This paper presents a rational political budget cycle model for an open economy, in which devaluations are delayed in the pre-election period so as to increase the electoral chances of the party in office. By concentrating on closed economies, previous political cycle models had overlooked the...

In this paper, social mobility is measured by looking at the extent to which family background determines socioeconomic success. An index of social mobility for developing countries is proposed based on the correlation of schooling gaps between siblings

In this paper detailed information on the budget institutions of Latin American countries is collected. These institutions are classified on a hierarchical/collegial scale, as a function of the existence of constraints on the deficit and voting rules

This paper uses household data from two cities in Panama to evaluate the determinants of the tenure decision in the context of two models. The key factors explaining the decision to rent or own are those associated with the family`s lifecycle, while the choice between buying a complete house and...

Following the 1994 financial crisis, the rate of saving of the Mexican economy fell from 21. 7 percent to 19. 8 percent of GDP. The decline was associated with a reduction in the rate of external saving from 6. 9 to 0. 5 percent between 1994 and 1995. The overall reduction was not more dramatic...

This project examines fiscal reforms in Brazil since the 1990s, particularly in taxation, budgeting, and fiscal federalism. While recentralizing fiscal authority and massively expanding the extractive capacity of the state, policymakers chose not to revamp an inefficient tax system that has...

The debate on the effectiveness of foreign aid has intensified in recent years as aid has come under increasing budgetary pressures in donor countries. Whatever the merits of the opposing arguments, the fundamental issue arises of whether conventionally-used measures of aid such as ODA, which...

This study undertakes an econometric analysis of data on the use of child care services and labor force participation drawn from a survey of 1,720 households in 15 `favelas,` or slums, in Rio de Janeiro. The analysis examines the impact that access to child care services has on female labor...

The effects of market and policy reforms on poverty and inequality in Latin America have been of considerable concern. The region continues to have relatively great income inequalities. Two different societies with the same income distribution may have different levels of social welfare because...

Unemployment is regarded as one of the most challenging economic problems facing the governments of the Caribbean. Although there are variations in the measurement of unemployment, official estimates obtained from labor force surveys indicate that in 1995 the unemployment rate ranged from 7. 8...