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benign international environment, this approach makes it unlikely that the economy will face a collapse in growth. But there … benign international environment, this approach makes it unlikely that the economy will face a collapse in growth. But there …
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financial frictions. The political economy surrounding distributional consequences can sometimes lead to policy measures that …
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). We show that incorporating forward-looking expectations into standard open economy structural VAR models resolves these …
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This chapter provides a critical overview of the state of the art in the economics literature on structural reforms. It takes stock of theoretical developments, measurement efforts and of the econometric evidence. We start with a simple theoretical framework for the relationship between...
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, however, is that there seem to be certain "threshold" levels of financial and institutional development that an economy needs …
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