“...In Gaining Currency, leading China scholar Eswar S. Prasad describes how the renminbi (RMB) is taking the world by storm and explains its role in reshaping...”

“...We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The...”

“...In the mid-1990s, mainstream economists of nearly all stripes commonly recommended capital account liberalization—that is, allowing a free flow of funds in and...”

“...China has achieved tremendous economic progress in the last three decades, but there is much work to be done to make the economy resilient to large shocks,...”

“...This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new...”

“...In this paper, we develop an aggregation procedure using time-varying weights for constructing the common component of international economic fluctuations. The...”

“...This article documents the main stylized features of macroeconomic fluctuations for 12 developing countries. It presents cross-correlations between domestic...”

“...In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price...”