Wine consumers rely mainly on the label to infer the quality of a bottle. But there is little empirical research on how colours can be interacted with shapes in the design of wine labels. This study draws from an experiment using data from Spain and shows that there are strong preferences for...

The bulk of recent literature on foreign exchange interventions has overlooked the potential interdependencies that may exist between these operations and the conduct of monetary policy. This is the case even under inflation targeting and especially in emerging-market economies, because central...

Wine consumers rely mainly on the label to infer the quality of a bottle. But there is little empirical research on how colours can be interacted with shapes in the design of wine labels. This study draws from an experiment using data from Spain and shows that there are strong preferences for...

This paper develops a game where the government pursues an optimal monetary policy, monopolistic trade unions set nominal wages, and firms (domestic and multinationals) choose the levels of employment and output in the economy. Employment, output, and nominal wages are affected by the nominal...

Wine consumers rely mainly on the label on the bottle to infer the quality of its content. But there is little empirical research on how colours can be interacted with shapes in the design of wine labels. This study draws from an experiment using data from Spain and shows that there are strong...

Indonesia went through a process of fiscal decentralization in 2001 involving the devolution of several policymaking and service delivery functions to the subnational tiers of government (provinces and districts). This process is likely to have affected r

This paper discusses trends in fiscal adjustment in Brazil since the 1990s, with particular emphasis on the strengthening of institutions for fiscal policymaking, and its effect on local government finances and their ability to invest in infrastructure building and upgrading. Although fiscal...

This paper tests for the existence of a lending channel in the transmission of monetary policy in Brazil using aggregate monthly data for the period 1995:12 through 2008:6. The test is carried out in a VECM setting that allows for multiple cointegrating relationships among the variable of...