The nature of the microeconomic frictions that transform sudden stops in output collapses is not only of academic interest, but also crucial for the correct design of policy responses to prevent and address these episodes and the lack of evidence on this regard is an important shortcoming. This...

While increasing years of schooling has been a long-standing development priority, the associated fiscal costs and benefits have been less studied, because of a lack of appropriate data. Recently, an UNESCO-funded project measured subsidies, by levels of schooling, from all levels of government,...