This paper analyzes the macroeconomic effects of fiscal and labor market policies in developing countries. The basic framework considers a small open economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency...

In the midst of the COVID-19 health crisis, many observers advocated the implementation of a global strategy to promote the production and equitable distribution of vaccines, prevent the emergence of infectious diseases, and reduce the risk of future pandemics. But what are the implications of...