In the past four to five decades, inflation has fallen around the world, with median annual global consumer price inflation down from a peak of 16.6 percent in 1974 to 2.6 percent in 2017. This decline began in advanced economies in the mid-1980s and in emerging market and developing economies...

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...

Using an event study methodology, this paper examines how European firms have been affected by the announcement of the European Central Bank's Pandemic Emergency Purchase Program (PEPP). Firms with an investment grade rating benefit relatively more, as evidenced by higher share prices and lower...

Two decades after the inception of Mexico's conditional cash transfer program, PROSPERA, this study analyzes the intergenerational occupational mobility and occupational attainment of a group of rural beneficiary youths between ages 18 and 35 years, segmented into subgroups by sex, ethnic...

Many studies have demonstrated that Mexico's conditional cash transfer program, PROSPERA, has substantial effects on educational attainment. Nevertheless, little evidence exists on whether increases in time spent in school have led to higher learning in the context of the poor areas where...

The long-term effects of Mexico's conditional cash transfer program, PROSPERA, on poor households are of great interest to policy makers and academics alike. This paper analyzes the long-term effects on the welfare of the original participant households and their offspring, about 20 years after...

Interventions in highly insecure and fragile contexts are always confronted with the latent risk of not being able to implement the program as intended. Despite its high policy relevance, little is known about the impacts of program disruption or cancellation on beneficiaries. This study uses...

As preferential trade agreements are growing in number and depth, assessment of their economic impacts has become more important to inform policy-makers facing a multitude of potential preferential trade agreements. This paper provides novel ex ante estimates of the impacts of two key...