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Globalization and taste convergence: The cases of wine and beer

Aizenman, Joshua; Brooks, Eileen - 2005

data on 38 countries from 1963-2000, there is clear convergence in the consumption of wine relative to beer between 1963 … and 2000. Convergence occurs even more quickly within groups of countries that have a higher degree of integration. A key … converging, several Latin American countries fail to converge. The patterns of convergence are consistent with dynamics of …

Persistent link: https://www.econbiz.de/10010322694

Takeoffs

Aizenman, Joshua; Spiegel, Mark - 2007

This paper identifies factors associated with takeoff - a sustained period of high growth following a period of stagnation. We examine a panel of 241 stagnation episodes" from 146 countries, 54 % of these episodes are followed by takeoffs. Countries that experience takeoffs average 2.3% annual...

Persistent link: https://www.econbiz.de/10010285304

On the ease of overstating the fiscal stimulus in the US, 2008-9

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

This note shows that the aggregate fiscal expenditure stimulus in the United States, properly adjusted for the declining fiscal expenditure of the fifty states, was close to zero in 2009. While the Federal government stimulus prevented a net decline in aggregate fiscal expenditure, it did not...

Persistent link: https://www.econbiz.de/10010287757

Fiscal fragility: what the past may say about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the increase in stock of public debt/GDP induced by the global recession, to include the perspective that the sustainability of a given public debt/GDP depends on...

Persistent link: https://www.econbiz.de/10010287758

De facto fiscal space and fiscal stimulus: Definition and assessment

Aizenman, Joshua; Jinjarak, Yothin - 2010

We define the notion of 'de facto fiscal space' of a country as the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the...

Persistent link: https://www.econbiz.de/10010287767

De facto fiscal space and fiscal stimulus: Definition and assessment

Aizenman, Joshua; Jinjarak, Yothin - 2010

We define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to...

Persistent link: https://www.econbiz.de/10010288141

On the ease of overstating the fiscal stimulus in the US, 2008-9

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

Persistent link: https://www.econbiz.de/10010288146

The fiscal stimulus of 2009-10: Trade openness, fiscal space and exchange rate adjustment

Aizenman, Joshua; Jinjarak, Yothin - 2011

This paper studies the cross-country variation of the fiscal stimulus and the exchange rate adjustment propagated by the global crisis of 2008-9, identifying the role of economic structure in accounting for the heterogeneity of response. We find that greater de facto fiscal space prior to the...

Persistent link: https://www.econbiz.de/10010288159

Fiscal fragility: What the past says about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...

Persistent link: https://www.econbiz.de/10010288164