This note outlines a scheme for mobilizing financing to help developing countries confront the challenges posed by climate change. The idea is to create a “Green Fund†with the capacity to raise resources on a scale commensurate with the Copenhagen Accord ($100 billion a year by 2020)....

In a world of increasing capital mobility and broadening and more diversified trade, many (but not all) developing and transition economies are likely to find it desirable to move from relatively fixed exchange rate regimes to regimes of greater exchange rate flexibility. This paper suggests...

This paper surveys some of the principal monetary policy issues facing countries of the former U.S.S.R. The emphasis is on the immediate problem of imposing financial discipline in these economies, to bring down inflation quickly and decisively. Possible options for the essential nominal anchor...

A rules-based fiscal framework, such as the EU’s Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP’s adoption, shortcomings remain. These, however, are rooted in the policies rather than the rules,...

This paper presents a simple semiannual model of world merchandise trade disaggregated by commodity class and by country or country grouping. It is designed principally to estimate the responsiveness of merchandise trade to variations in income and activity levels in the industrial countries....

This paper aims to present some first approximations as to the effects of past exchange rate changes on the foreign trade of France, Germany, the Netherlands, and the United Kingdom. The essential feature of the methodology is the attempt to eliminate from the foreign trade data of these...