Author/Editor: Vitor Gaspar, Maurice Obstfeld, Ratna Sahay, Douglas Laxton, Dennis P Botman, Kevin Clinton, Romain A Duval, Kotaro Ishi, Zoltan Jakab, Laura Jaramillo, Constant A Lonkeng Ngouana, Tommaso Mancini Griffoli, Joannes Mongardini, Susanna Mursula, Erlend Nier, Yulia Ustyugova, Hou Wang, Oliver Wuensch.

Release Date:September, 2016

The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or more...

Author/Editor: Vincent Belinga, Constant Lonkeng Ngouana.

Release Date:May, 2015

This paper provides estimates of the government spending multiplier over the monetarypolicy cycle. We identify government spending shocks as forecast errors of the growth rateof government spending more...

Author/Editor: Christian Ebeke, Constant Lonkeng Ngouana.

Release Date:May, 2015

This paper shows that high energy subsidies and low public social spending can emerge as anequilibrium outcome of a political game between the elite and the middle-class when the provisionof public more...

Author/Editor: Julio Escolano, Christina Kolerus, Constant Lonkeng Ngouana.

Release Date:December, 2014

This paper finds that tightening global financial conditions can worsen emerging economies’ public debt dynamics through an increasing interest rate-growth differential, particularly if coupled more...

Author/Editor: Constant Lonkeng Ngouana.

Release Date:August, 2012

A distinctive feature of market-provided services is that some of them have close substitutes at home. Households may therefore switch between consuming home and market services in response to more...

Author/Editor: Constant Lonkeng Ngouana.

Release Date:March, 2012

This paper assesses the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes: a hard peg to a single currency and a peg to a basket of more...