This paper empirically explores how fiscal policy - represented by changes in government spending- exerts asymmetric effects on economic growth in the context of a developing country, Egypt in particular. By allowing for the theoretical plausibility of asymmetric effects of fiscal policy on...

Until a vaccine is widely available, face masks and other nonpharmaceutical interventions (NPIs) will continue to be the frontline defense against Covid-19 in developing countries. But their effectiveness depends critically on compliance by young adults, who are most likely both to become...

On March 11, 2011, the strongest ever recorded in Japan earthquake occurred which triggered a powerful tsunami and caused a nuclear accident in Fukushima nuclear plant. The latter was a “manmade” disaster having immense impacts on people’s life, health, and property, infrastructure, supply...

How does high dependence on natural resources affect income inequality? Surprisingly little is known about the impact of high dependence on primary goods on income distribution. Building on insights from the resource curse literature, this paper studies the relationship between income shocks...

English Abstract: The article covers the spread of the corona virus (COVID-19) and developments above all in Estonia but also in other countries (the European Union and other countries of the world). The objective of the article is to provide an overview of the spread of COVID-19 in Estonia and...

This paper studies how wealth and health inequalities have interacted with the Covid-19 epidemic in a way that has reinforced inequalities in income, savings, epidemic risk and even individual preventive behaviors. We present in more detail two papers and their theoretical and empirical results....

Do cash transfers discourage work and incentivize leisure? Or do cash transfers help beneficiaries to get out of the poverty trap, acquire more capital and raise their income in the future? We run a difference-in-difference for a panel data from 2018 and 2019 for Ecuador's cash transfer program,...

The literature on aid and growth has not found a convincing instrumental variable to identify the causal effects of aid. In this paper we exploit an instrumental variable based on the fact that since 1987, a major criterion for IDA (International Development Association) eligibility has been...

We study how financial development affects economic development and wage inequality. We use a large expansion of government-owned banks into Brazilian cities with low bank branch coverage and combine it with data on the universe of employees from 2000-2014. We find that higher financial...

This paper illustrates that evaluating alternate abatement polices that affect the growth path of an economy on the basis of their effects on asset valuation may not be welfare enhancing. We show that the class of abatement polices considered in the integrated assessment literature are robust...