May 2023
This paper examines the welfare implications of alternative rule-based fiscal policies in an economy with financially-constrained households. Using a New Keynesian DSGE model of a multi-sectoral…
May 2023
This edition of the Caribbean Economics Quarterly focuses on the issue of long-term economic growth. As economies have recovered from the pandemic, the main question is: Will the region return to…
May 2023
Investment rates are substantially reduced for firms with higher leverage and higher risk of default. For firms with low risk, higher leverage does not reduce investment; in fact, in these cases we…
May 2023
Las tasas de inversión corporativa son considerablemente menores en las empresas con mayor apalancamiento y mayor riesgo de impago. En las empresas con bajo riesgo de quiebra, un alto grado de…
Apr 2023
The Caribbean economies are well-ranked in terms of womens participation in the labor market, but less so in terms of innovation, suggesting the relevance of an analysis of gender diversitys impact…
Apr 2023
We investigate how the presence of physical bank branches moderates financial technology diffusion. Our identification strategy uses services suspensions caused by criminal groups that perform hit-…
Apr 2023
We study the labor market and macroeconomic effects of introducing a carbon tax in the energy sector in emerging economies (EMEs) by building a framework with equilibrium unemployment and firm entry…
Apr 2023
We conduct a meta-analysis of 44 studies and 68 different managerial skills training programs, with the aim of identifying program characteristics that can lead to more effective public policies…
Mar 2023
Developing countries are characterized by a high share of informal workers and several types of labor market regulation. We study the effects of the enforcement of this type of regulation on firm…
Mar 2023
Due to an increase in import competition from the early 2000s, Mexico experienced a loss in manufacturing employment of 1.8 percentage points accompanied by a decrease in wages in the short run.…
Mar 2023
Debido a un aumento de la competencia de las importaciones desde comienzos de la década del 2000, México experimentó una pérdida de empleos en el sector manufacturero de 1,8 puntos porcentuales,…
Mar 2023
This study presents new findings on the impact of the COVID-19 pandemic on productivity and innovation for Caribbean firms, with particular focus on the effects on firm gender diversity and workforce…
Mar 2023
In the Caribbean region, clusters hold tremendous potential because of the predominance of small and micro enterprises, their weak link in value chains and the scarcity of specialized inputs. The…
Mar 2023
While Caribbean Small Island Developing States (SIDS) have been exposed to frequent external shocks in the past, the Coronavirus disease of 2019 (COVID-19) pandemic is like no other, representing the…
Feb 2023
We study how signaling skills that are specific to college majors affect labor market outcomes of college graduates. We rely on census-like data and a regression discontinuity design to study the…
Feb 2023
We estimate import processing costs based on the time it takes to import. Our theory extends existing time-cost measures to account for uncertainty in import processing. We use detailed, highly…
Feb 2023
We conducted two randomized controlled trials (RCTs) to evaluate the impact of government-guaranteed loans offered by the Chilean and Colombian governments. The public funds of these programs greatly…
Feb 2023
We develop a quantitative theory of prices in firm-to-firm trade with bilateral negotiations and two-sided market power. Markups reflect oligopoly and oligopsony forces, with relative bargaining…
Feb 2023
In 2022, the Central American region and the Dominican Republic expected to continue its path towards economic recovery that it had begun in 2021. However, new external shocks interrupted these…
Feb 2023
En 2022 se esperaba continuar la senda de recuperación económica iniciada en 2021 para la región de Centroamérica y República Dominicana, pero nuevos choques externos deterioraron estas perspectivas…