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Transatlantic News
Transatlantic News
22
Nov
Improving fiscal policy frameworks, fostering education and skills, and supporting the green transition can help ensure strong, sustainable, balanced, and inclusive growth
Blog post by Paula Beltran Saavedra, Nicolas Fernandez-Arias, Chanpheng Fizzarotti, Alberto Musso | For most Group of Twenty economies, growth is poised to weaken over the next five years and remain well below what was typical in the two decades before the pandemic.
That’s one of the biggest shared challenges for the group, which accounts for about 85 percent of global gross...
21
Nov
The average level of tax revenues among OECD countries was largely unchanged in 2023 as governments sought to ease cost-of-living pressures amid growing spending challenges related to climate change and ageing populations, according to a new report released today.
Revenue Statistics 2024 shows that the average tax-to-GDP ratio for OECD countries was 33.9% in 2023, 0.1 percentage points (p.p.) below its level in 2021 and 2022, but above its pre-pandemic level of 33.4% in 2019.
In 2023, the tax-to-GDP ratio increased in 18 of the...
21
Nov
Projects in Georgia, California, and Arizona aim to strengthen America’s leadership in cutting-edge substrate technology for critical industries like AI
Today, the Biden-Harris Administration announced that the U.S. Department of Commerce (DOC) is entering negotiations to invest up to $300 million in advanced packaging research projects in Georgia, California, and Arizona to accelerate the development of cutting-edge technologies essential to the semiconductor industry. The expected recipients are Absolics Inc. in Georgia, Applied Materials Inc. in California, and Arizona State University...
21
Nov
Understanding the drivers of the current downturn in commercial real estate (CRE) can provide insights into the outlook for the market and potential spillovers to the financial system and wider economy.
The CRE market is facing the simultaneous effects of higher interest rates, falling demand due to a structural shift towards remote working and rising costs from higher sustainability-linked capex requirements. Understanding the role of each factor in driving prices and firms’ profits can provide some insight into how financial...
21
Nov
By Kristalina Georgieva, Managing Director, IMF | Good morning, and welcome. Let me start by thanking Bert and the Statistics Department for organizing the 12th IMF Statistical Forum on ‘Measuring the Implications of AI on the Economy.’ You always choose a topic that is timely and important—and also fascinating!
It has been just two years since generative AI emerged from the lab and became a tool that anyone with internet access can use. We still feel the excitement of something...
20
Nov
Economic growth remains fragile, while concerns about global trade outlook add to geopolitical and policy uncertainty
High valuations and risk concentration make markets more susceptible to sudden corrections
Policy uncertainty, weak fiscal fundamentals in some countries and sluggish potential growth raise concerns about sovereign debt sustainability
Credit risk vulnerabilities in some euro area households and firms could lead to weaker asset quality for banks and non-bank financial intermediaries if downside risks to growth materialise
The European Central Bank (ECB)...
20
Nov
Governor Hochul Doubled the Local Government Efficiency Grant Program to Help Local Governments Reduce Current and Future Operational Costs
Support for Local Governments Will Help Lower Taxes and Ensure Property Owners Across the State Can Save Money
Governor Kathy Hochul today announced that the popular Local Government Efficiency Grant program has doubled the amount of funds available to municipalities with innovative ideas for streamlining government operations and services to reduce current or future costs, ultimately translating into savings for...
20
Nov
By Luis de Guindos | Meeting the EU’s climate neutrality targets calls for deep structural changes and significant private funding, requiring a healthy financial system. That’s why we’ve tested how resilient banks, investment funds and insurers are to stresses arising during the green transition. ECB Vice-President Luis de Guindos explains the findings.
Achieving a carbon-neutral European Union by 2050 will require a resilient financial sector to provide the funding for the necessary investment. In other words, the financial system needs...
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