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The impact of the minimum wage on the destruction and creation of products
(CAF, 2017-12-06)
We study the impact of changes in the legal minimum wage on the creation and destruction of products at the firm level. This can be a relevant way for increasing firm productivity and for explaining why the raises in the ...
Public expenditures and debt at the subnational level: Evidence of fiscal smoothing from Argentina
(CAF, 2017-01-30)
This paper uses the particular features of the tax-sharing regime Coparticipación Federal de Impuestos and the fact that some provinces earn hydrocarbon royalties to investigate public expenditures and debt at the subnational ...
Are Taxes Credits Effective in Developing Countries? The Recent Uruguayan Experience
(CAF, 2017-05-17)
Investment promotion through tax incentives has been a key component of the growth strategies pursued in Uruguay by the last three administrations. A new regime was established, regulated by the Executive Decree 455, which ...
Public financial support and innovation in Colombian manufacturing firms
(CAF, 2017-05-30)
We evaluate the impact of public financial support, both subsidies and credit, on different types of innovation in Colombian industry. We compare it with the effects of financing innovation with own resources and with ...