Beyond Macroeconomic Stability

Iyanatul Islam is currently Chief, Country Employment Policy Unit, International Labour Office, Geneva. David Kucera, Research Economist, International Labour Office Ishraq Ahmed completed his Masters in Economics and Development Economics from the University of Nottingham, UK Rathin Roy, Economic Advisor to the Finance Commission, India Raquel Ramos is currently a PhD research student at Université Paris 13 Nord, and a Macroeconomist at UNDP, International Policy Centre for Inclusive Growth Anis Chowdhury, School of Economics and Finance, University of Western Sydney, Australia Sarah Anwar is currently a Project Manager at Diversity Group Leanne Roncolato, American University, USA Irmgard Nübler is a Coordinator for the Industrial Policies and Employment Programme at the International Labour Organization (ILO) Christoph Ernst is affiliated with the International Labour Organization (ILO) Christina Behrendt is a Social Policy Specialist at the International Labour Organization (ILO) Massimiliano La Marca is an Economic Policy Specialist at the International Labour Organization (ILO). He previously worked as an Economist for UNCTAD Sangheon Lee is a Research and Policy Coordinator for the Conditions of Work and Employment Programme at the International Labour Office (ILO) Rossana Galli is affiliated with Birkbeck College, University of London, UK Fares Al-Hussami is a Junior Economist/Policy Analyst at the OECD

• 1. Introduction; Iyanatul Islam and David Kucera Part I: Limits Of The Conventional Macroeconomic Policy Framework 2. Dispensing Macroeconomic Policy Advice to Developing Countries: The IMF's Article IV Consultations; Iyanatul Islam, Ishraq Ahmed, Rathin Roy and Raquel Ramos 3. Fiscal Consolidation: Issues and evidence; Anis Chowdury and Iyanatul Islam 4. Should Developing Countries Target Low, Single Digit Inflation?; Sarah Anwar and Iyanatul Islam Part II: STRUCTURAL TRANSFORMATION AND THE DEVELOPMENT OF CAPABILITIES 5. Structure Matters: Sectoral Drivers of Development and the Labour Productivity-Employment Relationship; David Kucera and Leanne Roncolato 6. Creating Productive Capacities, Employment and Capabilities for Development: The Case of Infrastructure Investment; Irmgard Nübler and Christoph Ernst 7. Investing in People: Extending Social Security through National Social Protection Floors; Christina Behrendt PART III: INEQUALITY, WAGES AND THEIR MACROECONOMIC CONSEQUENCES 8.Wages and Growth in Open Economics: A Policy Dilemma?; Massimiliano La Marca and Sangheon Lee 9. Keeping Up With the Joneses Or Keeping One's Head Above Water? Inequality and the Post-2007 Crisis; David Kucera, Rossana Galli and Fares Al-Hussami