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A monthly indicator of economic growth for low income countries
Stanger, Michael - 2020
Monthly economic indicators support policy analysis of current economic developments and forecasting. This paper presents an overview of the data and statistical requirements to develop those indicators taking into account resource constraints that LIC typically face. We review statistical...
Persistent link: https://www.econbiz.de/10012252734
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How should we measure city size? : theory and evidence within and across rich and poor countries
Jedwab, Remi; Loungani, Prakash; Yezer, Anthony M. J. - 2019
It is obvious that holding city population constant, differences in cities across the world are enormous. Urban giants … are easily reconciled mathematically as population is the product of land area, structure space per unit land (i ….e., heights), and population per unit interior space (i.e., crowding). The first two are far larger in the cities of developed …
Persistent link: https://www.econbiz.de/10012103748
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Trust what you hear : policy communication, expectations, and fiscal credibility
End, Nicolas; Hong, Gee Hee - 2022
How do policy communications on future f iscal targets af fect market expectations and beliefs about the future conduct of f iscal policy? In this paper, we develop indicators of f iscal credibility that quantify the degree to which policy announcements anchor expectations, based on the...
Persistent link: https://www.econbiz.de/10013170265
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A medium-scale DSGE model for the integrated policy framework
Adrian, Tobias; Gaspar, Vítor; Vitek, Francis - 2022
This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic general equilibrium (DSGE) model of the world...
Persistent link: https://www.econbiz.de/10013170322
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Fiscal dominance in Sub-Saharan Africa revisited
Hooley, John; Nguyen, Lam; Saito, Mika; Towfighian, … - 2021
This paper explores the causes and consequences of fiscal dominance over monetary policy in Sub-Saharan Africa (SSA). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and increasingly so as fiscal deficits and public debt are...
Persistent link: https://www.econbiz.de/10012517915
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A time to build : does technical assistance matter for revenue mobilization?
Chami, Ralph; Darkey, Elorm; Williams, Oral Highworth - 2021
We use a unique data set for 115 countries, from 2000-18, and 5-year non-overlapping averages to explore the impact of technical assitance on revenue mobilization. To the authors' knowledge this is the first such effort to determine a direct relationship between technical assistance and the...
Persistent link: https://www.econbiz.de/10012518287
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Credit cycles, fiscal policy, and global imbalances
Jones, Callum; Rabanal, Pau - 2021
We study the role that changes in credit and fiscal positions play in explaining current account fluctuations. Empirically, the current account declines when credit increases, and when the fiscal balance declines. We use a two-country model with financial frictions and fiscal policy to study...
Persistent link: https://www.econbiz.de/10012518319
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Fiscal policy challenges for Latin America during the next stages of the pandemic : the need for a fiscal pact
Cárdenas S., Mauricio; Ricci, Luca Antonio; Roldós, … - 2021
The fiscal policy response to the COVID-19 shock in most LAC countries was much larger than during the GFC, suggesting fiscal space was not as tight as expected. We argue that it is feasible and desirable, though not without risks, to embark in a more gradual consolidation path than currently...
Persistent link: https://www.econbiz.de/10012518923
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SDG financing options in Rwanda : a post-pandemic assessment
Lledó, Victor D.; Perrelli, Roberto - 2021
This paper uses a novel macroeconomic framework to identify policy and financing options to help Rwanda achieve its sustainable development goals (SDGs). Under current policies, Rwanda would meet its SDGs right after 2050. Active policies that combine fiscal reforms and higher private sector...
Persistent link: https://www.econbiz.de/10012605067
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A simple macrofiscal model for policy analysis : an application to Morocco
Baksa, Dániel; Bulíř, Aleš; Cardarelli, Roberto - 2021
The paper describes a semistructural macrofiscal approach to simulating and forecasting macroeconomic policies. The model focuses on only a few variables that are consistent with the New Keynesian framework. Thanks to its simplicity, it facilitates an initial and intuitive understanding of...
Persistent link: https://www.econbiz.de/10012605598