Tax Equity in Low- and Middle-Income Countries
Income inequality is high and persistent in developing countries. In this paper, we ask what role taxation can or might play in reducing inequality in low and middle-income countries.
Research
Help for the Heartland? The Employment and Electoral Effects of the Trump Tariffs in the United States
We study the economic and political consequences of the 2018-2019 trade war between the United States, China and other US trade partners at the detailed geographic level, exploiting measures of local
Cost of Exempting Sole Orphan Drugs From Medicare Negotiation
Importance: The Inflation Reduction Act (IRA) requires Medicare to negotiate prices for some high-spending drugs but exempts drugs approved solely for the treatment of a single rare disease. Objectiv
High and Rising US Federal Debt: Causes and Implications
The outlook for federal debt represents a significant economic challenge for the United States.
Community influence on microfinance loan defaults under crisis conditions: Evidence from Indian demonetization
Research Summary The microfinance “group lending” approach has achieved widespread success in promoting high rates of repayment, and thus the viability of financial access, in very low-income environm
Informality, Consumption Taxes, and Redistribution
Can taxes on consumption redistribute in developing countries? Contrary to consensus, we show that taxing consumption is progressive once we account for informal consumption.
Globalization and Factor Income Taxation
Exploiting a new global macro-historical database of effective tax rates, we uncover an intriguing pro-tax-capacity effect of international trade.
Great Dilution: The Global Impact of the US Inflation Shock on Sovereign Debt
Decades of low inflation led to widespread use of dollar-denominated financial instruments with fixed interest rates and long maturities.
Dollar Rivals
Written for a PIIE conference on the 50th anniversary of floating exchange rates, this paper deals with possible alternatives to a unipolar dollar-based system.
Debt Distress on China's Belt and Road
This paper shows that China's lending boom to developing country sovereigns has largely ended and that debt distress and defaults are increasingly common.
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