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Optimal Cooperative Taxation in the Global Economy
(The University of Chicago Press, 2023)
How should countries cooperate in setting fiscal and trade policies when government expenditures must be financed with distorting taxes? We show that even if countries cannot make explicit transfers to each other, every ...
Variable elimination, graph reduction and the efficient g-formula
(BiometrikaOxford University Press, 2023)
We study efficient estimation of an interventional mean associated with a point exposure treatment under a causal graphical model represented by a directed acyclic graph without hidden variables. Under such a model, a ...
External Shocks versus Domestic Policies in Emerging Markets
(Federal Reserve Bank of Saint Louis, 2023)
Debt crises in emerging markets have been linked to large fiscal deficits, high inflation rates, and large devaluations.
This article studies a sovereign default model with domestic fiscal and monetary policies to understand ...
El impacto de los programas de crédito para la reactivación del tejido productivo y el empleo tras la pandemia: el caso de Argentina
(Banco Interamericano de Desarrollo, 2023)
This technical paper seeks to narrow the knowledge gap concerning the impacts of financing and provision of credit to accelerate recovery and adjustments in the wake of a crisis. Due to the lack of data in developing ...
Default and interest rate shocks: Renegotiation matters
(Universidad Torcuato Di TellaRutgers University, Department of EconomicsUniversity of Minnesota, 2023)
We develop a sovereign default model with endogenous re-entry to financial markets via
debt renegotiation. We use this model to evaluate how shocks to risk-free interest rates trigger
default episodes through two channels: ...