benefits also cross boundaries, providing a rationale for collective action facilitated by the international community. Yet, as … coordination. This paper discusses the obstacles to addressing these global risks effectively, highlighting their implications for …

This paper explores the role of foreign aid and remittance inflows in the mitigation of the effects of food price … results yield two important findings. First, remittance and aid inflows significantly dampen the effect of food price shocks … effects of food price shocks compared to the corresponding aid-to-GDP ratio …

bilateral distance, tariffs, and the quality of their exports. Under the assumption that trade costs are both ad valorem and per … smaller in magnitude for higher quality exports. We find strong support for the predictions of the model using a unique data …

) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce … output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary … policy framework-adopting IT and independent and transparent central banks-matters more for monetary transmission than …

shocks than the usual filtering techniques. It also produces smaller out-of-sample forecast errors for inflation. At the same …

interaction of these policies remain under debate, as does the motivation for using them. In this paper, quantile local … projections are used to estimate the entire distribution of future policy responses to portfolio flow shocks for 20 emerging …

We investigate the motives inflation-targeting central banks in emerging markets may have for intervening in foreign … exchange markets and evaluate the case for such interventions based on the existing literature. Our findings suggest that the … rationale for interventions depends on initial conditions and country-specific circumstances. The case is strongest in the …