The European Commission’s “NextGenerationEU” COVID-19 recovery package has underscored interest in the size of regional fiscal multipliers in Europe. While the objective of these funds is the long-term...
This paper provides new evidence on the macroeconomic impact of cash transfers in developing countries. Using a Bartik-style identification strategy, the paper documents that Brazil’s Bolsa Familia transfer...
Since the Great Depression of the 1930s, and through the more recent Asian Crisis of 1997 and Great Recession of 2008/09, governments have experimented with Keynesian style fiscal stimulus to support employment...
The deep recession in many of the emerging market transition economies of Europe and Central Asia caused by the COVID-19 crisis has raised fears of long-term damage to potential output through scarring...
The development objective of COVID-19 Action Recovery and Economic Stimulus Program Project for Nigeria aims to expand access to livelihood support and food security services, and grants for poor and vulnerable...
This is a statement by Guy Ryder, Director-General, International Labour Organization, at the 102nd meeting of the Development Committee held on October 16, 2020. Workplace closures continue to disrupt...
Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global...
Government debt has risen substantially in emerging market and developing economies (EMDEs) since the global financial crisis. The current environment of low global interest rates and weak growth may appear...
The fiscal position can affect fiscal multipliers through two channels. Through the Ricardian channel, households reduce consumption in anticipation of future fiscal adjustments when fiscal stimulus is...
Global growth remains robust and is projected to reach 3.2 percent in 2018. However, it is expected to edge down in the next two years, to 2.9 percent by 2020, as global slack dissipates and investment...
This paper estimates dynamic employment multipliers in a U.S. county during 1998-2015. On average, one exogenous tradable job gain creates 1.1 jobs in the rest of the county economy in the same year, but...