While fiscal adjustment is commonly viewed as the cornerstone of macroeconomic stabilization, the effectiveness of alternative fiscal instruments in raising national saving is still poorly understood. This paper enters the debate by estimating a private consumption function that allows for two...

The authors present an investigation, through empirical analysis, of manufacturing pricing in Chile, Israel, and South Korea during periods of trade liberalization. Given different experiences in each country, it looks at how manufacturing pricing rules change during the liberalization process....

Saving rates display considerable variation across countries and over time. This paper investigates empirically the policy and nonpolicy factors behind these saving disparities using a large, cross-country, time-series data set and following an encompassing approach including a number of...