|Now or Later? The Political Economy of Public Investment in Democracies|
Author/Editor: Sanjeev Gupta, Estelle X. Liu, Carlos Mulas-Granados.
Release Date:July, 2015
This paper explores the impact of political and institutional variables on public investment.Working with a sample of 80 presidential and parliamentary democracies between 1975 and2012, we find that more...
|Correcting "Beyond the Cycle" : Accounting for Asset Prices in Structural Fiscal Balances|
Author/Editor: Estelle X. Liu, Todd Mattina, Tigran Poghosyan.
Release Date:May, 2015
This paper outlines an operational approach for incorporating the impact of asset price cycles in the calculation of structural fiscal balances (SFBs). The global financial crisis demonstrated that more...
|Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis|
Author/Editor: Jorge A. Chan-Lau, Estelle X. Liu, Jochen M. Schmittmann.
Release Date:July, 2012
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened more...