Global growth projections have waned since last year and growth may be suppressed below potential for several years to come. Lower global growth will, all things being equal, imply lower growth in Latin America and the Caribbean. At the same time, clear limits to the potential use of monetary...

This study develops a framework to investigate the optimal allocation of a country's fiscal resources to help equalize opportunities for human development. The author argues that the proper role for policy is the pursuit of equality of opportunities as opposed to equality of outcomes. Because...