rafmacalaba/datause-encoder-data huggingface dataset:
# **References**

- **Abel, Joshua and Andreas Fuster** , “How Do Mortgage Refinances Affect Debt, Default, and Spending? Evidence from HARP,” _American Economic Journal: Macroeconomics_ , 2021, _13_ (2), 254–291.

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> **Aydin, Deniz** , “Forbearance, Interest Rates, and Present-Value Effects in a Randomized Debt Relief Experiment,” _Working Paper_ , 2021.

**Barboni, Giorgia and Parul Agarwal** , “How do Flexible Microfinance Contracts Improve Repayment Rates and Business Outcomes? Experimental Evidence from India,” _Working Paper_ , 2021.

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- **Bolton, Patrick and Xavier Freixas** , “Equity, Bonds, and Bank Debt: Capital Structure and Financial Market Equilibrium under Asymmetric Information,” _Journal of Political Economy_ , 2000, _108_ (2), 324–351.

- **, , Leonardo Gambacorta, and Paolo Emilio Mistrulli** , “Relationship and Transaction Lending in a Crisis,” _The Review of Financial Studies_ , 06 2016, _29_ (10), 2643–2676.

- **Breza, Emily, Martin Kanz, and Leora F. Klapper** , “Learning to Navigate a New Financial Technology,” _NBER Working Paper 28249_ , 2020.

**Brown, Martin, Armin Falk, and Ernst Fehr** , “Relational Contracts and the Nature of Market Interactions,” _Econometrica_ , 2004, _72_ (3), 747–780.

- **Bursztyn, Leonardo, Bruno Ferman, Stefano Fiorin, Martin Kanz, and Gautam Rao** , “Status Goods: Experimental Evidence from Platinum Credit Cards,” _The Quarterly Journal of Economics_ , 12 2017, _133_ (3), 1561–1595.

- **, Florian Ederer, Bruno Ferman, and Noam Yuchtman** , “Understanding Mechanisms Underlying Peer Effects: Evidence From a Field Experiment on Financial Decisions,” _Econometrica_ , 2014, _82_ (4), 1273–1301.

- **, Stefano Fiorin, Daniel Gottlieb, and Martin Kanz** , “Moral Incentives in Credit Card Debt Repayment: Evidence from a Field Experiment,” _Journal of Political Economy_ , August 2019, _127_ (4), 1641–1683. Publisher: The University of Chicago Press.

- **Chari, Anusha, Lakshita Jain, and Nirupama Kulkarni** , “The Unholy Trinity: Regulatory Forbearance, Stressed Banks and Zombie Firms,” _NBER Working Paper 28435_ , 2021.

29
additional data or switch to a different starting point. In what follows we will document how we proceeded from original data to flow-of-funds accounts. We will focus on the process of data selection, on the assumptions needed to close the data set, and, on the reconciliation of stocks and flows.

In the remainder of this appendix and in the appendix tables we have indicated our data sources as follows:

- CB: Central Bank's Quarterly Bulletin containing all monetary data on the Central Bank and the domestic banking system and, Reserve Money Table; a weekly publication of the Central Bank's balance sheet.

- BoP: Balance of payments data prepared by the Central Bank and available in various publications (e.g. State Planning Organization: Main Economic Indicators).

- DRS: Debt Reporting System of the World Bank.

- Fiscal: "Public Balances" tables published by State Planning organization in most Plan documents.

- NA: National accounts data are taken from "Macrobalances" tables published by SPO.

- E10: Special table prepared by the Central Bank showing foreign asset position of domestic money banks.

- F19: Table on debt service prepared by Treasury.

Some of these sources overlap in terms of data coverage. In the description of the construction of a consistent data set we<sup>will</sup> motivate and indicate our preferred sources.

