ABSTRACT We demonstrate that capital controls can considerably mitigate the effects of monetary and exchange rate shocks and reduce the volatility of capital inflows to emerging countries. This study analyzed quarterly data of 32 emerging economies over the period between 2000 and 2019, and proposes two methods to identify capital control actions. Using panel analysis, Autoregressive Distributed Lag

ABSTRACT This paper investigates the effects of government debt and deficits on long-term interest rates in 17 advanced economies over the period 1973–2016 from the perspective of currency sovereignty. The empirical findings of this paper suggest the market penalizes non-sovereign nations for the same amount of fiscal deficit with higher interest rates than sovereigns. In addition, non-sovereign countries

ABSTRACT We use a micro price dataset for products defined at the universal product code level to analyze the impact on prices of a social program in Uruguay that allows its beneficiaries to purchase food, beverages, and cleaning items exclusively in certain small retailers. We find that an unintended negative consequence is that the beneficiaries pay significantly higher prices to other retailers

ABSTRACT The paper analyzes the determinants of social outreach of microfinance institutions (MFIs), using three measures of outreach – depth of outreach, breadth of outreach, and outreach to women, and its possible complementarity with financial performance. We use an unbalanced panel of 1,219 MFIs over a period of 20 years to investigate the effect of firm-specific characteristics and the impact

ABSTRACT This paper analyzes the efficacy and skepticism surrounding the economic stimulus package announced by the Indian authorities in response to the Covid-19 pandemic in 2020. While the end of the pandemic is yet to be on the horizon, countries across the world have been undertaking economic stimulus packages of varied nature, depth, and quantum. A scrutiny of these packages show that India has

ABSTRACT This paper presents a chronological survey of the 20 academic papers that Malcolm authored or co-authored between 1997 and 2017 on the flawed design – and hence flawed implementation – of the European Monetary Union (EMU)’s macroeconomic policy pillars. We augment his analyses by pointing out a third – complementary – design flaw: the EMU’s two-tiered structure of financial regulation and

ABSTRACT This article forges connections between social choice theory and inequality-measurement to deliver a series of advances to the latter. It discusses the ethical and formal aspects connecting the fields, linking the roles played by the intensity of preferences and interpersonal comparability (in social choice) and, respectively, inequality-aversion and interpersonal comparability (in inequality-measurement)

ABSTRACT This paper discusses the Brazilian economy since 2015. After an economic boom from 2005 to 2011, Brazil entered a downturn, which resulted in a strong recession in 2015 and 2016. The Economic Authorities understood that the cause of the crisis was due to an expansionary economic policy undertaken over the period 2009–2014; thereby the solution for the recession would be quite the opposite:

ABSTRACT Five sectors have increased their contribution to US GDP growth since 1973: professional-business services (PBS), finance, information, healthcare, and arts-entertainment. Among these, however, finance, healthcare, and PBS have questionable foundations for being regarded as final consumption of households. Contra published National Income and Product Accounts, treating expenditures on finance

ABSTRACT South Africa has a very well-developed financial sector and high reliance on capital flows. The country saw large capital outflows as the Covid-19 crisis developed, accompanied by a large depreciation of the rand and spikes in bold yields. We employ a stock- and flow-consistent model to study the impact of capital flow reversal shocks on the South African economy. The model includes a richer

ABSTRACT The demand for civil justice in Germany has shrunk over the last decades, although we can observe a high level of heterogeneity, with increasing and decreasing trends depending on specific case matters. The present work investigates this phenomenon, analyzing the aggregate demand for civil justice between 2008 and 2017 at the regional level, and focusing on the courts. We study the propensity

ABSTRACT A global health and economic crisis was created by the spread of Covid-19 across the world during the course of 2020 and into 2021. This Special Issue of the International Review of Applied Economics brings together papers analysing various aspects of this twin crisis. The crisis led to massive intervention by governments, both to tackle the health crisis - through lock-downs; social distancing

ABSTRACT In this note, we show that the stock markets do not always incorporate all the available information because in many cases they slowly evaluate the news. Using simple statistical analysis, we show that the response of the markets to the available information in certain time periods is irrational and inefficient. The COVID-19 outbreak gives financial economists an example of health risk underestimation

ABSTRACT In this study, we examine the efficiency of the US stock markets during the COVID-19 outbreak using a fundamental financial analysis approach, the constant growth model and a behavioral model including a Google-based Index. We juxtapose the released news and the performance of the US stock market during the COVID-19 outbreak and we show that during some periods the health risk was significantly

ABSTRACT The crisis caused by COVID-19 differs from previously crises due to its particularities. Many countries have been affected by the pandemic, although not all have acted in the same way or imposed the same level of restrictions. This paper analyses the virus containment measures carried out by some of the European countries most affected by the pandemic. It concludes that those that acted early

ABSTRACT This paper examines whether the impact of COVID-19 at the household level is an obstacle to achieving the sustainable development goals of no poverty (SDG1), zero hunger (SDG2), good health and wellbeing (SDG3) and decent work and economic growth (SDG8). We limit our investigation to farm households given their precarious situation. We analyse data from the World Bank National Longitudinal

