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Stahl, Konrad O.; Strausz, Roland - CESifo - 2011

Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer …-induced certification acts as an inspection device, seller-induced certification as a signalling device. Seller-induced certification … maximizes the certifier’s profit and social welfare. This suggests the general principle that certification is, and should be …

Persistent link: https://www.econbiz.de/10008853867

Growth and Volatility of Tax Revenues in Latin America

Fricke, Hans - 2011

Against the background of a notoriously high macroeconomic instability and the need to raise tax revenues to meet the demands of public spending, this paper analyzes the tradeoff between growth and volatility of tax revenues in Latin America. We use a two-step Engle-Granger-type model to...

Persistent link: https://www.econbiz.de/10013130748

Business Cycles, International Trade and Capital Flows : Evidence from Latin America

Caporale, Guglielmo Maria - 2013

This paper adopts a flexible framework to assess both short- and long-run business cycle linkages between six Latin American (LA) countries and the four largest economies in the world (namely the US, the Euro area, Japan and China) over the period 1980:I-2011:IV. The result indicate that within...

Persistent link: https://www.econbiz.de/10013089557

International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries : Some Panel Evidence

Caporale, Guglielmo Maria - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10013155428

Schooling, Cognitive Skills, and the Latin American Growth Puzzle

Hanushek, Eric A. - 2009

Economic development in Latin America has trailed most other world regions over the past four decades despite its relatively high initial development and school attainment levels. This puzzle can be resolved by considering the actual learning as expressed in tests of cognitive skills, on which...

Persistent link: https://www.econbiz.de/10013158651

The EMBI in Latin America : Fractional Integration, Non-Linearities and Breaks

Caporale, Guglielmo Maria - 2015

This paper analyses the main statistical properties of the Emerging Market Bond Index (EMBI), namely long-range dependence or persistence, non-linearities, and structural breaks, in four Latin American countries (Argentina, Brazil, Mexico, Venezuela). For this purpose it uses a fractional...

Persistent link: https://www.econbiz.de/10013009842

Engineering Growth : Innovative Capacity and Development in the Americas

Maloney, William F.; Valencia Caicedo, Felipe - 2021

This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory - the engineer. It collects cross-country and state level data on the labor share of engineers for the Americas, and county level data on engineering and patenting for the US during...

Persistent link: https://www.econbiz.de/10013315467

Fiscal Shocks and Real Exchange Rate Dynamics : Some Evidence for Latin America

Caporale, Guglielmo Maria; Ciferri, Davide; Girardi, … - 2021

This paper analyses the effects of fiscal shocks using a two-country macroeconomic model for output, labour input, government spending and relative prices which provides the orthogonality restrictions for obtaining the structural shocks. Dynamic simulation techniques are then applied, in...

Persistent link: https://www.econbiz.de/10013316574

Substitutability and Protectionism : Latin America's Trade Policy and Imports from China and India

Facchini, Giovanni; Olarreaga, Marcelo; Silva, Peri A.; … - 2021

This paper examines the trade policy response of Latin American governments to the rapid growth of China and India in world markets. To explain higher protection in sectors where a large share is imported from these countries, we extend the 'protection for sale' model to allow for different...

Persistent link: https://www.econbiz.de/10013317170

Does Pension Privatization Increase Economic Growth? Evidence from Latin America and Eastern Europe

Altiparmakov, Nikola - 2016

Analyses of pension funding effects on economic growth need to differentiate between ‘carve-out' pension privatization in Latin America and Eastern Europe and typical ‘add-on' pension funding in Western Europe and North America. We find no evidence that pension privatization in Latin America...

Persistent link: https://www.econbiz.de/10012980582

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