Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department

In this speech, Christopher Allsopp discusses UK monetary policy in the context of emerging global and domestic imbalances, outlining the kinds of responses that should be anticipated under the present monetary policy framework. Negative shocks from the world economy bear particularly hard on...