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This paper examines how the the distributive impact of macroeconomic shocks is shaped by selected institutions. It uses a dynamic stochastic general equilibrium (DSGE) framework with heterogeneous agents and an endogenous collateral constraint.
This paper addresses the often neglected question of how macroeconomic risk is shared across and within economies, and identifies reforms that could contribute towards achieving more desirable risk-sharing outcomes.
Apparent characteristics of the Hungarian banking market such as large profits and high margins suggest weak competitive pressures. Weak competition in turn, may reduce efficiency in a lack of pressures to converge to marginal cost and to stimulate managerial efforts to reduce X-inefficiency.
English, , 354kb
Global current account imbalances widened markedly in the years preceding the global economic crisis.
The estimated medium-term impact of Basel III implementation on GDP growth is in the range of -0.05 to -0.15 percentage point per annum.
Closing the income gap with the OECD and enhancing distribution of growth requires reforms in many fronts. Better functioning labour and product markets and investment in skills and infrastructure would boost productivity, while well-designed social and education policies can reduce inequalities
The extent of competition in product markets is an important determinant of economic growth in both developed and developing countries.
This paper provides a broad overview of policy goals and instruments and commonly used performance and policy indicators related to land transport.
In the 2000s, Turkey has enjoyed rapid catching–up. This was possible despite the adverse business environment, as the semi–formal and informal economy had a significant contribution to the expansion of the private sector.
In his remarks to "Making Reform Happen", Angel Gurría said that "well-designed and well-implemented reforms yield a triple dividend. They lift output and employment; they strengthen public budgets and they rebalance global demand."