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Author: Paul Glewwe
Publisher: World Bank Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 56
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Book Description
This paper attempts to answer the question: Who is most vulnerable to declines in welfare during a macroeconomic shock? After clarifying the difference between poverty and vulnerability, an analytical framework is presented and then applied to household panel data from Peru. Major findings are: (a) households with better educated heads are less vulnerable; (b) female headed households are not more vulnerable to declines than male headed households; (c) households with more children are more vulnerable to macroeconomic shocks; and (d) transfer networks that may assist the poor in relatively stable periods do not appear to protect them during a major shock, with the exception of transfers that originate from outside Peru.
Author: Paul Glewwe
Publisher: World Bank Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 56
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Book Description
This paper attempts to answer the question: Who is most vulnerable to declines in welfare during a macroeconomic shock? After clarifying the difference between poverty and vulnerability, an analytical framework is presented and then applied to household panel data from Peru. Major findings are: (a) households with better educated heads are less vulnerable; (b) female headed households are not more vulnerable to declines than male headed households; (c) households with more children are more vulnerable to macroeconomic shocks; and (d) transfer networks that may assist the poor in relatively stable periods do not appear to protect them during a major shock, with the exception of transfers that originate from outside Peru.
Author: Paul Glewwe
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Simon Feeny
Publisher: Routledge
ISBN: 1317121058
Category : Science
Languages : en
Pages : 170
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Book Description
Focusing on the vulnerability and resilience to economic shocks at the household level, this book draws on extensive research activities carried out in two Melanesia countries: the Solomon Islands and Vanuatu. In particular, it identifies the household impacts of the recent food, fuel and economic crises. The contributors also examine resilience by identifying how households responded to these recent economic events in order to cope with their impacts. Findings indicate that households are vulnerable to a range of shocks and often struggle to cope with their impacts. Shocks are making it harder for households to meet their basic needs. Households in Melanesia are facing increasing demands for money, in particular for school fees, basic foodstuffs and customary obligations. Concurrently, there are limited domestic opportunities for formal employment. Traditional social support networks are strong and are an important form of resilience. However, there is evidence that they are disintegrating. Of particular focus are the gendered impacts. Women are found to bear a disproportionate share of the burden in adjusting to household shocks. The authors highlight key areas in which public policy and development programmes can reduce household vulnerability and increase their resilience to future economic shocks.
Author: Mr.Sebastian Acevedo Mejia
Publisher: International Monetary Fund
ISBN: 1484363027
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
Global temperatures have increased at an unprecedented pace in the past 40 years. This paper finds that increases in temperature have uneven macroeconomic effects, with adverse consequences concentrated in countries with hot climates, such as most low-income countries. In these countries, a rise in temperature lowers per capita output, in both the short and medium term, through a wide array of channels: reduced agricultural output, suppressed productivity of workers exposed to heat, slower investment, and poorer health. In an unmitigated climate change scenario, and under very conservative assumptions, model simulations suggest the projected rise in temperature would imply a loss of around 9 percent of output for a representative low-income country by 2100.
Author: Institute of Medicine
Publisher: National Academies Press
ISBN: 0309182158
Category : Medical
Languages : en
Pages : 376
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Book Description
The emergence of severe acute respiratory syndrome (SARS) in late 2002 and 2003 challenged the global public health community to confront a novel epidemic that spread rapidly from its origins in southern China until it had reached more than 25 other countries within a matter of months. In addition to the number of patients infected with the SARS virus, the disease had profound economic and political repercussions in many of the affected regions. Recent reports of isolated new SARS cases and a fear that the disease could reemerge and spread have put public health officials on high alert for any indications of possible new outbreaks. This report examines the response to SARS by public health systems in individual countries, the biology of the SARS coronavirus and related coronaviruses in animals, the economic and political fallout of the SARS epidemic, quarantine law and other public health measures that apply to combating infectious diseases, and the role of international organizations and scientific cooperation in halting the spread of SARS. The report provides an illuminating survey of findings from the epidemic, along with an assessment of what might be needed in order to contain any future outbreaks of SARS or other emerging infections.
Author: Ms.Ana Corbacho
Publisher: International Monetary Fund
ISBN: 1451851308
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
Using urban household surveys, we constructed a panel dataset to study the effects of the Argentine macroeconomic crisis of 1999-2002 with the aim of (1) identifying the most vulnerable households, (2) investigating whether employment in the public sector and government spending served to decrease vulnerability, and (3) understanding the mechanisms used by households to smooth the effects of the crisis. Households whose heads were male, less educated, and employed in the construction sector were more vulnerable to the crisis, experiencing larger-than-average declines in income and higher dispersion. Households whose heads were employed in the public sector were more protected from the crisis, although higher public spending did not serve to decrease their vulnerability. A significant source of vulnerability was linked to changes in employment status, and we studied the determinants of the probability of being unemployed and of becoming unemployed. Last, we found that households were unable to perfectly smooth income shocks. Given these results, there is room for broadening social safety nets, particularly in the form of public works programs.