We have used the following general principle to ensure historical consistency of the data. In an accounting sense, budget constraints of all sectors add up (to zero). Therefore, if data on all but one sector are gathered, then the data on the remaining 2
the decrease will increase to 80 mm per year in the Anatolian Plateau.<sup>3</sup> Such water deficit stress can cause a decline in agricultural yields or require higher water use in irrigation to maintain yields (Yano et al., 2007). In arid and semi-arid parts of the world, climate changes could easily aggravate periodic and chronic shortages of water, and most importantly, climate change poses an important threat in developing countries, many of which are located in arid and semi-arid areas (Watson, et al., 1997). Watson et al. (1997) report that these countries are especially vulnerable in the sense that they predominantly rely on single-point systems such as ‘bore-holes’ or ‘isolated reservoirs’ for their water sources, and once these primary systems fail to function, there is hardly any substitute system to provide adequate water supply. Additionally, these countries do not possess sufficient technical, financial or management resources to overcome the vulnerability and adjust to shortages and/or take on adaptation measures.

Turkey, which is located in arid Western Asia or the Middle East, is also expected to be significantly affected by climate change (ibid). This region, which already is undergoing serious water shortages, is possibly one of the regions most influenced by climate change. Water shortages caused by climate change may also be a blessing in disguise for these countries as long as they adopt changes in cropping practices and improve efficiency of water use through efficient irrigation systems (ibid.). However, we have already mentioned that these countries are more likely to lack adequate technical, financial, or administrative resources to do so.

Although there are not many studies on the impacts of climate change on food and agricultural production in the Middle East, one projection finds that increases in temperature of up to 3-4<sup>o</sup> C will lead to a fall in yields of predominant regional crops across the region by 25 to 35 percent with weak carbon fertilization, or 15 to 20 percent with strong carbon fertilization.<sup>4,5</sup> When we examine the annual total rainfall (mm) data for Turkish provinces from the year 1975 in Figures 4.2, 4.3, and 4.4, we see a clear downward trend in annual rainfall and water availability, particularly in Adana (predominantly producing wheat, maize, cotton, soybean, citrus, fruits), Diyarbakir (primarily supplying wheat, barley, pulses, cotton) and Konya (mostly supplying wheat, barley, sugar beet, pulses), which are important agricultural providers in the

> 3 In the Summary Report on Climate Change: Implications for Agriculture in the Near East-29th FAO Regional Conference for the Near East, Cairo, The Arab Republic of Egypt, 1-5 March 2008. 4 ibid.

> 5 The negative effect of increase in temperatures may be compensated by positive effects of increased CO2 on crop tolerance to water deficit stress (Fuhrer, 2003; Yano, et al., 2007).

51
variable (Separation) that is equal to one for the years after separation and zero before separation. We would expect separation to have a positive economic impact on the existing original provinces if decentralization is thought to enhance efficiency in public service provision.

We conduct our empirical analysis in two parts. First, we examine recent decentralization through changes in number of local governments (per capita and per square kilometer) by including observations from 1976 to 2001. However, we limit our analysis to the original 67 provinces to maintain data consistency throughout the entire period of study. To understand the effect of local decentralization on economic activity and development, we regress provincial gross domestic product per and annual growth rate in provincial GDP per capita on a number of explanatory variables including a dummy variable indicating creation of new provinces by separation from existing ones (Separation), number of municipalities (per capita and square kilometer of land), land area, total number of vehicles, and province and time fixed effects. The main data source for these variables is the Turkish Statistical Institute (TUIK).<sup>4</sup> In the second part of the empirical analysis, we examine cross-sectional variation in decentralization across the current total of 81 Turkish provinces.<sup>5</sup> We picked 2000 as the year of analysis, which is the most recent data year before the 2001 financial crisis in Turkey. In these regressions, we also use “provincial development index” as another

> 4 We use provincial GDP data of 2000 as the basis of analysis. However, TURKSTAT introduced a fourth revision to the GDP series and updated the base year to 1998 from 1987. Revised provincial GDP data do not exist yet. Since our analysis covers the period between 1976 and 2001 we believe that this change has a limited impact on the results. 5 From 1989 to 1999 fourteen new provinces are created by separation from other existing provinces (see Table 1).

10
or approximately 16% of the total city population, lost a valuable asset due to the flood. The primary type of assets lost by households in 2018 included electronic equipment, kitchen appliances, furniture and clothes.<sup>28</sup> Most of these items were damaged when the water came into the house; the population that lost assets in the flood is thus primarily a subset of the ones that experienced water in the house. Housing repairs account for only 17% of total losses, even though 55% of affected households, or 21% of the city population, experienced water in the house. This is because a significant share (25%) of households that had water in the house did not carry out any repairs. The average value of a repair that was carried out was 520,000 Tanzanian shillings – US$200.

