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The Collection Efficiency of the Value Added Tax : Theory and International Evidence

Aizenman, Joshua - 2005

This paper evaluates the political economy and structural factors explaining the collection efficiency of the Value … Added Tax [VAT]. We consider the case where the collection efficiency is determined by the probability of audit and by the … penalty on underpaying. Implementation lags imply that the present policy maker determines the efficiency of the tax system …

Persistent link: https://www.econbiz.de/10012467139

Sargent-Wallace Meets Krugman-Flood-Garber, or : Why Sovereign Debt Swaps Don't Avert Macroeconomic Crises

Aizenman, Joshua - 2002

-finance optimizing problem. We shows that under conditions similar to those which prevailed in Russia and Argentina prior to their …

Persistent link: https://www.econbiz.de/10012469520

Geopolitical Shocks And Commodity Market Dynamics : New Evidence From The Russian-Ukraine Conflict

Aizenman, Joshua; Lindahl, Robert; Stenvall, David; … - National Bureau of Economic Research - 2023

We investigate the event-based geopolitical shocks from the Russian invasion of Ukraine on selected agricultural and energy commodities using daily event-based structural vector autoregression (SVAR). We find that the geopolitical shock affects the markets of wheat (3%) and European natural gas...

Persistent link: https://www.econbiz.de/10014447271

Global Income Divergence, Trade and Industrializatiion : The Geography of Growth Take-Offs

Baldwin, Richard E. - 1998

This paper takes a step towards formalizing the theoretical interconnections among four post-Industrial Revolution phenomena - the industrialization and growth take-off of rich northern' nations, massive global income divergence, and rapid trade expansion. Specifically, we present a...

Persistent link: https://www.econbiz.de/10012472347

Capital Markets Integration, Volatility and Persistence

Aizenman, Joshua - 1995

This paper shows that volatility induces adverse first order welfare effects in countries excluded from the global capital market. This result is illustrated in a model characterized by gains from a greater division of activities, where shocks are persistent. We show that non-linearities...

Persistent link: https://www.econbiz.de/10012473636

Risks and global supply chains : What we know and what we need to know

Baldwin, Richard E.; Freeman, Rebecca - National Bureau of Economic Research - 2021

Recent supply disruptions catapulted the issue of risk in global supply chains (GSCs) to the top of policy agendas and created the impression that shortages would have been less severe if GSCs were either shorter and more domestic, or more diversified. But is this right? We start our answer by...

Persistent link: https://www.econbiz.de/10012660121

Exchange Market Pressure and Absorption by International Reserves : Emerging Markets and Fear of Reserve Loss During the 2008-09 Crisis

Aizenman, Joshua - 2010

This paper evaluates how the global financial crisis emanating from the U.S. was transmitted to emerging markets. Our focus is on the extent that the crisis caused external market pressures (EMP), and whether the absorption of the shock was mainly through exchange rate depreciation or the loss...

Persistent link: https://www.econbiz.de/10012462335

Large Hoarding of International Reserves and the Emerging Global Economic Architecture

Aizenman, Joshua - 2007

patterns; and possibly even export promotion, though this mercantilist use of reserves remains debatable due to possible … coordination issues. Countries following an export oriented growth strategy may end up with competitive hoarding, akin to …

Persistent link: https://www.econbiz.de/10012465374

International Coordination and Precautionary Policies

Aizenman, Joshua - 2015

This paper highlights the rare conditions leading to international cooperation, and the reasons why eliciting this cooperation may be beneficial in preventing adverse tail shocks from spiraling into global depressions. In normal times, deeper macro cooperation among countries is associated with...

Persistent link: https://www.econbiz.de/10012456878

Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990-2010

Aizenman, Joshua - 2011

We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...

Persistent link: https://www.econbiz.de/10012461155