Author: Victor C. Shih
Publisher:
ISBN: 0472037676
Category : Authoritarianism
Languages : en
Pages : 271
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Book Description
"Economic Shocks and Authoritarian Stability hones in on the economic challenges facing authoritarian regimes through a set of comparative case studies, which include Iran, Iraq under Saddam Hussein, Malaysia, Indonesia, Russia, the Eastern bloc countries, China, and Taiwan, authored by the top experts in these countries. Through these comparative case studies, this volume provides readers with the analytical tools for assessing whether the current round of economic shocks will lead to political instability or even regime change among the world's autocracies. This volume identifies the duration of economic shocks, the regime's control over the financial system, and the strength of the ruling party as key variables to explain whether authoritarian regimes would maintain the status quo, adjust their support coalitions, or fall from power after economic shocks"--
Author: Gustavo Adler
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 25
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Book Description
"Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping to increase their resiliency to these shocks. Against a backdrop of these opposing forces, are these economies more vulnerable to global financial shocks today than in the past? Have better fundamentals offset increasing financial integration? If so, what fundamentals matter most? We address these questions by examining the role of these two forces over the past two decades in amplifying or buffering the economic impact of these shocks. Our findings show that EMEs, with the exception of Emerging Europe, have become less vulnerable. Exchange rate flexibility and external sustainability are key determinants of the impact of these shocks, while the extent to which deeper financial integration is a source of vulnerability depends on the exchange rate regime."--- Abstract.
Author: Claire H. Hollweg
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 404
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Book Description
This thesis explores the transmission of economic shocks. Although the thesis is structured as four stand-alone chapters, the common theme throughout is identifying the impact of economic shocks: either idiosyncratic shocks at the household-level, macroeconomic shocks emanating from foreign countries and transmitted through global markets, or countries' own macroeconomic policy changes (for example, structural reforms or trade reforms). Each chapter applies a different empirical methodology, including structural estimation, reduced form instrumental variables estimation, and growth accounting. Finally, each chapter utilizes a different dataset and country sample selection. While one chapter uses a micro dataset from household-level surveys, others use cross-country datasets at the aggregate country level. Both developed and developing countries are considered in the analyses. The thesis begins by exploring the relationship between idiosyncratic income changes and consumption changes of Australian households over the period 2001-2009. A major contribution to the literature is the use of the Household Income and Labor Dynamics of Australia dataset that includes panels on both consumption and income data. For the entire sample of Australian households, nearly full consumption smoothing exists against transitory shocks. Although less consumption smoothing exists against permanent shocks, Australian households still achieve a high degree of consumption smoothing against highly persistent shocks, particularly when compared to households in the United States. Durable purchases, female labor supply, and taxes and transfers are all found to act as consumption-smoothing mechanisms. The thesis then explores the impact of structural reforms on a comprehensive list of macro-level labor-market outcomes, including the unemployment rate, employment levels, average wage index, and labor force participation rates. After documenting the average trends across countries in the labor-market outcomes up to ten years on either side of each country's reform year, fixed-effects ordinary least squares as well as instrumental variables regressions are performed to account for likely endogeneity of structural reforms to labor-market outcomes. Overall the results suggest that structural reforms lead to positive outcomes for labor, particularly for informal workers. Redistributive effects in favor of workers, along the lines of the Stolper-Samuelson effect, may be at work. The thesis then explores the impact of trade liberalization on macroeconomic estimates of productivity using Brazil as a case study. Trade and economic reforms can affect the price of capital goods relative to other tradable and especially non-tradable goods. If the price of capital investments rises more than the price of all goods and services in the economy, mismeasurement of the price of capital caused by the divergence in these relative prices would result in an overestimated capital stock and underestimated TFP. This chapter overcomes this bias by constructing a capital price index using international trade data on capital goods' unit values then adjusts the index to reflect domestic Brazilian prices. A significant recovery between 1992 and 2006 is observed, highlighting the important role of the price deflator in growth accounting. The final chapter of this thesis proposes a methodology to measure the vulnerability of a country through exports to fluctuations in the economic activity of foreign markets. Export vulnerability depends first on the overall level of export exposure, measured as the share of exports to a foreign market in gross domestic product, and second on the sensitivity of exports to fluctuations in foreign gross domestic product. This sensitivity is captured by estimating origin-destination specific elasticities of exports with respect to changes in foreign gross domestic product using a gravity model of trade. Although the results suggest differences in elasticity estimates across regions as well as product categories, the principal source of international heterogeneity in export vulnerability results from differences in export exposure to global markets.
Author: Wim Naude
Publisher: Routledge
ISBN: 1317984501
Category : Business & Economics
Languages : en
Pages : 179
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Book Description
In all of the major challenges facing the world currently, whether it be climate change, terrorism and conflict, or urbanization and demographic change, no progress is possible without the alleviation of poverty. New approaches in development economics have in recent years started from the premise that we cannot successfully deal with poverty unless we also deal with vulnerability—but not only vulnerability to income poverty but also vulnerability to various others hazards—such as climate, conflict, macroeconomic shocks and natural disasters. This book provide insights into new approaches in conceptualising and measuring vulnerability. It includes chapters dealing with advanced issues such as the compilation of economic vulnerability indices (EVIs) on a macro-level, of conceptualizing and measuring local vulnerability across regions in a country, and of measuring the flip-side of vulnerability, namely resilience. The book also explores the sensitivities of the various measurements of vulnerability to vulnerability lines, poverty lines, and permanent income, with consideration to some of the most vulnerable groups in developing countries. Overall, the contributions in the book consolidate new approaches as far as the concept and measurement of vulnerability on different levels and outcomes are concerned, and note directions for future research. This book was published as a special issue of Oxford Development Studies.
