The Covid-19 Pandemic has been a singular event that affected health, economic situation and social cohesion around the world. The International Centre for Economic Analysis (ICEA), has organized the After the Pandemic Conference Series. The conferences in the series are devoted to analyzing...

While the pandemic and recovery unfold in real time, this article investigates some of the major themes on preparations for the next pandemic. Humanity cannot rely on modern medicine to beat the next 'disease X' and the world cannot afford the extortionate health and economic policy...

The ongoing coronavirus pandemic crisis as well as demographic and climate change pose major challenges for public finances. This article deals with the implications of demographic trends in Switzerland, i.e. the progressive ageing of the population and its impact on the country’s public...

This study explores the impact of COVID-19 and how Vietnamese citizens perceived and experienced measures adopted by central and local governments to contain the CVODI-19 pandemic in 2021. In general, the COVID-19 pandemic had a more severe impact in 2021 than in 2020. Citizens showed great...

Myanmar's economy continues to be severely tested by the ongoing impacts of the military coup and the surge in COVID-19 cases in 2021. While some real-time indicators have improved in recent months, they remain consistent with a much lower level of economic activity than prior to the February...

This study analyzes how state capacity shapes the local impact of national policies by exploiting a quasi-natural experiment in the regional expansion of the state. It uses the local discontinuity created by the boundary of the largest peasant rebellion in 18th century Russia where the state...

We use the 2021 vintage of the EIB Investment Survey (EIBIS) which contains a detailed set of questions regarding the nature of the policy support to firms during the COVID-19 crisis. Matched with hard data on the balance sheets and Profit and Loss (P&L) statements of corporations, the survey...

India has risen internationally since the 1990s. The most important reasons for this success are its economic reforms since 1991 and new inter­national constellations since the East-West conflict. Both have earned the country a significantly greater say on global issues, but India’s rise is...

In this paper, we assess the role of investment in research and development (R&D) and economic policy uncertainty (EPU) in Sri Lanka's economic growth experience. We do this by first determining which endogenous growth theories best explain the evolution of total factor productivity (TFP) in the...

In this paper, I aim to discuss New Political Economy as a label for the economic analysis of politics, in the English language. The term ‘political economy’ itself, although it has ceased to be the preferred term by which economists refer to their discipline, it is still being used by a...

In South Africa, high levels of wealth inequality have persisted since 1994, to the extent that 1% of the population owns 50% of the wealth. This study examines how macroeconomic policies influenced wealth inequality in South Africa over the period 2010 to 2019 using a behavioural life-cycle...

This study examines the effect of economic policy uncertainty (EPU) on sustainable investment returns by using panel data of stock market returns and the EPU index from twelve countries for the period from April 2015 to December 2020. In addition, precious metal prices, energy prices, and...

The Russian economy has encountered substantial exchange rate volatility due to many endogenous and exogenous shocks, including the adoption of different exchange rate systems, the global financial crisis, sanctions, and the COVID pandemic. The economy has long experience with a managed floating...

We quantify and study state-level economic policy uncertainty. Tapping digital archives for nearly 3,500 local newspapers, we construct three monthly indexes for each state: one that captures state and local sources of policy uncertainty (EPU-S), one that captures national and international...

What is the appropriate role of the state in economic policy-making? This paper shows that Friedrich Hayek, who is often considered a proponent of laissez-faire liberalism, offers three different answers to this problem. First, Hayek argues that the state should provide a legal framework for...

What is the appropriate role of the state in economic policy-making? This paper shows that Friedrich Hayek, who is often considered a proponent of laissez-faire liberalism, offers three different answers to this problem. First, Hayek argues that the state should provide a legal framework for...

What accounts for income per capita and total factor productivity (TFP) differences across countries? We study resource misallocation across heterogeneous production units in a general equilibrium model where establishment productivity and size are affected by policy distortions. We solve the...

The paper examines recent macroeconomic performance and macroeconomic management frameworks in Kyrgyzstan, Tajikistan and Afghanistan. It also reviews existing literature on macroeconomic policies recommended for technological development of low/lower middle income countries. The literature...

The experience of the EFSD in the last 10 years has raised important questions about the developmental role an RFA could play for low income or less-developed countries. Even though other RFAs do not have a development mandate, the EFSD’s operational model inspires the RFAs to reflect on their...

The currency board arrangement (CBA) in Bulgaria will soon mark its twenty fifth anniversary, a period full of important policy challenges and difficult choices for the policymakers. This paper summarizes the evolution of Bulgaria’s macroeconomic policy set under this monetary and exchange...

Lighthouses are the quintessential public goods and thus are used as a key example of market failure. However, little attention has been devoted to how lighthouse systems operated once governments took charge of remedying the public goods problem. We exploit the fact that Antebellum America came...

This paper uses panel data from 1998 to 2014 and a two-way fixed effect model to analyze the impact of economic policy uncertainty on energy efficiency. In particular, this paper adopts the Epsilon-Based Measure model to calculate enterprise energy efficiency and verify the robustness of...

This study analyzes how state capacity shapes the local impact of national policies by exploiting a quasi-natural experiment in the regional expansion of the state. It uses the local discontinuity created by the boundary of the largest peasant rebellion in 18th century Russia where the state...

This paper investigates the correlation of economic policy uncertainty (EPU) with nonperforming loans and loan loss provisions for 22 developed countries from 2008 to 2017. The findings reveal that economic policy uncertainty is negatively correlated with nonperforming loans and loan loss...

We empirically examine the effects of economic policy uncertainty (EPU) of which measurement methodology Baker, Bloom & Davis (2019) propose on the investment and cash holding behaviors of Japanese firms. We also examine spillover effects of EPU of the United States on them. We find that...

The Indonesian government always pays attention and focuses on the context of economic recovery during the Covid-19 Pandemic to MSMEs so that they are able to rise from adversity and be able to reabsorb workers who have lost their jobs during the COVID-19 pandemic. Many businesses, especially...

Human enterprise and social systems of organizing economic activity are predominantly based either on competitive or cooperative principles. Despite the dominance of competitive principles in contemporary capitalism, historically these principles manifested in many different combinations in...

The National Bureau of Economic Research (NBER) was founded in 1920, largely in response to controversies between free market advocates and proponents of centralized government planning, over the “fair” distribution of income in the American economy. As a result of an early agreement between...

The paper presents the results of the research of the think tank sector in Armenia. The process of emerging and the process of development of the think tank sector since Armenia's independence, as well as the main factors hindering the development of that sphere and its full establishment were...

Can autocracies and their associated institutions successfully implement economic policies that promote growth and investment? Can ‘good economics’ somehow offset the effects of ‘bad’ politics? Kazakhstan is a case where an autocratic regime has actively projected market-friendly...

This study investigates the dynamic pattern of the interdependence among G7 stock markets, namely the US, the UK, France, Germany, Italy Canada and Japan over the 1988-2021 period. The state-space formulation of the time-varying cointegrating coefficient allows us to examine the potential...

We explore the impact of economic policy uncertainty exposure (hereafter, EPU exposure) on stock price bubbles. We fnd that there exists a signifcantly positive relationship between EPU exposure and stock price bubbles. This result is still signifcant after a series of robustness checks....