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Cornelia Hammer, Ms. Diane C Kostroch, and Mr. Gabriel Quiros-Romero

. Big data have the potential to help address development challenges and meet demands for compiling Sustainable Development Goals (SDG) indicators, such as gender equality. 6 The private company LinkedIn is already using its granular data to publish gender diversity statistics and provide training on gender statistics ( Karani 2017 ). 19. Following the IMF Big Data and Analytics Symposium, the IMF in-house Big Data Innovation Challenge paved the way for innovative ways to leverage big data in future work of the IMF . The top six ideas were approved for proof of

Cornelia Hammer, Ms. Diane C Kostroch, and Mr. Gabriel Quiros-Romero
Big data are part of a paradigm shift that is significantly transforming statistical agencies, processes, and data analysis. While administrative and satellite data are already well established, the statistical community is now experimenting with structured and unstructured human-sourced, process-mediated, and machine-generated big data. The proposed SDN sets out a typology of big data for statistics and highlights that opportunities to exploit big data for official statistics will vary across countries and statistical domains. To illustrate the former, examples from a diverse set of countries are presented. To provide a balanced assessment on big data, the proposed SDN also discusses the key challenges that come with proprietary data from the private sector with regard to accessibility, representativeness, and sustainability. It concludes by discussing the implications for the statistical community going forward.
International Monetary Fund. Strategy, Policy, & Review Department

. ACKNOWLEDGMENTS We are grateful for the support of this project by the iLab through the AI/ML Innovation Challenge and Catalyst series. We would also like to gratefully acknowledge the support from and the discussions with Michal Andrle, Alberto Behar, Angana Banerji, Fabian Bornhorst, Eugenio Cerutti, Marcos Chamon, Kirpal Chauhan, Qianying Chen, Mali Chivakul, Federico Diaz Kalan, Florence Dotsey, Aquiles Farias, Vikram Haksar, Yuko Hashimoto, Niko Alfred Hobdari, Plamen Iossifov, Tetsuya Konuki, Miguel Lanza, Emilia Magdalena Jurzyk, Maxym Kryshko, Nan Li, Sandra Lizarazo

Randall Dodd

Randall Dodd Three innovations in electronic trading of stocks and options have been in the headlines recently: high-frequency trading, flash trades, and dark pools. Technical improvements such as these are usually assumed to raise efficiency, but these innovations challenge such assumptions and may pose some public interest concerns because of their effect on stability. Studying market microstructures illuminates the processes through which prices are determined. Markets often appear to be magic black boxes. Supply and demand go into the box

International Monetary Fund. Strategy, Policy, & Review Department
The IMF’s Vulnerability Exercise (VE) is a cross-country exercise that identifies country-specific near-term macroeconomic risks. As a key element of the Fund’s broader risk architecture, the VE is a bottom-up, multi-sectoral approach to risk assessments for all IMF member countries. The VE modeling toolkit is regularly updated in response to global economic developments and the latest modeling innovations. The new generation of VE models presented here leverages machine-learning algorithms. The models can better capture interactions between different parts of the economy and non-linear relationships that are not well measured in ”normal times.” The performance of machine-learning-based models is evaluated against more conventional models in a horse-race format. The paper also presents direct, transparent methods for communicating model results.
Mr. Lawrence Norton

supervisors in order to ensure effective supervision. 77 Technology/Innovation: Challenges for Regulators How can legal rules and systems and the relevant regulators cope with new innovative dimensions in economic/business/informational technology, intellectual property, dramatically new and different social, human rights and environmental issues, and in global financial markets? To regulate or not to regulate; how to regulate and/or self-regulate; how to be proactive with and supportive of financial market developments and innovations, while preserving a “safe

International Monetary Fund. External Relations Dept.
Prize or Penalty: When Sports Help Economies Score" looks at why countries vie to host the world's most costly sporting events. And, in a series of articles on "After the Crisis," we discuss why some countries were hit harder than others; how were shocks transmitted round the world, and whether protectionist pressures might intensify in 2010. As usual, we take on a number of hot topics, including housing prices, bankers' bonuses, Ponzi schemes, and inflation targeting. In "Picture This" we see that the number of hungry is on the rise, topping 1 billion. Our regular "People in Economics" column profiles Daron Acemoglu, the Turkish-born intellectual who won the American Economic Association's award in 2005 for the most influential U.S. economist under the age of 40. "Back to Basics" explains inflation; and "Data Spotlight" looks at how dollarization is declining in Latin America. Also includes articles by Nick Stern on climate change and Simon Johnson on bonuses and the "doomsday cycle