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Fiscal Policy and Income Inequality in China and BRIC+
This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over the period 1980–2013, with a...
Designing an Optimal Fiscal Strategy for Libya
Libya is highly dependent on exhaustible and volatile hydrocarbon resources, which constitute the bulk of government revenues. Although resource wealt...
Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences...
Economic Challenges and Opportunities for Asia-Pacific and the Western Hemisphere
This departmental paper analyzes the impact of the COVID-19 pandemic on tourism in the Asia Pacific region, Latin America, and Caribbean countries. Ma...
Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies...
This paper investigates the impact of taxation on firm survival, using hazard models and a large-scale panel dataset on over 4 million nonfinancial fi...
Climate change is the defining challenge of our time with complex and evolving dynamics. The effects of climate change on economic output and financia...
This paper investigates the determinants of fiscal policy behavior and its time-varying volatility, using panel data for a broad set of advanced and e...
This paper discusses the benefits and challenges of implementing a rule-based fiscal responsibility framework, using the Philippines as a case study. ...
Monetary independence is at the core of the macroeconomic policy trilemma stating that an independent monetary policy, a fixed exchange rate and free ...
With 250 million migrants globally, remittances are one of the major sources of income in many developing countries. While there is abundant evidence ...
This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal s...
This paper investigates the impact of fiscal shocks on inflation, using a large panel of 139 countries over the period 1970–2021. First, both headli...
Structural transformation has resulted in an increasing share of services in aggregate value-added in advanced and developing countries across the wor...
What is the impact of climate change on inflation and growth dynamics? This is not a simple question to answer as climate shocks tend to be ubiquitous...
Literature on whether government spending crowds out or crowds in the private sector is large, but still without an unambiguous conclusion. Using firm...
Lithuania’s immediate fiscal challenges are national security and higher costs of borrowing, but fiscal prospects are further exacerbated by long-te...
Climate change is an existential threat to the global economy and financial markets. There is a large body of literature documenting potential macroec...
This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using cointegration and error correction mo...
The widespread availability of internet search data is a new source of high-frequency information that can potentially improve the precision of macroe...
This paper investigates the connection between climate change and energy security in Europe and provides empirical evidence that these issues are the ...
This paper investigates the main determinants of income inequality in transition countries during the period 1990–2018. To this end, we address a ma...
This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structur...
Standard models—based exclusively on macro-financial variables—have made little progress in explaining the behavior of exchange rates. In this pap...
Soft power is difficult to measure directly, and existing indicators—mostly subjective and not always transparent—fail to take into account the mu...
This how-to note focuses on the management of the fiscal costs associated with natural disaster risks. Unlike other types of fiscal risks (for example...
The post-pandemic rise in consumer prices across the world has renewed interest in inflation dynamics after decades of global disinflation. This paper...
Global warming is the most significant threat to ecosystems and people’s health and living standards, especially in small island states in the Carib...
This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970–2010. The empirica...
This paper investigates house price dynamics at high frequency using city-level observations during the period 1994-2022 in Lithuania. We employ multi...
Could temporary tax cuts stimulate consumer spending? Sector-specific measures to the COVID-19 pandemic provides a quasi-experimental variation in con...
This paper provides an empirical analysis of how the frequency and severity of terrorism affect government revenue and expenditure during the period 1...
As climate change accelerates, the frequency and severity of extreme weather events are expected to worsen and have greater adverse consequences for e...
Despite the significant progress in recent years, Pakistan’s tax revenue remains low relative to comparator countries and the tax effort expected fo...
Policymakers across the world are striving to tackle the century-defining challenge of climate change without undermining potential growth. This paper...
This paper conducts a firm-level analysis of the effect of taxation on corporate investment patterns in member states of the Association of Southeast ...
Tourism was one of the fastest-growing sectors before the COVID-19 pandemic, accounting for about 10 percent of global GDP. But it has also created a ...
An Empirical Analysis of Post-Conflict Economic Transitions
This paper provides a broad empirical analysis of the determinants of post-conflict economic transitions across the world during the period 1960–201...
Estimating the Tax Pass-Through to Cigarette Prices in Pakistan
This paper estimates the magnitude and speed of tax pass-through across tobacco products at different price points in Pakistan by using a novel datase...
Humans are usually compassionate, caring and empathetic toward others, but are we really hardwired for altruism when a disaster hits? There is evidenc...