Fuel Tax Incidence and Supply Conditions
In this paper, we provide new evidence regarding the pass-through of diesel and gasoline taxes to prices, and how the estimated pass-through depends on a variety of supply conditions including a measu
Research
Growth After the Crisis
This book has been prepared for the Commission on Growth and Development to evaluate the prospects for economic growth in developing countries in the wake of the world financial and economic crises of
The Remnibi Since 2005
Thanks to deft diplomatic footwork, a US-China confrontation over the renminbi has been avoided – or at least postponed. This is a very good thing.
The Forward Market in Emerging Currencies: Less Biased than in Major Currencies
Many studies have replicated the finding that the forward rate is a biased predictor of the future change in the spot exchange rate.
Stunning IMF Policy Reversal Sets the Stage for Robin Hood
In the world of economics and finance, revolutions occur rarely and are often detected only in hindsight. But what happened on Feb.
Comment on ‘China’s Current Account and Exchange Rate,’ by Yin-Wong Cheung, Menzie Chinn and Eiji Fuji
In less than three decades, China has grown from playing a negligible role in world trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs,
A Perplexed Economist Confronts 'Too Big to Fail'
This paper, written for a conference at the Fordham University Law School, examines various facets of the “too big to fail” debate.
No Easy Way Out of the Chinese Dilemma
Thirty years ago, China had a tiny footprint on the global economy and little influence outside its borders, save for a few countries with which it had close political and military relationships.
The Natural Resource Curse: A Survey
It is striking how often countries with oil or other natural resource wealth have failed to grow more rapidly than those without. This is the phenomenon known as the Natural Resource Curse.
Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes
A new technique for estimating countries’ de facto exchange rate regimes synthesizes two approaches.
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