The fact that asset losses make up the largest share of losses indicates that flood risk mapping and modeling may not be enough to predict or calculate post-disaster losses. Having water in the house may not be a good indicator of flood impacts for households. Instead, it is more important to capture asset losses, which is costlier and more time consuming.

> 28 Details may be found in Table 17 in Appendix 3.

20
# **Box 5: Cruise Industry in the OECS**

Between 2005 and 2011, international tourist arrivals in OECS decreased at an average annual rate of 1%, spiking in 2009 with 12% growth and achieving an acceptable 3.6% growth rate in 2011. The OECS countries’ share in total international tourist arrivals in the Caribbean is 4.3%. This represents only a 0.6% share for all of the Americas, including North, Central, and South America.

International arrivals in OECS countries are dominated by cruise visitors that are between 2.5 and 3 times more numerous than stay-over visitors. The development of OECS tourism throughout 2000-2011 is largely defined by the behavior of the cruise-ship passenger market (33a, lighter-colored line). During the period, the numbers of stay-over visitors remained stable at about 1 million per year (33a, darker line). This is in contrast to what is observed in the region’s main destinations such as Jamaica, The Bahamas, and Aruba, where stay-over visitors dominate international tourism.

Such differences are important in terms of the impact of tourism in local economies. Passengers of a cruise ship consume by going on local excursions, and going shopping at the country being visited. Stayover visitors spend much more on hotels, restaurants, excursions, transportation, and shopping per stay. It should not come as a surprise that between 2000 and 2011, the number of international cruise-ship passengers increased about 66% (by 40% if we include all international visitors) while the income generated by all passengers measured in terms of traceable spending increased only about 25% from approximately US$95 billion in 2000 to US$1,180 million in 2011 (Figure 33b). These statistics are supported by anecdotal information that points to a clear drop in per capita spending per visit of international cruise-ship visitor from the US$120 – 150 range to the US$ 45-50 range. This is in sharp contrast to per capita spending in the leading Caribbean stay-over destinations that averages US$1,150 per arrival.

<!-- Start of picture text --> Figure 33: Eastern Caribbean Countries International Tourism<br>a. Stay-over and cruise ship passengers b. Total visitor expenditure<br>3,000<br> 1,300<br>2,500<br> 1,200<br>2,000<br> 1,100<br>1,500<br> 1,000<br>1,000<br> 900<br>500<br>2000 2002 2004 2006 2008 2010 800<br>Stay Over Visitors 700<br> Cruise Ship Passengers<br>Visitors '000<br>million US$<br>2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011<br><!-- End of picture text --> <!-- Start of picture text --> Source: Authors’ calculations based on ECCB (2013).<br><!-- End of picture text --> 75
31

# Footnotes

- 1/ See the U.S. General Accounting Office (1986) for a survey of these results.

- 2/ See Committee on Ways and Means (1987), Congressional Budget Office (1988), Alan Greenspan (1988) and the Department of Eneryv (1987).

- 3/ See Anderson and Metzger (1987).

- 4/ The energy independence issue is not an argument for taxation, since with an exhaustible resource such as oil, the faster it is utilized in the present, the less will be available in the future, if prices should rise. Moreover, applying the principle of using the most direct instrument for the noneconomic objective (see Bhagwati and Srinivasan (1969) and Bhagwati (1971)), stockpiling is a less costly alternative, if this argument is taken seriously. See Anderson and Metzger (1987) for further details.

- 5/ Policy issues relating to the energy sector have previously been addressed in a general equilibrium framework. These studies however, usually related to long-run alternatives to petroleum as an energy input. Examples of earlier efforts include Hudson and Jorgenson (1974), Manne (1976) and Borges and Goulder (1984). These studies, however, do not specifically address the issue of tixation. Manne (1984) provides a critical survey of these earlier studies.

- 6/ The welfare implications of US VERs negotiated for autos, textiles and steel are examined in de Melo and Tarr (1988).

- 7/ The welfare costs of these quotas are discussed in de Melo and Tarr (1988).

- 8/ See Varian (1984) for a justification of this measure.

- 9/ The elasticity specification for the other sectors is given in the appendix.

