The institutional environments in which central banks operate have become more alike over the past decade. The author examines the monetary policy operating procedures of the Federal Reserve and central banks in Japan, Germany, the United Kingdom, Canada, and Switzerland. In particular, he...

U.S. exports to developing countries have grown remarkably in recent years, far outpacing our sales increases to the industrial world. The author seeks explanations for this strong performance in the traditional determinants of export growth—relative prices and income growth—and in other...