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When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies

Bordon, Anna R. - 2016

Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before a...

Persistent link: https://www.econbiz.de/10012993724

Commodity Price Shocks and Imperfectly Credible Macroeconomic Policies in Commodity-Exporting Small Open Economies

Medina Guzman, Juan Pablo - 2014

effectiveness of macroeconomic policies to isolate the economy from commodity price fluctuations. We develop a general equilibrium … model for a commodity-exporting economy where macro policies are conducted through rules. We show that the responses of … isolate the economy from terms of trade fluctuations …

Persistent link: https://www.econbiz.de/10013057311

Cyclical Fiscal Rules for Oil-Exporting Countries

Snudden, Stephen - 2013

Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Using a global DSGE model, the efficient design of such rules is found to depend on...

Persistent link: https://www.econbiz.de/10013071925

Tracking Economic and Financial Policies During COVID-19 : An Announcement-Level Database

Kirti, Divya; Liu, Yang; Martínez Pería, María Soledad; … - 2022

We introduce a new comprehensive announcement-level database tracking the extraordinary fiscal, monetary, prudential, and other policies that countries adopted in response to Covid-19. The database provides detailed information, including sizes where available, for 28 granular policies adopted...

Persistent link: https://www.econbiz.de/10014082213

Accounting Standards and Insurer Solvency Assessment

Windsor, Peter; Yong, Jeffery; Chong-Tai Bell, Michelle - 2021

The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall, IFRS 17 is a welcome development but there will be challenges of implementation....

Persistent link: https://www.econbiz.de/10013315127

Institutional Transformations, Polity and Economic Outcomes : Testing the North-Wallis-Weingast Doorsteps Framework

Quintyn, Marc - 2012

This paper tests the theoretical framework developed by North, Wallis and Weingast (2009) on the transition from closed to open access societies. They posit that societies need to go through three doorsteps: the establishment of rule of law among elites; the adoption of perpetually existing...

Persistent link: https://www.econbiz.de/10013108474

How Far is Eastern Europe from Brussels?

Sahay, Ratna; Végh Gramont, Carlos - 2021

The current destination of Central and Eastern European countries—explicitly for some, implicitly for all—is Brussels. The concept of the distance from Brussels is multi-dimensional. One simple measure, not without theoretical and empirical justification, is physical distance. This paper’s...

Persistent link: https://www.econbiz.de/10013212116

India in the 1980s and 1990s : A Triumph of Reforms

Panagariya, Arvind - 2014

Bradford DeLong and Dani Rodrik have argued that reforms in India cannot be credited with higher growth because the growth rate crossed the 5 percent mark in the 1980s, well before the launch of the July 1991 reforms. This is a wrong reading of the Indian experience for two reasons. First,...

Persistent link: https://www.econbiz.de/10012752441

Make in India

Anand, Rahul - 2015

Structural transformation depends not only on how much countries export but also on what they export and with whom they trade. This paper breaks new ground in analyzing India's exports by the technological content, quality, sophistication, and complexity of the export basket. We identify five...

Persistent link: https://www.econbiz.de/10012679201

Structural Reforms and Regional Convergence

Spilimbergo, Antonio - 2012

Which structural reforms affect the speed the regional convergence within a country? We found that domestic financial development, trade/current account openness, better institutional infrastructure, and selected labor market reforms facilitate regional convergence. However, these reforms have...

Persistent link: https://www.econbiz.de/10013101519