Health care presents a daunting fiscal challenge in both advanced and emerging economies. This paper examines public spending pressures in health care over the next several decades and provides recommendations for reform. Using a methodology that improves upon earlier studies, the paper finds...

The paper examines the macroeconomic effects of public investment in emerging market and developing economies. To this end, the analysis develops a new measure of public investment shocks based on cyclically adjusted government investment. Estimations using local projections based on a large...