Basic concepts for continuous analysis of fertilizer response data; Choice of functional form; Development of a general model for deriving farmer recommendations; Special topics.
The paper documents the use of foreign exchange intervention (FXI) across countries and monetary regimes, with special attention to its use under inflation targeting (IT). We find significant differences between advanced and emerging market economies, with the former group conducting FXI limitedly and broadly symmetrically, while the use of this policy instrument in emerging market countries is pervasive and mostly asymmetric (biased towards purchasing foreign currency, even after taking into account precautionary motives). Within emerging markets, the use of FXI is common both under IT and non-IT regimes. We find no evidence of FXI being used in response to inflation developments, while there is strong evidence that FXI responds to exchange rates, indicating that IT central banks in EMDEs have dual inflation/exchange rate objectives. We also find a higher propensity to overshoot inflation targets in emerging market economies where FXI is more pervasive.
This groundbreaking work examines Latin America's prison crisis and the failure of mass incarceration policies. As crime rates rose over the past few decades, policy makers adopted incarceration as the primary response to public outcry. Yet, as the number of inmates increased, crime rates only continued to grow. Presenting new cross-national data based on extensive surveys of inmates throughout the region, this book explains the transformation of prisons from instruments of incapacitation, deterrence, and rehabilitation to drivers of violence and criminality. Bergman and Fondevila highlight the impacts of internal drug markets and the dramatic increase in the number of imprisoned women. Furthermore, they show how prisons are not isolated from society - they are sites of active criminal networks, with many inmates maintaining fluid criminal connections with the outside world. Rather than reducing crime, prisons have become an integral part of the crime problem in Latin America.
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