House Price Determinants in Selected Countries of the Former Soviet Union

This paper analyses the recent boom-bust cycle in the housing markets of selected Former Soviet Union (FSU) countries. The analysis is based on a newly constructed database on house prices in the FSU countries.

Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations

We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors and (ii) a decline in the cost of borrowing in foreign markets.

Spillovers to Central America in Light of the Crisis: What a Difference a Year Makes

This paper investigates Central America’s external linkages over the last fifteen years of increased integration in light of the 2008–09 global recession.

The Global Financial Crisis and Workers’ Remittances to Africa: What’s the Damage?

Using data on the distribution of migrants from Africa, GDP growth forecasts for host countries, and after estimating remittance multipliers in recipient countries, this paper estimates the impact of the global economic crisis on African GDP via the remittance channel during 2009-2010.

Impact of Remittances on Poverty and Financial Development in Sub-Saharan Africa

This paper assesses the impact of the steadily growing remittance flows to sub-Saharan Africa (SSA).