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Lora, Eduardo; Pagés-Serra, Carmen; Panizza, Ugo; … - Inter-American Development Bank - 2004

The Research Department of the IDB (RES) performs innovative, comparative research on the development issues of greatest concern to the region today. It generates a wide variety of products based on this research and disseminates them to three principal audiences: the Bank, policymakers and the...

Persistent link: https://www.econbiz.de/10010673646

Who Decides the Budget?: A Political Economy Analysis of the Budget Process in Latin America

Scartascini, Carlos; Stein, Ernesto H.; Abuelafia, Emmanuel - Inter-American Development Bank - 2009

This book explains how economies, institutions, and politics interact to produce budget outcomes in Latin America, a region in which informality dominates public governance. It includes detailed country analyses which provide comparative knowledge about the workings of policymaking and budget...

Persistent link: https://www.econbiz.de/10010673728

Regional Integration and the Location of FDI

Yeyati, Eduardo Levy; Stein, Ernesto H.; Daude, Christian - Inter-American Development Bank - 2002

empirical exercises that follow. First, a brief stylized description of two different approaches to foreign investment that have …

Persistent link: https://www.econbiz.de/10010672477

The Free Trade Area of the Americas (FTAA) and the Location of Foreign Direct Investment (FDI)

Yeyati, Eduardo Levy; Stein, Ernesto H.; Daude, Christian - Inter-American Development Bank - 2003

This presentation discusses the effects of the Free Trade Area of the Americas (FTAA) on foreign direct investment (FDI …

Persistent link: https://www.econbiz.de/10009193776

Elections and the Timing of Devaluations

Stein, Ernesto H.; Streb, Jorge M. - Inter-American Development Bank - 1999

This paper presents a rational political budget cycle model for an open economy, in which devaluations are delayed in the pre-election period so as to increase the electoral chances of the party in office. By concentrating on closed economies, previous political cycle models had overlooked the...

Persistent link: https://www.econbiz.de/10010944007

Institutional Arrangements and Fiscal Performance: The Latin American Experience

Stein, Ernesto H.; Talvi, Ernesto; Grisanti, Alejandro - Inter-American Development Bank - 1998

This paper considers whether institutional factors, in this instance electoral systems and procedures, affect Latin American countries' fiscal performance as measured by the size of the public sector, fiscal deficits, the size of the public debt, and the degree of procyclality of fiscal policy....

Persistent link: https://www.econbiz.de/10010944009

Democracy, Decentralisation and Deficits in Latin America

Hausmann, Ricardo; Gavin, Michael; Hallerberg, Mark; … - Inter-American Development Bank - 1998

What is the impact of political decentralisation in Latin America? This book considers the problems raised by political decentralisation in the region and identifies the challenges ahead. Political decentralisation tends to devolve a certain amount of financial responsibility to the sub-national...

Persistent link: https://www.econbiz.de/10010673841

The Currency Game: Exchange Rate Politics in Latin America

Stein, Ernesto H.; Salazar, Natalia; Steiner, Roberto; … - Inter-American Development Bank

This book analyzes the political economy of exchange rate policy in Latin America. It brings together the work of economists and political scientists interested in the interaction of economic and political factors in the development of exchange rate policy.

Persistent link: https://www.econbiz.de/10010943577

The monetary instrument matters

Gavin, William T.; Keen, Benjamin D.; Pakko, Michael R. - Federal Reserve Bank of St. Louis - 2005

This paper revisits the issue of money growth versus the interest rate as the instrument of monetary policy. Using a … of inflation relative to money growth depends on whether the central bank follows a money growth rule or an interest rate … rule. With a money growth rule, inflation is not persistent and the price level is much more volatile than the money supply …

Persistent link: https://www.econbiz.de/10005352925

Inflation risk and optimal monetary policy

Gavin, William T.; Keen, Benjamin D.; Pakko, Michael R. - Federal Reserve Bank of St. Louis - 2007

This paper shows that the optimal monetary policies recommended by New Keynesian models still imply a large amount of inflation risk. We calculate the term structure of inflation uncertainty in New Keynesian models when the monetary authority adopts the optimal policy. When the monetary policy...

Persistent link: https://www.econbiz.de/10005490907