This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of...

Revealing the precise thresholds at which fluctuations in oil prices start to affect gross domestic product and its various components (consumption, investment, expenditure and exports) holds significant implications for policymakers in both oil-importing and oil-exporting countries. Existing...

Intro -- Contents -- I. INTRODUCTION -- II. THE GLOBAL AND HISTORICAL CONTEXT -- III. Balance of Payments Impact -- IV. FISCAL IMPACT -- V. LOOKING FORWARD-POSSIBLE VULNERABILITIES -- VI. CONCLUSIONS AND IMPLICATIONS FOR DEMAND FOR IMF RESOURCES -- APPENDIX I-COMPARISON TO OIL SHOCKS OF THE...

This paper provides a quantitative assessment of the economic contribution of unauthorized workers to the U.S. economy, and the potential gains from legalization. We employ a theoretical framework that allows for multiple industries and a heterogeneous workforce in terms of skills and...