 | How Should Credit Gaps Be Measured? An Application to European Countries Author/Editor: Chikako Baba, Salvatore Dell'Erba, Enrica Detragiache, Olamide Harrison, Aiko Mineshima, Anvar Musayev, Asghar Shahmoradi. Release Date:January, 2020 Assessing when credit is excessive is important to understand macro-financial vulnerabilities and guide macroprudential policy. The Basel Credit Gap (BCG) – the deviation of the credit-to-GDP ratio more...
| Price: $18.00
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 | Lessons for Effective Fiscal Decentralization in Sub-Saharan Africa Author/Editor: Niko A Hobdari, Vina Nguyen, Salvatore Dell'Erba, Edgardo Ruggiero. Release Date:July, 2018 Fiscal decentralization is becoming a pressing issue in a number of countries in sub-Saharan Africa, reflecting demands for a greater local voice in spending decisions and efforts to strengthen more...
| Price: $20.00
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| Medium-Term Fiscal Multipliers during Protracted Recessions Author/Editor: Salvatore Dell'Erba, Marcos Poplawski-Ribeiro, Ksenia Koloskova. Release Date:December, 2014 The paper examines the consequences of fiscal consolidation in times of persistently lowgrowth and high unemployment by estimating medium-term fiscal multipliers duringprotracted recessions (PR) in a more...
| Price: $18.00
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| Global Factors in the Term Structure of Interest Rates Author/Editor: Mirko Abbritti, Salvatore Dell'Erba, Antonio Moreno, Sergio Sola. Release Date:November, 2013 This paper introduces global factors within a FAVAR framework in an empirical affine term structure model. We apply our method to a panel of international yield curves and show that global factors more...
| Price: $18.00
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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 We 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...
| Price: $18.00
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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 This 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...
| Price: $18.00
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| The Impact of Debt Sustainability and the Level of Debt on Emerging Markets Spreads Author/Editor: Nazim Belhocine, Salvatore Dell'Erba. Release Date:May, 2013 How do financial markets respond to concerns over debt sustainability and the level of public debt in emerging markets? We introduce a measure of debt sustainability – the difference between the more...
| Price: $18.00
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| Spatial Spillovers in Emerging Market Spreads Author/Editor: Salvatore Dell'Erba, Emanuele Baldacci, Tigran Poghosyan. Release Date:September, 2011 We use novel spatial econometrics techniques to explore spillovers in the sovereign bond market for 24 emerging economies during 1995-2010. The paper extends the previous literature focusing on more...
| Price: $18.00
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