- 10/ See Atkinson and Stiglitz (1980, pp. 366-70) for a detailed discussion.

- 11/ Because it does not consider the effects on the real exchange rate, other things equal, partial equilibrium analysis will tend to overestimate the welfare costs of tariff increases. That is, in general equilibrium, a tariff increase will induce a reduction in imports. This will have the effect of appreciating the real exchange rate to bring about equilibrium in the balance of trade. In the new equilibrium, exports will be reduced. That reduction in exports is an addition to the consumption of domestic consumers, whose welfare is increased accordingly. Simulations with this model (see de Melo and Tarr, 1988), suggest about a fifty percent overestimate of the welfare costs of tariffs, when the impact on the real exchange rate is ignored.
As to be expected, even though the OI interpolation performs better than other techniques, a cross-validation exercise shows performance to degrade significantly with increasing distance to nearest station (Chen et al., 2008). As a result, this data set may not be suitable for analysis in some parts of Africa, with high spatial variation and low density of stations.

Data and technical documentation are available for download from `https://psl.noaa.gov/ data/gridded/data.cpc.globalprecip.html` for precipitation and `https://psl.noaa.gov/data/ gridded/data.cpc.globaltemp.html` for temperature.

# **A.1.4 European Centre for Medium-Range Weather Forecasts (ECMWF) ERA5**

ERA5, based on the European forecasting model ECMWF, is one of two assimilation model data sets used in this paper. The inputs are far too numerous to mention but include a range of satellite inputs as well as gauge data sets. There are a wide range of outputs as well, including 2-meter air temperature and rainfall, available at sub-daily intervals and differentiated vertically. ERA5 is coarser spatial resolution than the global and regional merged rainfall data sets, but more detailed than MERRA2.

The sheer number and complexity of outputs can be a deterrent to the use of weather variables from assimilation models. Uncertainty or lack of understanding about inaccuracies associated with individual output variables of assimilation models, compared to other types of models, is another reason to carefully consider their suitability for particular research (Parker, 2016). Nevertheless, reanalysis data sets are used in a broad range of applications and even outperform other gridded climate data sets in some settings (Zandler et al., 2020).

Data and technical documentation are available for download from `https://cds.climate. copernicus.eu` .

# **A.1.5 Modern-Era Retrospective analysis for Research and Applications, version 2 (MERRA-2)**

The second reanalysis data set used in this analysis is MERRA-2, a product of NASA’s Goddard Earth Observing System, version 5 (GEOS-5) assimilation model. Specifically we make use of the variables T2MMEAN from the statD daily statistics collection, and PRECTOTLAND from the Land Surface Diagnostics collection.

Data and technical documentation are available for download from `https://disc.gsfc.nasa. gov/` .

# **A.1.6 Tropical Applications of Meteorology using SATellite data (TAMSAT)**

The TAMSAT rainfall data set is the highest spatial resolution gridded data set used in this analysis. Inputs are similar to other merged gauge and remote sensing products: Meteosat TIR 102
**Table** 3: Subsidies to enterprises, 1992 - 1995 (% of GDP)

|**Country**|**1992**|**1993**|**1994**|**1995**|
|---|---|---|---|---|
|Kazakhstan|2.5|6.8|_5.5_|4.3e|
|Russia|31.6|8.6|4.9|l|
|Ukraine|12.8|16.4|17.0|6.Oe|

Source: World Bank

# **Benefits and compensation**

One important inheritance of the Soviet system was that firms commonly provided a wide range of social benefits, including housing, child and health care, to their workers. This was particularly true in the larger firms, as measured by employment, and **6** ensured that access to benefits was explicitly linked to the site of employment . Indeed, the planners had aimed to raise attachment and lower turnover precisely by the use of such firm-specific components of compensation. Associated to this was a relatively low monetary wage. Survey evidence suggests that in 1992/93 benefits comprised roughly 30 percent of total labour costs in Russia '. At the same time, enterprise spending on social assets was reported in the range of 4 percent of GDP.

