Developing countries are deindustrializing at earlier stages of development than experienced by advanced economies. Is this trend symptomatic of inefficiency If so, what are the welfare costs This paper proposes a definition of premature deindustrialization based on whether the pace of...

Developing countries are deindustrializing at earlier stages of development than experienced by advanced economies. Is this trend symptomatic of inefficiency If so, what are the welfare costs This paper proposes a definition of premature deindustrialization based on whether the pace of...

Puerto Rico's unique characteristics as a U.S. territory allow us to examine the channels through which (sub)sovereign default risk can have real effects on the macroeconomy. Post-2012, during the period of increased default probabilities, the cointegrating relationship between real activity in...

Puerto Rico's unique characteristics as a U.S. territory allow us to examine the channels through which (sub)sovereign default risk can have real effects on the macroeconomy. Post-2012, during the period of increased default probabilities, the cointegrating relationship between real activity in...

Puerto Rico's unique characteristics as a U.S. territory allow us to examine the channels through which (sub)sovereign default risk can have real effects on the macroeconomy. Post-2012, during the period of increased default probabilities, the cointegrating relationship between real activity in...