 | Debt Reduction, Fiscal Adjustment, and Growth in Credit-Constrained Economies Author/Editor: Emanuele Baldacci, Sanjeev Gupta, Carlos Mulas-Granados. Release Date:November, 2013 This paper assesses the effects of fiscal consolidations associated with public debt reduction on medium-term output growth during periods of private debt deleveraging. The analysis covers 107 more...
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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...
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| Assessing Fiscal Stress Author/Editor: Gabriela Dobrescu, Iva Petrova, Nazim Belhocine, Emanuele Baldacci. Release Date:May, 2011 This paper develops a new index which provides early warning signals of fiscal sustainability problems for advanced and emerging economies. Unlike previous studies, the index assesses the more...
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| Measuring Fiscal Vulnerability and Fiscal Stress : A Proposed Set of Indicators Author/Editor: James McHugh, Iva Petrova, Emanuele Baldacci. Release Date:April, 2011 This paper proposes a set of fiscal indicators to assess rollover risks using the conceptual framework developed by Cottarelli (2011). These indicators provide early warning signals about the more...
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| Restoring Debt Sustainability After Crises : Implications for the Fiscal Mix Author/Editor: Emanuele Baldacci, Sanjeev Gupta, Carlos Mulas-Granados. Release Date:October, 2010 This paper analyzes the experience of 99 advanced and developing economies in restoring fiscal sustainability during 1980 - 2008 after banking crises, which led to large accumulation of public debt. more...
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| Fiscal Deficits, Public Debt, and Sovereign Bond Yields Author/Editor: Manmohan S Kumar, Emanuele Baldacci. Release Date:August, 2010 The recent sharp increase in fiscal deficits and government debt in many countries raises questions regarding their impact on long-term sovereign bond yields. While economic theory suggests that this more...
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| Public Expenditures on Social Programs and Household Consumption in China Author/Editor: Emanuele Baldacci, Ding Ding, David Coady, Giovanni Callegari, Pietro Tommasino, Jaejoon Woo, Manmohan S. Kumar. Release Date:March, 2010 This paper shows that increasing government social expenditures can make a substantive contribution to increasing household consumption in China. The paper first undertakes an empirical study of the more...
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| How Effective is Fiscal Policy Response in Systemic Banking Crises? Author/Editor: Sanjeev Gupta, Carlos Mulas-Granados, Emanuele Baldacci. Release Date:July, 2009 This paper studies the effects of fiscal policy response in 118 episodes of systemic banking crisis in advanced and emerging market countries during 1980-2008. It finds that timely countercyclical more...
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| Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets Author/Editor: Sanjeev Gupta, Amine Mati, Emanuele Baldacci. Release Date:November, 2008 Using a panel of 30 emerging market economies from 1997 to 2007, this paper investigates the determinants of country risk premiums as measured by sovereign bond spreads. Unlike previous studies, the more...
| Price: $18.00
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| Social Spending, Human Capital, and Growth in Developing Countries : Implications for Achieving the MDGs Author/Editor: Emanuele Baldacci, Larry Cui, Benedict J Clements, Sanjeev Gupta. Release Date:November, 2004 Using panel data from 120 developing countries from 1975 to 2000, this paper explores the direct and indirect channels linking social spending, human capital, and growth in a system of equations. The more...
| Price: $15.00
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