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Structural Reforms and Economic Growth: A Machine Learning Approach

Author/Editor: Anil Ari, Gabor Pula, Liyang Sun.

Release Date:September, 2022

The qualitative and granular nature of most structural indicators and the variety in data sources poses difficulties for consistent cross-country assessments and empirical analysis. We overcome these more...



Price: $20.00
Output Losses in Europe During COVID-19: What Role for Policies?

Author/Editor: Anil Ari, Jean-Marc B Atsebi, Mar Domenech Palacios.

Release Date:July, 2022

We use a decomposition methodology to analyze the factors underlying the differentiated output losses of European countries in 2020. Our findings are fourfold: First, 2020 growth outcomes can be more...



Price: $20.00
Assessing the Macroeconomic Impact of Structural Reforms in Ukraine

Author/Editor: Anil Ari, Gabor Pula.

Release Date:April, 2021

Ukraine's economic performance has been anemic since the early 1990s. A major impediment to productivity growth has been low investment, held back by lack of strong and independent institutions. This more...



Price: $5.00
Infrastructure in Central, Eastern, and Southeastern Europe : Benchmarking, Macroeconomic Impact, and Policy Issues

Author/Editor: Anil Ari, David Bartolini, Vizhdan Boranova, Gabriel Di Bella, Kamil Dybczak, Keiko Honjo, Raju Huidrom, Andreas Jobst, Nemanja Jovanovic, Ezgi O Ozturk, Laura Papi, Sergio Sola, Michelle Stone, Petia Topalova.

Release Date:September, 2020

CESEE countries lag in terms of infrastructure compared to the EU15, and deficient infrastructure is often cited as a constraint to growth and convergence. Investing in infrastructure is therefore an more...



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Foreign Demand and Local House Prices: Evidence from the US

Author/Editor: Damien Puy, Anil Ari, Yu Shi.

Release Date:February, 2020

We test whether foreign demand matters for local house prices in the US using an identification strategy based on the existence of “home bias abroad” in international real estate markets. more...



Price: $18.00
The Dynamics of Non-Performing Loans during Banking Crises: A New Database

Author/Editor: Anil Ari, Sophia Chen, Lev Ratnovski.

Release Date:December, 2019

This paper presents a new dataset on the dynamics of non-performing loans (NPLs) during 88 banking crises since 1990. The data show similarities across crises during NPL build-ups but less so during more...



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Designing Central Bank Digital Currencies

Author/Editor: Itai Agur, Anil Ari, Giovanni Dell'Ariccia.

Release Date:November, 2019

We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; more...



Price: $18.00
Debt Seniority and Sovereign Debt Crises

Author/Editor: Anil Ari, Giancarlo Corsetti, Luca Dedola.

Release Date:May, 2018

Is the seniority structure of sovereign debt neutral for a government's decision between defaulting and raising surpluses? In this paper, we address this question using a model of debt crises where a more...



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Shadow Banking and Market Discipline on Traditional Banks

Author/Editor: Anil Ari, Matthieu Darracq-Paries, Christoffer Kok, Dawid Żochowski.

Release Date:December, 2017

We present a model in which shadow banking arises endogenously and undermines market discipline on traditional banks. Depositors' ability to re-optimize in response to crises imposes market more...



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Sovereign Risk and Bank Risk-Taking

Author/Editor: Anil Ari.

Release Date:December, 2017

I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' more...



Price: $18.00