Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits...

This study addresses a fundamentally new feature of the contemporary world economy: the simultaneous buildup of very large public deficits and debt positions in virtually all of the advanced high-income countries. The recent global financial crisis sharply accelerated this fiscal deterioration,...

Intro -- Contents -- Preface -- Acknowledgments -- The Global Outlook for Government Debt over the Next 25 Years: Implications for the Economy and Public Policy -- Overview -- Introduction -- Projected Paths of Government Debt -- The Burden of Debt and Fiscal Limits -- Paths to Safety --...