As COVID-19 struck, governments across Latin America and the Caribbean imposed lockdowns and other restrictions that led to widespread job losses. There was record unemployment in the hospitality, tourism, and retail sectors. Youth, women, and low-income workers suffered especially, and jobs in the informal sector took a hard hit. The increase in remote work that emerged during … [Read more...] about Pension Problems and the Need for Reform in the Wake of COVID-19
AI Reinvents IDB Flagship Reports: Ushering in a New Era of Interactive Economic Research and Policymaking
Imagine engaging in a conversation with a comprehensive macroeconomic report, asking questions, exploring scenarios, and receiving real-time insights tailored to your queries. The Inter-American Development Bank has made this vision a reality by seamlessly integrating an AI system within its flagship reports. The 2024 Latin American and Caribbean Macroeconomic Report, Ready for … [Read more...] about AI Reinvents IDB Flagship Reports: Ushering in a New Era of Interactive Economic Research and Policymaking
Easing Housing Constraints to Urban Migration
For six decades, migrants have been pouring into the cities of Latin America and the Caribbean, boosting the percentage of the urban population from 50% to 80%, and delivering large benefits, including greater specialization, competition, innovation and entrepreneurship, to the region's metropolitan centers. But while migration to cities often results in significant gains, … [Read more...] about Easing Housing Constraints to Urban Migration
Walking the Monetary Tightrope: Latin America’s Challenge in Lowering Interest Rates
As inflation surged in 2021, central banks in Latin America and the Caribbean acted swiftly and aggressively—well before the developed world—to combat inflation by raising interest rates. With inflation largely tamed, they now face considerable pressure to lower interest rates to foster economic growth and ease the burden of debt servicing. But doing so comes with significant … [Read more...] about Walking the Monetary Tightrope: Latin America’s Challenge in Lowering Interest Rates
AI and the Importance of Regulation from a Star-Wars Perspective
While the uses and capabilities of artificial intelligence (AI) continue to grow at a fast pace, the head-long rush into new frontiers could have significant drawbacks. As Anton Korinek, an AI expert at the University of Virginia, described in a recent blog, AI systems could soon replace relatively unskilled cognitive workers, like people who work in call centers or low-level … [Read more...] about AI and the Importance of Regulation from a Star-Wars Perspective