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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...



Barriers to Household Risk Management: Evidence from India

Author/Editor: Shawn Cole, Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend, James Ian Vickery.

Release Date: July, 2012

Price: $18.00

Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and more...



Kuwait: Selected Issues and Statistical Appendix

Release Date: June, 2012

Price: $18.00

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...



Fiscal Transparency, Fiscal Performance and Credit Ratings

Author/Editor: Elif Arbatli, Julio Escolano.

Release Date: June, 2012

Price: $18.00

This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by credit ratings. It measures this effect through a direct channel (uncertainty more...



Government Bonds and Their Investors: What Are the Facts and Do They Matter?

Author/Editor: Jochen R. Andritzky.

Release Date: June, 2012

Price: $18.00

This paper introduces a new dataset on the composition of the investor base for government securities in the G20 advanced economies and the euro area. During the last decades, investors from abroad more...



Factor Endowment, Structural Coherence, and Economic Growth

Author/Editor: Natasha Xingyuan Che.

Release Date: June, 2012

Price: $18.00

This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor 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...



The Future of Oil: Geology versus Technology

Author/Editor: Jaromir Benes, Marcelle Chauvet, Ondra Kamenik, Michael Kumhof, Douglas Laxton, Susanna Mursula, Jack Selody.

Release Date: May, 2012

Price: $18.00

We discuss and reconcile two diametrically opposed views concerning the future of world oil production and prices. The geological view expects that physical constraints will dominate the future more...



Natural Resources, Volatility, and Inclusive Growth: Perspectives from the Middle East and North Africa

Author/Editor: Rabah Arezki, Mustapha K. Nabli.

Release Date: May, 2012

Price: $18.00

This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels more...



China's Impact on World Commodity Markets

Author/Editor: Shaun K. Roache.

Release Date: May, 2012

Price: $18.00

Shocks to aggregate activity in China have a significant and persistent short-run impact on the price of oil and some base metals. In contrast, shocks to apparent commodity-specific consumption (in more...



Country Stress Events: Does Governance Matter?

Author/Editor: Carlos Caceres, Anna Kochanova.

Release Date: May, 2012

Price: $18.00

This paper analyzes the linkages between governance quality and country stress events. It focuses on two types of events: fiscal and political stress events, for which two innovative stress more...



Tracking Short-Term Dynamics of Economic Activity in Low-Income Countries in the Absence of High-Frequency GDP Data

Author/Editor: Shiv Dixit, Maxwell Opoku-Afari.

Release Date: May, 2012

Price: $18.00

This paper uses a set of routinely collected high-frequency data in low-income countries (LICs) to construct an aggregate and a comprehensive index of economic activity which could serve (i) as a more...



Capital Inflows, Financial Development, and Domestic Investment: Determinants and Inter-Relationships

Author/Editor: Oana Luca, Nicola Spatafora.

Release Date: May, 2012

Price: $18.00

We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and more...



Interest Rate Rules, Endogenous Cycles, and Chaotic Dynamics in Open Economies

Author/Editor: Marco Airaudo, Luis-Felipe Zanna.

Release Date: May, 2012

Price: $18.00

We present an extensive analysis of the consequences for global equilibrium determinacy in flexible-price open economies of implementing active interest rate rules, i.e., monetary rules where the 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...



The Volatility Trap: Precautionary Saving, Investment, and Aggregate Risk

Author/Editor: Reda Cherif, Fuad Hasanov.

Release Date: May, 2012

Price: $18.00

We study the effects of permanent and temporary income shocks on precautionary saving and investment in a store-or-sow model of growth. High volatility of permanent shocks results in high more...



Regional Economic Outlook, April 2012, Asia and Pacific : Managing Spillovers and Advancing Economic Rebalancing

Release Date: April, 2012

Price: $35.00

Barring the realization of downside risks to the global economy, growth in the Asia and the Pacific region is expected to gain momentum over the course of 2012, according to this report, and now 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...



Remittances Channel and Fiscal Impact in the Middle East, North Africa, and Central Asia

Author/Editor: Yasser Abdih, Adolfo Barajas, Ralph Chami, Christian Ebeke.

Release Date: April, 2012

Price: $18.00

This paper identifies a remittances channel that transmits exogenous shocks, such as business cycles in remittance-sending countries, to the public finances of remittance-receiving countries. Using more...



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