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Dissecting Saving Dynamics : Measuring Wealth, Precautionary, and Credit Effects

Author/Editor: Christopher Carroll, Martin Sommer, Jiri Slacalek.

Release Date: September, 2012

Price: $18.00

We argue that the U.S. personal saving rate’s long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) more...



Brazil's Capital Market : Current Status and Issues for Further Development

Author/Editor: Joonkyu Park.

Release Date: September, 2012

Price: $18.00

Capital market development in Brazil is a key policy issue going forward to foster savings, investment and absorptive capacity in a context of prospects for sizable capital flows in the medium term. more...



Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Author/Editor: Olivier Coibion, Yuriy Gorodnichenko, Lorenz Kueng, John Silvia.

Release Date: August, 2012

Price: $18.00

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically more...



The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications

Author/Editor: Olivier Coibion, Yuriy Gorodnichenko, Gee Hee Hong.

Release Date: August, 2012

Price: $18.00

We study the cyclical properties of sales, regular price changes and average prices paid by consumers (effective prices) in a dataset containing prices and quantities sold for numerous retailers more...



Great Recession and Fiscal Squeeze at U.S. Subnational Government Level

Author/Editor: Jiri Jonas.

Release Date: July, 2012

Price: $18.00

The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states more...



Successful Austerity in the United States, Europe and Japan

Author/Editor: Nicoletta Batini, Giovanni Callegari, Giovanni Melina.

Release Date: July, 2012

Price: $18.00

The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract more...



Intra-Regional Spillovers in South America: Is Brazil Systemic after All?

Author/Editor: Gustavo Adler, Sebastian Sosa.

Release Date: June, 2012

Price: $18.00

Shocks stemming from Brazil - the large neighbor in South America - have historically been a source of concern for policy-makers in other countries of the region. This paper studies the importance of more...



Peru: Monetary and Exchange Rate Policies, 1930 - 1980

Author/Editor: Gonzalo C. Pastor.

Release Date: June, 2012

Price: $18.00

This paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to the world economy, including the post-1929 crash and WWII, and changing economic more...



Do Dynamic Provisions Enhance Bank Solvency and Reduce Credit Procyclicality? A Study of the Chilean Banking System

Author/Editor: Jorge A. Chan-Lau.

Release Date: May, 2012

Price: $18.00

Dynamic provisions could help to enhance the solvency of individual banks and reduce procyclicality. Accomplishing these objectives depends on country-specific features of the banking system, more...



Asymmetric Effects of the Financial Crisis: Collateral-Based Investment-Cash Flow Sensitivity Analysis

Author/Editor: Vadim Khramov.

Release Date: April, 2012

Price: $18.00

This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment-cash flow sensitivity, the value of a firm's assets that can be used as collateral more...



BRICs’ Philosophies for Development Financing and Their Implications for LICs

Author/Editor: Nkunde Mwase, Yongzheng Yang.

Release Date: March, 2012

Price: $18.00

Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding more...



Market Discipline and Conflicts of Interest Between Banks and Pension Funds

Author/Editor: Adolfo Barajas, Mario Catalan.

Release Date: December, 2011

Price: $18.00

We study the behavior of private pension funds as large depositors in a banking system. Using panel data analysis, we examine whether, and if so how, pension funds influence market discipline in more...



Employment Protection and Business Cycles in Emerging Economies

Author/Editor: Ruy Lama, Carlos Urrutia.

Release Date: December, 2011

Price: $18.00

We build a small open economy, real business cycle model with labor market frictions to evaluate the role of employment protection in shaping business cycles in emerging economies. The model features more...



Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries

Author/Editor: Nkunde Mwase.

Release Date: November, 2011

Price: $18.00

BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of more...



The Role of Structural Reforms in Raising Economic Growth in Central America

Author/Editor: Andrew Swiston, Luis Barrot.

Release Date: October, 2011

Price: $18.00

Central America experienced moderate growth during the last decade, including in the years leading up to the global financial crisis, but the rate of convergence toward advanced country income levels more...



The Us Federal Debt Outlook: Reading the Tea Leaves (Pdf Download)

Release Date: March, 2010

Price: $0.00

Crisis Management and Resolution for a European Banking System (Pdf Download)

Release Date: March, 2010

Price: $0.00

Investment by Large Firms in Argentina

Author/Editor: Alvaro Piris.

Release Date: January, 2010

Price: $18.00

Strong growth in investment made a key contribution to the economic recovery in Argentina earlier this decade. The paper uses firm-level data to assess changes in financing constraints and the more...



Paraguay : First Review Under the Stand-By Arrangement: Staff Report; Staff Supplement; and Press Release on the Executive Board Consideration

Release Date: June, 2008

Price: $18.00

Improvements in macroeconomic conditions are encouraging, and the current macroeconomic framework for 2006 and 2007 remains valid in Paraguay. The strong fiscal performance has applied also to the more...



Mexico : Selected Issues

Release Date: December, 2007

Price: $18.00

This Selected Issues paper analyzes external shocks and business cycle fluctuations in Mexico. The paper examines the relative importance of U.S. demand shocks—and other foreign more...



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