In 2015, Germany welcomed close to one million asylum seekers and refugees from Syria, Afghanistan, the Western Balkans and elsewhere. Although the country was often praised for its welcome culture, the inflow has spurred a debate about identity, social cohesion and the limits of...

After the 1919-1922 Greco-Turkish conflict, 1.2 million Greek Orthodox were forcibly displaced from Turkey to Greece, increasing the host population by 20 percent within a few months. Refugees were pro-vided with farmland, new houses and schools, and were granted the Greek citizenship. This...

This study examines whether political empowerment of women affects their economic participation. In the context of mandated political representation reform for women in India, the study finds that the length of exposure to women politicians affects overall female labor force participation. These...

The global financial crisis and its aftermath have triggered extraordinary policy responses in advanced countries. The impacts of these policy responses—from asset price bubbles to currency depreciations—have often been felt in the developing world. As tapering talk evolves into actual...

This paper examines the micro and macro correlates of aid project outcomes in a sample of 3,821 World Bank projects and 1,342 Asian Development Bank projects. Project outcomes vary much more within countries than between countries: country-level characteristics explain only 10–25 percent of...

In the aftermath of the global financial crisis, interest in systemic risk has surged among academics and policy makers. The mitigation of systemic risk is now widely accepted as the fundamental underlying concept for the design of the post-crisis regulatory agenda. Effective mitigation requires...

This study uses a computable general equilibrium model to analyze various policy scenarios for a carbon tax on greenhouse gas emissions from petroleum fuels and kerosene in Ethiopia. The carbon tax starts at $5 per ton of carbon dioxide in 2018 and rises to $30 per ton in 2030. Different...

Using a new, large data set on quarterly reserve requirements for the period 1970-2011, this paper provides new evidence on the use of reserve requirements as a countercyclical macroprudential tool in developing countries. The appeal of reserve requirements lies in the pro-cyclical behavior of...

This paper investigates corruption and tax evasion and their firm-level determinants across 25,000 firms in 57 countries, a large fraction of which are small and medium enterprises in developing countries. Firms that pay more bribes also evade more taxes. Corruption acts as a tax on innovation,...

This paper provides evidence from eight developing countries of an inverse relationship between poverty and city size. Poverty is both more widespread and deeper in very small and small towns than in large or very large cities. This basic pattern is generally robust to choice of poverty line....