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Global temperatures have increased at an unprecedented pace in the past 40 years. This paper finds that increases in temperature have uneven macroecon...
Despite significant headwinds from population aging in most advanced economies (AEs), labor force participation rates show remarkably divergent trajec...
Selected Issues
This Selected Issues paper analyzes the conditions under which Italian banks can earn sufficient profits to grow out of their asset quality problems, ...
Evidence from Advanced Economies
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to i...
Evidence from Europe
This paper examines the link between gender diversity in senior corporate positions and financial performance of 2 million companies in Europe. We doc...
The Case of India
Using a panel of firm-level data, this paper examines the effects of India's trade reforms in the early 1990s on firm productivity in the manufacturin...
Economic Challenges
Against the background of political turmoil in the Middle-East, Europe faces an unprecedented surge in asylum applications. In analyzing the economic ...
Evidence from Italian Provinces
This paper studies the effect of public sector efficiency on firm productivity using data from more than 400,000 firms across Italyโs provinces. Exp...
European housing markets are at a turning point as the cost-of-living crisis has eroded real incomes and the surge in interest rates has made borrower...
Female labor force participation has increased markedly in many European countries during the past decades. Nonetheless, participation rates remain lo...
We explore the extent to which macroeconomic policies, structural policies, and institutions can mitigate the negative relationship between temperatur...
Evidence from India
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rur...
Global trade growth has slowed since 2012 relative both to its strong historical performance and to overall economic growth. This paper aims to quanti...
This paper examines the role of removing obstacles to competition in product markets in raising growth and productivity. Using firm-level data from It...
Drivers and Benefits
With an aging population and declining productivity growth, Europe faces serious challenges to raising its output growth. Adding to these challenges a...
Reducing transport sector emissions is an important pillar of the green transition. However, the transition to electric vehicles (EV) portends major c...
Economic performance in many emerging market and developing economies (EMDEs) improved substantially over the past twenty years. The past decade was p...
We analyze trade dynamics following past episodes of financial crises. Using an augmented gravity model and 179 crisis episodes from 1970-2009, we fin...
Cars in Europe: Supply Chains and Spillovers during COVID-19 Times...
This paper studies the economic impact of fragmentation of commodity trade. We assemble a novel dataset of production and bilateral trade flows of the...
Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and devel...
This paper discusses possible medium-term public debt targets for India, based on evidence from the economic literature on prudent levels of public de...
Anytime, Anywhere
Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed databa...
Global linkages are changing amidst elevated geopolitical tensions and a surge in policies directed at increasing supply chain resilience and national...
Advanced economies are in the midst of a major demographic transition, with the number of elderly rising precipitously relative to the working-age pop...
We examine the effect of tariff policies on evasion of customs duties, in the context of the trade reform in India of the 1990s. We exploit the variat...
In 2021-22, inflation in Europe soared to multidecade highs, consistently exceeding policymakersโ forecasts and surprising with its wide cross-count...
Why do many households remain exposed to large exogenous sources of non-systematic income risk? Why don't financial markets develop to pool these risk...
Do the short and medium term adjustment costs associated with trade liberalization influence schooling and child labor decisions? We examine this ques...
While many have celebrated India's accelerating economic growth, some have expressed concern about the distributional impacts of the growth process. C...
Benchmarking, Macroeconomic Impact, and Policy Issues
CESEE countries lag in terms of infrastructure compared to the EU15, and deficient infrastructure is often cited as a constraint to growth and converg...
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This paper examines India's experience with fiscal rules with a view to inform the design of a possible successor fiscal framework to the FRBMA. Among...
1989-2002
This paper uses firm-level data to examine the performance of India's nonfinancial corporate sector since 1989 and evaluate its financial vulnerabilit...
This paper uses firm-level data to examine the performance of India`s nonfinancial corporate sector since 1989 and evaluate its financial vulnerabilit...