 | The Political Costs of Reforms : Fear or Reality? Author/Editor: Davide Furceri, Jun Ge, Jonathan David Ostry, Chris Papageorgiou, Gabriele Ciminelli. Release Date:October, 2019 Many countries are experiencing persistent, weak medium-term growth and limited fiscal space. Against this background, economic policy agendas—in both advanced and developing economies—are more...
| Price: $10.00
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 | International Fiscal-financial Spillovers: The Effect of Fiscal Shocks on Cross-border Bank Lending Author/Editor: Sangyup Choi, Davide Furceri, Chansik Yoon. Release Date:July, 2019 This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic more...
| Price: $18.00
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| Macroeconomic Consequences of Tariffs Author/Editor: Davide Furceri, Swarnali Ahmed Hannan, Jonathan David Ostry, Andrew K Rose. Release Date:January, 2019 We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using a panel of annual data that spans 151 countries over 1963-2014. We find that more...
| Price: $18.00
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| Employment Protection Deregulation and Labor Shares in Advanced Economies Author/Editor: Gabriele Ciminelli, Romain A Duval, Davide Furceri. Release Date:August, 2018 Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies more...
| Price: $18.00
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| Twin Deficits in Developing Economies Author/Editor: Davide Furceri, Aleksandra Zdzienicka. Release Date:July, 2018 This paper provides new evidence on the existence and magnitude of the “twin deficits” in developing economies. It finds that a one percent of GDP unanticipated increase in the government budget more...
| Price: $18.00
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| The Needle in the Haystack: What Drives Labor and Product Market Reforms in Advanced Countries? Author/Editor: Romain A Duval, Davide Furceri, Jakob Miethe. Release Date:May, 2018 The political economy literature has put forward a multitude of hypotheses regarding the drivers of structural reforms, but few, if any, empirically robust findings have emerged thus far. To make more...
| Price: $18.00
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| The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data Author/Editor: Davide Furceri, Prakash Loungani, Jonathan David Ostry. Release Date:April, 2018 We take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flows—financial globalization. Both country- and industry-level results suggest that more...
| Price: $18.00
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| The Distributional Effects of Government Spending Shocks in Developing Economies Author/Editor: Davide Furceri, Jun Ge, Prakash Loungani, Giovanni Melina. Release Date:March, 2018 We construct unanticipated government spending shocks for 103 developing countries from 1990 to 2015 and study their effects on income distribution. We find that unanticipated fiscal consolidations more...
| Price: $18.00
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| Inflation Anchoring and Growth: Evidence from Sectoral Data Author/Editor: Sangyup Choi, Davide Furceri, Prakash Loungani. Release Date:March, 2018 Central bankers often assert that low inflation and anchoring of inflation expectations are good for economic growth (Bernanke 2007, Plosser 2007). We test this claim using panel data on sectoral more...
| Price: $18.00
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| A Narrative Database of Major Labor and Product Market Reforms in Advanced Economies Author/Editor: Romain A Duval, Davide Furceri, Bingjie Hu, João Tovar Jalles, Huy Nguyen. Release Date:January, 2018 This paper describes a new database of major labor and product market reforms covering 26
advanced economies over the period 1970-2013. The focus is on large changes in product market
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