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The Fifteenth Jacques Polak Annual Research Conference will be held at IMF headquarters in Washington D.C. on November 13–14, 2014. The theme of this year's conference is "Cross-Border Spillovers." The conference is intended to provide a forum for discussing innovative research and to facilitate the exchange of views among researchers and policymakers. Hélène Rey (London Business School) will deliver the Mundell-Fleming Lecture.


IMF Global Housing Watch

The International Monetary has launched the Global Housing Watch, a webpage that tracks developments in housing markets across the world on a quarterly basis. The Housing Watch provides current data on house prices as well as metrics used to assess valuation in housing markets, such as house price-to-rent and house-price-to-income ratios.


Waste Not, Want Not: The Efficiency of Health Expenditure in Emerging and Developing Economies

Author/Editor: Francesco Grigoli; Javier Kapsoli
Public spending on health is low and inefficient in many developing and emerging economies. A new IMF paper quantifies the country-specific inefficiency of health expenditure and the gains associated with improving efficiency. The least efficient economies could boost life expectancy up to about five years if they followed best practices.


The Redistributive Effects of Financial Deregulation

Author/Editor: Anton Korinek; Jonathan Kreamer
This IMF Working Paper analyzes how financial regulation affects the distribution of income between Wall Street and Main Street. Greater deregulation allows the financial sector to reap higher profits in expectation, but leads to more frequent credit crunches that impose large negative externalities on the rest of the economy.


Labor Force Participation and Monetary Policy in the Wake of the Great Recession

Author/Editor: Christopher J. Erceg; Andrew Levin
The US labor force participation rate (LFPR) has fallen markedly since 2008. This IMF paper provides compelling evidence that cyclical factors account for the bulk of that decline and suggests that monetary policy can induce a more rapid recovery of the LFPR by allowing the unemployment rate to fall temporarily below its natural rate.


Effectiveness of Capital Outflow Restrictions

Author/Editor: Christian Saborowski ; Sarah Sanya ; Hans Weisfeld ; Juan Yepez
A tightening of capital outflow restrictions can help reduce net capital outflows if it is supported by strong macroeconomic fundamentals or good institutions, or if pre-existing restrictions are fairly comprehensive. When none of these three conditions is fulfilled, a tightening of restrictions typically fails as it provokes a sizeable decline in gross inflows by foreign investors.

October 2014
Legacies, Clouds, Uncertainties


World Economic Outlook

WEO data forum | Database

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Global Financial Stability Report

October 2014

Risk Taking, Liquidity, and Shadow Banking: Curbing Excess While Promoting Growth

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Fiscal Monitor

October 2014

Back To Work: How Fiscal Policy Can Help


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Regional Economic Reports

October 2014

Discuss recent economic developments and prospects for countries in various regions.

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G-20 Surveillance Notes
G-20 Surveillance Notes

Notes provided by the IMF staff ahead of a series of meetings held by the G-20 deputies and ministers.

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Macro Research for Development

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Having weathered the 2008-09 financial crises, most low-income countries (LICs) have reported steady growth since early 2010.

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Researchers at the IMF

Serkan Arslanalp, IMF Senior Economist
IMF Researcher

Serkan Arslanalp is a senior economist in the Monetary and Capital Markets Department. He holds an undergraduate degree in Economics from MIT and a Ph.D in Economics from Stanford University. His research interests are international finance, asset pricing, sovereign debt, and public finance. He contributes regularly to the IMF’s Global Financial Stability Report and has been working on Japan over the last three years. Serkan's research has been published in leading journals including the IMF Economic Review, Journal of Economic Perspectives, and the Journal of Finance. Read more

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