ABSTRACT The aim of this paper is to portray the financial inclusion of households and their implications for the dynamics of the economic system, in view of the importance assumed by the indebtedness of U.S. households in recent decades, especially in the 2007 U.S. crisis. Given the transformations of the U.S. economy and its financial system is proposed the rescue of Keynes's contributions of monetary economics and Minsky's financial vision to understand adequately the behaviour of households, both in the dimension of flows of income and spending, as in decisions on stocks of assets and liabilities subject to volatility and uncertainty.

This data package includes the underlying data files to replicate the data and charts presented in Misconceptions about US trade deficits muddy the economic policy debate by Maurice Obstfeld, PIIE Policy Brief 24-7.

If you use the data, please cite as: Obstfeld, Maurice. 2024. Misconceptions about US trade deficits muddy the economic policy debate. PIIE Policy Brief 24-7. Washington, DC: Peterson Institute for International Economics.

The transition towards an intangible-intensive economy reshapes financial system by creating a self-perpetuating savings glut in the production sector. As intangibles become increasingly important, firms hoard liquidity to finance investment in intangibles of limited pledgeability. Firms' savings feed cheap leverage to financial intermediaries and allow intermediaries to bid up asset prices, which in turn encourages firms to save more for asset creation. This paper develops a macro finance model that offers a coherent account of the rising corporate savings, debt fueled growth of intermediaries, declining interest rates, and rising asset valuation. Along these secular trends, endogenous financial risk accumulates.

The average for 2023 based on 20 countries was -0.17 points. The highest value was in Costa Rica: 0.98 points and the lowest value was in Haiti: -1.43 points. The indicator is available from 1996 to 2023. Below is a chart for all countries where data are available.

In a survey conducted in 2022, 64 percent of the opinion leaders and prominent journalists surveyed in Latin America said that job creation and economic growth was the most important problem Latin America would face in the incoming 18 months. The second main issue according to these experts was inflation and economic instability.

The average for 2023 based on 193 countries was -0.07 points. The highest value was in Liechtenstein: 1.61 points and the lowest value was in Syria: -2.75 points. The indicator is available from 1996 to 2023. Below is a chart for all countries where data are available.

Inflation is generally defined as the continued increase in the average prices of goods and services in a given region. Following the extremely high global inflation experienced in the 1980s and 1990s, global inflation has been relatively stable since the turn of the millennium, usually hovering between three and five percent per year. There was a sharp increase in 2008 due to the global financial crisis now known as the Great Recession, but inflation was fairly stable throughout the 2010s, before the current inflation crisis began in 2021. Recent years Despite the economic impact of the coronavirus pandemic, the global inflation rate fell to 3.26 percent in the pandemic's first year, before rising to 4.66 percent in 2021. This increase came as the impact of supply chain delays began to take more of an effect on consumer prices, before the Russia-Ukraine war exacerbated this further. A series of compounding issues such as rising energy and food prices, fiscal instability in the wake of the pandemic, and consumer insecurity have created a new global recession, and global inflation in 2024 is estimated to have reached 5.76 percent. This is the highest annual increase in inflation since 1996. Venezuela Venezuela is the country with the highest individual inflation rate in the world, forecast at around 200 percent in 2022. While this is figure is over 100 times larger than the global average in most years, it actually marks a decrease in Venezuela's inflation rate, which had peaked at over 65,000 percent in 2018. Between 2016 and 2021, Venezuela experienced hyperinflation due to the government's excessive spending and printing of money in an attempt to curve its already-high inflation rate, and the wave of migrants that left the country resulted in one of the largest refugee crises in recent years. In addition to its economic problems, political instability and foreign sanctions pose further long-term problems for Venezuela. While hyperinflation may be coming to an end, it remains to be seen how much of an impact this will have on the economy, how living standards will change, and how many refugees may return in the coming years.

The poor live paycheck to paycheck and are repeatedly exposed to strong cyclical income fluctuations. We investigate whether such income fluctuations affect their risk preference. If risk preference temporarily changes around payday, optimal decisions made before payday may no longer be optimal afterward, which could reinforce poverty. By exploiting Social Security payday cycles in the US, we find that the poor relying heavily on Social Security become more risk tolerant before payday. More than cognitive decline before payday, the deterioration of mental health and relative deprivation are likely to play a role. We find similar evidence among the Japanese elderly.

Iran’s gross domestic product (GDP) inclined by 3.33 percent in 2020 after adjusting for inflation. This figure fell from 13.4 percent growth four years ago, which had been a reaction to sanctions lifting after the Joint Comprehensive Plan of Action (JPCOA) regarding Iran’s nuclear program. United States president Donald Trump ended that country’s participation in the deal, imposing new sanctions.

Political influence on the economy

Political tensions have hampered the economy of Iran, keeping growth low in spite of the country’s considerable oil reserves. The effect of these sanctions becomes obvious when looking at Iran’s oil exports to Europe over the past decade. Some analysts have blamed the new sanctions for the increase in Iran’s inflation rate, as well as the currency depreciation that has accompanied it.

