This paper studies how fiscal policy affects loan market conditions in the US. First, it conducts a Structural Vector-Autoregression analysis showing that the bank spread responds negatively to an expansionary government spending shock, while lending increases. Second, it illustrates that these...

The Poverty Reduction Strategy Paper (PRSP) has been developed for eradicating poverty in Armenia. It analyzes the poverty situation of Armenia, and evaluates the methodology and methodological issues. It discusses the PRSP goals, main policy directions, solution to poverty, and the reduction of...

Using urban household surveys, we constructed a panel dataset to study the effects of the Argentine macroeconomic crisis of 1999-2002 with the aim of (1) identifying the most vulnerable households, (2) investigating whether employment in the public sector and government spending served to...

The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in particular. A particular emphasis is put on...

This paper examines the progress report on Azerbaijan Republic’s Poverty Reduction Strategy Paper. The share of the production and non-oil sector in GDP has increased. The shares of industry, construction, wholesale, and retail and service sectors increased, while the shares of...

The paper develops a general equilibrium framework to examine the economic implications of population aging in Japan. Particular attention is paid to aggregate saving behavior which is modeled on the basis of empirical age-earnings profiles using a life-cycle approach. The paper's objectives are...

The report provides the details of the assessment on Mongolia’s Poverty Reduction Strategy Paper. It describes the Economic Growth and Poverty Reduction Strategy (EGPRS), which presents main policy directions of the government with a focus on economic growth acceleration and poverty...

The Poverty Reduction Strategy (PRS) of the Republic of Tajikistan for 2010–12 aims to serve as a medium-term program for the implementation of the National Development Strategy up to 2015. It will determine the major socioeconomic development of the country during this period, taking...

This paper focuses on Senegal’s second poverty reduction strategy paper (PRSP–II). It summarizes the results of the participatory PRSP review process prior to final validation and adoption by the government. As an economic and social policy document for growth and poverty reduction...

Developing and boosting the private sector, in the area of industry, trade, and private sector, actions for securing investment, promoting investment, developing partnerships in Madagascar produced positive results. The investment rate is 12.37 percent out of an objective of 14 percent. The...