This paper uses satellite readings of nitrogen (NO2) air pollution, a byproduct of combustion, to improve the measurement of global economic activity. The proposed approach improves upon night light measures...
The Latin America and the Caribbean (LAC) region has proved to be relatively resilient in the face of increased debt stress, stubborn inflation, and uncertainty arising from the Russian invasion of Ukraine...
As the Coronavirus (COVID-19) crisis recedes, Latin America and the Caribbean (LAC) is back to work and looking forward. Is the region back to normal? As chapter 1 discusses, reported deaths related to...
This paper studies the time series behavior of a set of widely-used social indicators and uncovers two important stylized facts. First, not all social indicators are created equal in terms of the importance...
The Latin America and the Caribbean region is consolidating its recovery from the COVID‐19 crisis, but the road ahead poses challenges: The damage inflicted by the pandemic on education and poverty require...
The Latin America and the Caribbean region is consolidating its recovery from the COVID-19 crisis, but the road ahead poses challenges: The damage inflicted by the pandemic on education and poverty require...
The Latin America and the Caribbean region is consolidating its recovery from the COVID-19 crisis, but the road ahead poses challenges: The damage inflicted by the pandemic on education and poverty require...
This paper estimates the macroeconomic effects of social transfer payments to individuals for a sample of 23 developed and Latin American countries. The findings show that the social transfer multiplier...
After mediocre growth in 2018 of 0.7 percent. Latin America and the Caribbean (LAC) is expected to perform only marginally better in 2019 (growth of 0.9 percent) followed by a much more solid growth of...
After mediocre growth in 2018 of 0.7 percent. Latin America and the Caribbean (LAC) is expected to perform only marginally better in 2019 (growth of 0.9 percent) followed by a much more solid growth of...
After mediocre growth in 2018 of 0.7 percent. Latin America and the Caribbean (LAC) is expected to perform only marginally better in 2019 (growth of 0.9 percent) followed by a much more solid growth of...
An earlier paper titled "Non-linear effects of tax changes on output: The role of the initial level of taxation," estimated tax multipliers using (i) a novel dataset on value-added taxes for 51 countries...
This paper estimates the effect of worldwide tax changes on output following the narrative approach developed for the United States by Romer and Romer (2010). The analysis uses a novel dataset on value-added...
After a growth recovery, with an expansion of 1.1 percent in 2017, the region has encountered some bumps in the road. The Latin America and the Caribbean (LAC) region is expected to grow at a modest rate...
After a growth slowdown that lasted six years, the Latin America and the Caribbean (LAC) region has finally turned the corner and resumed growth at a modest rate of 1.1 percent in 2017 and 1.8 percent...
After a growth slowdown that lasted six years, including a contraction of one percent of real Gross domestic product (GDP) in 2016, the Latin America and the Caribbean (LAC) region has finally turned the...
After a growth slowdown that lasted six years, including a contraction of one percent of real Gross domestic product (GDP) in 2016, the Latin America and the Caribbean (LAC) region has finally turned the...
Using non-linear methods, this paper finds that existing estimates of government spending multipliers in expansion and recession may yield biased results by ignoring whether government spending is increasing...