The EU Services Directive was adopted in 2006 to foster competition in services across
Europe. However, progress in liberalizing services has fallen short of expectations due to the …

This paper analyzes the potential for fintech to facilitate cheaper and more efficient
remittances, and to enhance financial inclusion in Central America. Digital remittances remain …

Real unit labor costs (RULC) growth differentials between euro area members have persisted
since EMU began and even widened out in the run-up to the crisis. This paper focuses on …

The paper presents a simple supply side, general equilibrium model to estimate the
macroeconomic effects of labor tax cuts. The model assumes that output is produced using capital, …

This paper develops comparable financial conditions indices (FCIs) for the six large and most
financially-integrated Latin American economies (LA6) by following Korobilis (2013) and …

Should fiscal consolidations be front-loaded or proceed at a more steady pace, and how
does this affect growth? We make an attempt to address this question using a three-step …

The need to revive Euro area growth highlights the importance of the evolution of domestic
and external demand in the core. This paper puts recent demand patterns in France, Germany…

Raising living standards continues to be the main challenge facing Guatemala, as a matter of
economic success and social cohesion. This paper discusses the spending, financing, and …

This paper investigates the asymmetries in trade spillovers from sector-specific technology
shocks in China to selected euro area countries. We use a Ricardian-gravity trade model to …

This paper examines inflation dynamics in Chile during the last peso depreciation episode
2013-15. The evidence is for substantial pass-through effects to inflation, given the large and …