This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies that framework to Japan. Using firmlevel financial statement data, this paper estimates total factor productivity of individual Japanese firms. Given the estimated distribution of productivity across firms, this paper simulates the effect of optimal restructuring, that ...

No one in the industrial countries should now question the substantial economic benefits associated with reducing inflation from earlier, high levels. At the same time, history also teaches that the stability of consumer prices might not be sufficient to ensure macroeconomic stability. Past experience is replete with examples of major economic and financial crises that were not preceded by infl...

Approaching demographic shifts are raising concerns about fiscal sustainability in most OECD countries. A widespread view based on the tax-smoothing idea is that a prior consolidation of public finances is required to cope with the predicted trend deterioration in the primary budget balance. Both positive aspects in assessing the order of magnitude of sustainability problems and normative aspec...

in welfare economic studies, because of the differences among households scale, we cannot consider household expenditures without attention to this factor. a simple method to consider household scale in welfare analysis is the usage of the per capita expenditure. but, the usage of per capita expenditure ignores economies of scale. in fact, per capita expenditure is a biased variable, and underv...

Intergenerational Earnings Mobility among the Children of Canadian Immigrants We analyze the intergenerational income mobility of Canadians born to immigrants using the 2001 Census. A detailed portrait of the Canadian population is offered as are estimates of the degree of generational mobility among the children of immigrants from 70 countries. The degree of persistence as estimated in regress...

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. With official development assistance (ODA) set to rise as cou...

Regional Income Inequality in Selected Large Countries Income inequality can be measured at different levels of aggregation such as global, continental, international and national levels. Here we consider income inequality at the national level but the focus is on the within country regional inequality. Regional inequality in income distribution in a selection of large countries measured by the...

The objective of this research is to determine the relationship between coping and stress on the one hand and suicide ideation among police members on the other. A cross-sectional survey design was used. The study population (N = 307) consisted of uniformed police members in the Eastern Cape Province of South Africa. The COPE, Police Stress Inventory, Adult Suicide Ideation Questionnaire and a ...

Immigrant-Native Differences in Welfare Participation: The Role of Entry and Exit Rates This paper analyzes differences in welfare transitions between natives and immigrants in Sweden using a large representative panel data set, LINDA, for the years 1991 to 2001. The data contains administrative information on welfare use, country of birth, and time of arrival in Sweden among other things, and ...

Democratic capitalism has become the popular paradigm in the modern world, and it is spreading further through globalization. It is a model based on growth, expansion and constant innovation. However, it is accompanied by social problems which may worsen despite overall gains in wealth. In this paper, we suggest that democratic capitalist societies may benefit from the application of what has b...