Aspirations have become a common theme in empirical economics studies, but there is no unified understanding of the range of outcomes they influence, the factors that shape them, and how to measure them. This paper surveys this growing literature. The paper argues that there is compelling...

In 2011 the Government of El Salvador implemented a reform to the liquefied gas (LPG) subsidy that increased the welfare of households in all but the top two deciles of the income distribution. However, the reform turned out to be rather unpopular, including among winners. This paper relies on...

Why in many economies households and firms borrow and make deposits in foreign currency? Expanding on the existing literature, our framework addresses this question allowing for interest rate differentials and access to foreign funds to play a role in explaining this process of asset...

This paper reviews current discussions on reforming the European Union (EU) budgetary procedure and assesses the main reform proposals that have been suggested thus far. It argues that prospects for reforms are presently hampered by the complex interplay between supranational and...

This paper reviews the strategies announced by the ten countries joining the European Union in May 2004 with regard to their intentions for participation in ERM II and the adoption of the euro. The paper examines the economic rationale of the monetary integration strategies declared by most...

Although there is wide recognition of the negative consequences of policy volatility for countries' long-term economic growth, there is limited empirical work on this subject. One of the reasons is the difficulty of measuring policy volatility over long periods of time, especially in developing...

This study uses text mining techniques on almost 900 presidential "state-of-the-union"-type speeches from 10 Latin American countries from 1819 to 2016. The paper documents a sharp increase in recent decades in references to poverty and inequality. The study's long-term view shows that the way...