Showing 1 - 10 of 25
Foreign aid is a sizable source of government financing for several developing countries and its allocation matters for the conduct of fiscal policy. This paper revisits fiscal effects of shifts in aid dependency in 59 developing countries from 1960 to 2010. It identifies structural shifts in...
Persistent link: https://www.econbiz.de/10012977858
The paper examines the joint impact of inflation targeting (IT) and fiscal rules (FR) on fiscal behavior and inflation in a broad panel of advanced and developing economies over the period 1990-2009. The main contribution of the paper is to show that, as suggested by the theoretical literature,...
Persistent link: https://www.econbiz.de/10013051597
The “Great Trade Collapse” triggered by the 2008-09 crisis calls for a careful assessment of the trade losses from financial crises. We adopt a more detailed perspective by looking at the response of different types of trade (i.e. agricultural, mining, and manufactured goods, and services)...
Persistent link: https://www.econbiz.de/10013306783
This paper studies whether fiscal policy plays a stabilizing role in the context of import food price shocks. More precisely, the paper assesses whether fiscal policy dampens the adverse effect of import food price shocks on household consumption. Based on a panel of 70 low and middle-income...
Persistent link: https://www.econbiz.de/10013243071
A hypothetical European Minimum Wage (MW) set at 60 percent of each country's median wage would reduce in-work poverty but have limited effects on overall poverty, as many poor households do not earn a wage near MW and higher unemployment, higher prices, and a loss of social insurance benefits...
Persistent link: https://www.econbiz.de/10012831607
We analyze the impact of trade policy uncertainty on investment in the euro area. Our identification strategy assumes that countries that are relatively more dependent on global trade networks exhibit a higher sensitivity of investment with respect to trade uncertainty. We find that the...
Persistent link: https://www.econbiz.de/10012892915
This paper investigates the microeconomic origins of aggregate economic fluctuations inEurope. It examines the relevance of idiosyncratic shocks at the top 100 large firms (thegranular shocks) in explaining aggregate macroeconomic fluctuations. The paper alsoassesses the strength of spillovers...
Persistent link: https://www.econbiz.de/10012942339
We posit that the relationship between income inequality and economic growth ismediated by the level of equality of opportunity, which we identify with intergenerationalmobility. In economies characterized by intergenerational rigidities, an increase in incomeinequality has persistent...
Persistent link: https://www.econbiz.de/10012889158
The age-distribution of Europe's workforce has shifted towards older workers over the past few decades, a process expected to accelerate in the years ahead. This paper studies the effect of the aging of the workforce on labor productivity, identifies the main transmission channels, and examines...
Persistent link: https://www.econbiz.de/10012962166
Foreign holdings of emerging markets (EMs) government bonds have increased substantially over the last decade. While foreign participation in local-currency sovereign bond markets provides an additional source of financing and reduces sovereign yields, it raises concerns about increased...
Persistent link: https://www.econbiz.de/10013019036