Corruption is a public enemy. Brazil's ongoing Lava Jato scandal is only the most recent prominent example of what can happen when government expenditures are undertaken with insufficient transparency and accountability. Pointing out a problem is one thing. Learning how to solve it—or at least contain it—is a different issue altogether, and one that raises a variety of … [Read more...] about Can Government and Civil Society Unite to Combat Corruption?
When Politics Distorts Tax Reform
The voters of the United States will ultimately weigh in on the wisdom of the large $1.5 trillion tax cuts headed for a final vote before the end of the year in the U.S. Congress. They will make it clear in the November 2018 legislative elections whether they believe that steep reductions in corporate taxes and income taxes for the wealthy are a sound investment in economic … [Read more...] about When Politics Distorts Tax Reform
The Good, Bad and Unexpected of Fiscal Rules
Caribbean countries still face a delicate fiscal situation. While a number of Caribbean economies have reduced their debt burden, the majority face high sovereign debt levels that weigh on their prospects for strong and sustainable growth. In the context of weak fiscal stances and high dependence on foreign external conditions, it makes sense to implement fiscal rules that … [Read more...] about The Good, Bad and Unexpected of Fiscal Rules
Rethinking Inflation Targeting: What Do the UK and Latin America Have in Common?
On November 2, 2017, the Bank of England increased its policy interest rate from 0.25% to 0.5%. At the same time, it issued the sternest warning yet that Brexit would have a negative impact on the economy. The statement made the markets think that the economy was weaker than previously thought, or that the Bank of England might be more dovish than expected in the future. The … [Read more...] about Rethinking Inflation Targeting: What Do the UK and Latin America Have in Common?
Stepping Up the Struggle Against Climate Change
The word out of Bonn, where the latest United Nations Climate summit came to an end Nov. 18, is hardly encouraging. Assuming that countries honor their commitments to reduce greenhouse gas emissions made to date, the globe's temperature will still rise at least 3 degrees Celsius (5.4 degrees Fahrenheit) this century, 1 degree Celsius above the agreement established at the Paris … [Read more...] about Stepping Up the Struggle Against Climate Change