LEADER 08063oam 22014774 450 001 9910964119503321 005 20250426111011.0 010 $a9781498334143 010 $a1498334148 010 $a9781498360753 010 $a1498360750 010 $a9781498356077 010 $a1498356079 035 $a(CKB)2550000001345642 035 $a(EBL)1770281 035 $a(OCoLC)888749688 035 $a(SSID)ssj0001398953 035 $a(PQKBManifestationID)11773307 035 $a(PQKBTitleCode)TC0001398953 035 $a(PQKBWorkID)11465178 035 $a(PQKB)11678564 035 $a(MiAaPQ)EBC1770281 035 $a(Au-PeEL)EBL1770281 035 $a(CaPaEBR)ebr10913264 035 $a(NjHacI)992550000001345642 035 $a(IMF)1EUREE2014003 035 $a(IMF)1EUREA2014003 035 $a1EUREA2014003 035 $a(EXLCZ)992550000001345642 100 $a20020129d2014 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aEuro Area Policies : $eSelected Issues 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (115 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 08$a9781498308007 311 08$a1498308007 311 08$a9781322070971 311 08$a1322070970 320 $aIncludes bibliographical references. 327 $a""Cover""; ""CONTENTS""; ""YOUTH UNEMPLOYMENT IN EUROPE: OKUN'S LAW AND BEYOND""; ""A. Context""; ""B. Stylized Facts""; ""C. Determinants""; ""D. The Business Cycle""; ""E. Labor Market Features""; ""F. Conclusions and Policy Recommendations""; ""BOXES""; ""1. SMEs. The Role of Financing Constraints and Youth Unemployment""; ""2. A Historical Perspective on Growth and Youth Unemployment""; ""REFERENCES""; ""ANNEXES""; ""1. Data Definitions""; ""2. Methodology""; ""INVESTMENT IN THE EURO AREA: WHY HAS IT BEEN WEAK?""; ""A. Investment in the Euro Area: Post-crisis Trends"" 327 $a""B. Drivers of Investment: Output Changes versus Other Factors""""C. Conclusions""; ""REFERENCES""; ""APPENDICES""; ""1. Data""; ""2. Results of the Accelerator Model""; ""3. Results of the Neoclassical Model""; ""4. Results of the Bond Market Model""; ""CAPITAL MARKET DEVELOPMENT: SME FINANCING IN THE EURO AREA""; ""A. Background""; ""B. Rationale for Securitization of SME Loans""; ""C. Impediments to SME Securitization Markets""; ""D. Relative Performance""; ""E. Lessons from Previous SME Support Programs""; ""F. Recent Efforts"" 327 $a""G. Suggested Measures to Facilitate the Development of SME Securitization""""H. Conclusion""; ""BOXES""; ""1. Overview of the European Securitization Market""; ""2. Regulatory Hurdles""; ""FIGURE""; ""1. Securitization in Europe""; ""REFERENCES""; ""ANNEXES""; ""1. Public Sector Support for SME Securitization""; ""2. Definining High-quality Securitization (HQS)""; ""3. Selected Official Sector Support for Securitization in Europe""; ""4. Selected Official Sector Support for SME Finance in Europe""; ""EXTERNAL REBALANCING IN THE EURO AREA: DEVELOPMENTS AND POLICIES""; ""A. Introduction"" 327 $a""B. Financing Needs and the Current Account""""C. Model-based Saving and Investment Imbalances in the Euro Area""; ""D. Good and Bad Ways to Achieve External Rebalancing""; ""E. Concluding Remarks""; ""BOX""; ""1. A Model-based Analysis of National Saving and Investment Behavior""; ""FIGURES""; ""1. Regional Composition of the Euro Area Current Account""; ""2. The Sectoral Composition of the Euro Area Current Account""; ""3. The Sectoral Composition of the Current Account in Creditor Economies""; ""4. The Sectoral Composition of the Current Account in Debtor Economies"" 327 $a""5. The Sectoral Composition of the Current Account in Other Debtor Economies""""6. The Composition of Net Capital Inflows by Euro Area Economy Group""; ""7. The Composition of Net Foreign Assets by Euro Area Economy Group""; ""8. Model-Implied Investment and Saving Residuals and the EBA Assessment of Current Account Imblances""; ""TABLES""; ""1. Net Foreign Assets and Current Accounts in the Euro Area Economies""; ""2. Average Real Return Difference between Foreign Assets and Liabilities, Euro Area Economies 1999a???2012""; ""3. Regression Results for Investment Model"" 327 $a""4. Regression Results for Saving Model"" 330 3 $aThis Selected Issues paper assesses the youth unemployment problem in advanced European economies, especially the euro area. Youth unemployment rates increased sharply in the euro area after the crisis. Much of these increases can be explained by output dynamics and the greater sensitivity of youth unemployment to economic activity compared with adult unemployment. Labor market institutions also play an important role, especially the tax wedge, minimum wages, and spending on active labor market policies. The paper highlights that policies to address youth unemployment should be comprehensive and country specific, focusing on reviving growth and implementing structural reforms. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2014/199 606 $aCorporate Finance$2imf 606 $aExports and Imports$2imf 606 $aInvestments: General$2imf 606 $aLabor$2imf 606 $aMacroeconomics$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aFiscal Policy$2imf 606 $aUnemployment: Models, Duration, Incidence, and Job Search$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aCorporate Finance and Governance: General$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aInternational economics$2imf 606 $aInvestment & securities$2imf 606 $aOwnership & organization of enterprises$2imf 606 $aCurrent account$2imf 606 $aFiscal stance$2imf 606 $aSmall and medium enterprises$2imf 606 $aSecuritization$2imf 606 $aUnemployment$2imf 606 $aFiscal policy$2imf 606 $aBalance of payments$2imf 606 $aEconomic sectors$2imf 606 $aFinancial services$2imf 606 $aSmall business$2imf 606 $aAsset-backed financing$2imf 606 $aIncome economics$2imf 607 $aEuropean Union countries$xCommercial policy 607 $aEuropean Union countries$xEconomic conditions 607 $aEuropean Union countries$xEconomic policy 607 $aSpain$2imf 615 7$aCorporate Finance 615 7$aExports and Imports 615 7$aInvestments: General 615 7$aLabor 615 7$aMacroeconomics 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aFiscal Policy 615 7$aUnemployment: Models, Duration, Incidence, and Job Search 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aCorporate Finance and Governance: General 615 7$aLabour 615 7$aincome economics 615 7$aInternational economics 615 7$aInvestment & securities 615 7$aOwnership & organization of enterprises 615 7$aCurrent account 615 7$aFiscal stance 615 7$aSmall and medium enterprises 615 7$aSecuritization 615 7$aUnemployment 615 7$aFiscal policy 615 7$aBalance of payments 615 7$aEconomic sectors 615 7$aFinancial services 615 7$aSmall business 615 7$aAsset-backed financing 615 7$aIncome economics 676 $a382.3094 801 0$bDcWaIMF 906 $aBOOK 912 $a9910964119503321 996 $aEuro Area Policies$94371556 997 $aUNINA