We conduct a cross-country empirical analysis of fiscal solvency based on dynamic stochastic general equilibrium conditions. The results show evidence of fiscal solvency, in the form of a robust positive conditional response of the primary balance to changes in public debt, in panels for...

Este artículo emplea un conjunto de datos reciente que distingue entre desigualdad neta y de mercado, y permite calcular las transferencias redistributivas anuales de un gran número de países. Las principales conclusiones son: 1. Sociedades más desiguales tienden a redistribuir más. 2. Una...

ADB FORUM ON THE USE OF CAPITAL CONTROLS

PANEL PRESENTATION

[eng] Policy advice to emerging market countries in the current crisis : what’s new ? what’s different ? why ? . IMF policy advice to EMEs in this crisis has been differed from that provided in previous EME crises. But these differences are largely driven by changed circumstances. Many EMEs...

We identify structural breaks in economic growth in 140 countries and use these to define “growth spells:” periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to be shorter in African and Latin American countries...

Popular perception is that emerging market economies (EMEs), and Asian Pacific Rim countries—China, Indonesia, Korea, Malaysia, Philippines, Thailand, and Vietnam (RIMs)—in particular, have been rapidly accumulating reserves, perhaps beyond what is justified by precautionary motives. This...