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Learning from Failure: A Review of Peter Schuck’s Why Government Fails So Often: And How It Can Do Better by David M. Levy and Sandra J. Peart published by Journal of Economic Literature (2015). Peter Schuck catalogs an overwhelming list of US government failures. He points to both structural problems (culture and institutions) and incentives. Despairing of cultural change, Schuck …
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Tax Coordination Can Lead to a Fairer, Greener Global Economy by Vitor Gaspar, Shafik Hebous, Paolo Mauro publicado por IMFBlog (4/2022). “Technology, globalization, and global warming have changed the world, and taxation must keep pace. With a mouse click, individuals can move money across borders and corporations can transact with their affiliates across global supply chains. Production depends on intangible know-how assets that …
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Brazil: Covid-19 and the road to recovery by Fernanda Nechio and Bruno Serra Fernandes published by BIS (2/2021) Worldwide, fiscal and monetary authorities responded with unprecedented measures to the Covid-19 crisis, providing lifelines to households and firms, as well as safeguarding the functioning of credit and financial markets. The Central Bank of Brazil lowered its policy rate to a record …
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The monetary-fiscal policy nexus in the wake of the pandemic by Konstantinos Tsatsaronis, Michael Chui, Tirupam Goel, Aaron Mehrotra published by BIS (3/2022). The papers in this volume were prepared for a meeting of senior officials from central banks held at the Bank for International Settlements on 24-25 February 2021. The Covid-19 pandemic cast the interaction between fiscal and monetary …
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The Coming U.S. Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters? by Carlos Arteta, M. Ayhan Kose, Franziska Ohnsorge, and Marc Stocker published by World Bank Group (2015). "Context: a long-anticipated event, but still with substantial risks. Since the global financial crisis, the exceptionally accommodative monetary policy stance of the U.S. Federal Reserve (Fed) has helped support activity, bolstered …
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Improving Public Investment Efficiency in the G-20 published by IMF (9/2015). Through the provision of both social and economic infrastructure, public investment can serve as an important catalyst for economic growth. A significant body of theoretical and empirical research underscores the positive relationship between investment in high-quality public infrastructure and economy-wide productivity.1 Against the background of a steady decline in …
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Trade barrier reduction is the most important anti-inflation competition policy by Lawrence H. Summers published by PIIE (4/2022). "The Peterson Institute has again produced a very important study making a powerful, analytical, and statistical point with respect to a crucial public policy issue. This study reinforces my conviction that trade barrier reduction can while supporting consumer incomes and economic growth …
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Repensando a Pensão por Morte no Brasil: evidências nacionais e notas comparativas com a América Latina por Rogério Nagamine Costanzi e Graziela Ansiliero publicado por Revista de Políticas Públicas e Gestão Governamental (12/2015). “Entre as transformações estruturais pelas quais tem passado a América Latina, ao menos duas delas têm importantes implicações para a Seguridade Social: o rápido envelhecimento populacional, com …
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Cheap Oil and Global Growth by Anatole Kaletsky published by Project Syndicate (8/2015). "The standard explanation is weak Chinese demand, with the oil-price collapse widely regarded as a portent of recession, either in China or for the entire global economy. But this is almost certainly wrong: On all recent occasions when the oil price was halved, faster global growth followed. …
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Uncertain Times by José Antonio Ocampo published by IMF (9/2015). "After a decade of social and economic progress, Latin America is facing challenging issues Not long ago, Latin America was a success story of economic growth. While advanced economies suffered a severe recession during the 2008–09 financial crisis in the United States and western Europe, followed by a weak recovery, …
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