State-contingent debt instruments such as GDP-linked warrants have garnered attention as a potential tool to help debt-stressed economies smooth repayments over business cycles, yet very few studies of the empirical properties of these instruments exist. This paper develops a general f ramework...

Variation in urban density is a core determinant of patterns of productivity within countries, but does it also shape patterns of trade across countries? We develop a strategy to estimate the extent to which local population density boosts productivity in each industry. Combining these...

This paper investigates whether and why pensioners move across borders in response to tax rate differentials. In 2013, retirees relocating to Portugal became eligible to a full tax exemption of foreign-source pensions. Contrary to the broadly held belief that seniors "age in place", we find...

This paper assesses the dynamic impact of global macroeconomic conditions, commodity price movements, shifts in portfolio preferences, and domestic shocks on fiscal outcomes-notably the budget deficit, its main components, and debt-across a wide range of countries. Heterogeneity is investigated...

State-contingent debt instruments such as GDP-linked warrants have garnered attention as a potential tool to help debt-stressed economies smooth repayments over business cycles, yet very few studies of the empirical properties of these instruments exist. This paper develops a general f ramework...

This paper aims to identify the reasons why economic growth in Egypt, although comparable to its peers, failed to significantly reduce unemployment, lower poverty levels or raise overall productivity. We use cross-country comparisons, counterfactual scenarios and regression analysis to...

This paper aims to identify the reasons why economic growth in Egypt, although comparable to its peers, failed to significantly reduce unemployment, lower poverty levels or raise overall productivity. We use cross-country comparisons, counterfactual scenarios and regression analysis to...