This paper broadens the scope of current theoretical studies, divides rural agriculture into two sectors--advanced and traditional, and takes into consideration the land factor and the urban informal sector. Under the assumption that wages in the advanced agricultural sector are higher than in...

This paper explores the determinants of bilateral trade flows between Mercosur countries. To this aim, a gravity model is applied to annual bilateral exports between 75 countries in 1980--2008. The model is augmented with variables that are relevant in determining the volume and direction of...

Social impact bonds (SIBs) attract private investment to social programs by paying a market rate of return if predefined outcome targets are met. SIBs monetize benefits of social interventions and tie pay to performance, limiting governmental control once the contract is designed. Despite policy...

This paper analyses the effects of structural reform and fiscal consolidation policies in the Euro Area using a stylized new-Keynesian model. A number of issues are focused upon: (i) the modelling and effects of fiscal consolidation and structural reforms, and (ii) evaluation of alternative...