Latest Issue

RESILIENCE: HEALING THE FRACTURES

Cracks of Light

The post-pandemic world will be transformed in important ways, and we will emerge resilient from this dark chapter

By Gita Bhatt

• Cultivating Global Financial Cooperation

  The current crisis highlights the urgency of strengthening the global financial architecture

  BY Barry Eichengreen

• Overhauling Health Systems

  As countries’ first line of defense against a crisis, health systems need to be strengthened

  By Genevie Fernandes

• Investing in a Green Recovery

  The pandemic is only a prelude to a looming climate crisis

  By Ulrich Volz

People in Economics

ECONOMICS AGITATOR

Mariana Mazzucato

Tireless proponent of government-led innovation

By Bob Simison

• Esther Duflo and Abhijit Banerjee

  Nobel Prize Winners Duflo and Banerjee are reinventing economics

  By Andreas Adriano

• Olivia S. Mitchell

  Wharton’s retirement behaviorist, who is a founder of modern pension research

  By Peter J. Walker

• Edward Glaeser

  Harvard’s Edward Glaeser sees urbanization as a path to prosperity

  By Chris Wellisz

• Atif Mian

  A Princeton economist, who sees the fight against inequality as a moral imperative

  By Hyun-Sung Khang

Series Archive

Point of View

OP-ED PIECES FROM LEADING THINKERS

Conquering the Great Divide

The pandemic has laid bare deep divisions, but it’s not too late to change course

By Joseph Stiglitz

• Delivering Debt Relief for the Poorest

  Converting debt liabilities into investments that protect children is good economics and an ethical imperative

  By Kevin Watkins

• On Central Bank Independence

  The author of Unelected Power discusses constitutionalist central banking in a world of inert politics

  By Paul Tucker

• Accepting the Reality of Secular Stagnation

  New approaches are needed to deal with sluggish growth, low interest rates, and an absence of inflation

  By Lawrence H. Summers

In the Trenches

One-on-one with Policymakers

Staying the Course

Jamaica’s former central bank governor Brian Wynter explains the challenges of modernizing monetary policy

By Olga Stankova

• The Medellín Miracle

  Prioritizing security and sustainability paved the way for a 21st century city

  By Marjorie Henríquez

• Rebuilding Somalia

  Finance Minister Abdirahman Dualeh Beileh sees hope for his country’s economic development

  By Bruce Edwards

• Going against the Tide

  Brazil's Ilan Goldfajn explains why central bankers ought to follow their convictions

  By Andreas Adriano

• Convincing the Markets

  Peter Praet revisits the ECB's unconventional monetary policy response to the euro crisis

  By Rebecca Christie

Currency Notes

Making History

Tunisia honors the country’s first female physician on its 10 dinar banknote

By Melinda Weir

Picture This

Food Insecure

The viral pandemic is bringing a new global hunger crisis

BY Adam Behsudi

• Trust Imperative

  Trust is at rock bottom, and we must urgently restore it

  BY Richard Edelman

• Coming of Age

  By 2050, as birth rates continue to drop and people live longer, the world’s population will change

  BY Neil Ruiz, Luis Noe-Bustamante, and Nadya Saber

Online Exclusives

The Secret Work of Elephants

African forest elephants fight climate change by contributing in surprising ways to natural carbon capture

By Ralph Chami, Connel Fullenkamp, Thomas Cosimano, and Fabio Berzaghi

• Tribute to Alberto Alesina (1957–2020)

  By Gita Gopinath

• A Matter of Life and Death

  It’s time to decide how best to allocate scarce medical resources.

  By David E. Bloom, Daniel Cadarette, Maddalena Ferranna, and Benjamin Seligman

• Menno Snel on Tackling Tax Avoidance

  The Dutch Finance Ministry is working to stamp out tax avoidance.

  By Maureen Burke

Also in This Issue

Race in Economics

Economists and policymakers need a wake-up call to root out racial discrimination

By Martin Čihák, Montfort Mlachila, and Ratna Sahay

• Friend or Foe?

  Technology can boost either resilience or inequality, depending on how much you have of it

  BY Andreas Adriano

• Portraits of Resilience

  Three people cope with change as the pandemic upends their world

  By Raphael Alves, Ariana Lindquist, and K. M. Asad

• An Ounce of Prevention

  Our approach to vaccine finance is ill-suited to addressing epidemic risks

  By David E. Bloom, Daniel Cadarette, and Daniel L. Tortorice

F&D Podcast Channel

Umbilical Cord of Remittances Under Threat

The pandemic is crippling economies across the globe but for many countries, the economic shock will be magnified by the loss of remittances—money sent home by migrant and guest workers employed in foreign countries.

Ralph Chami

How Pandemics Widen the Gap

While rich and poor are equally vulnerable to the debilitating physical effects of the coronavirus, the economic and social impact of the pandemic is much less equal.

Jonathan Ostry

Sub-Saharan Africa: COVID-19 A Threat to Development

Sub-Saharan Africa is facing an unprecedented health and economic crisis that threatens to reverse development progress

Papa N’Diaye

Middle East, Central Asia Face Perfect Storm

Latest outlook for Middle East and Central Asia shows one of the most challenging moments in economic history

Jihad Azour

Back to Basics

Current Economic Issues Explained

What Is Debt Sustainability?

Many factors go into assessing how much debt a developing economy can safely carry

By Dalia Hakura

• How Can Interest Rates Be Negative?

  Countries are starting to experiment with negative interest rates

  By Vikram Haksar and Emanuel Kopp

• What Is Stress Testing?

  Checking the health of banks is crucial to financial stability

  By Martin Čihák, Hiroko Oura, and Liliana Schumacher

• What Is Carbon Taxation?

  Carbon taxes have a central role in reducing greenhouse gases

  By Ian Parry

  How Fiscal Policies Can Help Save the Planet

• Does a Minimum Wage Help Workers?

  An overly generous wage may prompt employers to cut jobs

  By Piyaporn Sodsriwiboon and Gabriel Srour

  Minimum wage

Series Archive

Book Reviews

EXPERTS REVIEW THE LATEST BOOKS

Angrynomics

By Eric Lonergan and Mark Blyth

Reviewed by ANTONIO SPILIMBERGO

• The Economics of Belonging

  By Martin Sandbu

  Reviewed by PAOLO MAURO

• Deaths of Despair and the Future of Capitalism

  By Anne Case and Angus Deaton and Esther Duflo

  Reviewed by KENNETH ROGOFF

• Backstage: The Story Behind India’s High Growth Years

  By Montek Singh Ahluwalia

  Reviewed by MARTIN WOLF

Straight Talk

IMF LEADERSHIP ON KEY GLOBAL ISSUES

Knightmare Uncertainty

In the COVID-19 world, risk has become riskier

BY Geoffrey Okamoto

• Beyond the Crisis

  

  Now is the time to take advantage of this opportunity to build a better world

  Kristalina Georgieva

• The Adaptive Age

  

  No institution or individual can stand on the sidelines in the fight against climate change

  Kristalina Georgieva

• Updating Bretton Woods

  

  Renewed commitment to global economic cooperation is needed

  Christine Lagarde

• Cleaning Up

  

  Countries are advancing efforts to stop criminals from laundering their trillions

  Rhoda Weeks-Brown

F&D Video Channel

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F&D Masthead

• Gita Bhatt, Editor-In-Chief
• Maureen Burke, Managing Editor
• Rahim B. Kanani, Digital Editor
• Andreas Adriano, Senior Editor

• Peter J. Walker, Senior Editor
• Adam Behsudi, Senior Editor
• Lijun Li, Online Editor
• Melinda Weir, Production Manager