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Uzbekistan's Transition to Inflation Targeting

Author/Editor: Moayad Al Rasasi, Ezequiel Cabezon.

Release Date:November, 2022

Uzbekistan has significantly improved its monetary policy framework during 2017-21. Nevertheless, the transition to inflation targeting is challenging as the country is going through a period of deep more...



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Macroprudential Policies to Enhance Financial Stability in the Caucasus and Central Asia

Author/Editor: Padamja Khandelwal, Ezequiel Cabezon, Sanan Mirzayev, Rayah Al-Farah.

Release Date:March, 2022

Limited economic diversification has made the economies of the Caucasus and Central Asia particularly vulnerable to external shocks. The economies in the region are heavily reliant on oil and mining more...



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Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe

Author/Editor: Christine J Richmond, Dora Benedek, Ezequiel Cabezon, Bobana Cegar, Peter Dohlman, Michelle Hassine, Beata Jajko, Piotr Kopyrski, Maksym Markevych, Jacques A Miniane, Francisco J Parodi, Gabor Pula, James Roaf, Min Kyu Song, Mariya Sviderskaya, Rima A Turk, Sebastian Weber.

Release Date:June, 2019

The Central, Eastern, and South Eastern European (CESEE) region is ripe for a reassessment of the role of the state in economic activity. The rapid income convergence with Western Europe of the early more...



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Counting the Oil Money and the Elderly: Norway's Public Sector Balance Sheet

Author/Editor: Ezequiel Cabezon, Christian Henn.

Release Date:August, 2018

Based on a permanent income analysis, Gagnon (2018) has prominently suggested that Norway has saved too much, thereby free-riding on the rest of the world for demand. Our public sector balance sheet more...



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The Effective Lower Bound for the Policy Rate in Euroized Economies—An Application to the Case of Albania

Author/Editor: Guido della Valle, Erald Themeli, Romain M Veyrune, Ezequiel Cabezon, Shaoyu Guo.

Release Date:March, 2018

Based on the experience of the Bank of Albania, the paper proposes a framework to estimate the interest rate lower bound in small, open, and euroized economies. The paper introduces a more...



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Public Infrastructure in the Western Balkans : Opportunities and Challenges

Author/Editor: Ruben V Atoyan, Dora Benedek, Ezequiel Cabezon, Giuseppe Cipollone, Jacques A Miniane, Nhu Nguyen, Martin Petri, Jens Reinke, James Roaf.

Release Date:February, 2018

An assessment of public infrastructure development in the Western Balkans. The paper quantifies the large gaps across various sectors/dimensions, evaluates current infrastructure plans, and discusses more...



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Euroization Drivers and Effective Policy Response: An Application to the case of Albania

Author/Editor: Guido della Valle, Vasilika Kota, Romain M Veyrune, Ezequiel Cabezon, Shaoyu Guo.

Release Date:January, 2018

This paper proposes a methodology to develop empirically based and theoretically consistent deeuroization policies. It is derived from the experience of Albania. The paper is the first attempt to more...



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Strengthening Fiscal Frameworks and Improving the Spending Mix in Small States

Author/Editor: Ezequiel Cabezon, Patrizia Tumbarello, Yiqun Wu.

Release Date:June, 2015

Reflecting diseconomies of scale in providing public goods and services, recurrentspending in small states typically represents a large share of GDP. For some small states,this limits the fiscal more...



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Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific

Author/Editor: Ezequiel Cabezon, Leni Hunter, Patrizia Tumbarello, Kazuaki Washimi, Yiqun Wu.

Release Date:June, 2015

Natural disasters and climate change are interrelated macro-critical issues affecting allPacific small states to varying degrees. In addition to their devastating human costs, theseevents damage more...



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Asia and Pacific Small States Monitor, August 2014

Release Date:August, 2014

This issue of the Asia & Pacific Small States Monitor focuses on the challenges facing Asia and Pacific small states associated with natural disasters and climate change. Most tourism-oriented more...



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