This paper estimates the impact on the US economy of four types of uncertainty about (i) government spending, (ii) tax changes, (iii) public debt sustainability and (iv) monetary policy. Following a one standard deviation shock, uncertainty about debt sustainability has the largest and most...

This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of international crises: 1994, 1997-1999, 2001 and 2008. In contrast with earlier episodes when most...

The Thai economy shows signs of a nascent recovery but faces challenges on the path toward a broad-based and sustained recovery. The Thai economy accelerated to 2.8 percent in 2015, compared to 0.9 percent in 2014, partly on the basis of government consumption and investment, and partly on...

Following the partial lifting of nuclear-related sanctions in November 2013 under the interim Joint Plan of Action (JPOA), Iran's economy rebounded in 20141 and is estimated to have expanded by 0.5 percent in 2015. A less accommodative monetary policy stance reduced inflationary pressures, with...

The Lao economy is estimated to have expanded by around 7 percent in 2015, a slight moderation from 7.5 percent in 2014. Similar to the last decade, the resource sectors (hydropower and extractives) continued to make an important contribution to growth. Power generation got a boost from the...

This report consists of two parts: Part 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses in greater depth on a special, selected topic relevant to Malawi's development prospects. This report focuses on agricultural risk management. Malawi is now set...

Iraq is facing daunting challenges of Islamic State of Iraq and Syria (ISIS) insurgency, political upheaval, and profound economic and humanitarian crises. Compounding the ISIS-related crisis, the sharp decline in global oil prices has resulted in significant decline in oil export revenues....