Haitian universities are mainly financed by the poor households' economy. Financial constraints prevent them from attracting the best professors and meeting the growingsocial demand for highereducation. How to break the deadlock? This article discusses several institutional and managerial...

Railroads are important for development and economic growth of a region. They are also heavily regulated and struggle to get timely public investment and clearances for consolidation and improving revenue generation when attempting to achieving economies of scale and scope. Where the state...

In this study, we investigate the association between financial constraints, at both the macroeconomic and firm-specific level, and one potentially significant source of internal funds available to firms – cash savings generated through tax planning. In equilibrium a firm will undertake tax...

This paper examines the policy rate recommendations of the Bank of Canada's Governing Council (GC) and the C.D. Howe Institute's Monetary Policy Council (MPC) since 2003. We find, first, that differences in the median recommendations between the MPC and the GC are persistent but small (i.e., 25...

In recent months, sovereign wealth funds have received much attention and criticism on the world stage. This paper analyzes these funds from a multidimensional perspective, showing their relative size, origins, history, strategies, and what regulatory oversight they have. Next, it examines why...

Governments around the world are attempting to support individuals' incomes, rescue distressed businesses, and preserve employer-employee relationships damaged in the coronavirus pandemic by adopting fiscal stimulus programs of unprecedented scale. Although the bulk of this spending will involve...

This paper studies the impact of financial sector size and leverage on business cycles and risk-free rates dynamics. We model a general equilibrium productive economy where financial intermediaries provide costly risk mitigation to households by pooling the idiosyncratic risks of their...

The paper examines the development of Italy's public finances after the consolidation period 1992-97, which secured participation in the European Monetary Union from the outset. The quot;structuralquot; developments in the main budgetary components are assessed, excluding the effects of the...

This paper examines the dynamic implications of a shift in relative prices between traded and non-traded goods. In accordance with empirical evidence we allow for sluggish wage adjustment and the presence of increasing returns to scale in the traded goods sector. The existence of increasing...