Our objective in this paper is to assess how middle-income groups are faring with the global turn to the market. We suggest some simple measures of the middle-the size and income shares of households around the median (75/125%)-and their income status relative to wealthier counterparts. Our...

The effects of market and policy reforms on poverty and inequality in Latin America have been of considerable concern. The region continues to have relatively great income inequalities. Two different societies with the same income distribution may have different levels of social welfare because...

This paper discusses the ways in which macroeconomic developments can put stress on banks, and in extreme cases lead to banking crises. There are many ways in which this can occur, and no specific mechanism is endorsed. These macroeconomic causes of bank vulnerability and crisis have important...