How Much is A Lot? Historical Evidence on the Size of Fiscal Adjustments by Julio Escolano, Laura Jaramillo, Carlos Mulas-Granados, and Gilbert Terrier published by IMF, indicated by Teresa Ter-Minassian (9/2014). The sizeable fiscal consolidation required to stabilize the…
Sovereign Credit Ratings and Spreads in Emerging Markets: Does Investment Grade Matter? by Laura Jaramillo, Michelle Michelle Tejada published by IMF (3/2011). Sovereign investment grade status is often associated with lower spreads in international markets. Using a panel framework for…
Bringing down high debt by Vitor Gaspar and Laura Jaramillo published by IMF (4/2018). “Global debt hit a new record high of $ 164 trillion in 2016, the equivalent of 225 percent of global GDP. Both private and public…
Political institutions, state building, and tax capacity: crossing the tipping point by Vitor Gaspar, Laura Jaramillo and Mr. Philippe Wingender published by IMF (12/2016). “…We discuss the political conditions that supported tax capacity building, highlighting three important political ingredients:…
Tax capacity and growth: Is there a tipping point? by Vitor Gaspar, Laura Jaramillo and Mr. Philippe Wingender published by IMF (12/2016). “Is there a minimum tax to GDP ratio associated with a significant acceleration in the process of growth…
