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Stimulating a Green Recovery
Benjamin Jones and Michael Keen
Restoring economic growth after the global financial crisis need not thwart the fight against climate change. Carbon pricing can strengthen fiscal positions, and improved climate resilience can promote macroeconomic stability.
Former BIS chief economist and current chairman of the OECD’s Economic and Development Review Committee, William White argues that today's crisis—which is both real and financial—requires a new macroeconomic paradigm.
With the increasing importance of Asian emerging markets in the world economy, rebalancing growth in developing Asia toward more reliance on domestic demand and less on exports is an important component of the global effort to stabilize the world economy.
After the financial and economic crises, a “third wave” is engulfing the labor market, leaving millions without work and changing the course of their lives. F&D looks at the people likely to be hardest hit, and investigates how governments are responding.
Also in This Issue
Evan Tanner and Yasser Abdih
Although the world is focusing on finding a replacement for the newly frugal U.S. consumer as an engine of demand, there is a related worry. Will those consumers save enough to restore their net worth to precrisis levels and support sustained capital investment?
Are poverty statistics painting too rosy a picture? This article argues that there seems to be a disconnect between the seemingly good quantitative evidence that poverty is falling and the widespread concern that things have not really improved.
Emanuele Baldacci and Sanjeev Gupta
How governments choose to construct their taxing and spending policies makes a difference both to the duration of an economic recession and to the sustainability of the recovery after the downturn ends.
Atish R. Ghosh and Jonathan D. Ostry
Should countries fix their exchange rates, allow their currencies to float and let the market decide their value, or choose some approach between the two extremes? New IMF research sheds light on a longstanding question in international economics.
S. Raihan Zamil
Oversight of systemically important banks is a tricky proposition. Authorities must devise better regulations and supervision of these banks to forestall crises. And, if such an institution founders, they must decide how best to support it or let it fail.
Dilip Ratha, Ralph Chami, and Connel Fullenkamp
Two sides of an important question. Dilip Ratha argues that funds repatriated by migrant workers play an important role in economic development. Ralph Chami and Connel Fullenkamp say remittances are not a good solution to problems of poverty and development.
Podcast | PDF version
People in Economics
Joseph Stiglitz has always taken the side of the “little guy,” and he won the Nobel prize in economics for research on how uneven information leads to unfair market outcomes. His career has spanned academia, U.S. policymaking, authoring a top seller, and even documentary film making.
Dame Barbara Stocking
The global economic crisis has heightened the vulnerability of many poor people in the developing world. How can the major players in the financial world—whose actions lie at the heart of the crisis—help pay for the damage?
Back to Basics
International trade makes countries and the world better off, nearly all economists agree. But because there are winners and losers, trade can be a contentious political issue—both domestically and between governments.