In the updated World Economic Outlook 2016, the IMF predicts a baseline projection for global growth in 2016 of a modest 3.2 percent, broadly in line with 2015, and a 0.2 percentage point downward revision relative to the January 2016 Update. The recovery is projected to strengthen in 2017 and beyond, driven primarily by emerging market and developing economies, as conditions in stressed economies start gradually to normalise. In the 3rd chapter of the report (titled Time for a supply-side boost), the IMF continues with the plea for labour market reform and deregulation, although the organisation admits that these reforms can have a negative effect: ‘the impact becomes contractionary if the reforms are undertaken during periods of slack’. It is interesting to read in a special box (3.2) how the organisation struggles with the fact that there is hardly any evidence in Europe for the advocated IMF-policy of decentralisation of collective bargaining and its fight against sector level bargaining and extension of agreements.
English: http://www.imf.org/external/pubs …
http://www.imf.org/external/pubs/ft/weo …
For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.eu. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.
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