Showing 1 - 10 of 461
We revisit the question of the quantitative benefits of WTO trade agreements in a setup that is non-standard from the traditional trade policy point of view. We show that in a New Keynesian model, unilateral trade liberalization reduces welfare due to terms-of-trade deterioration, creating an...
Persistent link: https://www.econbiz.de/10013025504
The paper reviews recent developments in the pass-through of international to domestic petroleum product prices, in the different fuel pricing regimes, and in fuel subsidies in a range of emerging market and developing economies. The main finding of the paper is the limited price pass-through in...
Persistent link: https://www.econbiz.de/10012777198
countries' own interests. The potential fiscal, environmental and welfare impacts of energy subsidy reform are substantial …
Persistent link: https://www.econbiz.de/10013021777
consumption to changes in energy prices and the implications of our findings for the debate on energy subsidy reform. Our findings … significant long-term benefits from the reform of energy subsidies. Our findings also indicate that short-term gains from subsidy … reform are likely to be much smaller, which suggests the need for either a gradual approach to subsidy reform or for more …
Persistent link: https://www.econbiz.de/10013063763
percent of the 2020 subsidy reflects undercharging for supply costs (explicit subsidies) and 92 percent for undercharging for …
Persistent link: https://www.econbiz.de/10013306748
With the recent jump in world oil prices, the issue of petroleum product pricing has become increasingly important in …
Persistent link: https://www.econbiz.de/10012779102
The post-crisis financial sector framework reform remains incomplete. While capital and liquidity requirements have been strengthened, doubts remain over other aspects, including the fact that expectations of government support for systemically-important banks (SIBs) remain intact. In this...
Persistent link: https://www.econbiz.de/10012977356
This paper shows that high energy subsidies and low public social spending can emerge as an equilibrium outcome of a political game between the elite and the middle-class when the provision of public goods is subject to bottlenecks, reflecting weak domestic institutions. We test this and other...
Persistent link: https://www.econbiz.de/10013021781
, competitiveness, and distribution. The paper overviews country experience with subsidy reform, drawing lessons …
Persistent link: https://www.econbiz.de/10013026918
illustrate when a destination-based cash-flow tax is equivalent to a combination of a consumption tax and a labor subsidy, as the …
Persistent link: https://www.econbiz.de/10012929934