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Commodity-exporting developing economies are often characterized as having needlessly procyclical fiscal policy: spending when commodity prices are high and cutting back when prices fall. The standard policy advice is instead to save during price windfalls and maintain spending during price...
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In the event of large swings in world food prices, countries often intervene to dampen the impact of international food price spikes on domestic prices and to lessen the burden of adjustment on vulnerable population groups. While individual countries can succeed at insulating their domestic...
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US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and...
Persistent link: https://www.econbiz.de/10012241154
This paper studies the effects of global and domestic inflation shocks on core price inflation in 105 countries between … empirical results indicate that most of the variation in inflation among low-income countries over the past decades is accounted … for by external shocks. More than half of the variation in core inflation rates among low-income countries is due to …
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