For the physiologic measurements that were made, both the 3-min and the 8DB method are superior to the 4DB method. The 3-min and 8DB methods seem to be equally effective.
The literature has argued that developing countries are unable to adopt countercyclical monetary and fiscal policies due to financial imperfections and unfavourable political-economy conditions. Using a world sample of up to 112 industrial and developing countries for 1984-2008, we find that the level of institutional quality plays a key role in countries' ability and willingness to implement countercyclical macroeconomic policies. Countries with strong (weak) institutions adopt countercyclical (procyclical) macroeconomic policies, reflected in extended monetary policy and fiscal policy rules. The threshold levels of institutional quality at which policies are acyclical are found to be similar for monetary and fiscal policy. and Mexico were among many developing countries that adopted expansionary policies in response to the 2008-09 global financial crisis and subsequent domestic cyclical weakness.3 By unwillingness, we refer to the case in which policy-makers do not have sufficient incentives to pursue certain policies, even when they are able to do so.
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