I find that nominal equity returns respond to unexpected inflation more negatively during contractions than expansions. In particular, returns on firms with lower book-to-market ratio, or of medium size, demonstrate strong asymmetric correlations with unexpected inflation across the business...

The paper examines the determinants of employment growth, drawing on data available across a sample of Caribbean countries. To that end, the paper analyzes estimates of the employment-output elasticity and the response of employment growth to major sources of labor market determinants, in the...

Over the past decades, inequality has risen not just in advanced economies but also in many emerging market and developing economies, becoming one of the key global policy challenges. And throughout the 20th century, Latin America was associated with some of the world's highest levels of...