We analyze how the altruism of an international financial institution (IFI) towards its low-income member countries (LICs) alters the effectiveness of its loans. We study IFI loans to a credit-constrained LIC. The IFI`s repayment policy is determined by the interplay of its concerns for the...

Improving the effectiveness of financial assistance programs is a priority of international financial institutions (IFIs). This paper examines the effectiveness of alternative assistance instruments in a dynamic political economy framework. Economic policies of the receiving country are...

We present estimates of welfare by country for 2007 and 2014 using the methodology of Jones and Klenow (2016) which incorporates consumption, leisure, mortality and in equality, and we extend the methodology to include environmental externalities. During the period of the global financial crisis...

This textbook examines corruption through a macroeconomic lens, exploring the relationship between corruption, fiscal policy, and political economy. The book merges macroeconomic growth models with elements of political economic theory to address important applied topics such as income...

This paper discusses the forces driving capital flows in the transition countries of Central and Eastern Europe (CEE). It argues that various influences - specifically, the real exchange rate history and trend and the factor intensity of production - can combine to motivate very large capital...

This book addresses major economic problems affecting the United States and proposes policy reforms to target them. The authors use a broad survey of economic research to conduct an evidence-based assessment of four economic issues affecting the US and other developed nations: slowing economic...

1. Overview -- Part I One-Sector Growth Models -- 2. Overlapping-Generations Model of Economic Growth -- 3. Fiscal Policy -- 4. Schooling and Fertility -- 5. A Complete One-Sector Neoclassical Growth Model -- Part II Two-Sector and Dual Economies -- 6.Two Sector Growth Models -- 7. Wage and...

Overview -- Overlapping-Generations Model of Economic Growth -- Fiscal Policy -- Schooling and Fertility -- A Complete One-Sector Neoclassical Growth Model -- Two Sector Growth Models -- Wage and Fertility Gaps in Dual Economies -- Physical Capital in Dual Economies -- A Complete Dual Economy --...

This paper discusses the forces driving capital flows in the transition countries of Central and Eastern Europe (CEE). It argues that various influences – specifically, the real exchange rate history and trend and the factor intensity of production – can combine to motivate very large...