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Distorsions, resource al location and productivity in Latin America
(CAF, 2012)
We develop a span-of-control model where managerial skills are endogenous and the outcome of investments over the life cycle of managers. We calibrate such model to U.S. data, and use it to evaluate the interplay between ...
Patrones de desarrollo en América Latina: ¿convergencia o caída en la trampa del ingreso medio?
(CAF, 2012)
América Latina cuenta con el mayor número de países de ingreso medio del mundo, sin embargo, durante la mayor parte del siglo XX las tasas de crecimiento per cápita de los países de la región fueron inferiores a aquellas ...
Reciprocity and willingness to pay taxes: evidence from a survey experiment in Latin America
(CAF, 2012)
We provide the first experimental attempt at measuring reciprocity in tax collection in developing countries, where enforcement institutions are weak, and where tax rates and in general tax observance is lower. In a household ...
Business Cycles in Emerging Markets: the Role of Durable Goods and Financial Frictions
(CAF, 2012)
There is a growing literature studying business cycles in emerging economies. This paper contributes to this literature by examining how durable goods and financial frictions shape cyclical fluctuations in a small open ...
Can a Mining Windfall Improve Welfare? Evidence from Peru with Municipal Level Data
(CAF, 2012)
In this paper we investigate whether fiscal performance is affected by the presence of natural resource revenues. We compare policy outcomes from mineral-abundant municipalities and non mineral-abundant municipalities in ...
Financial Frictions, Occupational Choice and Economic Inequality
(CAF, 2012-12-10)
We develop a quantitative theory of entrepreneurship, income inequality, and financial frictions disciplined with household data from Brazil. The theory extends Lucas (1978) by modeling heterogeneity in two skills: -working ...