Ebook60 pages1 hour
Balancing Act: Jobs and Wages in the Middle East and North Africa When Crises Hit
By Roberta Gatti, Daniel Lederman, Nelly Elmallakh and
Rating: 0 out of 5 stars
()
About this ebook
Covid-19. The Russian invasion of Ukraine. Commodity price volatility. The rise of global inflation and interest rates. Currency depreciations among indebted middle-income economies. And now, natural disasters. As a sequence of events, the consequences can be both tragic and long-lasting. After analyzing the macroeconomic prospects of the Middle East and North Africa (MENA) Region, this edition of the regional Economic Update assesses the human toll of macroeconomic shocks in terms of lost jobs and deteriorating livelihoods of the people of MENA.
Growth is forecast to decelerate in 2023 after experiencing an oil-price induced growth spurt in 2022 among the high-income oil exporters of the region. Yet as the region continues to recover from the impact of the COVID-19 shock and navigates the heightened volatility in its terms of trade, the region's labor force is contending with the ramifications for their livelihoods of the inflationary pressures associated with currency fluctuations in some countries. The authors estimate that the macroeconomic shocks of 2020-22 led to an additional 5.1 million individuals becoming unemployed in MENA. Will these shocks permanently scar the hard-working people of MENA? The report answers this question by highlighting the trade-offs facing labor markets when facing macroeconomic shocks. A critical trade-off pertains to the loss of jobs versus decreases in real incomes, neither of which is desirable. The report advocates for maintaining the flexibility of real wages and discusses policy options to support the most vulnerable.
Growth is forecast to decelerate in 2023 after experiencing an oil-price induced growth spurt in 2022 among the high-income oil exporters of the region. Yet as the region continues to recover from the impact of the COVID-19 shock and navigates the heightened volatility in its terms of trade, the region's labor force is contending with the ramifications for their livelihoods of the inflationary pressures associated with currency fluctuations in some countries. The authors estimate that the macroeconomic shocks of 2020-22 led to an additional 5.1 million individuals becoming unemployed in MENA. Will these shocks permanently scar the hard-working people of MENA? The report answers this question by highlighting the trade-offs facing labor markets when facing macroeconomic shocks. A critical trade-off pertains to the loss of jobs versus decreases in real incomes, neither of which is desirable. The report advocates for maintaining the flexibility of real wages and discusses policy options to support the most vulnerable.
Read more from Roberta Gatti
Jobs for Shared Prosperity: Time for Action in the Middle East and North Africa Rating: 0 out of 5 stars0 ratingsAltered Destinies: The Long-Term Effects of Rising Prices and Food Insecurity in the Middle East and North Africa Rating: 0 out of 5 stars0 ratingsOverconfident: How Economic and Health Fault Lines Left the Middle East and North Africa Ill-Prepared to Face COVID Rating: 0 out of 5 stars0 ratings
Related to Balancing Act
Related ebooks
Altered Destinies: The Long-Term Effects of Rising Prices and Food Insecurity in the Middle East and North Africa Rating: 0 out of 5 stars0 ratingsMiddle East and North Africa Economic Monitor October 2015: Inequality, Uprisings, and Conflict in the Arab World Rating: 0 out of 5 stars0 ratingsOverconfident: How Economic and Health Fault Lines Left the Middle East and North Africa Ill-Prepared to Face COVID Rating: 0 out of 5 stars0 ratingsExports to Improve Labor Markets in the Middle East and North Africa Rating: 0 out of 5 stars0 ratingsTrading Together: Reviving Middle East and North Africa Regional Integration in the Post-Covid Era Rating: 0 out of 5 stars0 ratingsMiddle East and North Africa Economic Monitor October 2014: Corrosive Subsidies Rating: 0 out of 5 stars0 ratingsMENA Quarterly Economic Brief, July 2015: Economic Implications of Lifting Sanctions on Iran Rating: 0 out