The Selected Issues paper for Uganda and Rwanda discusses the impact of rising international food and fuel prices on inflation. Unlike in the case of fuel-producing countries, the East African Community countries are major agricultural producers, with agriculture accounting for 20 percent to 40...

Interactions between the banking sector and an open capital account are investigated as rationalizations for the empirical regularities that characterize disinflation programs anchored by fixing the exchange rate. Financial intermediation and bank money creation are formalized within a dynamic...

The observed increase in the level and volatility of Tanzania''s Treasury yields in recent years against an otherwise benign macroeconomic backdrop presented a puzzle for policymakers, while raising concerns about the fiscal burden of rising debt interest payments and diversion of bank credit...

Interactions between banks and open capital account are investigated as rationalizations for empirical regularities characterizing disinflation programs anchored by the exchange rate. The financial system is characterized by bank dominance and lending externality – banks do not internalize the...

This dissertation studies fiscal policy, specifically the efficiency and electoral constraints on tax policy, and the measurement of public sector health to increase the effectiveness of government spending. Chapter 1 studies high-income taxpayer responses through the tax base channel to changes...