of the world. The intraregional exchange rate variability is thus latent. A two-step procedure is developed to measure …

The world economy is going through its biggest transformation in a relatively short space time. There have been many … seems little understood. In turn, there has been little preparation for, or adjustment to, this changing world, though if …. We highlight the dramatic degree of the shifts taking place in world GDP and trade and include fresh projections of what …

, the U.S. real interest rate and real exchange rate, U.S. GDP growth, and world commodity prices) that explain much of the …