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A Global Perspective
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary wi...
Does the distribution of income within a country become more equal as it grows richer? This paper uses plausibly exogenous variations in trade-weighte...
A Vulnerability Index
This paper develops a new index which provides early warning signals of a growth crisis in the event of large external shocks in low-income countries....
An Index of Public Investment Efficiency
This paper introduces a new index that captures the institutional environment underpinning public investment management across four different stages: ...
Zooming in on Latin America
Countries in Latin America and the Caribbean (LAC) have made important strides in promoting financial inclusion of firms and households. However, whil...
Fiscal Costs, Gains, and Support
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A Structural Framework for Policy
We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinent constraints to financial inclusion. We evaluate q...
New Data and Evidence for Emerging Market and Developing Economies
Tax compliance costs tend to be disproportionately higher for small and young businesses. This paper examines how the quality of tax administration af...
The Role of Pension System Design in an Aging World
This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pensio...
We examine the role of household financial access in determining the extent of risksharing in Nigeria using household-level panel data. We estimate ch...
Our study uses administrative data on firm-to-firm transactions and quasi- experimental variation in the rollout of electronic invoicing reforms in Pe...
World War I created a set of forces that affected the political arrangements and economies of all the countries involved. This period in global econom...
This paper develops a dynamic computable general equilibrium model in which optimizing agents evade taxes by operating in the underground economy. The...
This paper examines the impact of e-invoicing on firm tax compliance and performance using administrative tax data and quasi-experimental variation in...
This paper studies the impact of tax-based consolidations on reelection outcomes. Using a granular database of tax-based consolidations for a panel of...
Unpaid work, such as caring for children, the elderly, and household chores represents a significant share of economic activity but is not counted as ...
This paper examines the macroeconomic effects of tax changes during fiscal consolidations. We build a new narrative dataset of tax changes during fisc...
Low-income countries routinely experience exogenous disturbancesโsharp swings in the terms of trade, export demand, natural disasters, and volatile ...
We estimate a panel VAR model that captures cross-country, dynamic interlinkages for 10 euro area countries using quarterly data for the period 1999-2...
Stylized Facts and Lessons for Low-Income Countries
Using a comprehensive database on bank credit, covering 135 developing countries over the period 1960โ2011, we identify, document, and compare the m...
This paper describes a new, comprehensive database of tax policy measures in 23 advanced and emerging market economies over the last four decades. We ...
The Role of Fiscal Policies
Generative artificial intelligence (gen AI) holds immense potential to boost productivity growth and advance public service delivery, but it also rais...
This paper documents stylized facts on the process of structural transformation around the world and empirically analyzes its determinants using data ...
New technologies?digitalization, artificial intelligence, and machine learning?are changing the way work gets done at an unprecedented rate. Helping p...
This paper presents, for the first time, multi-dimensional indices of the quality of budget institutions in low-income countries. The indices allow fo...
Opportunities and Challenges
Climate change is one of the greatest challenges facing policymakers worldwide, and the stakes are particularly high for Asia and the Pacific. This pa...
A Sector-level Perspective on Productivity Trends in Advanced Economies
Total factor productivity growth was stagnant or slowing in many advanced countries even prior to the crisis. This paper documents sector-level produc...
This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries...
The Importance of Productivity-Enhancing Reforms in Emerging Market and Developing Economies
Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to foc...
This paper empirically assesses the role of structural and institutional reforms in driving productivity growth across countries at different stages o...
This paper uses a life-cycle framework to document new stylized facts about the nexus between job polarization and earnings inequality. Using quarterl...
This paper argues case that a tighter fiscal policy stance can meaningfully support central banks in fighting inflation in both advanced and emerging ...
A Cost-Benefit Analysis
This paper develops a cost-benefit approach that helps to quantify the optimal level of international reserves in low-income countries, focusing on th...
This paper reassesses the impact of trade liberalization on productivity. We build a new, unique database of effective tariff rates at the country-ind...
Evidence from Cross-Country Surveys
Building public support for climate mitigation is a key prerequisite to making meaningful strides toward implementing climate mitigation policies and ...
We study the supply of fiscal ideas leveraging thousands of electoral platforms from 65 countries in the Manifesto Project to link how political parti...
This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative ...
The health and economic consequences of COVID-19 are closely tied to individual compliance with recommended protective behaviors. We examine the deter...
Policies, Perceptions, and Gaps
Asia and the Pacificโs green transition will have far-reaching implications for the global economy. Over the past decades, the region has become the...