Iran’s options

Although Iran’s main export partners are largely in Asia, many of the transactions are carried out using U.S. dollars. Even though other means of payment are possible, some countries worry about political ramifications of continuing trade relations with Iran. Iran’s greatest strength at the moment may be its low national debt, meaning that it can borrow a substantial amount of money if it can find a willing lender. However, given the instability of the political situation worldwide and regionally, it is difficult to assume that such a borrower exists at the moment.

The credit counselors, surveyors and appraisers industry has grown substantially over the past five years. Revenues have ballooned at a compound annual growth rate (CAGR) of 3.2% to $91.5 billion by the end of 2024. Notably, the industry is not insulated from external factors that positively or negatively impact it. For instance, the pandemic ushered in an era of financial insecurity, prompting many to seek the advice of credit counselors. Nonetheless, the industry is set to benefit from the twin issues of elevated inflation and soaring interest rates starting in 2022. The current period is not as rosy for the construction and industrial sectors. Predictions point to a decline in these sectors due to increasingly unstable economic conditions. Nevertheless, the industry anticipates a revenue hike of 2.3% in 2024 alone. Nonetheless, profitability is set to fall during the same period. The trend of credit counselors thriving during economic downturns isn't new. Past instances of the US economy underperforming have seen an uptick in demand for industry services. Similarly, a rise in the industrial production index, indicating heightened industrial activities, increases the solicitation of visual inspection services. In contrast, weather forecasting services provide a steady business flow, owing to their consistent usage across various industries. Overall, the industry appears poised for growth during the outlook period. Projections indicate a CAGR of 2.7% through 2029, with industry revenues tipping to $104.4 billion. This growth is expected to be driven by increased construction activities and demand from the sector, contributing to a stronger demand for quantity surveyors. Yet, the counterpoint to economic improvement is a drop in consumer demand for credit counseling. Furthermore, weather forecasting services are set to remain a reliable revenue source for the industry in the foreseeable future.

We study the relationship between participation in free trade agreements (FTAs) and the sustainability of democracy. Our model shows that FTAs can critically reduce the incentive of authoritarian groups to seek power by destroying protectionist rents, thus making democracies last longer. This gives governments in unstable democracies an extra motive to form FTAs. Hence, greater democratic instability induces governments to boost their FTA commitments. In a dataset with 116 countries over 1960-2007, we find robust support for these predictions. They help to rationalize the rapid simultaneous growth of regionalism and of worldwide democratization since the late 1980s.

The Sustainable Development Goals (SDGs) aim to eradicate poverty and promote sustainable development; however, socioeconomic disparities persist globally, particularly in Colombia. With a Gini index of 0.556 in 2022, Colombia ranks among the most unequal countries in Latin America, with its southwest region of Nariño facing severe socioeconomic challenges. Concurrently, Nariño registers the highest levels of coca cultivation in Colombia, accounting for 65% of national cocaine production, reflecting the region’s precarious conditions. This study investigates the extent to which the spatial distribution of socioeconomic factors explains coca cultivation patterns in Nariño. Grounded in conflict economics, social capital, and social marginalization theories, the research constructs composite indices representing education, health, public services, economic conditions, and vulnerability. Using spatial analysis, it identifies areas with heightened poverty and vulnerability and examines their relationship with illicit crops. The findings highlight spatial non-stationarity in the factors influencing coca cultivation, offering region-specific insights and policy recommendations to combat illicit crops and foster sustainable development. These results provide a foundation for targeted interventions and contribute to broader strategies addressing inequality and illegal economies in Colombia.

Gold prices surged to their highest in a year amid global market volatility and a weakened US dollar, influenced by Trump's new import tariffs affecting major trading partners.

The 1973-1975 recession marked the end of a remarkably prosperous period for developed economies. Apart from the United States, who experienced a brief recession in 1969-70, the other nations had enjoyed a period of uninterrupted growth in the 25 years leading up to this event. Japan in particular had the fastest growth of any major economy. This ended, however, following the 1973 oil crisis, which saw the member states of the OAPEC (Organization of Arab Petroleum Exporting Countries) place an embargo on the nations who supported Israel during the Yom Kippur War, particularly the U.S., who supplied arms to Israel. As a result, oil prices quadrupled in some periods; the U.S. and most of its major economic partners then went into recession due to their dependency on oil imports. Additional factors exacerbated the effects of the recession in each country, such as the miners' strike in the United Kingdom, or Nixon's unstable economic policies in the early 1970s. It was not until 1976 when the major OECD economies would come out of their recession, although real GDP growth rates would not return to the consistent highs experienced in the 1950s and 1960s. Additionally, while GDP growth resumed within a few years, inflation rates and unemployment rates generally remained higher going into the 1980s.

Abstract The aim of this paper is to examine the main changes in the levels and trends of global highly skilled migration between 2000 and 2010, with special emphasis on what happens in the Latin America and the Caribbean region (LAC). The paper takes as analytical axes the selective immigration policies of highly skilled migrants in the countries of destination, the limited incorporation of them in the origin countries, and their precarious labor incorporation in the economies of the global North. The information used here is the recently published database by the Organization for Economic Co-operation and Development (OECD) known as DIOC 2000/01 and 2010/11. The article shows an accelerated increase in skilled labor migration (particularly in the case of women), an increase in the "brain drain" between 2000 and 2010, and an increasingly precarious and unfavorable labor insertion for highly skilled migrants of LAC.

