Tax performance and reform in the Organization of Eastern Caribbean States (OECS)

Includes bibliography

Savings in Latin America after the mid 1990s: determinants, constraints and policies

Includes bibliography

The production of statistical data and information in the Caribbean: proposals for increasing efficiency in this sphere

Includes bibliography

Climate change in Central América: Potential impacts and public policy options

Since 2008 we have supported the collaborative initiative "Economics of Climate Change in Central America" aimed at demonstrating the impacts of climate variability and change and fostering a discussion on public policies in key sectors. The initiative has been led by the Ministries of Environment and Treasury or Finance of Central America, with the support of their ministerial councils, CCAD, COSEFIN, and Economic Integration Secretariat, SIECA. The Ministries of Agriculture and of Health, with their councils, CAC and COMISCA, have also joined the effort; and the Dominican Republic came on board in 2015.

Exchange-rate variations and the rate of inflation in emerging economies

This paper develops a structural general equilibrium model to analyse the reactions of the nominal exchange rate and the domestic price level to three types of external shock in emerging economies that have limited access to world capital markets. Although the results depend crucially on the type of external shock, each of the two national balance-sheet parameters considered here —the risk premium and the ratio of external indebtedness— exacerbates the reactions of the two endogenous variables without altering the degree of exchange-rate pass-through (erpt). Moreover, flatter Phillips curves, as observed today in many economies, tend to increase erpt. On the basis of these results, the authorities of emerging economies seeking to stabilize markets and limit erpt are advised to minimize the two risk parameters by applying a flexible inflation-targeting regime.