This paper reviews the design and operation of the Chilean fiscal rule in the past 30 years. Using different empirical approaches, we assess its impact on fiscal procyclicality, public debt, and public investment. While there has been substantial progress in building a modern institutional...

How sensitive is inward foreign direct investment (FDI) from the United States (US) to developing Asia to corporate tax rates? This is a relevant question given the sweeping US tax bill effective in 2018, which provided incentives for US corporations abroad to repatriate profits. Using panel...

A growing body of scholarly literature has attempted to measure and value unpaid care work in various countries, but perhaps only the government statistical agencies in the United States and the United Kingdom have seriously undertaken periodic and systematic measures of the time spent on unpaid...

This paper estimates the effects of gradually introducing a USD 25/ton CO2-equivalent carbon tax in South Asian economies using the Climate Policy Assessment Tool (CPAT). The results for South Asia suggest that monetized welfare co-benefits net of efficiency costs from such a tax-regardless of...

Using the dating algorithm by Harding and Pagan (2002) on a quarterly database for 23 emerging market economies (EMEs) and 12 developed countries over the period 1980.Q1 - 2006.Q2, the authors proceed to characterize and compare the business cycle features of these two groups. They first find...

An open economy inserted in an environment with increasing participation of global value chains, such as the Chilean economy, requires information about how its business integrates into international markets. The contribution of this study is that it evaluates the stages and patterns of Chilean...