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This study estimates the size of the informal economy, and the relative contribution of each underlying factor, for the Caucasus and Central Asia coun...
Despite closing output gaps and tightening labor markets, inflation has remained low in the euro area. Based on an augmented Phillips Curve framework,...
Insights from a Bottom-Up Approach
Over the past two decades, U.S. core PCE goods and services inflation have evolved differently. Against the backdrop of global concerns of low inflati...
The U.S. labor share of income has been on a secular downward trajectory since the beginning of the new millennium. Using data that are disaggregated ...
This paper identifies a remittances channel that transmits exogenous shocks, such as business cycles in remittance-sending countries, to the public fi...
Climate change is among humanity’s greatest challenges, and the Middle East and Central Asia region is on the frontlines of its human, economic, and...
In this paper, we undertake empirical analysis to understand U.S. wage behavior since the beginning of the new millennium. At the macroeconomic level,...
Are We Fretting too Much? Household Saving and Assets in the United States
Household savings rates in the United States have recently crept up from all-time lows. Some have suggested that a shift toward frugality will hamper ...
We investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio can be modified to create a mo...