Empirical econometric evidence shows that Mexico's simulated output recovery after a negative external shock was faster (a third as long) when the country's policymakers let the nominal foreign exchange rate float than when they fixed it, and much faster than in other developing countries that...

Intro -- Contents -- Acknowledgments -- Foreword -- Editor Biographies -- Acronyms -- A Comprehensive Development Agenda for The New Era Synthesis -- Una Agenda Integral de Desarrollo para La Nueva Era -- Fiscal Sustainability -- Growth and Competitiveness -- Poverty and Inequality -- A...