A silver lining that has emerged from the Covid-19 pandemic is that CO2 emissions have decreased dramatically during the lockdowns. But that this is not necessarily good news for climate change. Emission levels are likely to return to previous levels once the lockdowns are lifted because there have not been any structural changes in climate-related policies that will lock in … [Read more...] about Climate Change is a Threat to Economic Growth and to Reducing Income Inequality in Latin America and the Caribbean
Latin America and the Caribbean—like the rest of the world—is facing a challenge like none in its modern history. The coronavirus, with no vaccine or cure to curb it yet, has swept every continent, infecting more than 3.1 million people and killing more than 220,000 as of late April. Without a determined health response, it could have killed as many as 3.2 million people in our … [Read more...] about Policies to Fight the Pandemic in Latin America
The unprecedented conditions created by the spread of the coronavirus call for exceptional policy responses from the regional monetary authorities. Besides traditional tools such as interest rate reductions, central banks have been pursuing unconventional measures to avoid permanent consequences from a transitory, but potentially severe, negative shock. Since the 2008 global … [Read more...] about What Can Central Banks Do to Mitigate the Effects of the Coronavirus?
The novel coronavirus and the disease it causes, Covid-19, have imposed severe human and economic costs around the world. Cases are growing in Latin America and the Caribbean and if there is one lesson from other countries it is that early action to stop the spread of the virus is key. A recent analysis suggests that there would have been around 3.3 million deaths in the region … [Read more...] about Policies and Projections for Latin America and the Caribbean in the Time of Covid-19
As Joana Silva and I document in a recent book, earnings inequality declined in 16 of the 17 countries in Latin America for which consistent statistics can be calculated, although the intensity and turning points diverged across countries. For example, after a decade of stagnant or slowly increasing inequality, the 90th/10th interquantile range of the labor earnings … [Read more...] about Did Education and Job Experience Reduce Inequality in Latin America?