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Nicoletta Batini, Mario di Serio, Matteo Fragetta, and Mr. Giovanni Melina
This paper provides estimates of output multipliers for spending in clean energy and biodiversity conservation, as well as for spending on non-ecofriendly energy and land use activities. Using a new international dataset, we find that every dollar spent on key carbon-neutral or carbon-sink activities can generate more than a dollar’s worth of economic activity. Although not all green and non-ecofriendly expenditures in the dataset are strictly comparable due to data limitations, estimated multipliers associated with spending on renewable and fossil fuel energy investment are comparable, and the former (1.1-1.5) are larger than the latter (0.5-0.6) with over 90 percent probability. These findings survive several robustness checks and lend support to bottom-up analyses arguing that stabilizing climate and reversing biodiversity loss are not at odds with continuing economic advances.
Nicoletta Batini, Mario di Serio, Matteo Fragetta, and Mr. Giovanni Melina

Model B. Data Coverage and Specification V. Results VI. Robustness Analysis VII. Conclusions and Policy Implications References Appendix A. Data 1 We thank Michel Berthélemy (OECD-Nuclear Energy Agency) for providing nuclear energy investment data. We are deeply indebted to Greg Kaser, Philippe Costes and King Lee (all World Nuclear Association), as well as to Victoria Alexeeva Bertrand Magné, Henri Paillere and Aliki Van Heek (all International Atomic Energy Agency) for the illuminating discussions on nuclear energy data and the

International Monetary Fund. Statistics Dept.

;c Local Governments ;dSubsector 5. Local governments ;e5.1 139 municipalities ;e5.2 4 cities ;b Data coverage Data in central government tables cover operations of subsectors 1–3 Data in local government tables cover operations of subsector 5 ;b Accounting Practices ;f1. Bases of recording: Revenues are reported on a cash basis, expenditure on an accrual basis;. ;f2. Liquidation or complementary period: - ;f3. Valuation of assets and liabilities: Financial assets and liabilities

International Monetary Fund. Statistics Dept.

Local Governments ;dSubsector 5. Local governments ;e5.1 139 municipalities ;e5.2 4 cities ;b Data Coverage Data in central government tables cover operations of subsectors 1–3 Data in local government tables cover operations of subsector 5 ;b Accounting Practices ;f1. Bases of recording: Revenues are reported on a cash basis, expenditure on an accrual basis;. ;f2. Liquidation or complementary period: - ;f3. Valuation of assets and liabilities: Financial assets and liabilities are at face

Mr. John J Matovu and Ms. Era Dabla-Norris
This paper addresses the potential effects on human capital accumulation and economic growth of the alternative compositions of public expenditures in the context of a computable dynamic general equilibrium model of overlapping generations and heterogeneous agents in which altruistic parents make schooling decisions for their children. In the presence of fixed and variable costs for different levels of schooling, we show that reducing household costs of primary education has the largest positive impact on growth and poverty reduction in the short run. Moreover, an increase in higher education spending increases long-run growth. These effects can be substantial even when increasing education spending comes at the expense of public infrastructure investment.
Mr. John J Matovu and Ms. Era Dabla-Norris

.9 3.5 15.0 10.0 13.5 14.9 source: IMF and World Bank a Regional averages are weighted by current GDP for the year b Data coverage varies for the different variables Table 7. Countries With Primary Gross School Enrollment Ratios Below 90 Percent, 1996 Region and country Gross enrollment ratio Region and country Gross enrollment ratio 50-90 percent Sub-Saharan Africa Middle East and North Africa Benin 78 Morocco 86 Burundi 51 Oman 76

Nicoletta Batini, Mario di Serio, Matteo Fragetta, and Mr. Giovanni Melina

to be strong determinants of spending decisions. For each of 10,000 draws from the posterior distribution, 19 we derive impulse responses for a time horizon of 5 years, saving the median response and the 16th and 84th percentile of their distribution as confidence bands. Given that the model requires the estimation of many parameters, for the sake of parsimony, we produce the baseline results with a uniform lag structure of one year and conduct robustness checks with a lag structure of two years in Section VI . B. Data Coverage and Specification Details

International Monetary Fund. Statistics Dept.

;e5.2 Kigali City Council ;b Data Coverage Data in central government tables cover operations of subsector 1. The changes in currency and deposits are included under loans in financial assets because the information available is for net credit to government (loans minus deposits). For this reason Statement II shows zeros as values under Net change in the stock of cash. ;b Accounting Practices ;f1. Bases of recording: The data compiled for budgetary central government are on a modified cash basis. ;f2. Liquidation or