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The study presents an analysis of the information content of IMF’s Data Quality Assessment Framework (DQAF) indicators. There are significant differences in the quantity of information between DQAF dimensions and sub-dimensions. The most informative DQAF dimension is accessibility, followed by the prerequisites of quality and accuracy and reliability. The least informative DQAF dimensions are serviceability and assurances of integrity. The implication of these findings is that the current DQAF indicators do not maximize the amount of information that could be obtained during data ROSC missions. An additional set of assessments that would refine the existing DQAF indicators would be beneficial in maximizing the information gathered during data ROSC mission. The entropy of DQAF indicators could also be used in the construction of a cardinal index of data quality.

Financial disclosure. --- Information theory in economics. --- Disclosure of information. --- Information, Disclosure of --- Truthfulness and falsehood --- Economic cybernetics --- Econometrics --- Disclosure of personal finances --- Government in the sunshine --- Sunshine, Government in the --- Disclosure of information --- Macroeconomics --- Statistics --- Specific Distributions --- Econometric and Statistical Methods: Special Topics: Other --- Data Collection and Data Estimation Methodology --- Computer Programs: General --- Computer Programs: Other --- Price Level --- Inflation --- Deflation --- Data capture & analysis --- Econometrics & economic statistics --- Data Quality Assessment Framework (DQAF) --- Financial statistics --- Monetary statistics --- Government finance statistics --- Consumer price indexes --- Economic statistics --- Finance --- Economic indicators --- Price indexes

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The multipliers of taxes, and government consumption and investment expenditure for the Eastern Caribbean Currency Union (ECCU) are estimated using vector autoregression models with panel data. The impact and long-run multipliers are below unity, suggesting that a great extent of the intended impulse ends up expanding imported demand. The long-run multipliers of taxes and consumption expenditure are non-different from zero statistically, while public investment has a long-run multiplier of 0.6. The results suggest that countercyclical policies to stimulate growth should focus on public investment.

Multiplier (Economics) --- Fiscal policy --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Economic multiplier --- Economics --- Income --- National income --- Circular velocity of money --- Government policy --- Eastern Caribbean Currency Union. --- ECCU --- Macroeconomics --- Public Finance --- National Government Expenditures and Related Policies: General --- Fiscal Policy --- Taxation, Subsidies, and Revenue: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Public finance & taxation --- Expenditure --- Revenue administration --- Public investment spending --- Fiscal multipliers --- Expenditures, Public --- Revenue --- Public investments --- United States

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Central banks often buy or sell reserves-–-so called FX interventions (FXIs)---to dampen sharp exchange rate movements caused by volatile capital flows. At the same time, these interventions may entail unintended side effects. In this paper, we investigate whether FXIs incentivize firms to take on more unhedged FX debt, thereby increasing medium-term corporate vulnerabilities. Using a novel dataset with close to 5,000 nonfinancial firms across 19 emerging markets covering 2002--2017, we find that the firm-level share of FX debt rises following intensive use of FXIs, particularly for non-exporting firms in shallow financial markets with no FX debt to begin with. The magnitude of this effect is economically significant, with one standard deviation increase in FXI leading to an average 2 percentage points increase in the FX debt share. For reference, the median share of FX debt in the sample is zero.

Foreign Exchange --- Money and Monetary Policy --- International Lending and Debt Problems --- Portfolio Choice --- Investment Decisions --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Currency --- Foreign exchange --- Monetary economics --- Exchange rate arrangements --- Exchange rates --- Currencies --- Exchange rate flexibility --- Money --- United States

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Healthcare in the United States is the most expensive in the world, with real per capita spending growth averaging 4 percent since 1980. This paper examines the role of market power of U.S. healthcare providers and pharmaceutical companies. It finds that markups (the ability to charge prices above marginal costs) for publicly listed firms in the U.S. healthcare sector have almost doubled since the early 1980s and that they explain up to a quarter of average annual real per capita healthcare spending growth. The paper also finds evidence that the Affordable Care Act and Medicaid expansion were successful in raising coverage and expanding care, but may have had the undesirable side-effect of leading to labor cost increases: Hourly wages for healthcare practitioners are estimated to have increased by 2 to 3 percent more in Medicaid expansion states over a five-year period, which could be an indication that the supply of medical services is relatively inelastic, even over a long time horizon, to the boost to demand created by the Medicaid expansion. These findings suggest that promoting more competition in healthcare markets and reducing barriers to entry can help contain healthcare costs.

Macroeconomics --- Economics: General --- Labor --- Industries: Financial Services --- Insurance --- Finance: General --- Analysis of Health Care Markets --- Health: Government Policy --- Regulation --- Public Health --- Market Structure and Pricing: Oligopoly and Other Forms of Market Imperfection --- Wages, Compensation, and Labor Costs: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Insurance Companies --- Actuarial Studies --- General Financial Markets: General (includes Measurement and Data) --- Economic & financial crises & disasters --- Economics of specific sectors --- Labour --- income economics --- Finance --- Insurance & actuarial studies --- Insurance companies --- Financial institutions --- Labor costs --- Currency crises --- Informal sector --- Economics --- Economic theory --- United States

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Healthcare in the United States is the most expensive in the world, with real per capita spending growth averaging 4 percent since 1980. This paper examines the role of market power of U.S. healthcare providers and pharmaceutical companies. It finds that markups (the ability to charge prices above marginal costs) for publicly listed firms in the U.S. healthcare sector have almost doubled since the early 1980s and that they explain up to a quarter of average annual real per capita healthcare spending growth. The paper also finds evidence that the Affordable Care Act and Medicaid expansion were successful in raising coverage and expanding care, but may have had the undesirable side-effect of leading to labor cost increases: Hourly wages for healthcare practitioners are estimated to have increased by 2 to 3 percent more in Medicaid expansion states over a five-year period, which could be an indication that the supply of medical services is relatively inelastic, even over a long time horizon, to the boost to demand created by the Medicaid expansion. These findings suggest that promoting more competition in healthcare markets and reducing barriers to entry can help contain healthcare costs.

United States --- Macroeconomics --- Economics: General --- Labor --- Industries: Financial Services --- Insurance --- Finance: General --- Analysis of Health Care Markets --- Health: Government Policy --- Regulation --- Public Health --- Market Structure and Pricing: Oligopoly and Other Forms of Market Imperfection --- Wages, Compensation, and Labor Costs: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Insurance Companies --- Actuarial Studies --- General Financial Markets: General (includes Measurement and Data) --- Economic & financial crises & disasters --- Economics of specific sectors --- Labour --- income economics --- Finance --- Insurance & actuarial studies --- Insurance companies --- Financial institutions --- Labor costs --- Currency crises --- Informal sector --- Economics --- Economic theory --- Income economics