Continuing the empirical debate on the effects of IMF-supported programs on participating countries' macroeconomic performance, we focus on the issue of whether these programs accelerate conditional AY-convergence among low-income countries (LICs). We use an unbalanced panel dataset for 85 LICs...

This paper seeks to illuminate the uncertainty in official GDP per capita measures using auxiliary data. Using satellite-recorded nighttime lights as an additional measurement of true GDP per capita, we provide a statistical framework, in which the error in official GDP per capita may depend on...

This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...

This paper provides evidence of a strong relationship between the short-term dynamics of growth and inequality in developing economies. We find that reductions in inequality during growth upswings are largely reversed during growth slowdowns. Using a new methodology (mediation analysis), we...

We evaluate the impact of fiscal reforms on growth and inequality in Cambodia using a calibrated general equilibrium model with heterogeneous agents (Peralta-Alva and others, 2018). Over the last two decades, Cambodia's consumption inequality and poverty have declined. However, income inequality...

This paper uses an untapped source of satellite-recorded nightlights and gas flaring data to characterize the contraction of economic activity in Yemen throughout the ongoing conflict that erupted in 2015. Using estimated nightlights elasticities on a sample of 72 countries for real GDP and 28...