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Arts and Humanities --- History --- policy analysis --- policy theory --- international policy-making --- public administration --- public policy --- Politics --- Public administration

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This paper assesses the economic effects of climate policies on different regions and countries with a focus on external adjustment. The paper finds that various climate policies could have substantially different impacts on external balances over the next decade. A credible and globally coordinated carbon tax would decrease current account balances in greener advanced economies and increase current accounts in more fossil-fuel-dependent regions, reflecting a disproportionate decline in investment for the latter group. Green supply-side policies—green subsidy and infrastructure investment—would increase investment and saving but would have a more muted external sector impact because of the constrained pace of expansion for renewables or the symmetry of the infrastructure boost. Country characteristics, such as initial carbon intensity and net fossil fuel exports, ultimately determine the current account responses. For the global economy, a coordinated climate change mitigation policy package would shift capital towards advanced economies. Following an initial rise, the global interest rates would fall over time with increases in the carbon tax. These external sector effects, however, depend crucially on the degree of international policy coordination and credibility.

Climate --- Environmental Taxes and Subsidies --- Global Warming --- International Policy Coordination and Transmission --- Natural Disasters and Their Management --- Open Economy Macroeconomics --- Redistributive Effects --- Taxation and Subsidies: Externalities

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This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds that Granger-causality either stems from German to other European interest rates (Belgium, France, Spain, and the U.K.) or is bidirectional (Denmark and the Netherlands). When allowance is made for the influence of U.S. interest rates, the pattern of Granger causality is predominantly bidirectional.

Capacity --- Capital --- Currency --- Exchange rates --- Foreign Exchange --- Foreign exchange --- Intangible Capital --- International Policy Coordination and Transmission --- Investment --- Investments: General --- Macroeconomics --- National accounts --- Return on investment --- Saving and investment --- Germany

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This paper estimates the exchange rate pass-through to consumer price inflation in Angola and Nigeria, with particular emphasis on the changes of the pass-through over time. Even though the two countries share smilar dependence on oil exports, this paper reveals different results. For Angola, the long-run exchange rate pass-through to prices is high, though it has weakened in recent years reflecting the de-dollarization of the economy. In Nigeria, there is no stable long-run relationship between the exchange rate and prices, and changes in the exchange rate do not have a significant pass-through effect on inflation. However, the passthrough effect on core inflation is significant.

Inflation (Finance) --- Foreign Exchange --- Inflation --- Macroeconomics --- Price Level --- Deflation --- Monetary Policy --- International Policy Coordination and Transmission --- Currency --- Foreign exchange --- Import prices --- Exchange rate pass-through --- Consumer price indexes --- Exchange rates --- Prices --- Imports --- Price indexes --- Angola

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We understand very little about the billions of dollars that flow throughout the world from migrants back to their home countries. In this rigorous and illuminating work, Matt Bakker, an economic sociologist, examines how these migrant remittances—the resources of some of the world’s least affluent people—have come to be seen in recent years as a fundamental contributor to development in the migrant‑sending states of the global south. This book analyzes how the connection between remittances and development was forged through the concrete political and intellectual practices of policy entrepreneurs within a variety of institutional settings, from national government agencies and international development organizations to nongovernmental policy foundations and think tanks.

Economic development --- Economic development. --- Emigrant remittances --- Emigration and immigration --- Emigrant remittances. --- Immigrant remittances --- Remittances, Emigrant --- Foreign exchange --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic aspects. --- Mexico --- international policy --- economic development --- sustainable development --- emigrant remittances --- migration --- Directo a México --- Financial institution --- Neoliberalism --- North America --- United States