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The fiscal challenges of Brazil’s states and municipalities can have a significant impact on the...

This is the second volume in the "A Guide to IMF Stress Testing" series. The objective of this...

We examine the gains from globalization in the presence of firm heterogeneity and potential...

We find that countries which are able to borrow at spreads that seem low given fundamentals (for...

We study the channels that theoretically transmit the effects of inequality to economic growth,...

We present a semi-structural model of default risk, which is a function of loan and borrower...