ABSTRACT This paper analyses a broad range of macro variables to assess the effects they have on the number of cases and deaths due to COVID-19. We consider 23 explanatory variables on health, political, and economic factors for 94 countries. Given the vast number of explanatory variables analysed, the paper employs advanced statistical tools for the analysis. We use regularised regression and dimension

ABSTRACT This paper explores the design and impact on public finances of a global investment plan directed at supporting post-COVID19 reconstruction efforts by investing in climate change mitigation. We analyse current macroeconomic conditions in both developed and emerging economies and, subsequently, simulate various growth scenarios and observe the impact on public debt sustainability of implementing

ABSTRACT Under the impossible trinity, it is alleged that attempts to maintain both monetary independence and an undervalued domestic exchange rate whilst being exposed to global capital flows will culminate in macroeconomic instability. To analyse the validity of the impossible trinity in the instance of a balance of payments surplus, we first employ a number of ARDL models to investigate the potential

ABSTRACT This study examines the correlation of economic policy uncertainty (EPU) across countries and regions. Using correlation analysis, the findings reveal that some countries have a positive EPU correlation while other countries have a negative EPU correlation. The economic policy uncertainty index is positively correlated and jointly significant for EU member-countries. There is evidence of cross-regional

ABSTRACT This paper has a main ambition. It evaluates the impact of immigration on GDP per worker for ten European countries in order to fill the gap with numerous studies focusing on variables other than growth (wages, unemployment, innovation or public finances). We show that there is no obvious relationship between growth and immigration for a majority of economies. It is only when we allow for

ABSTRACT COVID-19 outbreak has resulted in the largest number of lockdowns worldwide in history. While lockdowns may reduce the spread of COVID-19, the downside costs of this approach could be dreadful. By exploiting the differential timing of lockdown implementation across the United States within a difference-in-differences framework, we find that the pandemic lockdowns are associated with a variety

ABSTRACT In this article, we study the relationship between income distribution and financialization in the United States between 1947 and 2013. Financialization is introduced as a two-fold process. On the one hand, it implies an increase in the contribution of the financial sector in the composition of production. On the other hand, it is related to an increase in the importance of financial assets

ABSTRACT This paper presents a study on 80 countries that evaluates the socioeconomic factors in containing the spread and mortality of COVID-19. Our results show that the long-term social factors such as lower personal freedom, better education in science, and past coronavirus outbreak experience are more effective than the economic factors such as higher healthcare-associated factors per 1000 population

ABSTRACT This analysis of balance-of-payments-constrained growth according to Thirlwall’s law shows that Kenya’s growth has been balance-of-payments-constrained in the long term. The basic version of the law does not fit the data since actual growth was above the rate suggested by a balanced trade account. However, the extended version is confirmed because of a partial improvement of Kenya’s terms

ABSTRACT With the significant changes in the economy and the society occurring under neo-liberalism as a base, this paper analyzes the extent to which government policies, including federal, state, and local, and labor activism since the Great Recession constitute challenges to neo-liberalism in the United States. It investigates the legacy of neo-liberalism including the ineffective federal governmental

(2021). Understanding the economy at the micro and macro levels. International Review of Applied Economics: Vol. 35, No. 1, pp. 1-2.

ABSTRACT In a post-Keynesian growth model with positive saving propensity out of wages, this paper analyses the implication of different kinds of government expenditures on aggregate demand and economic growth. We distinguish between government expenditure on consumption and investment. The basic idea is that certain kinds of government investment expenditure influences labour productivity. In a formal

ABSTRACT Studies on the causal relationships among foreign direct investment (FDI), economic growth and financial sector development are far from being conclusive, a reflection of the different methodologies and country-settings employed. In this study, we depart from the use of single country cases to relying on a panel data comprising 45 African countries over the period 1980 to 2016 in examining

ABSTRACT We test the hypothesis that public banks reduce monetary policy power. Previous studies have shown that companies with access to government-driven credit present smaller fall in investment and production after a contractionary monetary policy shock. Nevertheless, these studies are based on microeconomic data and ignore macroeconomic effects, especially the cost-push effects, of monetary policy

ABSTRACT This paper makes an attempt to fill some of the gaps present in the literature related to various modes of transport in India. It presents a comparative cost study of rail and Inland Water Transport (IWT) in the Indian context. The case of railway transport is based on the existing construction and operation norms of Indian Railways. In contrast, IWT cost parameters are based on discussions

ABSTRACT This study contributes to the literature on the evaluation of the effects of the stable and competitive real exchange rate management (SCRER) on economic growth by studying the exporting performance of the tradable sector in Kazakhstan between 2009 and 2019. We also aim to capture the impact of a significant change in the behavior of the exchange rate in August of 2015, following the introduction

ABSTRACT The paper discusses the nature of the present era of financialisation, outlining the changes in the financial sector and its relations with the real sector which are particularly relevant for the climate emergency. The relationship between growth of the financial sector (‘financial development’) and economic growth is reviewed, and the relevant of recent empirical findings for the