Publications des institutions partenaires
Investment gaps in IDB borrowing countries
We estimate public investment gaps in a sample of developing countries using a public investment demand function. We then use GDP per capita projections, forecasts of structural transformation, and three SDG targets (poverty, infant mortality and lower secondary school completion) to predict public investment needs in 2030 among IDB borrowing countries. Our estimates suggest that in...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Trade re(im)balanced: the role of regional trade agreements
This paper documents the novel fact that Regional Trade Agreements (RTA) decrease bilateral trade imbalances as measured by conventional measure of the net export share in gross trade. While on average an RTA decreases bilateral trade imbalance by 7%, greater trade integration through a deeper RTA is associated with a reduction of up to 50% among the sample of over 160 countries...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Exchange rates, international trade and growth: re-evaluation of undervaluation
This paper shows that a regional bias resulting from trade integration alters the transmission of a country's monetary policy by shifting the burden of the exchange rate adjustment towards the less integrated trading partners. I first develop a simple model which illustrates how a concentration of trade flows among regional trading partners a↵ects the sensitivity of the trade balance...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Structural budget balances in oil-rich countries: the cases of Azerbaijan, Kazakhstan, and Russia
This study aims to analyse the discretionary fiscal policy of Azerbaijan, Kazakhstan, and Russia for the period 2003-2015 using the structural budget balance (SBB). The SBB considers the permanent component of oil revenue and therefore clearly defines the discretionary fiscal position and the aggregate demand effect of fiscal policy. The SBBs in Azerbaijan and Russia experience a...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 20/03/2018
Are fiscal rules helpful in mitigating the impact of oil market fluctuations?
In this paper we empirically examined the role of fiscal rules in mitigating the impact of oil market fluctuations in resource-rich economies using a structural panel VAR framework following P. Pedroni (2013) and incorporating identification scheme of Kilian (2009). Our key findings can be summarized as: l) oil exporting developing countries exhibit procyclical respond to positive...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 26/02/2018
How does environmental regulation shape economic development?: a tax competition model of China
We propose a novel theoretical framework to study how environmental regulation shapes economic development in a developing country such as China. We develop a dynamic tax competition model in which local governments, located in development zones, use variation in taxes to attract workers to their jurisdictions. Their objective is to maximize tax revenue less local health costs that...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 20/02/2018
The Advocate General's opinion in Intel: more consistent enforcement across practices and instruments
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 19/02/2018
International arbitrage and the extensive margin of trade between rich and poor countries
We incorporate consumption indivisibilities into the Krugman (1980) model and show that an importer’s per capita income becomes a primary determinant of “export zeros”. Households in the rich North (poor South) are willing to pay high (low) prices for consumer goods; hence unconstrained monopoly pricing generates arbitrage opportunities for internationally traded products. Export...
Institution partenaire
English / 01/01/2018
A dynamic North-South Model of Demand-induced Product Cycles
This paper presents a dynamic North-South general-equilibrium model where per capita incomes shape demand patterns across regions. Innovation takes place in a rich North while firms in a poor South imitate products manufactured in North. Allowing a role for per capita incomes in determining demand delivers a complete international product cycle as described by Vernon (1966), where...
Institution partenaire
English / 01/01/2018
RWebData: A High-Level Interface to the Programmable Web
The rise of the programmable web offers new opportunities for the empirically driven sciences. The access to, compilation and preparation of data from the programmable web for statistical analysis can, however, involve substantial up-front costs for the practical researcher. The R-package RWebData provides a high-level framework that allows data to be easily collected from the...
Institution partenaire
English / 01/01/2018
Volatile Top Income Shares in Switzerland? Reassessing the Evolution Between 1981 and 2010
In the last 20 years, the share of top incomes in Switzerland has risen, while
exhibiting large variations. Switzerland is similar to European countries for the top
1% but closer to the U.S. for higher top income groups. With the synthetic control
method we close a time gap in the tax data, exploiting the fact that Swiss cantons
changed their tax system at...
Institution partenaire
English / 01/12/2017
Europe Fettered: The impact of crisis-era trade distortions on exports from the European Union
Having grown in real terms by 60% between 2000 to 2008, extra-EU exports have since stagnated. Stripping out other determinants of EU export growth, the focus here is on the impact of trade distortions imposed by foreign governments since the global economic crisis began. Our econometric analysis implies that crisis-era trade distortions held back EU Member State export growth to...
Institution partenaire
English / 01/12/2017
Hostage to fortune: Local labour markets and the case for trade
Institution partenaire
English / 01/11/2017
Dyadic Value Distance: Determinants and Consequences
This paper establishes a measure of bilateral differences in values using 857 questions from the World Values Survey. We explore the determinants of value distance, linking it to geography as well as the historical relatedness of populations across 90 countries. Furthermore, we explore the explanatory power of value distance for the diffusion of technological development.
Institution partenaire
English / 27/10/2017
A note on the economics of philanthropy
This note starts with a short review of the economic literature on philanthropy. Next, it provides some estimates of philanthropic giving in advanced and middle-income economies and discusses how innovative financial instruments can leverage charitable giving. The note concludes with a discussion of the controversial aspects of philanthropic activities.
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 09/10/2017
Public good provision in Indian rural areas: the returns to collective action by microfinance groups
Self-help groups (SHGs) are the most common form of microfinance in India. We provide evidence that SHGs, composed of women only, undertake collective actions for the provision of public goods. Using a theoretical model, we show that an elected official, whose aim is to maximise re-election chances, would exert higher effort in providing public goods when private citizens undertake...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 06/10/2017
A reappraisal of state-owned banks
We revisit the public banks debate, survey the theoretical arguments and test the robustness (and expand) the existing empirical evidence. While we find some support for the view that public banks do not allocate credit optimally, we also report indicative evidence that they exert a positive influence on private bank efficiency, and may contribute to reduce credit procyclicality....
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 03/10/2017
Investor Attention and Sentiment: Risk or Anomaly?
Are stocks' varying sensitivies to changing investor attention and sentiment priced? Employing internet search-based proxies for both, I find novel results that are consistent with theory. Stocks that co-vary negatively with increased investor attention to the stock market outperform in the following months in a behavior consistent with a risk premium. The pricing of co-...
Institution partenaire
English / 01/07/2017
Will Awe Trump Rules? The 21st GTA Report
Not since the London Summit of in April 2009 has protectionism had such a high profile in the run-up to a G20 Leader’s Summit. President Trump’s America First policies have drawn sharp criticism from leaders of other G20 governments. Accusations and counter-accusations of unfair trading practices have become a regular occurrence. So as to shed light on competing claims, this Global...
Institution partenaire
English / 01/07/2017
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