Introduction
Unexpected shocks may tip countries with elevated fiscal vulnerabilities into default. The literature has emphasized the role of macroeconomic and financial shocks, such as a decline of commodity prices (Reinhart et al., 2016) or banking crises (Baltenau and Erce, 2018) in shaping sovereign risk. However, other types of shocks, such as political events or natural disasters, are equally important.
2 Extreme weather events appear especially salient in light of the key role played by natural disasters in recent sovereign default episodes (i.e. Grenada 2004, and Antigua y Barbuda 2004 and 2009), the climate crisis, and the recent emphasis on incorporating natural-disaster risk as a component of macroeconomic risk management. In particular, the increase in the frequency and intensity of natural disasters, has led several economists and policy makers to advocate in favor of adopting disaster clauses that allow for a temporary debt moratorium when countries are hit by catas
Healthier women are more likely to follow age-based mammogram guidelines, leaving room for better-targeted testing
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When Parag Waknis lived in the United States, he would give friends and colleagues the same gift every year: a voucher. Often derided for their lack of originality and thoughtfulness, these much-maligned rectangles of plastic are some economists’ perfect gift: something that technically fulfills the criteria of a present while also giving the recipient the freedom to choose their own gift. “I was completely convinced that cash was the way to go,” Waknis says.
After moving to India in 2018 to become an associate professor of economics at Ambedkar University Delhi, Waknis found himself under pressure to give gifts that show how well he knows the recipient. His carefree days of doling out gift cards no matter the occasion are increasingly a thing of the past. Yet Waknis can’t shake the thought that there is a glaring economic flaw with gift giving. Sometimes, recipients just don’t like what they get.
Eric Crampton: Why banning RSE workers here won t improve wages for local agricultural workers
17 Dec, 2020 10:00 PM
7 minutes to read
Pre-Covid, some 14,000 workers could arrive to assist on New Zealand farms during the seasons when they are needed. Photo / File
Pre-Covid, some 14,000 workers could arrive to assist on New Zealand farms during the seasons when they are needed. Photo / File
NZ Herald
OPINION:
They thought banning migrant farm labour would boost wages for native-born farm workers. They were wrong. And New Zealand may be getting ready to repeat their mistake. On December 31, 1964, the United States ended the bracero agreements between the US and Mexico, after two years of tightened restrictions. The agreements, which began in 1942, regulated the movement of lower-skilled migrant labour – particularly for seasonal agricultural work. By the early 1960s, about half a million Mexican farm workers migrated to American farms for seasonal agricultu
Marco Francesconi, Robert Pollak, Domenico Tabasso
People care about their social position, their consumption practices, and their income relative to others (Duesenberry 1949, Easterlin 1974 and 1995, Blanchflower and Oswald 2004). But how well do they actually understand the income of peers in their reference groups – such as people from the same cohort, those working in the same sector or firm, living in the same city or neighbourhood, or with the same level of education – and their own position relative to their peers? How do they view the (un)fairness of inequality within these different reference groups, and to what extent do their views on the fairness of inequality depend on their own social position within these groups?
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