Previous crisis episodes highlighted the role of mismatches in propagating crisis dynamics in emerging economies. The relative speed of financial opening as compared with the enhancement of absorptive capacity is a key determinant of the nature and severity of these mismatches. This study...

This paper focuses on how business interests and neoliberal ideas have come together in Germany during the past two decades. It is based on a detailed analysis of the INSM, a large-scale campaign founded and funded by the metal industry employers’ association Gesamtmetall in 2000 to shape...

Put in terms of the two fundamental theorems of welfare economics, social or welfare liberalism is being defined as the tenet criticizing classical liberalism for neglecting the second theorem, having nothing to say about the “liberalism” of macroeconomic policymaking. This note claims that...

This paper tried to evaluate the increasing of the federative public spending associated with the creation of a new State within the Brazilian Federation. The estimates pointed out that each new State increases the federative expenditure by R$ 832 millions. It was also estimated that Brazilian...

This paper attempts to evaluate public sector expenditure efficiency comparing Brazil with other Latin American countries for the period 1998-2002. We first computed a composite index, comprising economic and social indicators, to measure public sector performance. Efficiency of expenditure was...

While the Unemployment Insurance (UI) program is one of the largest safety net program in the U.S., research on its benefits is limited. This paper exploits plausibly exogenous changes in state UI laws to empirically estimate whether UI generosity mitigates any of the previously documented...

Applying IS-MP-IA model and the Taylor rule to selected Southeast European economies (Albania, Bosnia and Herzegovina, Macedonia and Serbia) we find that the change of effective exchange rate positively affects output, while the change of the world interest rate negatively affects output or it...