This paper estimates worker and firm impacts of foreign shocks, and the income support provided by assistance programs. It exploits quasi-experimental variation in firms' foreign demand resulting from the global financial crisis, using employer-employee data for Brazil in 2004-2017, linked with...

In the past 15 years, employment, labor market participation, and wages have grown significantly in Brazil. Improved labor market outcomes have been the main drivers of reductions in poverty and inequality. Sustaining Employment and Wage Gains in Brazil: A Skills and Jobs Agenda analyzes...

Covid-19. The Russian invasion of Ukraine. Commodity price volatility. The rise of global inflation and interest rates. Currency depreciations among indebted middle-income economies. And now, natural disasters. As a sequence of events, the consequences can be both tragic and long-lasting. After...

We assess the impact of adopting a transnational supervisor on the distance-to-distress and credit risk of large and complex banks, exploring the establishment of the Single Supervisory Mechanism (SSM) in 2014 as a quasi-natural experiment. Using a differences-in-differences approach, we compare...

Front Cover -- Contents -- Foreword -- About the Authors -- Acknowledgments -- Executive Summary -- Abbreviations -- 1 Overview -- Rationale for this report -- Road map -- Key insights -- Three dimensions of the policy response -- Implications for the COVID-19 crisis -- Notes -- References --...

Front Cover -- Contents -- Foreword -- Acknowledgments -- About the Authors -- Main Messages -- Abbreviations -- Executive Summary -- The pandemic destroyed human capital at critical moments in the life cycle -- Policies to reverse human capital losses -- Building agile, resilient, and adaptive...

This paper estimates worker and firm impacts of foreign shocks, and the income support provided by assistance programs. It exploits quasi-experimental variation in firms' foreign demand resulting from the global financial crisis, using employer-employee data for Brazil in 2004-2017, linked with...