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This policy brief prepared by ECLAC examines the economic and social impact of the war in Ukraine on the region, and offers countries recommendations on how to address its effects. The document analyzes economic and social variables as well as the different sectors of the regional economy that...
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World economic growth is moderating accompanied by a broad-based deterioration in economic sentiment. Following a temporary pick up in the second quarter, global activity slowed down significantly in the third quarter and sentiment indicators point towards a further deceleration towards the end...
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This paper compares the role of monetary and fiscal policy shocks in advanced and emerging economies. Using a model with a hierarchical structure we capture the variability of GDP response to policy shocks both between and within the groups of advanced and emerging countries. Our results provide...
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trade taxes, whilst richer nations employ comparatively more consumption and income taxes. Using the new Government Revenue … from the Common Correlated Effects Mean Group (CMG) estimator (Pesaran 2006) find that increases in income taxes … (specifically personal income taxes) offset by reductions in trade or consumption taxes have had a negative impact on GDP growth …
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