The fiscal outlook for Latin America and the Caribbean is reminiscent of the story of Joseph, arguably the first documented fiscal policy advisor in the history of civilization. Asked to interpret the famous Egyptian Pharaoh’s dream, in which seven ugly and gaunt cows devoured seven fine and fat cows, Joseph predicted seven years of abundance to be followed by seven years of … [Read more...] about Joseph and the Seven Cows: A Parable for Latin America and the Caribbean
Does Facebook Conspire against Happiness?
What's the key to happiness? How can we become as happy as those who live in Nordic countries -“the happiest in the world" - according to the United Nations' World Happiness Report 2013? One of the keys is not comparing ourselves to everyone else. Improving people's quality of life and their happiness is not easy. Happiness depends on many factors that are often beyond the … [Read more...] about Does Facebook Conspire against Happiness?
Time to Adjust: But How, and When?
Most countries in Latin America and the Caribbean are running significant structural fiscal deficits and debt levels are rising. At current rates of growth, the unpleasant arithmetic of debt sustainability indicates that unless something changes the continent will soon lose its much heralded “improved fundamentals” and may even risk becoming the “continent of crises” once … [Read more...] about Time to Adjust: But How, and When?
Democratization of Latin American Data
How a Database is Helping People Make Better Informed Decisions It all started seven years ago, when a group of senior research economists realized that by collecting macroeconomic and financial data from the 26 borrowing member countries of the Inter-American Development Bank in a very simple Excel file they were—nearly by accident—creating a region-wide database for … [Read more...] about Democratization of Latin American Data
Latin America´s trade with Korea: moving beyond commodities
Trade and investments between Asia and Latin America have been booming in recent years. But the relationship can become much richer and deeper provided Latin American and Caribbean countries understand how Asian countries share similarities, as well as important differences. Korea provides a compelling example. A new IDB report released ahead of the Bank’s Annual Meeting in … [Read more...] about Latin America´s trade with Korea: moving beyond commodities