Search Results
Assessing the Impact and Phasing of Multi-year Fiscal Adjustment : A General Framework
Author/Editor: Ran Bi, Haonan Qu, James Roaf. Release Date: August, 2013 Price: $18.00This paper provides a general framework to assess the output and debt dynamics of an economy undertaking multi-year fiscal adjustment. The framework allows country-specific assumptions about the more... |
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Dismal Employment Growth in EU Countries: The Role of Corporate Balance Sheet Repair and Dual Labor Markets
Author/Editor: Bas B Bakker, Li Zeng. Release Date: August, 2013 Price: $18.00This paper argues that the large differences among EU countries in post-crisis employment performance are to a large extent driven by the need to adjust corporate balance sheets, which had greatly more... |
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Credibility and Crisis Stress Testing
Author/Editor: Li L Ong, Ceyla Pazarbasioglu. Release Date: August, 2013 Price: $18.00Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by the U.S. authorities in 2009 in the form of the Supervisory Capital Assessment more... |
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Pressure or Prudence? Tales of Market Pressure and Fiscal Adjustment
Author/Editor: Salvatore Dell'Erba, Todd D Mattina, Agustin Roitman. Release Date: July, 2013 Price: $18.00We study whether multiyear fiscal adjustment plans in 17 OECD countries during 1980-2011 have been associated with market pressure. We find that only a third (34 percent) of the consolidations more... |
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Inflation Dynamics and Monetary Policy Transmission in Vietnam and Emerging Asia
Author/Editor: Rina Bhattacharya. Release Date: July, 2013 Price: $18.00This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and uses empirical analysis to answer two key questions: (i) what are the key drivers more... |
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Country Transparency and the Global Transmission of Financial Shocks
Author/Editor: Luis Brandao Marques, R G Gelos, Natalia Melgar. Release Date: July, 2013 Price: $20.00This paper considers the role of country-level opacity (the lack of availability of information) in amplifying shocks emanating from financial centers. We provide a simple model where, in the more... |
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Monetary Policy and Balance Sheets
Author/Editor: Deniz Igan, Alain N Kabundi, Francisco Nadal-De Simone, Natalia T Tamirisa. Release Date: July, 2013 Price: $18.00This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Augmented Vector Autoregression model on more... |
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Does Fiscal Policy Affect Interest Rates? Evidence From A Factor-Augmented Panel
Author/Editor: Salvatore Dell'Erba, Sergio Sola. Release Date: July, 2013 Price: $18.00This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a more... |
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The Elusive Quest for Inclusive Growth: Growth, Poverty, and Inequality in Asia
Author/Editor: Ravi Balakrishnan, Chad Steinberg, Murtaza H Syed. Release Date: June, 2013 Price: $18.00This paper assesses how pro-poor and inclusive Asia’s recent growth has been, and what factors have been driving these outcomes. It finds that while poverty has fallen across the region over the more... |
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Fiscal Policy over the Election Cycle in Low-Income Countries
Author/Editor: Christian Ebeke, Dilan Ölçer. Release Date: June, 2013 Price: $18.00Focusing on Low-Income Countries, we investigate the behavior of fiscal variables during and after elections. The results indicate that during election years, government consumption significantly more... |
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The Distributional Effects of Fiscal Consolidation
Author/Editor: Laurence M Ball, Davide Furceri, Daniel Leigh, Prakash Loungani. Release Date: June, 2013 Price: $18.00This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal more... |
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The Growth and Stabilization Properties of Fiscal Policy in Malaysia
Author/Editor: Sohrab Rafiq. Release Date: June, 2013 Price: $18.00This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government spending shock leads to broad positive economic effects. Although, the more... |
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Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries : The Case of Cameroon
Author/Editor: Issouf Samaké, Priscilla S Muthoora, Bruno Versailles. Release Date: June, 2013 Price: $18.00This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to more... |
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Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States
Author/Editor: Giovanni Dell'Ariccia, Luc Laeven, Gustavo Suarez. Release Date: June, 2013 Price: $18.00We present evidence of a risk-taking channel of monetary policy for the U.S. bankingsystem. We use confidential data on the internal ratings of U.S. banks on loans tobusinesses over the period 1997 more... |
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Fiscal Policy and Lending Relationships
Author/Editor: Giovanni Melina, Stefania Villa. Release Date: June, 2013 Price: $18.00This paper studies how fiscal policy affects loan market conditions in the US. First, itconducts a Structural Vector-Autoregression analysis showing that the bank spread respondsnegatively to an more... |
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The Economic Effects of Fiscal Consolidation with Debt Feedback
Author/Editor: Marcello M Estevão, Issouf Samaké. Release Date: May, 2013 Price: $18.00The past several years of recession and slow recovery have raised much interest on the effect of fiscal stimulus on economic activity, even as high public debts in many countries would call for more... |
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Afghanistan: Balancing Social and Security Spending in the Context of Shrinking Resource Envelope
Author/Editor: Aqib Aslam, Enrico Berkes, Martin Fukac, Jeta Menkulasi, Axel Schimmelpfennig. Release Date: May, 2013 Price: $18.00For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps the government budget tight. This paper uses a general equilibrium model to more... |
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Options and Strategies for Fiscal Consolidation in India
Author/Editor: Sampawende J -A Tapsoba. Release Date: May, 2013 Price: $18.00The paper uses a multi-region DSGE model to quantify the macroeconomic implications ofthree adjustment scenarios for India: growth-friendly, social-friendly, and a benchmark casecentered on bringing more... |
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Fiscal Multipliers in the ECCU
Author/Editor: Jesus Gonzalez-Garcia, Antonio Lemus, Mico Mrkaic. Release Date: May, 2013 Price: $18.00The multipliers of taxes, and government consumption and investment expenditure for the Eastern Caribbean Currency Union (ECCU) are estimated using vector autoregression models with panel data. The more... |
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The Great Recession and the Inflation Puzzle
Author/Editor: Troy Matheson, Emil Stavrev. Release Date: May, 2013 Price: $18.00Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been remarkably stable. We find that a traditional Phillips curve describes the more... |
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