We present regional evidence on Okun's Law using original data for two emerging countries, namely the Czech Republic and Slovakia. We unveil the presence of important regional heterogeneities, as in many Czech and Slovak regions Okun's Law is not significant. Among the drivers of these regional...

In response to the recent financial crisis, many governments adopted fiscal stabilization policies, whose multiplier effects generated considerable interest in academia and among policy makers. After a brief review of the foundations of fiscal multipliers, the paper presents the methods used to...

Recent work draws attention to the fragility of domestic tax revenues-a vital resource for the developing world-to illicit financial flows. To cope with two major challenges in the illicit financial flows-tax revenues relationship-related to the mere illicit financial flows measurement and...