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Large Fiscal Episodes and Sustainable Development : Some International Evidence

Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien; Park, … - 2022

This paper examines the association between episodes of large fiscal impulses (expansions and adjustments) and sustainable development indicators (prosperity, resilience, and inclusivity).We provide country studies of Chile, Poland, South Africa, and Thailand, examining the components of...

Persistent link: https://www.econbiz.de/10013309292

Globalization and taste convergence : the cases of wine and beer

Aizenman, Joshua; Brooks, Eileen L. - 2005

data on 38 countries from 1963-2000, there is clear convergence in the consumption of wine relative to beer between 1963 … and 2000. Convergence occurs even more quickly within groups of countries that have a higher degree of integration. A key … converging, several Latin American countries fail to converge. The patterns of convergence are consistent with dynamics of …

Persistent link: https://www.econbiz.de/10011520443

Takeoffs

Aizenman, Joshua; Spiegel, Mark - 2007

This paper identifies factors associated with takeoff - a sustained period of high growth following a period of stagnation. We examine a panel of 241 stagnation episodesʺ from 146 countries, 54 % of these episodes are followed by takeoffs. Countries that experience takeoffs average 2.3% annual...

Persistent link: https://www.econbiz.de/10003855051

De facto fiscal space and fiscal stimulus : definition and assessment

Aizenman, Joshua; Jinjarak, Yothin - 2010

We define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to...

Persistent link: https://www.econbiz.de/10008732193

The fiscal stimulus of 2009-10 : trade openness, fiscal space and exchange rate adjustment

Aizenman, Joshua; Jinjarak, Yothin - 2011

This paper studies the cross-country variation of the fiscal stimulus and the exchange rate adjustment propagated by the global crisis of 2008-9, identifying the role of economic structure in accounting for the heterogeneity of response. We find that greater de facto fiscal space prior to the...

Persistent link: https://www.econbiz.de/10009269999

De facto fiscal space and fiscal stimulus : definition and assessment

Aizenman, Joshua; Jinjarak, Yothin - 2010

We define the notion of 'de facto fiscal space' of a country as the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the...

Persistent link: https://www.econbiz.de/10008699018

Fiscal space and increasing fiscal resilience

Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - 2019

The paper compares fiscal cyclicality across regions and countries from 1960 to 2016. It finds that more than half of 170 countries analyzed in seven regions had, in more recent years, limited fiscal space, and that their fiscal policy was either cyclical or procyclical. This was particularly...

Persistent link: https://www.econbiz.de/10012020530

Military Expenditure, Threats, and Growth

Aizenman, Joshua; Glick, Reuven - 2003

This paper clarifies one of the puzzling results of the economic growth literature: The impact of military expenditure is frequently found to be non-significant or negative, yet most countries spend a large fraction of their GDP on defense and the military. We start by empirical evaluation of...

Persistent link: https://www.econbiz.de/10014087609