Macroeconomic textbooks warn that procyclical public spending can amplify economic volatility and cause fiscal stress. However, the latter risks materialize only when governments fail to reduce spending ...
Chapter 1 of the report discusses differences in the evolution of the size and composition of public spending between high-income and low- and middle-income nations. These differences are cause and ...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...