LEADER 07696oam 22013574 450 001 9910779275903321 005 20230725060401.0 010 $a1-4639-8290-9 010 $a1-4639-3042-9 010 $a1-283-53368-5 010 $a9786613846136 010 $a1-4639-6322-X 035 $a(CKB)2550000000102628 035 $a(EBL)1588318 035 $a(SSID)ssj0000674641 035 $a(PQKBManifestationID)11449534 035 $a(PQKBTitleCode)TC0000674641 035 $a(PQKBWorkID)10662477 035 $a(PQKB)10043594 035 $a(MiAaPQ)EBC1588318 035 $a(Au-PeEL)EBL1588318 035 $a(CaPaEBR)ebr10557459 035 $a(CaONFJC)MIL384613 035 $a(OCoLC)867928231 035 $a(IMF)REOWHDEE2011002 035 $a(IMF)REOWHDEA2011002 035 $a(EXLCZ)992550000000102628 100 $a20020129d2011 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRegional Economic Outlook, October 2011, Western Hemisphere : $eShifting Winds, New Policy Challenges 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2011. 215 $a1 online resource (92 p.) 225 1 $aRegional Economic Outlook 225 0$aWorld economic and financial surveys 300 $a"Oct 11." 311 $a1-61635-130-6 320 $aIncludes bibliographical references. 327 $aCover; Contents; Preface; Executive Summary; 1. Global, U.S., and Canadian Outlook and Challenges; 1.1. Global Outlook: Slowing Growth with Dominant Downside Risks; Policy Options: Rebalancing Demand; 1.2. United States: A Tough Balancing Act; U.S. Policy Options; 1.3. Canada: A Slowing Recovery; Canada Policy Options; 1.4. Implications for Latin America and the Caribbean; Boxes; 1.1. U.S. Housing and Labor Markets: Headwinds to Recovery; 1.2. U.S. Financial Exposure to Europe; 1.3. Budget Institutions for U.S. Fiscal Consolidation 327 $a2. Outlook and Policy Issues for Latin America and the Caribbean 2.1. Overview; 2.2. Policy Challenges; South America: Financial Integrated Commodity Exporters-Guarding against Overheating; South America: Less Financially Integrated Commodity Exporters-Avoiding Procyclicality; Mexico and Central America: More Headwinds to Growth; The Caribbean: Repairing Sovereign and Financial Balance Sheets; 2.3. How Tight Are Labor Markets in Inflation-Targeting Countries?; Estimating the Nonaccelerating Inflation Rate of Unemployment; Policy Implications; 2.4. Effectiveness of Macroprudential Policies 327 $aCross-Country Analysis Sectoral Evidence; Policy Implications; 2.5. Fiscal Consolidation Challenges in Tourism-Intensive Economies; 2.1. Latin America: Banking Sector Spillovers from the European Crisis; 2.2. Latin America: Fiscal Adjustment with Social Cohesion; 2.3. Rule-Based Fiscal Frameworks for Latin America; 2.4. Challenges for Financial Regulation and Supervision in Latin America; 2.5. Recent Sovereign Debt Restructurings in Latin America and the Caribbean; 3. Commodity Price Cycles: The Perils of Mismanaging the Boom; 3.1. Introduction 327 $a3.2. A Historical Perspective on Commodity Prices 3.3. How Commodity Dependent is Latin America?; 3.4. What Explains Economic Performance in the Face of Terms-of-Trade Busts?; Cross-Sectional Approach; A Panel Approach; 3.5. Key Takeaways and Policy Implications; 3.1. U.S. Monetary Policy and Commodity Prices; 3.2. Latin America's Commodity Dependence and Export Diversification: Selected Cases; 3.3. Export- or Import-Induced Terms-of-Trade Shocks: Are They Different?; 3.4. The Cost of Mismanaging Abundance; Annex 3.1. Additional Figures 327 $aAnnex 3.2. Cross-Sectional Approach: List of Explanatory and Control Variables Western Hemisphere: Selected Economic and Social Indicators, 2005-11; Western Hemisphere: Main Economic Indicators, October 2011; Latin America and the Caribbean: Main Fiscal Indicators, October 2011; References; New Publications from the Western Hemisphere Department, January 2010-August 2011 330 3 $aDespite the recent deterioration in the global economic environment, projections for the region involve only a modest worsening of the outlook. The October 2011 Regional Economic Outlook: Western Hemisphere cautions, however, that there are severe downside risks. A sharp slowdown in Asia, for example in response to a recession in advanced economies, could impact commodity prices, with negative effects on Latin American commodity exporters. With global monetary policy likely to remain accommodative, capital flows could exacerbate overheating and amplify vulnerabilities in emerging markets. Countries with strong real linkages to the United States face a somewhat weaker outlook and should give priority to reducing public debt. Although much of the Caribbean is recovering from a prolonged recession, the outlook remains constrained by high public debt and weak tourism flows. This issue finds that policies can play an important role in mitigating the economic impact of terms-of-trade shocks, and underscores the need to rebuild policy buffers. 410 0$aRegional Economic Outlook 517 3 $aWestern Hemisphere 606 $aEconomic forecasting$zWestern Hemisphere 606 $aInvestments: Commodities$2imf 606 $aExports and Imports$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aReal Estate$2imf 606 $aCommodity Markets$2imf 606 $aEmpirical Studies of Trade$2imf 606 $aFiscal Policy$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aHousing Supply and Markets$2imf 606 $aInternational economics$2imf 606 $aPublic finance & taxation$2imf 606 $aInvestment & securities$2imf 606 $aProperty & real estate$2imf 606 $aCommodity prices$2imf 606 $aTerms of trade$2imf 606 $aFiscal consolidation$2imf 606 $aPublic debt$2imf 606 $aCommodities$2imf 606 $aPrices$2imf 606 $aInternational trade$2imf 606 $aFiscal policy$2imf 606 $aEconomic policy$2imf 606 $anternational cooperation$2imf 606 $aDebts, Public$2imf 606 $aCommercial products$2imf 607 $aWestern Hemisphere$xEconomic conditions$y21st century 607 $aUnited States$2imf 615 0$aEconomic forecasting 615 7$aInvestments: Commodities 615 7$aExports and Imports 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aReal Estate 615 7$aCommodity Markets 615 7$aEmpirical Studies of Trade 615 7$aFiscal Policy 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aHousing Supply and Markets 615 7$aInternational economics 615 7$aPublic finance & taxation 615 7$aInvestment & securities 615 7$aProperty & real estate 615 7$aCommodity prices 615 7$aTerms of trade 615 7$aFiscal consolidation 615 7$aPublic debt 615 7$aCommodities 615 7$aPrices 615 7$aInternational trade 615 7$aFiscal policy 615 7$aEconomic policy 615 7$anternational cooperation 615 7$aDebts, Public 615 7$aCommercial products 676 $a332.1 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910779275903321 996 $aRegional Economic Outlook, October 2011, Western Hemisphere$93796575 997 $aUNINA