of 5 stars0 ratingsSouth Asia Economic Focus Spring 2014: Time to Refocus Rating: 0 out of 5 stars0 ratingsMiddle East and North Africa Regional Economic Update, April 2014: Harnessing the Global Recovery - A Tough Road Ahead Rating: 0 out of 5 stars0 ratingsDisaster Recovery Planning: Explanatory Note and Case Study Rating: 0 out of 5 stars0 ratingsThe Greater Mekong Subregion 2030 and Beyond: Integration, Upgrading, Cities, and Connectivity Rating: 0 out of 5 stars0 ratingsSouth Asia Economic Focus: Social Norms and Gender Inequality Rating: 0 out of 5 stars0 ratingsMiddle East and North Africa Data Book, September 2014 Rating: 0 out of 5 stars0 ratingsSouth Asia Economic Focus Fall 2015: Getting Prices Right—Recent Disinflation and Its Implications Rating: 0 out of 5 stars0 ratingsWorld Development Report 2023: Migrants, Refugees, and Societies Rating: 0 out of 5 stars0 ratingsCOVID-19 and the Finance Sector in Asia and the Pacific: Guidance Notes Rating: 0 out of 5 stars0 ratingsMENA Quarterly Economic Brief January 2016: The Economic Effects of War and Peace Rating: 0 out of 5 stars0 ratingsDisaster Resilience in Asia: A Special Supplement of Asia’s Journey to Prosperity: Policy, Market, and Technology Over 50 Years Rating: 0 out of 5 stars0 ratingsFinancial Integration and Macrofinancial Linkages in Asia: Crises, Responses, and Policy Considerations Rating: 0 out of 5 stars0 ratingsA Decade after the Global Recession: Lessons and Challenges for Emerging and Developing Economies Rating: 0 out of 5 stars0 ratingsA Health Impact Assessment Framework for Special Economic Zones in the Greater Mekong Subregion Rating: 0 out of 5 stars0 ratingsMiddle East and North Africa Economic Monitor April 2016: Syria, Reconstruction for Peace Rating: 0 out of 5 stars0 ratings
Economics For You
Economix: How and Why Our Economy Works (and Doesn't Work), in Words and Pictures Rating: 4 out of 5 stars4/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5Divergent Mind: Thriving in a World That Wasn't Designed for You Rating: 4 out of 5 stars4/5The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5Chip War: The Fight for the World's Most Critical Technology Rating: 4 out of 5 stars4/5The Affluent Society Rating: 4 out of 5 stars4/5Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions Rating: 4 out of 5 stars4/5Confessions of an Economic Hit Man, 3rd Edition Rating: 5 out of 5 stars5/5A People's Guide to Capitalism: An Introduction to Marxist Economics Rating: 4 out of 5 stars4/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5Wise as Fu*k: Simple Truths to Guide You Through the Sh*tstorms of Life Rating: 4 out of 5 stars4/5Sex Trafficking: Inside the Business of Modern Slavery Rating: 4 out of 5 stars4/5Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail Rating: 4 out of 5 stars4/5A History of Central Banking and the Enslavement of Mankind Rating: 5 out of 5 stars5/5Disrupting Sacred Cows: Navigating and Profiting in the New Economy Rating: 0 out of 5 stars0 ratingsEverybody Lies: Big Data, New Data, and What the Internet Can Tell Us About Who We Really Are Rating: 4 out of 5 stars4/5Talking to My Daughter About the Economy: or, How Capitalism Works--and How It Fails Rating: 4 out of 5 stars4/5Economics 101: From Consumer Behavior to Competitive Markets--Everything You Need to Know About Economics Rating: 4 out of 5 stars4/5How to Be Everything: A Guide for Those Who (Still) Don't Know What They Want to Be When They Grow Up Rating: 4 out of 5 stars4/5The Lords of Easy Money: How the Federal Reserve Broke the American Economy Rating: 4 out of 5 stars4/5The Physics of Wall Street: A Brief History of Predicting the Unpredictable Rating: 4 out of 5 stars4/5The Price of Time: The Real Story of Interest Rating: 5 out of 5 stars5/5Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism Rating: 4 out of 5 stars4/5Money Mischief: Episodes in Monetary History Rating: 4 out of 5 stars4/5This Changes Everything: Capitalism vs. The Climate Rating: 4 out of 5 stars4/5
Reviews for Balancing Act
Rating: 0 out of 5 stars
0 ratings
0 ratings0 reviews
Book preview
Balancing Act - Roberta Gatti
Enjoying the preview?
Page 1 of 1