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Cross-region transfers in a monetary union : evidence from the US and some implications

Pennings, Steven - 2020

US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and...

Persistent link: https://www.econbiz.de/10012241154

Latin American growth : a trade perspective

Torre, Augusto de la; Ize, Alain - 2019

This paper reviews the determinants of Latin America's uneven growth based on an accounting decomposition that breaks down countries' growth (relative to the world) into three trade-related channels: (i) an export pull measuring the traction exerted by the country's exports, (ii) an external...

Persistent link: https://www.econbiz.de/10012051845

Poverty convergence in a time of stagnation : a municipal-level perspective from Mexico (1992–2014)

López-Calva, Luis F.; Ortiz-Juarez, Eduardo; … - 2019

This paper exploits a novel municipal-level data set to explore patterns of convergence in income and poverty in Mexico … evidence of income and poverty convergence at the municipal level. The findings suggest that these convergence processes stem …

Persistent link: https://www.econbiz.de/10012121224

Productivity convergence is anyone catching up?

Kindberg-Hanlon, Gene; Okou, Cedric - 2020

percent. Average productivity growth in EMDEs has picked up rapidly since 2000, renewing interest in the convergence … rate of convergence remains low, with current growth differentials halving the productivity gap only after over 100 years …. Behind the low average pace of convergence lies considerable diversity among groups of countries converging toward different …

Persistent link: https://www.econbiz.de/10012297202

Reversal of fortune for political incumbents after oil shocks

Arezki, Rabah; Djankov, Simeon; Nguyen, Ha; Yotzov, Ivan - 2020

incumbents. The analysis verifies that these shocks - which reduce consumption growth - are associated with worsening performance …

Persistent link: https://www.econbiz.de/10012257010

Dollarization dilemma : price stability at the cost of external competitiveness in Cambodia

Samreth, Sovannroeun; Sánchez-Martín, Miguel Eduardo; … - 2019

Cambodia has recorded both rapid economic growth and macroeconomic stability in recent decades despite (or thanks to) high levels of dollarization. Previous studies on dollarization in Cambodia have largely focused on examining its causes and estimating seigniorage losses. As an attempt to...

Persistent link: https://www.econbiz.de/10012051925

Inflation in low-income countries

Ha, Jongrim; Ivanova, Anna; Montiel, Peter; Pedroni, … - 2019

This paper studies the effects of global and domestic inflation shocks on core price inflation in 105 countries between 1970 and 2016, by using a heterogeneous panel vector-autoregressive model. The methodology allows accounting for differences across groups of countries (advanced economies,...

Persistent link: https://www.econbiz.de/10012059222

When the cycle becomes the trend : the emerging market experience with fiscal policy during the last commodity super cycle

Amra, Rashaad; Hanusch, Marek; Jooste, Charl - 2019

Fiscal buffers have shrunk across the world. This paper argues that limited fiscal room in emerging market economies today is partly due to the commodity super cycle of 2000-15. The super cycle created the mirage that economic performance had structurally improved, mistaking a long,...

Persistent link: https://www.econbiz.de/10012004767

One rule fits all? : heterogeneous fiscal rules for commodity exporters when price shocks can be persistent : theory and evidence

Mendes, Arthur; Pennings, Steven - 2020

Commodity-exporting developing economies are often characterized as having needlessly procyclical fiscal policy: spending when commodity prices are high and cutting back when prices fall. The standard policy advice is instead to save during price windfalls and maintain spending during price...

Persistent link: https://www.econbiz.de/10012296870

A decade after the 2009 Global Recession : macroeconomic and financial sector policies

Koh, Wee Chian; Yu, Shu - 2020

Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession...

Persistent link: https://www.econbiz.de/10012257017