Cover -- Contents -- Foreword -- Acknowledgments -- Abbreviations and Acronyms -- Executive Summary -- Overview -- Part I. Monitoring global development progress -- Development progress over the MDG period has been impressive -- Despite solid development gains, significant work remains -- Amid...

This is the fourth of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which economists have access for studying both own-country and cross-country linkages. In...

In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...

This paper relates the inflationary impact of commodity price shocks across countries to a broad range of structural characteristics and policy frameworks over the period 2001-2010, using several approaches. The analysis suggests that economies with higher food shares in CPI baskets, fuel...

This paper analyses economic implications and the transmission mechanisms of different options for creating and using fiscal space. For creating fiscal space, we consider prioritizing expenditures, raising revenue, and scaled-up aid. Fiscal space is used for increasing health and education...

Features -- Booms, Busts, and Echoes -- Asia: Ready or Not -- Global Migration -- Can Europe Afford to Grow Old? -- Reform in Europe: What Went Right? -- Pension Challenges in and Aging World -- Investing in the Youth Bulge -- Aging in Financial Markets -- Gauging the Cost of Aging --...

Contents -- I. INTRODUCTION -- II. HOW GLOBALIZED IS LABOR? -- III. HOW HAS THE GLOBALIZATION OF LABOR AFFECTED WORKERS IN ADVANCED ECONOMIES -- IV. LABOR SHARE AND THE GLOBALIZATION OF LABOR: AN EMPIRICAL EXAMINATION -- V. THE STORY BEHIND THE DECLINE OF THE LABOR SHARE -- VI. LABOR...

Features -- Global Governance: New Players, New Rules -- Subprime: Tentacles of a Crisis -- Governing Global Trade -- Financial Crises of the Future -- Governing Global Health -- Point of View: Is the Global Health System Broken? -- Backcasting Latin America -- Africa's Missing Ingredients --...

Intro -- Contents -- Foreword -- Preface -- CONCEPTUAL FRAMEWORK -- I. Introduction -- Purposes of the Balance of Payments Manual -- Changes from the Fourth Edition -- Uses of Balance of Payments and International Investment Position Data -- Structure of the Manual -- II. Conceptual Framework of...