Being diagnosed with a serious illness is a shock to the system, and treatment and recovery can mean major disruptions in a person’s life. But illness also takes millions of people out of the labor force every year and the quality of the care they receive can determine the extent to which this is a shock to the economy. IMF economist Nicola Pierri, with coauthors Anne-Line Koch Helsø and Adelina Yanyue Wang have published a research paper on The Economic Impact of Healthcare Quality. In this podcast, Pierri says low quality hospitals can wind up being very costly to both people and the economy at large.
In his latest book, Raghuram Rajan takes a close look at the relationship between the state, markets and communities, and argues localism is the answer to globalization. Rajan is a distinguished professor of finance at the University of Chicago, former head of India’s central bank and former Chief Economist at the IMF, where he was invited to talk about The Third Pillar: How Markets and the State Leave the Community Behind
The use of digital technologies is transforming how tax administrations operate, helping to improve efficiency and service delivery. A striking example has been Peru's adoption of electronic invoicing, which allows the automatic transfer of billing information between firms and the tax authority. Drawn by its potential to strengthen tax compliance and reduce costs, Peru is among more than 50 countries around the world to have implemented e-invoicing and many others are preparing to follow suit. IMF economists Salma Khalid and Matthieu Bellon have been studying the impact of Peru's mandatory e-invoicing reform that started back in 2014. Their research paper will be published this fall.
Salma Khalid is an economist in the Western Hemisphere Department and Matthieu Bellon is an economist in the Fiscal Affairs Department at the IMF.