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Macroeconomic and fiscal implications of population aging in Bulgaria (English)

Bulgaria is in the midst of a serious demographic transition that will shrink its population at one of the highest rates in the world within the next few decades. ... See More +

Policy Research Working Paper WPS6774 FEB 01, 2014

Onder, Harun; Pestieau, Pierre; Ley, Eduardo Disclosed

Real-time macro monitoring and fiscal policy (English)

This paper considers the effects of inaccurate real-time output data on fiscal management, both with respect to budgetary planning and fiscal surveillance. ... See More +

Policy Research Working Paper WPS6303 JAN 01, 2013

Ley, Eduardo; Misch, Florian Disclosed

Quality of government and living standards (English)

It is generally acknowledged that a government's output is difficult to define and its value is hard to measure. The practical solution adopted by national accounts systems is to equate output value to input costs, but well-documented inefficiencies in government activities make this approximation questionable. ... See More +

Brief 72719 SEP 01, 2012

Grigoli, Francesco; Ley, Eduardo Disclosed

Green prices (English)

"Getting the prices right" is a good starting point but is not sufficient for achieving environmentally efficient outcomes. Other policy interventions are often necessary to complement pricing policies. ... See More +

Policy Research Working Paper WPS6131 JUL 01, 2012

Tran, Ngoc Bich; Ley, Eduardo Disclosed

Mixtures of g-priors for Bayesian Model Averaging with economic application (English)

This paper examines the issue of variable selection in linear regression modeling, where there is a potentially large amount of possible covariates and economic theory offers insufficient guidance on how to select the appropriate subset. ... See More +

Policy Research Working Paper WPS5732 JUL 01, 2011

Ley, Eduardo; Steel, Mark F.J. Disclosed

Measuring national income and growth in resource-rich, income-poor countries (English)

In the decade leading to the recent commodity boom, which peaked in 2007-08, several resource-rich, low-income countries displayed high rates of gross domestic product (GDP) growth while social indicators did not improve significantly. ... See More +

Brief 56297 AUG 01, 2010

Hamilton, Kirk; Ley, Eduardo Disclosed

Measuring national income and growth in resource-rich, income-poor countries (English)

In the decade leading to the recent commodity boom, which peaked in 2007-08, several resource-rich, low-income countries displayed high rates of gross domestic product (GDP) growth while social indicators did not improve significantly. ... See More +

Brief 56670 AUG 01, 2010

Hamilton, Kirk; Ley, Eduardo Disclosed

What is the role of carbon taxes in climate change mitigation? (English)

This note argues that a carbon tax system is more practical to implement, monitor, and enforce than tradable permit-based approaches to global climate-change action. ... See More +

Brief 45120 APR 01, 2010

Aldy, Joseph; Ley, Eduardo; Parry, Ian Disclosed

The taxation of motor fuel : international comparison (English)

This paper assesses whether the level of taxation of motor fuel is broadly appropriate in a group of countries (OECD, BRICs and South Africa) accounting for more than 80 percent of world greenhouse gas emissions. ... See More +

Policy Research Working Paper WPS5212 FEB 01, 2010

Ley, Eduardo; Boccardo, Jessica Disclosed

Fiscal policy for growth (English)

While the term 'fiscal space' is new, the issue is quite old. Fiscal space refers to availability of budgetary resources for a specific purpose, typically growth-enhancing investment uses, without jeopardizing the sustainability of the government's financial position, or the stability of the economy. ... See More +

Brief 48376 APR 01, 2009

Ley, Eduardo Disclosed

A tax–based approach to slowing global climate change (English)

This paper discusses the design of CO2 taxes at the domestic and international level and the choice of taxes versus cap and trade. There is a strong case for taxes on uncertainty, fiscal, and distributional grounds, though this critically hinges on policy specifics and how revenues are used. ... See More +

Working Paper 111587 SEP 01, 2008

Aldy, Joseph E.; Ley,Eduardo; Parry,Ian W.H. Disclosed

Refinements to the probabilistic approach to fiscal sustainability analysis (English)

This paper relaxes some key assumptions in the probabilistic approach to fiscal sustainability. First, the authors identify structural breaks over the sample period used to estimate the covariance matrix of the shocks to the debt ratios. ... See More +

Policy Research Working Paper WPS4709 SEP 01, 2008

Frank, Nathaniel; Ley, Eduardo Disclosed

A tax-based approach to slowing global climate change (English)

