Can developing economies achieve growth that benefits everyone and protects the planet? This report explores how low- and middle-income countries (LMICs) can achieve inclusive and sustainable economic transformation (ISET) - where economic growth benefits all of society and protects our planet....

Europe trails the global frontier of productivity growth and the region's trend is sluggish. Much prospective economic growth for Europe is likely to come from AI and its adoption by European firms which is projected to shoot up the productivity trend. For such AI-generated growth to work, high...

This paper analyzes the distribution of real household incomes and consumption growth in Azerbaijan between 2004 and 2009. Decile-specific price deflators were used to calculate real incomes and consumption dynamics. The analysis, which was based on growth incidence curves, showed that economic...

Endogenous growth theory assigns an important role for entrepreneurship in the process of economic development. This paper sets to formally test the impact of entrepreneurship on economic growth. Entrepreneurship is represented by a number of proxy variables, whereas Total Factor Productivity is...

Gasspeicher sind ein zentraler Baustein für eine sichere Energieversorgung und damit für eine funktionierende Wirtschaft und Gesellschaft. Derzeit bietet der Markt jedoch kaum Anreize, die Gasspeicher zu nutzen oder in deren Erhalt zu investieren. Im Gegenteil: Seit November letzten Jahres...

The study investigates the effect of changes in the exchange rate on output growth and inflation in the WAMZ economies. It formulates an open-economy general equilibrium model which highlights the interrelationships among real GDP growth, inflation, exchange rate depreciation/ appreciation and...

This paper outlines the recently developed method for assessing the trend level in employment rates adopted by Norges Bank. The approach employs a Bayesian VAR to decompose disaggregated employment data into trend and cyclical components, using quarterly labor market data on 30 demographic...

Banks' profitability is their first line of defence against losses, and net interest income is banks' main source of revenue. Since the policy rate hikes began in 2021, net interest income has increased substantially relative to assets, strengthening banks' loss-absorbing capacity. We use a VAR...

This paper studies the effects of discretionary fiscal policy shocks under different exchange rate regimes within a structural vector autoregressive (SVAR) model. We first suggest that by estimating the effects of fiscal policy shocks in two structurally similar small open economies that have...