Jun 2010
Author(s): Benigno, Gianluca; Chen, Huigang; Otrok, Christopher; Rebucci, Alessandro; Young, Eric R.
This paper analyzes quantitatively the extent to which there is overborrowing (i.e., inefficient borrowing) in a business cycle model for emerging market economies with production and an occasionally…
Dec 2009
Author(s): Scartascini, Carlos; Stein, Ernesto H.; Tommasi, Mariano; Jones, Mark P.; Saiegh, Sebastián; Magaldi de Sousa, Mariana; Martínez-Gallardo, Cecilia; Zuvanic, Laura; Iacoviello, Mercedes; Rodríguez Gusta, Ana Laura; Monaldi, Francisco; Schneider, Ben Ross; Murillo, Maria Victoria; Schrank, Andrew; Hughes, Sallie
Over the past 30 years, democratic freedoms and competitive electoral processes have taken hold as never before in Latin America. How Democracy Works takes a detailed look, from an institutional…