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on Central and South America |
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Issue of 2021‒06‒14
four papers chosen by |
| By: | Martin Besfamille (Universidad Católica de Chile); Diego Jorrat (Universidad Loyola); Osmel Manzano (Inter-American Development Bank / Georgetown University); Pablo Sanguinetti (CAR-Development Bank of Latin America) |
| Abstract: | Using the exogenous variability in intergovernmental transfers and hydrocarbon royalties, based on the fiscal regime that prevailed in Argentina from 1988 to 2003, we jointly estimate the effects that changes in these public revenues had on provincial public consumption and debt. When receiving a one-peso increase in intergovernmental transfers, provinces spent 32 centavos of each peso on public consumption and 43 on debt repayment. But when hydrocarbonproducing provinces received a one-peso increase in royalties, they used 75 centavos for debt repayment. These dissimilar reactions to revenue increases are robust to different specifications of the basic regressions. Finally, we provide two alternative explanations for them: the higher volatility of hydrocarbon royalties (relative to intergovernmental transfers) and the exhaustible nature of these revenues. |
| Keywords: | tax sharing regime, intergovernmental transfers, hydrocarbon royalties, provincial public consumption and debt, Argentina |
| JEL: | C30 H72 H77 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:aoz:wpaper:73&r= |
| By: | Luiza Nassif Pires; Luísa Cardoso; Ana Luíza Matos de Oliveira |
| Abstract: | Research Scholar Luiza Nassif-Pires, Luísa Cardoso, and Ana Luíza Matos de Oliveira analyze the importance of the "emergency benefit" (Auxílio Emergencial) in containing the increase in poverty and extreme poverty in Brazil during the COVID-19 pandemic. They find the emergency benefit mitigated the loss of income, brought the poverty rate to historically low levels, and reduced inequality: poverty gaps in terms of gender and (to a lesser degree) race narrowed in 2020. However, their simulations show that a planned reduction in transfer levels for 2021 will result in the emergency benefit providing substantially less social protection against loss of income than its more robust 2020 version. |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:lev:levypn:21-2&r= |
| By: | Nicolas Grau; Gonzalo Marivil; Jorge Rivera |
| Abstract: | We combine Chilean individual administrative data for criminal cases and labor market outcomes to estimate the effect of pretrial detention on labor outcomes using the Difference-in-differences (DiD) method and an instrumental variables (IV) approach. The IV approach takes advantage of the quasi-random assignment of judges. The IV results show that pretrial detention reduces the probability of having formal employment and the average monthly wage by 39% and 56% during the six months following the final trial verdict. DiD estimation delivers estimates that are between one-third and one-half smaller. The magnitudes of the effects shown continue to be relevant as much as 24 months after the final trial verdict. The results of our analysis suggest that the negative effect of pretrial detention is (at least) driven by the lasting effect of being excluded from the labor market during the trial, the accompanying social stigma, and the impact of pretrial detention on the probability of post-verdict incarceration. |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:udc:wpaper:wp518&r= |
| By: | Fleiss, Pablo |
| Abstract: | The COVID-19 crisis has hit Latin America and the Caribbean harder than any other developing region. In 2020 the regional GDP will experience its greatest decline in 120 years. The pandemic represents a formidable social challenge, exposing all the regions’ endemic problems. Against this backdrop, this paper analyses the Multilateral Development Banks (MDBs) response to the COVID-19 crisis and their post-pandemic role and prospects in LAC. Some basic information is presented on the major MDBs that serve the region and their main trends during the last decade to provide an adequate context. |
| Keywords: | CRISIS ECONOMICA, COVID-19, VIRUS, EPIDEMIAS, ASPECTOS ECONOMICOS, BANCOS DE DESARROLLO, MOVIMIENTOS DE CAPITAL, DEUDA, FINANCIACION DEL DESARROLLO, DESARROLLO ECONOMICO, COOPERACION INTERNACIONAL, ECONOMIC CRISIS, COVID-19, VIRUSES, EPIDEMICS, ECONOMIC ASPECTS, DEVELOPMENT BANKS, CAPITAL MOVEMENTS, DEBT, DEVELOPMENT FINANCE, ECONOMIC DEVELOPMENT, INTERNATIONAL COOPERATION |
| Date: | 2021–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col034:46916&r= |