Monetary Policy in Emerging Markets: A Survey
The characteristics that distinguish most developing countries, compared to large industrialized countries, include: greater exposure to supply shocks in general and trade volatility in particular, pr
Research
Bias-Corrected Matching Estimators for Average Treatment Effects
In Abadie and Imbens (2006), it was shown that simple nearest-neighbor matching estimators include a conditional bias term that converges to zero at a rate that may be slower than N1/2.
Over-optimism in Forecasts by Official Budget Agencies and its Implications
The paper studies forecasts of real growth rates and budget balances made by official government agencies among 33 countries.
Consumer Financial Protection
The recent financial crisis has led many to question how well businesses deliver services and how well regulatory institutions address problems in consumer financial markets.
Reforming Public Financial Management in Africa
Successful public sector reform is rare in Africa.
It Looks Like the End of the Eurozone
When Greece was bailed out by a joint eurozone-IMF rescue package back in May, it was clear that the deal had bought only a temporary respite. Now the other shoe has dropped.
A Perplexed Economist Confronts 'Too Big to Fail'
This paper examines premises and data underlying the assertion that some financial institutions in the U.S. economy were "too big to fail" and hence warranted government bailout.
Evaluation of Jamaica's PATH Conditional Cash Transfer Programme
This paper summarises the findings of an evaluation of the Programme of Advancement through Health and Education (PATH), a conditional cash transfer programme implemented by the Government of Jamaica.
Tax Incentives for Affordable Housing: The Low Income Housing Tax Credit
The Low Income Housing Tax Credit (LIHTC) represents a novel tax expenditure program that employs “investable” tax credits to spur production of low-income rental housing.
The Regulation of Consumer Financial Products: An Introductory Essay with a Case Study on Payday Lending
The recent collapse of the mortgage market revealed fractures in the credit market that have deep roots in the system's structure, conduct, and regulation.
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