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Output Volatility and Openness to Trade : A Reassessment

Cavallo, Eduardo A. - 2011

This paper presents new empirical evidencesuggesting that the net effect of trade openness on output volatility is stabilizing. The methodology employed seeks to correct for the likely endogeneity of trade in this setting using gravity estimates as instrumental variables. The results confirm...

Persistent link: https://www.econbiz.de/10013126185

Fear of Sudden Stops : Lessons from Australia and Chile

Caballero, Ricardo J. - 2011

Latin American economies are exposed to substantial external vulnerability. Domestic imbalances and terms of trade shocks are often exacerbated by sudden financial distress. This paper explores ways of overcoming external vulnerability, drawing lessons from a detailed comparison of the response...

Persistent link: https://www.econbiz.de/10013126359

Global Liquidity, House Prices and the Macroeconomy : Evidence from Advanced and Emerging Economies

Cesa-Bianchi, Ambrogio - 2015

This paper first compares house price cycles in advanced and emerging economies using a new quarterly house price dataset covering the period 1990-2012. It is found that that house prices in emerging economies grow faster, are more volatile, less persistent and less synchronized across countries...

Persistent link: https://www.econbiz.de/10013023204

International Remittances and Income Inequality : An Empirical Investigation

León Ciliotta, Gianmarco - 2011

stages of migration history, there is an inequality-increasing effect of remittances on income inequality. Then, as the … remittances and income inequality. In simple cross-country regressions we find a non-monotonic link between these two variables … opportunity cost of migrating is lowered due to these effects, remittances sent to those households have a negative impact on …

Persistent link: https://www.econbiz.de/10013126244

Foreign Aid in the Aftermath of Large Natural Disasters

Noy, Ilan - 2013

This paper examines Official Development Assistance (ODA) in the aftermath of large natural disasters between 1970 and 2008. Using an event-study approach, the paper finds that while the median increase in ODA is 18 percent compared to pre-disaster flows, the typical surge is small in relation...

Persistent link: https://www.econbiz.de/10013087892

Aid and Growth : Politics Matters

Bobba, Matteo - 2011

The literature on aid effectiveness has focused more on recipient policies than the determinants of aid allocation yet a consistent result is that political allies obtain more aid from donors than non-allies. This paper shows that aid allocated to political allies is ineffective for growth,...

Persistent link: https://www.econbiz.de/10013126188

Multilateral Intermediation of Foreign Aid : What is the Trade-Off for Donor Countries?

Bobba, Matteo - 2011

Why would bilateral donors intermediate aid through a multilateral and not extend aid directly? This paper suggests a trade-off: multiple bilateral donors for each recipient may imply coordination and strategic problems but intermediating through a multilateral may dilute individual donor...

Persistent link: https://www.econbiz.de/10013126223

Who's Afraid of Foreign Aid? The Donors' Perspective

Chong, Alberto - 2011

Since efforts by industrial countries to increase the amount of foreign aid they provide have been on the rise recently, it is important to understand the determinants involved. This paper examines the factors affecting support for foreign aid among voters in donor countries. The theoretical...

Persistent link: https://www.econbiz.de/10013126257

Foreign Aid, Income Inequality, and Poverty

Calderón, Ma. Cecilia - 2011

The aim of this paper is to provide empirical evidence on the link between foreign aid and income inequality for the period 1973-2002. Since simple cross-country regressions cannot be taken as true time series findings, we also focus on dynamic panel data techniques, which allow accounting for...

Persistent link: https://www.econbiz.de/10013126267

Measuring Aid Flows : A New Approach

Chang, Charles C. - 2011

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...

Persistent link: https://www.econbiz.de/10013126494