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Optimal age-dependent taxation in emerging markets: A quantitative assessment
(CAF, 2019-12-29)
This paper studies the design and welfare implications of an optimal age-dependent taxation scheme for an emerging economy. The setting is an overlapping generations economy with uninsured productivity risk, partially ...
Financial Frictions, Trade, and Misallocation
(CAF, 2017-10-07)
We investigate the extent to which financial frictions shape the aggregate effects of a trade liberalization through their impact on aggregate total factor productivity (TFP) and capital misallocation. We study a small ...
Impact evaluation of innovation policy in Brazil
(2018-10-22)
This paper aims to assess the innovation policy in Brazil after the edition of the innovation law, in 2004, and the fiscal subsidies to innovation law, in 2005. We use data from the Brazilian Innovation Survey and from the ...
Human Capital and Financial Development: Firm-Level Interactions and Macroeconomic Implications
(CAF, 2019-12-04)
Capital-skill complementarity in production implies non-trivial interactions between availability of human capital and financial constraints. Firms that are constrained in their access to finance hire a lower proportion ...
Savings Groups Reduce Vulberability but have Mixed Effect on Financial Inclusion
(CAF, 2021-01-08)
This paper evaluates the impact of the introduction of savings groups on poverty, vulnerability, and financial inclusion outcomes in rural Peru. Using a cluster randomized control trial and relying on both survey and ...
Asymmetric Effects of Trade and FDI: The Role of Country Size and Bridge Multinational Production
(2022-12-13)
Total gains from openness come through three channels: (i) trade, (ii) domestic multinational production (DMP), and (iii) bridge multinational production (BMP). We develop a quantitative theory to measure the effects of ...
Opportunistic behavior and discrimination in the Mexican Solar PV market: An audit experiment
(CAF- banco de desarrollo de América Latina y el Caribe, 2023-12-14)
We conducted an audit experiment in which fictional households requested quotes for the purchase, installation, and interconnection of solar photovoltaic systems in four cities across Mexico. This allowed us to identify ...