Asymmetric Exchange Rate Policy in Inflation Targeting Developing Countries Ahmet Benlialper, Hasan Comert and Nadir Ocal

Most of the developing countries that adopted inflation targeting experienced large appreciations in their currencies before the global crisis. This paper examines whether central banks in developing countries have different policy stances with respect to depreciation and appreciation in order to hit their inflation targets. 01_2017  (Download the full text in PDF format)

The Impacts of the 2008 Global Financial Crisis on Developing Countries: The case of the 15 most affected countries Hasan Comert and Esra Nur Ugurlu

[Working Paper No. 03/2015] From their analysis of the impact of the recent global crisis, the authors show that the trade channel was the most important mechanism in the transmission of the crisis from advanced economies to developing countries. WP_03_2015 (Download the full text in PDF format)

Integration, Spurious Convergence, and Financial Fragility: A post-Keynesian interpretation of the Spanish crisis Esteban Perez Caldentey and Matias Vernengo

[Working Paper No. 02/2015] The authors argue that the Spanish crisis resulted from a widening deficit in the non-financial corporate sector and a declining trend in profitability under a regime of financial liberalization and loose and unregulated lending practices. WP_02_2015 (Download the full text in PDF format)

Cash Transfers as a Strategy for Poverty Reduction: A critical assessment Policy Brief No. 03/2011

In the past decade, cash transfers have been gaining in popularity as a preferred strategy for poverty reduction in different parts of the world. This policy brief discusses some of the pros and cons of using cash transfers as a strategy for poverty reduction. It also discusses the need for seeing cash transfers as supplements, rather than as substitutes of public provisioning of goods and services. PB_03_2011 (Download the full text in PDF format)

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