The situation prior to the COVID, as brought out in Morris, Sebastian (2020), was problematic with major slowdown and heightened uncertainty in the financial sector in the last year before the Crisis. The response of the RBI, free from its conservative shackles, now followed the US into...

We study empirically and theoretically the dynamic effects of the unilateral reduction in import tariffs undertaken by Colombia from 1989-1993, with a particular emphasis on the transition and including any anticipation effects. We develop an asymmetric two-country, multi-sector heterogeneous...

Analysis of adjustment loans often overlooks their repetition to the same country. Repetition changes the nature of the selection problem. None of the top 20 recipients of repeated adjustment lending over 1980-99 were able to achieve reasonable growth and contain all policy distortions. About...

To mitigate the health and economic fallout from the COVID-19 pandemic, governments worldwide engaged in massive fiscal support programs. We show that generous fiscal support is associated with an increase in the demand for consumption goods during the pandemic, but industrial production did not...

The financial impact of the global crisis on Latin America has in some respects been less severe than in previous crises. This reflects in part the development of domestic bond markets and improved net balance sheet positions of the economies, which for a period have allowed gross capital inflow...

In Democracy in Alberta: The Theory and Practice of a Quasi-Party System, published in 1953, C.B. Macpherson explored the nature of democracy in a province that was dominated by a single class of producers. At the time, Macpherson was talking about Alberta farmers, but today the province can...