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It is generally acknowledged that the government’s output is difficult to define and its value is hard to measure. The practical solution, adopted by national accounts systems, is to equate output to input costs. However, several studies estimate significant inefficiencies in government...
Persistent link: https://www.econbiz.de/10013098623
This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies illustrate that capital account liberalization has historically generated large gross capital in-...
Persistent link: https://www.econbiz.de/10013075542
Public health spending is low in emerging and developing economies relative to advanced economies and health outputs and outcomes need to be substantially improved. Simply increasing public expenditure in the health sector, however, may not significantly affect health outcomes if the efficiency...
Persistent link: https://www.econbiz.de/10013075544
The measurement of the efficiency of public education expenditure using parametric and non-parametric methods has proven challenging. This paper seeks to overcome the difficulties of earlier studies by using a hybrid approach to measure the efficiency of secondary education spending in emerging...
Persistent link: https://www.econbiz.de/10013058432
Lockdowns and voluntary social distancing led to significant reduction in people's mobility. Yet, there is scant evidence on the heterogeneous effects across segments of the population. Using unique mobility indicators based on anonymized and aggregate data provided by Vodafone for Italy,...
Persistent link: https://www.econbiz.de/10013250080
The large economic costs of full-blown lockdowns in response to COVID-19 outbreaks, coupled with heterogeneous mortality rates across age groups, led to question non-discriminatory containment measures. In this paper we provide an assessment of the targeted approach to containment. We propose a...
Persistent link: https://www.econbiz.de/10013250084
We show that macroprudential regulation can considerably dampen the impact of globalfinancial shocks on emerging … markets. More specifically, a tighter level of regulation reducesthe sensitivity of GDP growth to VIX movements and capital … andliquidity, foreign currency mismatches, and risky forms of credit. We also find that tightermacroprudential regulation allows …
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