Fiscal decentralization has been, and remains high on the policy agenda of many countries. It is mainly driven by … disparities in incomes or resource endowments. More generally, decentralization pressures frequently reflect a desire for more … motivation, fiscal decentralization can have important macroeconomic implications. Therefore, Fund advice to member countries …

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP … levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and …

Demand and Growth Regimes (DGR) and Macroeconomic Policy Regimes (MPR) frameworks have taken prominence within the post … terms of aggregate demand and growth. In particular, it is possible to observe the MPR and DGR transition between 2002 and …