Feb 2019
Author(s): Garcimartín, Carlos; Astudillo, Jhonatan A.
El propósito de este documento es analizar el impacto de la inflación en la distribución del ingreso a través de la composición del gasto de los hogares. A diferencia de otros análisis enfocados en…
Dec 2018
Author(s): Demaestri, Edgardo C.; Moskovits, Cynthia; Chiara, Jimena
This paper discusses the main issues concerning sovereign fiscal and financial risks from public–private partnerships (PPPs) with a focus on contingent liabilities (CLs). It is based on the…
Dec 2018
Author(s): Schmid, Juan Pedro; Schwartz, Moises; Zegarra, Maria Alejandra; Wright, Allan; Giles Álvarez, Laura; Waithe, Kimberly; Gauto, Victor; Bollers, Elton; Mooney, Henry; Khadan, Jeetendra; Smets, Lodewijk
The divergence in the development of the countries that correspond to the Inter-American Development Bank’s Caribbean Country Department and the Organisation of Eastern Caribbean States (OECS)…
Dec 2018
Author(s): Schmid, Juan Pedro; Waithe, Kimberly; Lorde, Kishmar
The Barbados economy has been challenged over the last decade by elevated fiscal deficits and a rapid build-up in debt. While the country has made efforts to address this challenge through revenue…
Nov 2018
Author(s): Mooney, Henry; Wright, Allan; Grenade, Kari
Fiscal councils are among the most recent innovations in terms of the architecture of fiscal institutions. This paper provides an overview of the history and evolution of these institutions, research…
Oct 2018
Author(s): Suescún, Rodrigo
This paper describes the FMM-MTFF model, a dynamic stochastic general equilibrium model developed by the Fiscal Management Division (FMM) of the Inter-American Development Bank (IDB) to support the…
Oct 2018
Author(s): Pessino, Carola; Izquierdo, Alejandro; Vuletin, Guillermo
Public spending has climbed in Latin America and the Caribbean. Riding a commodity windfall and low interest rates, many governments in the region tried to spend their way into the future.…
Sep 2018
Author(s): Schmid, Juan Pedro; Wright, Allan; Bollers, Elton; Khadan, Jeetendra; Smets, Lodewijk; Mooney, Henry; Giles Álvarez, Laura; Schwartz, Moises; Waithe, Kimberly; Deyal, Zubin; Gauto, Victor
While countries in the Caribbean are highly diverse, several common development challenges emerge, including weak fiscal institutions, crime and violence, a sluggish private sector, weak productive…
Sep 2018
Author(s): Beuermann, Diether; Schwartz, Moises; Schmid, Juan Pedro; Dippel, Christian; Schmidt-Hebbel, Klaus; Khadan, Jeetendra; Pecha, Camilo; Fajgenbaum, Jose; Loser, Claudio; Wright, Allan; Waithe, Kimberly; Bollers, Elton; Bonnett, Kevin; Wenner, Mark D.; Mejia, Camila; Mooney, Henry; Smets, Lodewijk
The book explores the historical development and status of political and economic institutions in The Caribbean. The Caribbean institutional reality is studied vis-à-vis best international practices…
Aug 2018
Author(s): Smets, Lodewijk
Policies are not designed and implemented by a social planner but are determined through a political process, based on the policymakers' preferences, beliefs and the constraints provided by…
Aug 2018
Author(s): Hernaiz, Daniel; Miller, Sebastián J.; Pedroni, Peter
A number of policy discussions in macroeconomics have to do with the impact of commodity price fluctuations on fiscal policy in commodity exporting countries. Commodity price movements, however, have…
Aug 2018
Author(s): López-Martín, Bernabé; Ramírez de Aguilar, Alberto; Samano, Daniel
We exploit a hidden Markov model where inflation is determined by government deficits financed through money creation and/or by destabilizing expectations dynamics (expectations can potentially…
Aug 2018
Author(s): Panadeiros, Monica; Pessino, Carola
El envejecimiento poblacional que caracterizará la evolución demográfica de los países latinoamericanos en las próximas décadas es probable que vaya acompañado de presiones para incrementar el gasto…
Jul 2018
Author(s): Alonso, Pablo
The establishment of the inflation targeting regime in Paraguay is relatively recent, however, the results have been satisfactory. This is because based on the observed data, from the implementation…
Jul 2018
Author(s): Libonatti, Luis
This paper presents a forecasting exercise that assesses the predictive potential of a daily price index based on online prices. Prices are compiled using web scrapping services provided by the…
Jul 2018
Author(s): Zárate, Héctor; Zapata-Sanabria, Daniel R.
The purpose of this paper is twofold. First, we evaluate the responses to the questions on inflation expectations in the World Economic Survey for sixteen inflation targeting countries. Second, we…
Jul 2018
Author(s): Castañeda-Fuentes, Juan Carlos; Valle-Samayoa, Héctor Augusto; Catalán-Herrera, Juan Carlos; Arriaza-Herrera, Juan Carlos; Gutiérrez-Morales, José; Castillo-Maldonado, Carlos Eduardo; Galindo-Gonzáles, Douglas Napoleón; Hurtarte-Aguilar, Guisela; Ortiz-Cardona, Edson Roger
Forecasting the inflation path is an important task for central banks in an inflation targeting regime. Therefore, central banks must continuously evaluate the forecasting accuracy of the models used…
Jun 2018
Author(s): Stein, Ernesto H.; Cornick, Jorge; Fernández-Arias, Eduardo; Rivas, Gonzalo
Productive development policies (PDPs) are notoriously hard. They involve a daunting level of technical detail, require public-private collaboration, are in constant danger of capture, and demand…
Jun 2018
Author(s): Rossi, José Luiz
This policy brief presents a summary of the country development challenges.
Jun 2018
Author(s): Andrian, Leandro Gaston
This policy brief presents a summary of the development challenges facing the country.