Latest Issue

POLITICAL ECONOMY AND PANDEMICS

Embracing Identity

Broadly shared identity can be the basis for the sense of shared destiny that is at the core of good politics

BY Andrés Velasco

• Preparing for an Unknown World

  We must collectively work toward resolving the problems exposed by the crisis

  By Era Dabla-Norris, Vitor Gaspar, and Kalpana Kochhar

• Life Post–COVID-19

  Six prominent thinkers reflect on how the pandemic has changed the world

  By Daniel Susskind, James Manyika, Jean Saldanha, Sharan Burrow, Sergio Rebelo, and Ian Bremmer

• Turning Point

  While this health crisis reoriented our focus, the issue of political economy is more relevant than ever.

  By Gita Bhatt

People in Economics

POVERTY FIGHTERS

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

• Susan Athey

  A Stanford economist who brings machine learning to economics

  By Bob Simison

Series Archive

Point of View

OP-ED PIECES FROM LEADING THINKERS

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

• Access to Finance

  Women are self-selecting out of the African credit market

  By Hanan Morsy

• A Greener Future for Finance

  The successes and challenges of green bonds offer lessons for sustainable finance

  By Afsaneh Beschloss and Mina Mashayekhi

In the Trenches

One-on-one with Policymakers

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

Star Turn

Aruba’s new banknotes spotlight the heroes among its flora and fauna

By Niccole Braynen-Kimani and Melinda Weir

Picture This

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

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

• David Rubenstein on Profit and Purpose

  Carlyle Group cofounder David M. Rubenstein on a new corporate reality

  By Rahim Kanani

Also in This Issue

The Devil is in the Details

If properly designed, tax-based fiscal consolidation does not have to be politically costly

By Era Dabla-Norris and Aleksandra Zdzienicka

• Caught by a Cresting Debt Wave

  Past debt crises can teach developing economies to cope with COVID-19 financing shocks

  BY M. Ayhan Kose, Franziska Ohnsorge, Peter Nagle, and Naotaka Sugawara

• Reckoning with Systemic Hazards

  The 21st century is set to be one of massive disruptions that pose serious threats to society

  By Ann Florini and Sunil Sharma

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

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

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

• Good Economics for Hard Times

  By Abhijit V. Banerjee and Esther Duflo

  Reviewed by KEMAL DERVIȘ

Straight Talk

IMF LEADERSHIP ON KEY GLOBAL ISSUES

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

• A Regulatory Approach to Fintech

  

  We must guard against emerging risks without stifling innovation

  Christine Lagarde, IMF Managing Director

F&D Video Channel

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