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This paper considers the role of country-level opacity (the lack of availability of information) in amplifying shocks emanating from financial centers. We provide a simple model where, in the presence of ambiguity (uncertainty about the probability distribution of returns), prices in emerging...
Persistent link: https://www.econbiz.de/10012667558
We find that data transparency policy reforms, reflected in subscriptions to the IMF's Data Standards Initiatives (SDDS …
Persistent link: https://www.econbiz.de/10011670527
The paper analyzes how the UNDP, the World Bank, and the IMF classify countries based on their level of development. These systems are found lacking in clarity with regard to their underlying rationale. The paper argues that a country classification system based on a transparent, data-driven...
Persistent link: https://www.econbiz.de/10014402996
among European subnational governments. We use political variables describing the fiscal attitudes of the central government … is, large differences in revenue and spending assignments across the different levels of government. These findings imply …
Persistent link: https://www.econbiz.de/10011705636
Trends in the size of U.S. government are examined. In the postwar period, general government primary spending rose by … view of the size of government. Looking forward, the retirement of baby boomers appears likely to expand government and …
Persistent link: https://www.econbiz.de/10014400885
This paper examines interactions between self-interested agents in a two-tier government hierarchy, consisting of a …
Persistent link: https://www.econbiz.de/10014399923
Central government wage expenditures accounted for 7 percent of GDP in 99 countries during 1980-90 (unweighted average … countries, and small low-income economies tend to have lower central government wage expenditures as a percent of GDP. Access to … foreign financing is not; the public and publicly guaranteed foreign financing is often provided for government capital …
Persistent link: https://www.econbiz.de/10014398730