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We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in aggregate demand....
Persistent link: https://www.econbiz.de/10010800974
efficiency, equity, and administrative and compliance costs. This paper analyzes tax expenditures in Italy, considering the …
Persistent link: https://www.econbiz.de/10011123882
This paper explores the impact of fiscal decentralization on the efficiency of public service delivery. It uses a … stochastic frontier method to estimate time-varying efficiency coefficients and analyzes the impact of fiscal decentralization on … those efficiency coefficients. The findings indicate that fiscal decentralization can improve the efficiency of public …
Persistent link: https://www.econbiz.de/10011242349
services) for a panel of 168 countries over the period 1970-2010. The analysis points to large differences in sector shares … that policy and insitutional variables, such as product market reforms, openness to trade, human and physical capital, and …
Persistent link: https://www.econbiz.de/10010790237
Delegating fiscal decision making power to sub-national governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the...
Persistent link: https://www.econbiz.de/10011142062
, including from sub-Saharan Africa (SSA). This paper estimates the impact of changes in China’s investment growth on SSAâ …. Based on panel data analysis, a 1 percentage point increase (decline) in China’s domestic investment growth is associated …
Persistent link: https://www.econbiz.de/10011142109
Africa will account for 80 percent of the projected 4 billion increase in the global population by 2100. The …
Persistent link: https://www.econbiz.de/10010959480
Persistent link: https://www.econbiz.de/10005264269
actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive …
Persistent link: https://www.econbiz.de/10008560420
public investment efficiency and a learning-by-doing (LBD) externality that captures Dutch disease effects. On the policy … - financing a higher current account deficit - which is influenced by the central bank's reserve accumulation policies. We … - raise its efficiency. …
Persistent link: https://www.econbiz.de/10008560423