5 minute read. Fiscal policy is defined as the use of government revenue collection and government spending to influence the economy. It can be used to affect various macroeconomic factors, including the level of aggregate demand in the economy, savings and investment, and the allocation of resources. Strategic decisions regarding government spending and taxation … [Read more...] about Taxonomy Matters: Fiscal Policy
Transforming access to information at the IDB
A historic change According to the Organisation for Economic Cooperation and Development (OECD), transparency and access to information, along with proper public communication, are key pillars for strengthening trust between institutions and citizens. In this context, the IDB has taken a historic step by approving its new Access to Information Policy in June 2024, which … [Read more...] about Transforming access to information at the IDB
Taxonomy Matters: Artificial Intelligence
According to Stanford University, Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems, including learning, reasoning, and self-correction. As its concept suggests, AI is a broad term that encompasses any technology that allows computers to mimic human abilities. This field includes disciplines such … [Read more...] about Taxonomy Matters: Artificial Intelligence
Operations Day: Sharing experiences to achieve greater impact
Why is there an “Operations Day”? At the Inter-American Development Bank (IDB), we are exploring various ways to learn through experiences in project execution and thus be able to share them with our partners in Latin America and the Caribbean. We know it is not enough to just have cutting-edge ideas, sophisticated tools such as artificial intelligence (AI), and advanced … [Read more...] about Operations Day: Sharing experiences to achieve greater impact
Taxonomy Matters: Behavioral Economics
This edition of the Taxonomy Matters series explores the concept of behavioral economics. According to the International Encyclopedia of the Social and Behavioral Sciences, in an article by Sendhil Mullainathan and Richard Thaler, behavioral economics is the combination of psychology and economics … [Read more...] about Taxonomy Matters: Behavioral Economics