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.…
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…
Sep 2017
Author(s): Fernandez, Andres; Imrohoroglu, Ayse; Tamayo, Cesar
Latin American countries have long exhibited low levels of saving rates when compared to other countries in relatively similar stages of economic development (e.g., Asian economies). Motivated by…
Aug 2017
Author(s): Cavallo, Eduardo A.; Valencia, Oscar
This policy brief summarizes a conference on recent developments in the analysis of current account sustainability held by Research Department of the Inter- American Development Bank (IDB) and Banco…
Apr 2017
Author(s): Chirinos-Leañez, Ana María; Pagliacci, Carolina
This paper evaluates whether fiscal and foreign exchange policy shocks canexplain both credit and credit supply in Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit…
Apr 2016
Author(s): Powell, Andrew
The commodities boom that once buoyed the regions economies is over, and countries have less fiscal space to undertake counter-cyclical policies than they did during the global financial crisis.…
Apr 2016
Author(s): Powell, Andrew
El auge de las materias primas que en un determinado momento benefició las economías de la región ha acabado, y los países tienen menos espacio fiscal para emprender políticas contracíclicas que…
Sep 2015
Author(s): Hallerberg, Mark; Scartascini, Carlos
This paper examines whether elections, which are generally held on fixed dates, and banking crises explain the timing of tax reforms and the allocation of the additional tax burden. Using an…
Jul 2015
Author(s): García-Cicco, Javier; Kawamura, Enrique
This paper evaluates from a welfare perspective three policy alternatives for dealing with Dutch disease problems originating from cyclical movements in commodity prices: fiscal rules for government…
Apr 2015
Author(s): Espino, Emilio; González Rozada, Martín
This paper explores the qualitative and quantitative implications of taxation for growth and savings in three Latin American countries: Brazil, Chile and Mexico, studying a small open economy in the…
Jan 2015
Author(s): Funaro, Rita
This edition of IDEA reviews a few of the highlights of the Research Department's 20th anniversary meeting. More importantly, it invites readers to participate in its ongoing journey to…
Jan 2015
Author(s): Funaro, Rita
La presente edición de IDEA pasa revista a algunos de los aspectos más resaltantes de la reunión del Vigésimo Aniversario del Departamento de Investigación. Más importante aún, invita a los lectores…
Apr 2014
Author(s): Armas, Adrián; Castillo, Paul; Vega, Marco
This paper provides an overview of the reserve requirement measures undertaken by the Central Bank of Peru. It provides a rationale for the use of these instruments as well as empirical evidence of…
Apr 2014
Author(s): Fernández-Arias, Eduardo; Pérez Pérez, Jorge Eduardo
Fiscal policy in Latin America has been historically imprudent and continues to be viewed with skepticism. At the same time, most countries have remained out of trouble for several years and were…
Dec 2013
Author(s): Alvaredo, Javier; Bonvecchi, Alejandro; Calvo, Ernesto; Castillo Carrillo, Maximiliano; Bonilla-Castro, Elssy; Gómez Sabaini, Juan C.
Although recent research has shed new light on the political determinants and economic consequences of tax lawmaking, existing analyses rely on coarse data measuring political aggregates.…
Sep 2013
Author(s): Valencia, Oscar; Cifuentes, Paula; Cavallo, Eduardo A.; Borensztein, Eduardo
Instruction Manual for Version 2. 0 of the IDB Debt Sustainability Template. The updated Template includes a new interface, more analytical functions, and greater flexibility for the researcher.
Sep 2013
Author(s): Valencia, Oscar; Cifuentes, Paula; Cavallo, Eduardo A.; Borensztein, Eduardo
Manual de Instrucciones de la Versión 2. 0 del Template de Sostenibilidad de Deuda del BID. El Template incluye una nueva interface, más funciones analíticas, y mayor flexibilidad para el…
Aug 2013
Author(s): Scartascini, Carlos; Ardanaz, Martín
According to an influential theoretical argument, presidential systems tend to present smaller governments because the separation between those who decide the size of the fiscal purse and those who…
May 2013
Author(s): Tamayo, Jorge Andrés; Núñez, Jairo; Medina, Carlos
This paper assesses the effects of the Colombian Unemployment Subsidy (US), which includes benefits as well as training for some recipients. Using regression discontinuity and matching differences-…
May 2013
Author(s): Caro, Lorena; Stein, Ernesto H.
This paper examines the impact of ideology on tax revenues in Latin America, using a panel of 17 countries from 1990 to 2010. As a first approach, a fixed- effects model is used to identify the…