Jonathan D Ostry
Biographic Data
| ID | 1173148 |
|---|---|
| NAME | Jonathan D Ostry |
| GIVEN NAMES | Jonathan D |
| FAMILY NAME | Ostry |
| SIGNATURE | OSTRY J D |
| AFFILIATIONS | International Monetary Fund |
| ORCID | 0000-0002-0315-8378 |
| VERIFIED | Yes |
| TOTAL WORKS | 12 |
| TOTAL CITATIONS | 58 |
| AUTHOR COUNT | 12 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1992 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 3 |
The Armistice of the Sexes: Gender Complementarities in the Production Function
Most macroeconomic and growth accounting models assume that male and female workers are perfectly substitutable in the aggregate production function. Whether this assumption is valid is an empirical question that this article aims to answer by estimating the elasticity of substitution (ES) between female and male labor. This study applies linear and non-linear techniques to firm-level data, cross-country sectoral data, and cross-country aggregate…
Will Covid-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics
Growth‐equity trade‐offs in structural reforms
Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross‐country data covering advanced, emerging‐market, and low‐income countries. Our main finding is that there is indeed evidence of a growth‐equity trade‐off for some important reforms. Financial and capital account liberalization seem to increase both growth and inequality, as d…
A Tie That Binds: Revisiting the Trilemma in Emerging Market Economies
This paper examines the claim that exchange rate regimes are of little salience in the transmission of global financial conditions to domestic financial and macroeconomic conditions by focusing on a sample of about forty emerging market countries over 1986 to 2013. Our findings show that exchange rate regimes do matter. The transmission of global financial shocks to domestic credit and house price growth, as well as to banking sector leverage and…
Redistribution, inequality, and growth: New evidence
Inequality and the Fragility of Growth
Over the long run, sustained growth is central to poverty reduction. The rapid growth seen in much of the world over the past few decades — notably, but not only, in China and India — has led to an unprecedented reduction in poverty. And, in general, increases in per capita income tend to translate into proportionate increases in income of the poor. As Dollar and Kraay (2002) memorably put it, “Growth Is Good for the Poor.” All the more reason, t…
Les gouvernements doivent-ils réduire la dette publique
Suite à la crise mondiale de 2008-2009, la dette publique des pays riches a atteint des niveaux inédits en 40 ans, alourdie par les soutiens aux banques et l’augmentation des déficits budgétaires. Les débats récents ont alors porté sur la vitesse idéale de réduction de la dette, sans que la question de son niveau optimal à long terme soit elle-même posée. Nous défendons l’idée que, pour les pays qui ont une marge de manœuvre budgétaire suffisante…
Redistribution, Inequality, and Growth
The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending…
Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies
How high can public debt rise without compromising fiscal solvency? We answer this question using a stochastic model of sovereign default in which risk-neutral investors lend to a government that displays ‘fiscal fatigue’, whereby its ability to increase primary balances cannot keep pace with rising debt. As a result, the government faces an endogenous debt limit beyond which debt cannot be rolled over. Using data for 23 advanced economies over t…
What makes growth sustained
Response of the equilibrium real exchange rate to real disturbances in developing countries
Trade restrictions with imported intermediate inputs
What makes growth sustained
Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies
How high can public debt rise without compromising fiscal solvency? We answer this question using a stochastic model of sovereign default in which risk-neutral investors lend to a government that displays ‘fiscal fatigue’, whereby its ability to increase primary balances cannot keep pace with rising debt. As a result, the government faces an endogenous debt limit beyond which debt cannot be rolled over. Using data for 23 advanced economies over t…
Will Covid-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics
Growth‐equity trade‐offs in structural reforms
Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross‐country data covering advanced, emerging‐market, and low‐income countries. Our main finding is that there is indeed evidence of a growth‐equity trade‐off for some important reforms. Financial and capital account liberalization seem to increase both growth and inequality, as d…
Response of the equilibrium real exchange rate to real disturbances in developing countries
Trade restrictions with imported intermediate inputs
What makes growth sustained
Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies
How high can public debt rise without compromising fiscal solvency? We answer this question using a stochastic model of sovereign default in which risk-neutral investors lend to a government that displays ‘fiscal fatigue’, whereby its ability to increase primary balances cannot keep pace with rising debt. As a result, the government faces an endogenous debt limit beyond which debt cannot be rolled over. Using data for 23 advanced economies over t…
Redistribution, Inequality, and Growth
The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending…
Inequality and the Fragility of Growth
Over the long run, sustained growth is central to poverty reduction. The rapid growth seen in much of the world over the past few decades — notably, but not only, in China and India — has led to an unprecedented reduction in poverty. And, in general, increases in per capita income tend to translate into proportionate increases in income of the poor. As Dollar and Kraay (2002) memorably put it, “Growth Is Good for the Poor.” All the more reason, t…
Les gouvernements doivent-ils réduire la dette publique
Suite à la crise mondiale de 2008-2009, la dette publique des pays riches a atteint des niveaux inédits en 40 ans, alourdie par les soutiens aux banques et l’augmentation des déficits budgétaires. Les débats récents ont alors porté sur la vitesse idéale de réduction de la dette, sans que la question de son niveau optimal à long terme soit elle-même posée. Nous défendons l’idée que, pour les pays qui ont une marge de manœuvre budgétaire suffisante…
Redistribution, inequality, and growth: New evidence
A Tie That Binds: Revisiting the Trilemma in Emerging Market Economies
This paper examines the claim that exchange rate regimes are of little salience in the transmission of global financial conditions to domestic financial and macroeconomic conditions by focusing on a sample of about forty emerging market countries over 1986 to 2013. Our findings show that exchange rate regimes do matter. The transmission of global financial shocks to domestic credit and house price growth, as well as to banking sector leverage and…
Growth‐equity trade‐offs in structural reforms
Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross‐country data covering advanced, emerging‐market, and low‐income countries. Our main finding is that there is indeed evidence of a growth‐equity trade‐off for some important reforms. Financial and capital account liberalization seem to increase both growth and inequality, as d…
Will Covid-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics
The Armistice of the Sexes: Gender Complementarities in the Production Function
Most macroeconomic and growth accounting models assume that male and female workers are perfectly substitutable in the aggregate production function. Whether this assumption is valid is an empirical question that this article aims to answer by estimating the elasticity of substitution (ES) between female and male labor. This study applies linear and non-linear techniques to firm-level data, cross-country sectoral data, and cross-country aggregate…
Economics (11 works) · Macroeconomics (8 works) · Fiscal Policy and Economic Growth (6 works) · Inequality (5 works) · Demographic economics (4 works) · Exchange rate (4 works) · Income, Poverty, and Inequality (4 works) · Mathematics (4 works) · Monetary economics (4 works) · Monetary Policy and Economic Impact (4 works)