With increasing violence, political, and economic instability in Latin America, there is a record number of migrants crossing the U.S. southern border. Latin American migrants are often exposed to traumatic events before leaving their home country and during migration. While prior studies document that sex may play a role in types of traumatic exposure, few studies compare differences in traumatic exposure by sex and place of occurrence of recently arrived immigrants. Addressing this gap, we recruited 120 adults who had recently crossed the U.S.-Mexico border. Participants completed questionnaires to characterize trauma exposures in their home country and during their migration journey. Results found that men reported higher levels of exposure to combat situations, while women were more likely to experience sexual assault. Both combat exposure and sexual traumas occurred more often in home countries than during migration. More than half of the full sample reported being threatened with a firearm. These data confirm gender differences in type of trauma and that exposures in the country of origin may provide the impetus to migrate.

According to a survey among Chinese companies operating in the United States conducted in March and April 2022, around ** percent of respondents indicated the near-term top challenge for them to conduct business in the U.S. was the U.S.-China bilateral relations. Roughly ** percent of the surveyed Chinese companies were concerned about the inflation and unstable economy in the United States in the near future.

As Indonesia faces economic challenges, gold emerges as a preferred investment. Learn how currency and market instability fuel the gold rush.

According to Cognitive Market Research, the global Credit Repair Services market size is USD 6815.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 2.50% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 2726.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 0.7% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 2044.56 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1567.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 340.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.9% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 136.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
The Credit Repair Software held the highest Credit Repair Services market revenue share in 2024.

Market Dynamics of Credit Repair Services Market

Key Drivers of Credit Repair Services Market

Increased Importance of Credit Scores to Increase the Demand Globally

The fact that businesses and financial institutions depend more on credit scores to establish insurance premiums, determine interest rates, and approve loans shows how important credit scores have become. The growing awareness of the substantial influence credit scores have on one's financial prospects and general welfare has increased the need for services focused on enhancing and preserving good credit ratings. This increase in demand is a result of customers taking proactive steps to improve their financial situation, which opens up access to more favorable insurance and borrowing terms and, in turn, increases their prospects and stability.

Financial Difficulties and Errors to Propel Market Growth

Delinquencies or mistakes impact individuals' creditworthiness on credit reports, frequently resulting from personal financial difficulties and economic uncertainty. As a result, there is a rising need for credit repair services meant to address these problems and improve credit status. These services help refute incorrect information, settle disputes with creditors, and create plans to raise credit ratings. By resolving financial challenges and inaccuracies on credit reports, people can improve their creditworthiness, be eligible for better lending conditions, and lessen the blow to their future financial prospects. This pattern emphasizes the value of proactive money management and the assistance that credit repair firms provide in assisting people in overcoming difficult financial situations.

Restraint Factors Of Credit Repair Services Market

Lack of Regulation and Unethical Practices to Limit the Sales

Consumer trust is undermined by unethical activities and a lack of regulation, which poses issues for the credit repair sector. Certain businesses take advantage of gaps in the law to commit dishonesty or participate in fraudulent activities, preying on those looking for help with credit problems. Marketing that is deceptive and con games run by dishonest businesspeople make the issue worse and expose customers to abuse. In addition to damaging the standing of reliable credit repair firms, this oversight gap undermines public trust in the sector. Protecting customers and rebuilding confidence in the credit repair industry need strengthening legal frameworks and upholding moral principles.

Impact of Covid-19 on the Credit Repair Services Market

The COVID-19 outbreak has significantly impacted the market for credit repair services. A growing number of people are experiencing financial troubles due to economic shocks and job losses, which has increased demand for credit repair services. On the other hand, limitations on face-to-face communication and unstable economic conditions have also impacted credit repair businesses. Maintaining service delivery now requires digital technologies and remote work arrangements. Government stimulus programs and regulatory changes intended to ease financial burdens have also impacted market dynamics. The pandemic has highlighted the value of credit restora...

This statistic shows the gross domestic product (GDP) per capita in Italy from 1987 to 2024, with projections up until 2030. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. In 2024, the GDP per capita in Italy was around 40,224.01 U.S. dollars. Italy's struggling economy Italy’s GDP per capita has been unstable since 2008, often experiencing slight increases and decreases annually. The third largest economy of the euro area not only suffered from the global financial crisis, they were also one of the primary victims of the euro area crisis. One of the outcomes is the significant growth of Italy’s national debt, which saw continued upsurges every year over the past decade. With the collapse of investments and loss of industrial production, the Italian state was forced to resort to increase taxation and decrease spending. Additionally, Italy was forced to borrow more, which in turn increased national debt and furthermore their debt-to-GDP ratio. A debt-to-GDP ratio is significant to help determine if a country can pay off its debts without incurring more. Increased taxation and decrease spending helped with reducing expenditures as well as raising revenues, however Italy still maintained a trade balance deficit, which has only recently< started to recover. Several reasons for Italy’s downturn as a country are unnecessary spending and incompetent leadership.