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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

Dynamic taxation, private information and money

Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009

frictions giving rise to money as a medium of exchange are explicitly modeled. The framework is a three period OLG model where … production efficiency in the search market. In the absence of record-keeping, the government uses flat money as a substitute for … distortionary taxation of money may be needed as part of the optimal policy even if lump-sum taxes are available. …

Persistent link: https://www.econbiz.de/10005077872

Money and capital: a quantitative analysis

Aruoba, S. Boragan; Waller, Christopher J.; Wright, Randall - Federal Reserve Bank of St. Louis - 2009

We study the effects of money (anticipated inflation) on capital formation. Previous papers on this topic adopt reduced …-form approaches, putting money in the utility function or imposing cash in advance, but use otherwise frictionless models. We follow a … literature that is more explicit about the frictions making money essential. This introduces several new elements, including a …

Persistent link: https://www.econbiz.de/10005077876

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

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

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

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

Channel systems: Why is there a positive spread?

Berentsen, Aleksander; Marchesiani, Alessandro; Waller, … - Federal Reserve Bank of St. Louis - 2010

money market rate and the volumes traded at the ECB’s deposit and lending facilities in response to the recent financial …

Persistent link: https://www.econbiz.de/10008690980