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October 07, 2014
IMF Recommends Changes to Prevent Future Debt Rulings like the One Against Argentina
The Executive Board of the International Monetary Fund (IMF) is supporting proposed reforms outlined in a recent IMF report that are intended to prevent disruptive and costly debt restructuring fights – like the one ongoing between the Argentine government and vulture funds – from occurring in the future. Noting that “the existing legal framework may not be sufficiently robust to prevent ‘holdout’ creditors from undermining the restructuring process,” the Fund has suggested that the Foreign Sovereign Immunities Act (FSIA) in the United States could be “clarif[ied]” to ensure that a foreign country’s overseas assets are immune from U.S. courts’ jurisdiction.
October 03, 2014
Relatório investiga economia e indicadores sociais da última década no Brasil
O Centro para Pesquisa Econômica e Política (CEPR, na sigla em inglês) lançou hoje um artigo que investiga indicadores sociais e econômicos, bem como mudanças em políticas ocorridas no Brasil desde 2003. O artigo estará disponível hoje à tarde (resumo aqui).
“As vidas de dezenas de milhares de brasileiros foram transformadas pelas mudanças nas políticas econômicas e sociais da última década”, disse um dos diretores do CEPR, Mark Weisbrot, autor principal do artigo. “Um aumento expressivo do crescimento econômico, combinado a maiores gastos sociais, grandes aumentos no salário mínimo real e maior poder de barganha para o trabalhador – tudo isso garantiu a redução da pobreza e do desemprego, além do declínio da desigualdade.”
“Essas mudanças parecem ser duradouras, tendo a maioria delas sobrevivido à recessão mundial e ao desaquecimento da economia e do comércio mundiais nos últimos anos.”
September 30, 2014
The Big Tax Increase Nobody Noticed
A new paper from the Center for Economic and Policy Research (CEPR) examines the results of two recent polls that indicate that the American public may not be as sensitive to changes in taxation rates as conventional wisdom holds.
The report, “The Big Tax Increase Nobody Noticed,” details the results of two Google Consumer Survey polls conducted by CEPR in 2013 and 2014. The polls asked respondents about the payroll tax that funds Social Security and whether that tax rate had changed that year. In the 2013, the majority of respondents (56 percent) did not know if their taxes went up or down and just 29 percent knew that the payroll tax did in fact go up. This is striking since the expiration of the payroll tax holiday meant that the tax increased a full 2.0 percentage points. In 2014, when the Social Security payroll tax rate was unchanged, 68 percent responded that they did not know while 20 percent thought the tax had gone up. This 20 percent number can be taken as an estimate of the share of the public who believe taxes go up every year regardless of whether they do or not. This would imply that in the 2013 survey, only 9 percent actually recognized a significant increase in the Social Security payroll tax.
September 29, 2014
Report Examines Economy and Social Indicators During the Past Decade in Brazil
The Center for Economic and Policy Research (CEPR) released a research paper today that looks at social and economic indicators, as well as policy changes that have occurred since 2003 in Brazil.
“The lives of tens of millions of Brazilians have been transformed by the economic and social policy changes of the past decade,” said CEPR Co-Director Mark Weisbrot, lead author of the paper. “A sharp increase in economic growth, combined with increased social spending, large increases in the real minimum wage, and increased bargaining power for labor allowed for greatly reduced poverty and unemployment, as well as declining inequality.”
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