This paper examines the argument that the fixed exchange rate regime should be preferred to the flexible rate regime because the former allows risk sharing across countries while the latter does not. The analysis is performed in a two-country overlapping generations model, where markets are...

In Giving Kids a Fair Chance, Nobel Prize-winning economist James Heckman argues that the accident of birth is the greatest source of inequality in America today. Children born into disadvantage are, by the time they start kindergarten, already at risk of dropping out of school, teen pregnancy,...

The notion of global governance is widely studied in academia and increasingly relevant to politics and policy making. Yet many of its fundamental elements remain unclear in both theory and practice. This book offers a fresh perspective by analyzing global governance in terms of three major...

The notion of global governance is widely studied in academia and increasingly relevant to politics and policy making. Yet many of its fundamental elements remain unclear in both theory and practice. This book offers a fresh perspective by analyzing global governance in terms of three major...

Global public goods (GPGs)--the economic term for a broad range of goods and services that benefit everyone, including stable climate, public health, and economic security--pose notable governance challenges. At the national level, public goods are often provided by government, but at the global...

The global economic crisis of 2008–2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took...

Global public goods (GPGs)--the economic term for a broad range of goods and services that benefit everyone, including stable climate, public health, and economic security--pose notable governance challenges. At the national level, public goods are often provided by government, but at the global...

In the battle over health care reform we can try to fashion new policies based on old ideas--or we can acknowledge today’s demographic and economic realities. In Health Care Turning Point, health policy expert Roger Battistella argues that the conventional wisdom that dominates health policy...