The authors examine empirically how domestic structural characteristics related to openness and product- and factor-market flexibility influence the impact that terms-of-trade shocks can have on aggregate output. For this purpose, they apply an econometric methodology based on semi-structural...

Risk and uncertainty are on the rise, and countries across Europe and Central Asia (ECA) are not immune from it. The region is being hit by crises, conflicts, and continued uncertainty that are negatively affecting people's livelihoods in the short term and prosperity in the long term. Then...

Risk and uncertainty are on the rise, and countries across Europe and Central Asia (ECA) are not immune from it. The region is being hit by crises, conflicts, and continued uncertainty that are negatively affecting people's livelihoods in the short term and prosperity in the long term. Then...

The literature on shock-responsive social protection focuses on operational features that improve the speed and reach of the response, but little is known about the optimal design of emergency social protection responses in terms of which programs to use, information about the people affected,...

The literature on shock-responsive social protection focuses on operational features that improve the speed and reach of the response, but little is known about the optimal design of emergency social protection responses in terms of which programs to use, information about the people affected,...