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Central Bank Balance Sheet Policies and Spillovers to Emerging Markets

Kumar, Manmohan S. - 2017

We develop a theoretical model that shows that in the near future, the monetary policies of some key central banks in advanced economies (AEs) will have two dimensions — changes in short-term policy rates and balance sheet adjustments. This will affect emerging market economies (EMs),...

Persistent link: https://econbiz.de/10012946610

Transforming Non-renewable Resource Economies (NREs)

Battaile, William G.; Mishra, Saurabh - 2015

This paper provides an empirical benchmarking of growth, productivity and export patterns for developing NREs against other low and middle income developing countries, to inform policy discussions and future analytical work. There is stark heterogeneity in the association of resource sector and...

Persistent link: https://econbiz.de/10012692595

Institutions and growth : a GMM/IV panel VAR approach

Góes, Carlos - 2015

Both sides of the institutions and growth debate have resorted largely to microeconometric techniques in testing hypotheses. In this paper, I build a panel structural vector autoregression (SVAR) model for a short panel of 119 countries over 10 years and find support for the institutions...

Persistent link: https://econbiz.de/10012692627

Estimation of drivers of public education expenditure : Baumol’s effect revisited

Nose, Manabu - 2015

This paper analyzes drivers of rising per-pupil public education spending, including Baumol’s “cost disease” effect. Higher wages paid to teachers contributed significantly to the increase in per-pupil spending over the past decades. Empirical analyses using a large dataset of advanced and...

Persistent link: https://econbiz.de/10012692638

Sub-Saharan employment developments : the important role of household enterprises with an application to Rwanda

Thomas, Alun - 2015

This paper documents the structural transformation in employment that has taken place in Sub-Saharan Africa (SSA) over the past 15 years. In contrast to Asian economies, where at least half of the labor flows out of agriculture have gone into industry, in SSA, most of the workers have ended up...

Persistent link: https://econbiz.de/10012692640

Trends in fiscal transparency : evidence from a new database of the coverage of fiscal reporting

Wang, Rachel F.; Irwin, Timothy C.; Murara, Lewis Kabayiza - 2015

Although there are several measures of fiscal transparency, none provides satisfactory information on certain issues of macroeconomic relevance, including whether fiscal data are available for all of general government, whether the government reports a balance sheet, and whether spending and...

Persistent link: https://econbiz.de/10012692641

Systemic risk assessment in low income countries : balancing financial stability and development

Marchettini, Daniela - 2015

We propose a toolkit for the assessment of systemic risk buildup in low income countries. We show that, due to non-linearity in the relationship between credit and financial stability, the assessment should be conducted with different tools at different stages of financial development. In...

Persistent link: https://econbiz.de/10012692648

Fiscal policy in oil producing countries during the recent oil price cycle

Villafuerte, Mauricio; Lopez-Murphy, Pablo - 2010

Persistent link: https://econbiz.de/10003963109

Systemic risks and the macroeconomy

De Nicolò, Gianni; Lucchetta, Marcella - 2010

Persistent link: https://econbiz.de/10003963117

Constraints on growth in the MENA region

Bhattacharya, Rina; Wolde, Hirut - 2010

Persistent link: https://econbiz.de/10003963145