This paper begins by comparing CO2 taxes and emissions trading from a domestic perspective across a broad range of criteria of potential concern to policy makers. ... See More +

Working Paper (Numbered Series) 45125 AUG 01, 2008

Aldy, Joseph E.; Ley, Eduardo; Parry, Ian; Disclosed

Fiscal policy for growth (English)

This brief discusses some implications of the recent Development Committee (DC) communique that entrusted the Bank with the development and operationalization of growth-oriented, country-specific approaches to fiscal policy design (DC communique of April 15, 2007). ... See More +

Brief 40622 MAR 29, 2008

Ley, Eduardo Disclosed

Cost-benefit analysis : evaluation criteria (English)

While only measures properly reflecting net societal benefits should be used to rank policies, several other measures also attempting to summarize the value of net flows are often presented -- i.e., the benefit-cost ratio, the overall rate of return, and the internal rate of return. ... See More +

Brief 40619 DEC 04, 2007

Eduardo Ley Disclosed

On the effect of prior assumptions in Bayesian model averaging with applications to growth regression (English)

This paper examines the problem of variable selection in linear regression models. Bayesian model averaging has become an important tool in empirical settings with large numbers of potential regressors and relatively limited numbers of observations. ... See More +

Policy Research Working Paper WPS4238 JUN 01, 2007

Ley, Eduardo; Steel, Mark F. J. Disclosed

Chile : appraisal of public investment (English)

Chile has managed to promote economic growth and keep discipline in its public finances through the unrelenting and disciplined use of transparent cost-benefit analysis for all public investment projects. ... See More +

Brief 40618 DEC 04, 2006

Eduardo Ley Disclosed

Jointness in Bayesian variable selection with applications to growth regression (English)

The authors present a measure of jointness to explore dependence among regressors in the context of Bayesian model selection. The jointness measure they propose equals the posterior odds ratio between those models that include a set of variables and the models that only include proper subsets. ... See More +

Policy Research Working Paper WPS4063 NOV 01, 2006

Ley, Eduardo; Steel, Mark F. J. Disclosed

Title Document Date Report No. Document Type Also available in
Macroeconomic and fiscal implications of population aging in Bulgaria (English)
See More +
FEB 01, 2014 WPS6774 Policy Research Working Paper
Real-time macro monitoring and fiscal policy (English)
See More +
JAN 01, 2013 WPS6303 Policy Research Working Paper
Quality of government and living standards (English)
See More +
SEP 01, 2012 72719 Brief
Green prices (English)
See More +
JUL 01, 2012 WPS6131 Policy Research Working Paper
Mixtures of g-priors for Bayesian Model Averaging with economic application (English)
See More +
JUL 01, 2011 WPS5732 Policy Research Working Paper
Measuring national income and growth in resource-rich, income-poor countries (English)
See More +
AUG 01, 2010 56297 Brief
Measuring national income and growth in resource-rich, income-poor countries (English)
See More +
AUG 01, 2010 56670 Brief
What is the role of carbon taxes in climate change mitigation? (English)
See More +
APR 01, 2010 45120 Brief
The taxation of motor fuel : international comparison (English)
See More +
FEB 01, 2010 WPS5212 Policy Research Working Paper
Fiscal policy for growth (English)
See More +
APR 01, 2009 48376 Brief
A tax–based approach to slowing global climate change (English)
See More +
SEP 01, 2008 111587 Working Paper
Refinements to the probabilistic approach to fiscal sustainability analysis (English)
See More +
SEP 01, 2008 WPS4709 Policy Research Working Paper
A tax-based approach to slowing global climate change (English)
See More +
AUG 01, 2008 45125 Working Paper (Numbered Series)
Fiscal policy for growth (English)
See More +
MAR 29, 2008 40622 Brief
Cost-benefit analysis : evaluation criteria (English)
See More +
DEC 04, 2007 40619 Brief
On the effect of prior assumptions in Bayesian model averaging with applications to growth regression (English)
See More +
JUN 01, 2007 WPS4238 Policy Research Working Paper
Chile : appraisal of public investment (English)
See More +
DEC 04, 2006 40618 Brief
Jointness in Bayesian variable selection with applications to growth regression (English)
See More +
NOV 01, 2006 WPS4063 Policy Research Working Paper