With nearly 49,000 gun-related deaths in 2021, including homicides, suicides, and accidents, the United States has long been thought to be the gun capital of the world, with a staggering 120.5 firearms per 100 inhabitants. But its numbers pale in comparison to Latin America and the Caribbean when it comes to homicides. In 2021, nine of the 10 countries with the highest homicide … [Read more...] about How Overconfidence Can Affect Gun Preferences and Undermine Safety
Debt, Growth, and Interest Rates: Assessing Sustainability in Latin America and the Caribbean
Debt levels in Latin America and the Caribbean increased steadily during the last decade and soared in 2020 with the COVID-19 pandemic, reaching 72% of GDP. In response to the pandemic, countries mobilized considerable resources to support families and firms. Since 2020, debt ratios have declined as economies recovered and fiscal deficits were shaved. Still, with falling growth … [Read more...] about Debt, Growth, and Interest Rates: Assessing Sustainability in Latin America and the Caribbean
The Delicate Balance of Protecting Income While Fighting Inflation
With food inflation for a median country in Latin America and the Caribbean running at 14% in 2022, its highest level in 20 years and even core inflation -- excluding energy and food -- running at 7%, central banks in the region have been compelled to keep interest rates aloft. This has contributed to an important social goal because the poor spend the largest share of their … [Read more...] about The Delicate Balance of Protecting Income While Fighting Inflation
How Labor Markets Adjust to Import Competition
When competition from abroad inflicts severe shocks on a country's firms, the headlines are often about failing businesses and job losses. The shocks may come from different sources: trade reforms, competition from a foreign manufacturing powerhouse, or the entry of big retail chains from abroad. Although the trade shock is likely to bring a number of positive effects, … [Read more...] about How Labor Markets Adjust to Import Competition
Three-Generation Households Can Boost Female Employment
Living in an extended family has become more common around the globe, including in the United States, where the number of people living in multigenerational households has quadrupled in the last five decades. But Latin America, along with Northern Africa, is the region where multigenerational living is most common. This has important policy implications, not least because … [Read more...] about Three-Generation Households Can Boost Female Employment