This paper analyzes fiscal policy cyclicality, with a specific focus on the Middle East and North Africa region, which is known for its significant output volatility. The paper provides new and more granular...
This paper studies how credit guarantee and employment protection programs interact in assisting firms during crises times. The paper analyzes how these government programs influence credit allocation...
This paper examines the implications of different types of interest rate shocks in the United States for emerging market and developing economies (EMDEs). It first classifies changes in U.S. interest rates...
Motivated by the deterioration in global food security conditions, this paper develops a parsimonious machine learning model to derive a multi-year outlook of global severe food insecurity from macro-economic...
The COVID-19 pandemic has triggered an unprecedented worldwide recession. Survey results show deepening impact on business performance and pessimistic investment outlooks, which will likely require some...
According to conventional wisdom, capital flows are fickle. Focusing on emerging markets, this paper asks whether this conventional wisdom still holds in the contemporary world. The results show that...
This brief provides highlights of the April 2013 Economic Update for Ukraine. Ukraine is in a recession because of weak external demand and delays in policy adjustment. Growth in 2013 is projected to remain...
This brief provides highlights of the April 2013 Economic Update for Ukraine. Ukraine is in a recession because of weak external demand and delays in policy adjustment. Growth in 2013 is projected to remain...
The authors develop an early warning system for macroeconomic vulnerability for several Latin American countries, drawing on the work of Kaminsky, Lizondo, and Reinhart (1997) and Kaminsky (1988). They...