Credit Supply in Venezuela:A Non-Conventional Bank Lending Channel?

Chirinos-Leañez, Ana María; Pagliacci, Carolina

Working Papers - English - Apr, 2017

This paper evaluates whether fiscal and foreign exchange policy shocks can explain both credit and credit supply in Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit growth is linked to the buildup of banks’ deposits caused by th...

Financial Conditions and Monetary Policy in Uruguay:An MS-VAR Approach

Bucacos, Elizabeth

Working Papers - English - Apr, 2017

This study analyzes the effects of “financial stress” on the Uruguayan macroeconomy in the 1998Q3-2016Q2 period with the underlying idea that financial shocks propagate differently during “normal times” than during times of “stress.” This behavior is capture...

Inequality, Crime, and the Long-Run Legacy of Slavery

Vargas, Juan F.; Buonanno, Paolo

Working Papers - English - Apr, 2017

Estimating the effect of inequality on crime is challenging due to reverse causality and omitted variable bias. This paper addresses these concerns by exploiting the fact that, as suggested by recent scholarly research, the legacy of slavery is largely mani...

Do Rewards Work? Evidence from the Randomization of Public Works

Scartascini, Carlos; Castro, Edgar; Carrillo, Paul

Working Papers - English - Apr, 2017

This paper evaluates the effect of positive inducements on tax behavior by exploiting a natural experiment in which a municipality of Argentina randomly selected 400 individuals among more than 72,000 taxpayers who had complied with payment of their propert...

Time Use and Skills Development in Latin American Households

Berniell, Inés; Allub, Lian

Working Papers - English - Apr, 2017

Using several sources of micro level data for Latin America and the Caribbean, this paper documents an important positive socio-economic gradient on parental and individual time investments in activities related to developing children’s skills. Higher-educa...

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