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World Bank projects and generally find that projects that are potentially politically motivated – such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … Council members with higher short-term debt, however, a negative quality rating is more likely. So we find evidence that World …
Persistent link: https://www.econbiz.de/10013146478
We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...
Persistent link: https://www.econbiz.de/10013126139
The onset of the housing and subsequent financial crisis in 2008 marked the steepest economic downturn in the United. States, since the Great Depression in the late 1920s and 1930s. This most recent financial crisis has been characterized by massive layoffs and displacement. Given the depth of...
Persistent link: https://www.econbiz.de/10012956016
absolute economic misery in the world. In this paper, I focus on an important but relatively underemphasized approach to …
Persistent link: https://www.econbiz.de/10013087872
We investigate the impact of health aid on infant mortality conditional on the quality of governance in 96 recipient countries. Our analysis applies the long difference estimator and instrumental variable estimation, with aid instrumented by donor government fractionalization interacted with the...
Persistent link: https://www.econbiz.de/10012870328
Donor aid organizations (DAOs) are multi-layered and multi-dimensional bureaucracies with many departments trying to find solutions to problems for countries, investing staff resources and effort into having an effect. A department may come into conflict with other departments because of...
Persistent link: https://www.econbiz.de/10013031606
This paper examines fungibility as a possible explanation for the missing link between foreign aid and economic growth. The composition of aid plays a crucial role in determining the composition of government spending and, consequently, the magnitude of fungibility and its impact on growth....
Persistent link: https://www.econbiz.de/10013317224
We examine the interaction between foreign aid and binding borrowing constraint for a recipient country. We also analyze how these two instruments affect economic growth via non-linear relationships. First of all, we develop a two-country, two-period trade-theoretic model to develop testable...
Persistent link: https://www.econbiz.de/10013119295
The effect of demographic change on the labor force and on fiscal revenues is topical in light of potential pension shortfalls. This paper evaluates the effect of demographic changes between 2010 and 2030 on labor force participation and government budgets in the EU-27. Our analysis involves the...
Persistent link: https://www.econbiz.de/10013001855
US to the worst recession the world has witnessed for over six decades. Through an in-depth review of the crisis in terms … suggested, while at the same time the majority of the world's poor had benefited insufficiently from stronger economic growth …
Persistent link: https://www.econbiz.de/10013141781