Do sources of volatility differ by country characteristics such as the level of development, country size, quality of institutions, and presence of restrictions on fiscal policy? This paper sets out to...
This paper aims to document a set of stylized facts characterizing business cycle dynamics in smaller economies. The paper uses a large sample of countries spanning 1960-2014 to show that country size...
Panama has made significant progress in reducing poverty in recent years, progress that compares positively to that of the rest of the Latin America and Caribbean region. This report takes stock of this...
Panama has made significant progress in reducing poverty in recent years, progress that compares positively to that of the rest of the Latin America and Caribbean region. This report takes stock of this...
This study investigates the role of domestic and external shocks in business cycle fluctuations in Paraguay during 1991–2012. Time-series methods and a structural model-based approach are used to conduct...
The Dominican Republic - Central America - United States Free Trade Agreement (CAFTA-DR) has been fundamental in creating a stable framework for Costa Rica's trade with the United States. For Costa Rica...
The Dominican Republic - Central America - United States Free Trade Agreement (CAFTA-DR) has been fundamental in creating a stable framework for Costa Rica's trade with the United States. For Costa Rica...
Paraguay has achieved significant progress in terms of fiscal policy over the past decade. Despite this progress on fiscal reform, three major challenges remain: 1) a volatile macroeconomic environment;...
Paraguay has achieved significant progress in terms of fiscal policy over the past decade. Despite this progress on fiscal reform, three major challenges remain: 1) a volatile macroeconomic environment;...
The purpose of this Public Expenditure Review (PER) is to take stock of Peru's public expenditure since the last PER and identify the main challenges. The key underlying questions addressed are: (i) How...
The purpose of this Public Expenditure Review (PER) is to take stock of Peru's public expenditure since the last PER and identify the main challenges. The key underlying questions addressed are: (i) How...
Public debt has surged during the current global economic crisis and is expected to increase further. This development has raised concerns whether public debt is starting to hit levels where it might negatively...
This paper analyzes the drivers and consequences of sudden stops of capital flows. It focuses on the impact of external vulnerability on the depth and length of sudden stop crises. The authors analyze...