The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Africa continues to suffer from the effects of climate change in many ways. Records show that the continent's carbon dioxide (CO2) emissions have seen tremendous upward adjustments over the past decades. While international tourism and renewable energy have been touted as sources of reducing CO2...

Employing propensity score reweighting and event-based strategies, we provide evidence that sustained real exchange rate (RER) misalignments have significant effects on economic development: positive on GDP per capita and capital stock in the case of undervaluation, and negative on the capital...

Volatility increases the risk of exchange rate, and the risk of exchange rate refers to losing money due to fluctuations in the exchange rate. Thus, it significantly impacts the country's economic development stability or sustainability, as making investment and trade decisions under volatile...

Is there an optimal monetary/exchange rate system for Latin America? An analysis of the evidence leads us to conclude that "one size does not fit all", but that with the exception of a few countries, more rather than less exchange rate flexibility is desired. However, facing a set of constraints...