The EU Carbon Border Adjustment Mechanism (CBAM) aims to level the playing field by applying the same carbon price faced by domestic producers under the Emission Trading System to the emissions embodied...
The transition to a low-carbon, climate-resilient economy is urgently needed to mitigate the profound impacts of climate change. However, this essential transition presents one of the greatest socioeconomic...
Despite significant progress in reducing poverty, the Philippines continues to face high inequality, which stayed elevated in the early 2000s as the economy grew. Although inequality has gradually declined...
The Middle East and North Africa (MENA) region stands among the most vulnerable areas to the impacts of climate change. At the same time, with lax environmental regulations, this region’s integration into...
Climate change is a global challenge requiring unprecedented levels of collective action. In this context, this paper asks: do appeals to historical responsibility facilitate or hinder collective action?...
The surge in food prices following the 2021 economic rebound has become a significant concern for households, particularly low-income ones, in Bulgaria, Croatia, Poland, and Romania. Food price inflation...
This paper examines the impact of two interventions by Colombia's competition authority to enforce competition in the sugar market on firm performance in downstream sectors. Using an exogenous identification...
This paper develops a sovereign default model with capital accumulation, long-term debt, and fiscal rules with two distortions: debt dilution and private underinvestment. Fiscal rules generate a long-run...
This paper examines the relationship between geopolitical fragmentation and friendshoring of foreign investments over time, countries, and sectors. The analysis uses comprehensive data on foreign direct...
This paper studies the effect of government issuance on firm issuance during banking crises using transaction-level bond and loan data from 66 countries between 1991 and 2017. Governments rarely issue...
This paper conducts a meta-analysis of 24 studies evaluating the impact of formal loans on small and medium-sized enterprise performance. Using a Bayesian hierarchical model, the paper estimates that formal...
This paper investigates the impact of an export promotion policy consisting of ad-valorem subsidies for a set of targeted products, on the performance of Pakistani exports in the textile sector. The findings...
Recent improvements in survey methodologies have increased measured consumption in many low- and lower-middle-income countries that now collect a more comprehensive measure of household consumption. Faced...
Legal institutions play an important role in shaping gender equality in economic domains, from inheritance to labor markets. But where do gender equal laws come from? Using cross-country data on social...
Developing countries face uncertainties driven by global macroeconomic variables over which they have little to no control. Key exogenous factors faced by most developing countries include interest rates...
This paper examines the redistributive impact of fiscal policy—specifically taxes and transfers—on poverty and inequality in eight countries in the Middle East and North Africa: the Arab Republic of Egypt...
Central banks often face tradeoffs in how their monetary policy decisions impact economic activity (including employment), inflation and the price level. This paper assesses how these tradeoffs have evolved...
This paper extends the classic Tinbergen rule within the context of financial regulation, explicitly accounting for the inverted U-shaped relationship between market competition and financial stability...
Abstract The circumstances into which individuals are born are beyond their control, yet they play a significant role in shaping people’s economic opportunities and are thus key drivers of inequality and...
This paper develops a bottom-up, sector-specific approach to modeling potential output that overcomes limitations of traditional top-down estimates for long-term projections and policy analysis. The model...