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This innovative study re-examines the dynamics of race relations in the post–Civil War South from an altogether fresh perspective: field sports.In the late nineteenth and early twentieth centuries, wealthy white men from Southern cities and the industrial North traveled to the hunting and fishing lodges of the old Confederacy—escaping from the office to socialize among like-minded peers. These sportsmen depended on local black guides who knew the land and fishing holes and could ensure a successful outing. For whites, the ability to hunt and fish freely and employ black laborers became a conspicuous display of their wealth and social standing. But hunting and fishing had been a way of life for all Southerners—Black People included—since colonial times. After the war, African Americans used their mastery of these sports to enter into market activities normally denied people of color, thereby becoming more economically independent from their white employers. Whites came to view black participation in hunting and fishing as a serious threat to the South’s labor system. Scott E. Giltner shows how African-American freedom developed in this racially tense environment—how blacks' sense of competence and authority flourished in a 'Jim Crow' setting. Giltner’s thorough research using slave narratives, sportsmen’s recollections, records of fish and game clubs, and sporting periodicals offers a unique perspective on the African-American struggle for independence from the end of the Civil War to the 1920s.

Labour economics --- Labour / income economics

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The IMF provides training to its membership in its core areas of expertise mainly through its Institute for Capacity Development (ICD) or formerly the IMF Institute (INS). This paper looks at the methods that ICD used to evaluate this activity and analyzes the data collected over the period 2006–13. Since 2015, ICD has undertaken a review of its curriculum and revamped its courses and evaluations. Hence this paper provides a detailed analysis of the situation prior to the review.The study's novel feature is its attempt to distill information from all evaluation sources in one place. It also conducts analysis to explain the evaluation results using participant demographic information. An important message that emerges from the different surveys is that ICD’s training program is well liked. Notable differences in results surface when sorting evaluations results by course type or by geographic location, and whether evaluations were filled out by participants or by their sponsoring managers.

Macroeconomics --- Personal Income, Wealth, and Their Distributions --- Labor Economics: General --- Labour --- income economics --- Personal income --- Labor --- National accounts --- Income --- Labor economics --- China, People's Republic of --- Income economics

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The momentum behind the cyclical global expansion remains strong. But escalating trade conflicts and financial market volatility highlight downside risks beyond the next several quarters. To sustain the upswing, policy makers need to enhance financial sector resilience, start rebuilding policy space, and implement structural reforms–including on corruption and governance. Countries should work to promote an open and rulesbasedmultilateral trade system that works for all, and to durably reduce excess global imbalances. A cooperative approach to regulation will reap the benefits of financial technology, while addressing risks to stability and integrity. The Fund is embarking on major policy reviews, including on surveillance, the Financial Sector Assessment Program, program conditionality, concessional lending tools, debt sustainability analysis, and capacity development. We have also launched a comprehensive work program on the opportunities and challenges from digitalization.

Economic history. --- Income economics --- Labor economics --- Labor Economics: General --- Labor --- Labour --- Macroeconomics

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Recent theoretical and empirical work has cast doubt on the hypotheses of a linear Phillips curve and a symmetric quadratic loss function underlying traditional thinking on monetary policy. This paper analyzes the Barro-Gordon optimal monetary policy problem under alternative loss functions—including an asymmetric loss function corresponding to the “opportunistic approach” to disinflation—when the Phillips curve is convex. Numerical simulations are used to compare the implications of the alternative loss functions for equilibrium levels of inflation and unemployment. For parameter estimates relevant to the United States, the symmetric loss function dominates the asymmetric alternative.

Inflation --- Labor --- Money and Monetary Policy --- Price Level --- Deflation --- Monetary Policy --- Unemployment: Models, Duration, Incidence, and Job Search --- Labour --- income economics --- Macroeconomics --- Monetary economics --- Unemployment rate --- Unemployment --- Inflation targeting --- Monetary tightening --- Prices --- Monetary policy --- United States --- Income economics

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The main focus of the “wage bargaining” literature has been on the factors promoting real wage flexibility at the macro level. This paper, in contrast, examines the microeconomic issues of wage bargaining. More specifically, this paper appraises the following questions: (a) what are the conditions under which a firm prefers decentralized to centralized bargaining?, (b) what are the characteristic features of firms which prefer decentralized to centralized bargaining?, and (c) has the proportion of firms which prefer decentralized bargaining increased over time? These questions are examined in an efficiency wage model with insider-outsider features. This paper provides useful theoretical insights for understanding the issues involved in shifting from centralized to decentralized wage bargaining.

Labor --- Macroeconomics --- Wages, Compensation, and Labor Costs: General --- Wages, Compensation, and Labor Costs: Public Policy --- Labor Economics: General --- Labour --- income economics --- Wages --- Wage bargaining --- Real wages --- Wage adjustments --- Labor economics --- Sweden --- Income economics