In both scope and scale of benefits provision, it is clear that since the start of transition changes have been relatively limited. Firms in both Ukraine and Russia have continued to offer roughly the same menu of benefits to their workers even when this has **8** imposed a financial burden on the firm . But it is also evident that many firms -- particularly the larger firms -- have received compensating finance for benefits provision from various levels of government. Le Houerou (1995) points out that regional and local governnents tend to subsidise or extend ad hoc tax exemptions to firms that maintain large stocks of social assets. As housing divestiture to municipalities has been mandated in Russia, it is revealing that explicit housing subsidies in 1995 were around 4 percent of GDP. In other states of the FSU, housing still remains largely on the books of firms and

> 6 An empirical overview is provided in Commander, Lee and Tolstopiatenko (1995) 7Commander, Liberman and Yemtsov (1993) Commander and Schankerman (1995)

7
**Figure 6. Growth Incidence Curves of Log of Total Household Income Per Capita, RLMS 1994-2015**

<!-- Start of picture text --> Panel sample<br>Cross-sectional samples<br>0 10 20 30 40 50 60 70 80 90 100<br>Percentile of log(income per capita)<br>60<br>40<br>20<br>Growth rate(%)<br>0<br>-20<br><!-- End of picture text -->

**Note** : Estimation results are based on log of total household income per capita. The distribution by terciles for panel individuals in the first period is based on the cross-sectional sample. Growth rate is calculated as the change in the median log of income per capita for each percentile between 1994 and 2015. All numbers are deflated with December to December regional CPIs and weighted with population weights.

47
# EBE Working Eaper Series

|IiU|AL4ho||Contact<br>foLr f|
|---|---|---|---|
|WPS690 The Terms-of-Trade<br>Effects from the<br>Elimination<br>of State Trading in Sovie<br>Hungarian<br>Trade|Gabor Oblath<br>t- David Tarr|May 1991|J. Smith<br>37350|
|WPS691 Can Debt-Reduction<br>Policies Restor<br>Investment<br>and Economic<br>Growth<br>in Highly Indebted<br>Countries? A<br>Macroeconomic<br>Framework<br>Applied<br>to Argentina|e Jacques Morisset|May 1991|S. King-Watson<br>31047|
|WPS692 Health Financing<br>in the Poor<br>Countries: Cost Recovery<br>or Cost<br>Reduction?|J. Brunet-Jailly|May 1991|0. Nadora<br>31091|
|WPS693 Report on Adjustment<br>Lending II:<br>Lessons for Eastern Europe|Vittorio Corbo|May 1991|A. Oropesa<br>39075|
|WPS694 Labor Markets in an Era of<br>Adjustment: An Overview|Susan Horton<br>Ravi Kanbur<br>Dipak Mazumdar|May 1991|M. Schreier<br>36432|
|WPS695 Long Term Prospects<br>in Eastern<br>Europe: The Role of External Financ<br>in an Era of Change|Ishac Diwan<br>e Fernando<br>Saldanha|June 1991|S. King-Watson<br>33730|
|WPS696 Macroeconomics<br>of Public Sector<br>Deficits: The Case of Chile|Jorge Marshall<br>Klaus Schmidt-Hebbe|June 1991<br>l|S. Jonnakuty<br>39074|
|WPS697 Volatility Reversal from Interest<br>Rates to the Real Exchange<br>Rate:<br>Financial<br>Liberalizatio**n**<br>i Chile,<br>1975-82|Paul D. McNelis<br>Klaus Schmidt-Hebbe|June 1991<br>l|S. Jonnakuty<br>39074|
|WPS698 Tax Policy Options to Promote<br>Private Capital Formation<br>in Pakista|Andrew Feltenstein<br>n Anwar Shah|June 1991|A.Bhalla<br>37699|
|WPS699 Regulation<br>and Deregulatio**n**<br>i<br>Industrial Countries: Some Lessons<br>for LDCs|Ralph Bradburd<br>David R. Ross|June 1991|E. Madrona<br>37496|
|WPS700 Trade Liberalization<br>and the<br>Transition<br>to a Market Economy|Oleh Havrylyshyn<br>David Tarr|June 1991|N. Castillo<br>37961|
|WPS701 Education<br>and Adjustment:<br>A Revie<br>of the Literature|w Andrew Noss|June 1991|C. Cristobal<br>33640|
|WPS702 Should Price Reform Proceed<br>Gradually<br>or in a'BigBang?"|Sweder van Wijnbergen|June 1991|M. Stroude<br>38831|