching process and the natural rate of unemployment in Tunisia. The paper concludes that the removal of firing restrictions is likely to produce a favorable but limited impact on unemployment in Tunisia.

Electronic books. -- local. --- Labor laws and legislation -- Tunisia. --- Unemployment -- Tunisia -- Econometric models. --- Labor --- Production and Operations Management --- Unemployment: Models, Duration, Incidence, and Job Search --- Demand and Supply of Labor: General --- Labor Demand --- Labor Contracts --- Macroeconomics: Production --- Labour --- income economics --- Macroeconomics --- Unemployment --- Labor markets --- Job creation --- Employment protection --- Productivity --- Labor market --- Manpower policy --- Industrial productivity --- Tunisia

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This paper proposes a market solution to enhance the role of the financial sector in the green transition. Developing a secondary market for “brown exposures” can allow banks to dispose more quickly of stranded assets thereby increasing their capacity to finance green investments. Furthermore, newly created instruments – the brown assets backed securities (B-ABS) - can expand the diversification opportunities for specialized green investors and, thus, attract additional resources for new green investments. The experience of the secondary market for non-performing loans suggests that targeted policy and regulatory measures can simultaneously support the development of the secondary market for brown assets and green finance.

Macroeconomics --- Economics: General --- Environmental Economics --- Industries: Financial Services --- Finance: General --- Environmental Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Debt --- Debt Management --- Sovereign Debt --- Climate --- Natural Disasters and Their Management --- Global Warming --- Environmental Economics: General --- General Financial Markets: General (includes Measurement and Data) --- Environmental Economics: Government Policy --- Economic & financial crises & disasters --- Economics of specific sectors --- Green finance / sustainable finance --- Finance --- Climate change --- Environmental policy & protocols --- Climate finance --- Environment --- Nonperforming loans --- Financial institutions --- Securities markets --- Financial markets --- Climate policy --- Currency crises --- Informal sector --- Economics --- Climatic changes --- Loans --- Capital market --- Environmental policy --- Italy

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Many countries in the Middle East and North Africa (MENA) region have recently experienced surges in money growth that apparently have not generated significant inflationary pressures. Moreover, several MENA countries have followed monetary policy rules that according to standard monetary theory should have produced macroeconomic instability and possibly hyperinflation. We argue that the Fiscal Theory of the Price Level could usefully provide insights on these developments. Our main conclusion is that a sound fiscal position constitutes a necessary condition for macroeconomic stability whereas "sound" monetary policy is neither sufficient nor necessary. Hence, fiscal policy and public debt deserve particular attention for maintaining macroeconomic stability, by and large consistent with Fund policy advice to MENA countries.

Debts, Public -- Africa, North. --- Debts, Public -- Middle East. --- Electronic books. -- local. --- Fiscal policy -- Africa, North. --- Fiscal policy -- Middle East. --- Inflation (Finance) -- Africa, North. --- Inflation (Finance) -- Middle East. --- Political Science --- Law, Politics & Government --- Public Finance --- Debts, Public --- Fiscal policy --- Inflation (Finance) --- Tax policy --- Taxation --- Debts, Government --- Government debts --- National debts --- Public debt --- Public debts --- Sovereign debt --- Government policy --- Finance --- Natural rate of unemployment --- Economic policy --- Finance, Public --- Debt --- Bonds --- Deficit financing --- Inflation --- Money and Monetary Policy --- Price Level --- Deflation --- Fiscal Policy --- Debt Management --- Sovereign Debt --- Demand for Money --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Macroeconomics --- Monetary economics --- Public finance & taxation --- Demand for money --- Monetary base --- Prices --- Money --- Money supply --- Lebanon

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In this paper we discuss fiscal and monetary policy issues facing heavily-indebted poor countries (HIPCs) who receive debt reduction via the enhanced HIPC initiative. This debt relief program is distinguished from previous ones by its conditionality: freed resources must be used for poverty reduction. We argue that (i) this conditionality severely limits the extent to which the initiative provides significant debt relief; (ii) depending on the response of monetary policy to an increase in social spending there could be a short-run increase in inflation in HIPC countries and (iii) the keys to long-run fiscal sustainability in the HIPCs are significant fiscal reforms by their governments, and the effectiveness of their poverty reduction programs in raising growth.