The COVID-19 pandemic had strong economic and social impacts that have exacerbated the problems of inequality between rich and poor. While the wealthier classes were able to preserve their jobs and work remotely, many low-income workers lost their sources of income overnight, or saw their incomes shrink dramatically. This increase in inequality, coupled with large fiscal … [Read more...] about Can a wealth tax reduce inequality in Latin America and the Caribbean?
Carola Pessino
Chief Economist of the IDB's Fiscal Management Division. She is currently in charge of coordinating knowledge in fiscal policy and management and has led and collaborated in various fiscal strengthening programs in countries in the region. She holds Master in Economics from CEMA University and a Master and Ph.D in Economics from the University of Chicago. She was Secretary of Fiscal Equity (Deputy Chief of Staff) of the Head of the Cabinet of Ministers in Argentina and member of the Economic Council of Advisers to the Minister of Finance of Argentina between 1996 and 1999. During her tenure in government, she designed important projects such as partnership federal tax system and the design, implementation and management of the first integrated information system for fiscal and social purposes (SINTyS) in Latin America of which she was General Coordinator. She was director of the Department of Economics at the CEMA University; Professor and director of the Center for Poverty Studies of the Torcuato Di Tella University; Professor at Duke University and Visiting Fellow at Yale University and the Center for Global Development. She is the author of dozens of academic papers on tax issues, both on public spending and national and sub-national taxation; in labor and social economy; and in fiscal equity, especially in Latin America, and is co-editor of the IDB flagship publication Better Spending for Better Lives.
Now it is the time to Foster Labor Formalization in Latin America and the Caribbean
There is an urgent need to reduce labor informality to encourage inclusive growth after the pandemic is over in Latin America and the Caribbean (LAC). Labor formality boosts government revenue and targeting of transfers, increasing productivity and curtailing poverty. Given that the region has one of the highest labor informality levels in the world, targeting informality is … [Read more...] about Now it is the time to Foster Labor Formalization in Latin America and the Caribbean
Restoring fiscal growth and sustainability: 4 strategic measures implemented by South Korea to face the emergency and the new normal
Despite being one of the countries that had the most COVID-19 cases in early 2020, South Korea managed to control the spread of the outbreak in less than a month, and today it has a mortality rate of 0.2% with a cumulative number of positive cases that is flattening out. Added to this, it managed in a short time to stabilize the economy with an aid package equivalent to 31.2% … [Read more...] about Restoring fiscal growth and sustainability: 4 strategic measures implemented by South Korea to face the emergency and the new normal
Policy and fiscal management during the pandemic and post-pandemic in Latin America and the Caribbean
As is well known, COVID-19 is highly contagious and has a higher mortality rate among at-risk groups than other similar viruses. In Latin America and the Caribbean (LAC) the first contagion case was registered in late February 2020 and by April 20 the number of people infected was 100,000-plus, with 5,300 dead. Unfortunately, these figures quickly became outdated. The outburst … [Read more...] about Policy and fiscal management during the pandemic and post-pandemic in Latin America and the Caribbean