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The Indian state of Kerala is known for its high social model of development and social democratic governance. This book presents the most comprehensive analysis of the Kerala Model of Social Development to date. The model has often been identified as one worth emulating because it is seen to have taken the state to the zenith of human development and democratic governance. Using an interdisciplinary approach, the book sheds new light on the paradoxes of the Indian state and its model of economic development. The book provides a consolidated exploration and critique of the Kerala model, which usually has been portrayed as linear with the grand narrative of progress, development and democracy...
Angola: Selected Issues
The Summer 2017 issue of the IMF Research Bulletin highlights new research such as recent IMF Working Papers and Staff Discussion Notes. The Research Summaries are “Structural Reform Packages, Sequencing, and the Informal Economy (by Zsuzsa Munkacsi and Magnus Saxegaard) and “A Broken Social Contract, Not High Inequality Led to the Arab Spring” (by Shantayanan Devarajan and Elena Ianchovichina). The Q&A section features “Seven Questions on Fintech” (by Tommaso Mancini-Griffoli). The Bulletin also includes information on recommended titles from IMF Publications and the latest articles from the IMF Economic Review.
This paper takes stock of forecasting and policy analysis system capacity development (FPAS CD), drawing extensively on the experience and lessons learned from developing FPAS capacity in the central banks. By sharing the insights gained during FPAS CD delivery and outlining the typical tools developed in the process, the paper aims to facilitate the understanding of FPAS CD within the IMF and to inform future CD on building macroeconomic frameworks. As such, the paper offers a qualitative assessment of the experience with FPAS CD delivery and the use of FPAS in the decision-making process in central banks.
The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to achieve the price stability target of 2 percent inflation. In this paper, a forward-looking open-economy general equilibrium model with endogenously determined policy credibility and an effective lower bound is developed for forecasting and policy analysis (FPAS) for Japan. In the model’s baseline scenario, the likelihood of the Bank of Japan reaching its 2 percent inflation target over the medium term is below 40 percent, assuming the absence of other policy reactions aside from monetary policy. The likelihood of achieving the inflation target is even lower under alternative risk scenarios. A positive shock to central bank credibility increases this likelihood, and would require less accommodative macroeconomic policies.
The book provides comprehensive, practical guidelines on the responsibilities of those who lead, co-ordinate and manage volunteers in small hospices, large specialist palliative care units, and in general hospitals with palliative care teams. Volunteers are key workers, who often perform difficult and important work. In the United Kingdom alone there are thousands of volunteers in hospice work, a small proportion doing work with patients, and the vast majority doing equallyvaluable work such as driving, sitting with relatives, manning charity shops and telephones. As a result, Europe, Australia, the United States and Canada are very interested in the United Kingdom's use of volunteers.Aimed primarily at Voluntary Services Managers in small hospices, large specialist palliative care units, and in general hospitals with palliative care teams, this updated second edition covers volunteer selection, training, supervision and support, and legal and ethical considerations. Information is presented in an easily accessible way, using key points, summary panels and checklists. This book will also appeal to the volunteers themselves.
This paper analyzes the effectiveness of foreign exchange intervention (FXI) in mitigating economic and financial shocks in India by applying the Integrated Policy Framework (IPF). It highlights how FXI can be a complementary tool in mitigating the tradeoff between output and inflation, specifically under large economic shocks amid temporarily shallow FX markets. The paper indicates that while FXI can soften adverse impacts on domestic demand and output during severe risk-off shocks, its benefits under normal conditions with liquid FX markets are limited.
The India Policy Forum (IPF) is organized by the National Council of Applied Economic Research (NCAER) in New Delhi in partnership with the Brookings Institution, Washington, D.C. It aims to examine India’s economic reforms and its economic transition using policy-relevant empirical research. The IPF comprises an annual international conference in July in New Delhi and the IPF Volume that brings together the conference papers. These papers undergo detailed revisions after the conference based on discussants’ comments at the IPF and the guidance provided by the editors. The IPF is guided by distinguished international advisory and research panels. The first paper in this 2013 IPF Volume e...