It has become common wisdom amongst monetary policy professionals that central banks in Latin America should adopt inflation targeting. Pure inflation targeting implicitly assumes a social loss welfare function dependent on only inflation. In this paper using subjective well-being survey data...

This paper examines whether an expansion in the supply of public preschool crowds out private enrollment, using rich data for municipalities in Brazil from 2000-2006, where federal transfers to local governments change discontinuously with given population thresholds. Results from a...

Several countries have implemented programs to support their firms¿ internationalization efforts. Their impacts are likely to be heterogeneous over firm size categories because these programs are primarily intended and expected to benefit smaller companies. Whether this is or not the case is...

The recent global financial crisis has put the spotlight on macro-prudential policies to protect firms and households from problems emanating from the financial sector. This paper proposes an analytical framework that combines exogenous and endogenous risks, the latter seen as stemming from...

La Gerencia de CID ha dado la prioridad desde el 2009 a la Gestión de Cartera por Resultados a través de la Planificación Estratégica de los Proyectos. Se planteó como un objetivo fortalecer el desarrollo e implementación de estándares y procedimientos específicos, que aseguren un aporte...