Showing 1 - 10 of 109
Ricardian channel through which households reduce consumption in anticipation of future fiscal adjustments …
Persistent link: https://www.econbiz.de/10012245833
reduce consumption in anticipation of future fiscal adjustments when fiscal stimulus is implemented from a weak fiscal …
Persistent link: https://www.econbiz.de/10012008266
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
Transfers to individuals were a larger part of the 2009 U.S. stimulus package than government purchases. Using a two-agent New Keynesian model, this paper shows analytically that the multiplier on targeted transfers to financially constrained households is (i) larger than the purchase multiplier...
Persistent link: https://www.econbiz.de/10012245731
This report by the Office of the Chief Economist for Latin America and the Caribbean (LAC) of the World Bank studies the region's fiscal policies. After reviewing LAC's growth performance, Chapter 1 provides an accounting of its financing needs during the 21st Century to understand how such a...
Persistent link: https://www.econbiz.de/10012247900
With the benefit of hindsight, this paper provides a fresh and comprehensive look at the causes of the 2014-16 collapse in oil prices and its impact on the global economy. It disentangles the contribution of supply and demand factors, assesses the impact on activity in oil exporters and oil...
Persistent link: https://www.econbiz.de/10011866289
Ethiopia's framework for managing its monetary and foreign exchange policy has relied on some standard instruments of financial repression. Over time, the framework has led to the buildup of large macro-financial imbalances. Exiting financial repression while maintaining macroeconomic stability...
Persistent link: https://www.econbiz.de/10012168071
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
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
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