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Large Fiscal Episodes and Sustainable Development : Some International Evidence
Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien; Park, … - 2022
This paper examines the association between episodes of large fiscal impulses (expansions and adjustments) and sustainable development indicators (prosperity, resilience, and inclusivity).We provide country studies of Chile, Poland, South Africa, and Thailand, examining the components of...
Persistent link: https://www.econbiz.de/10013309292
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Globalization and taste convergence : the cases of wine and beer
Aizenman, Joshua; Brooks, Eileen L. - 2005
data on 38 countries from 1963-2000, there is clear convergence in the consumption of wine relative to beer between 1963 … and 2000. Convergence occurs even more quickly within groups of countries that have a higher degree of integration. A key … converging, several Latin American countries fail to converge. The patterns of convergence are consistent with dynamics of …
Persistent link: https://www.econbiz.de/10011520443
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Takeoffs
Aizenman, Joshua; Spiegel, Mark - 2007
This paper identifies factors associated with takeoff - a sustained period of high growth following a period of stagnation. We examine a panel of 241 stagnation episodesʺ from 146 countries, 54 % of these episodes are followed by takeoffs. Countries that experience takeoffs average 2.3% annual...
Persistent link: https://www.econbiz.de/10003855051
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Fiscal space and increasing fiscal resilience
Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - 2019
The paper compares fiscal cyclicality across regions and countries from 1960 to 2016. It finds that more than half of 170 countries analyzed in seven regions had, in more recent years, limited fiscal space, and that their fiscal policy was either cyclical or procyclical. This was particularly...
Persistent link: https://www.econbiz.de/10012020530
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Fiscal fragility : what the past says about the future
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...
Persistent link: https://www.econbiz.de/10008689002
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Fiscal fragility: what the past may say about the future/ Joshua Aizenman and Gurnain Kaur Pasricha
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the increase in stock of public debt/GDP induced by the global recession, to include the perspective that the sustainability of a given public debt/GDP depends on...
Persistent link: https://www.econbiz.de/10008698949
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De facto fiscal space and fiscal stimulus : definition and assessment
Aizenman, Joshua; Jinjarak, Yothin - 2010
We define the notion of 'de facto fiscal space' of a country as the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the...
Persistent link: https://www.econbiz.de/10008699018
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De facto fiscal space and fiscal stimulus : definition and assessment
Aizenman, Joshua; Jinjarak, Yothin - 2010
We define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to...
Persistent link: https://www.econbiz.de/10008732193
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The fiscal stimulus of 2009-10 : trade openness, fiscal space and exchange rate adjustment
Aizenman, Joshua; Jinjarak, Yothin - 2011
This paper studies the cross-country variation of the fiscal stimulus and the exchange rate adjustment propagated by the global crisis of 2008-9, identifying the role of economic structure in accounting for the heterogeneity of response. We find that greater de facto fiscal space prior to the...
Persistent link: https://www.econbiz.de/10009269999
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Fiscal Space and Increasing Fiscal Resilience
Aizenman, Joshua - 2020
The paper compares fiscal cyclicality across regions and countries from 1960 to 2016. It finds that more than half of 170 countries analyzed in seven regions had, in more recent years, limited fiscal space, and that their fiscal policy was either cyclical or procyclical. This was particularly...
Persistent link: https://www.econbiz.de/10012835368