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This paper quantifies the savings obtained from risk pooling with a Regional Stabilization Fund (RSF) for the Eastern Caribbean Currency Union. A Monte Carlo experiment is used to estimate the size of a RSF conditional on probabilities of depletion under specific saving-withdrawal rules. Results...
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Widening income disparities, higher corruption and larger informality in many emerging market and developing economies … America, while more informality increases the probability of their occurrence, corruption decreases it. In turn, when …
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