Featured Articles

THE ECONOMICS OF CLIMATE

Climate Change and Financial Risk

Central banks and financial regulators are starting to factor in climate change

BY Pierpaolo Grippa, Jochen Schmittmann, and Felix Suntheim

• Investing in Resilience

  Disaster-prone countries are strengthening their ability to withstand climate events

  BY Bob Simison

• Reaping What We Sow

  Smart changes to how we farm and eat can have a huge impact on our planet

  BY Nicoletta Batini

• Nature's Solution to Climate Change

  A strategy to protect whales can limit greenhouse gases and global warming

  By Ralph Chami, Thomas Cosimano, Connel Fullenkamp, and Sena Oztosun

People in Economics

City Slicker

Edward Glaeser

Harvard’s Edward Glaeser sees urbanization as a path to prosperity

By Chris Wellisz

• Atif Mian

  A Princeton economist, who sees the fight against inequality as a moral imperative

  By Hyun-Sung Khang

• Susan Athey

  A Stanford economist who brings machine learning to economics

  By Bob Simison

• Branko Milanovic

  A leading scholar of inequality

  By Chris Wellisz

Series Archive

Point of View

OP-ED PIECES FROM LEADING THINKERS

Fifty Shades of Green

The world needs a new, sustainable financial system to stop runaway climate change

By Mark Carney

• A Greener Future for Finance

  The successes and challenges of green bonds offer lessons for sustainable finance

  By Afsaneh Beschloss and Mina Mashayekhi

• Tackling Inequality

  How can we address inequality in the 21st century? Start with climate change

  By Lyndsay Walsh

• A New Way to Address Inequality

  A focus on cities can improve upward economic mobility

  By Tarik Gooptu

In the Trenches

One-on-one with Policymakers

Going against the Tide

Brazil's Ilan Goldfajn explains why central bankers ought to follow their convictions

By Andreas Adriano

• Convincing the Markets

  Peter Praet revisits the ECB's unconventional monetary policy response to the euro crisis

  By Rebecca Christie

• PM Trudeau on Climate, Cyber and Equality

  A wide-ranging interview with Canadian Prime Minister Justin Trudeau

  By Rahim Kanani

• Open for Business

  Clare Akamanzi explains how Rwanda is encouraging private sector development

  By Andrew Kanyegirire

Currency Notes

Ahead of His Time

Mathematician and computer science pioneer Alan Turing will appear on UK currency

By Melinda Weir

Picture This

Gimme Shelter

Counting wealth in offshore tax havens boosts estimates of inequality

By Lijun Li and Chris Wellisz

• Gap at a Glance

  Women still lag in many areas, while glaring disparity emerges in the technology field

  By Lijun Li

• On the Move

  Migration, with its upsides and downsides, is increasing globally

  By Jia Feng

Online Exclusives

Menno Snel on Tackling Tax Avoidance

The Dutch Finance Ministry is working to stamp out tax avoidance.

By Maureen Burke

• David Rubenstein on Profit and Purpose

  Carlyle Group cofounder David M. Rubenstein on a new corporate reality

  By Rahim Kanani

• Kevin Rudd on Climate Change

  One-on-one with former Australian Prime Minister Kevin Rudd

  By Rahim Kanani

• PM Trudeau on Climate, Cyber and Equality

  A wide-ranging interview with Canadian Prime Minister Justin Trudeau

  By Rahim Kanani

Also in This Issue

Hidden Giants

It's time for more transparency in the management and governance of national oil companies

By David Manley, David Mihalyi, and Patrick R. P. Heller

• Grass Roots

  From Brazil to New Zealand, local activists show that small-scale initiatives can make a difference

  By Daphne Ewing-Chow, Anna Jaquiery, Denise Marín, Ashlin Mathew, and David Smith

• The SDR's Time Has Come

  Rethinking the Special Drawing Right could bolster the IMF's role in the global financial safety net

  By José Antonio Ocampo

F&D Podcast Channel

The Value of Whales and Every Other Breath

How the carbon capture potential of whales and supporting international efforts to restore whale populations around the world is one of the simplest ways to fight climate change.

Ralph Chami and Michael Fishbach

Markets and State Leave Community Behind

In his latest book, Raghuram Rajan examines the relationship between the state, markets and communities, and argues localism is the answer to globalization.

Raghuram Rajan

Why A Carbon Tax Makes Sense

When it comes to environmental policies, Ian Parry argues none are more effective than carbon taxes.

Ian Parry

Back to Basics

Current Economic Issues Explained

What Is Stress Testing?

Checking the health of banks is crucial to financial stability

By Martin Čihák, Hiroko Oura, and Liliana Schumacher

• What Is Carbon Taxation?

  Carbon taxes have a central role in reducing greenhouse gases

  By Ian Parry

  How Fiscal Policies Can Help Save the Planet

• Does a Minimum Wage Help Workers?

  An overly generous wage may prompt employers to cut jobs

  By Piyaporn Sodsriwiboon and Gabriel Srour

  Minimum wage

• What Is Universal Basic Income?

  Proponents hail simplicity and equity; skeptics worry about fiscal cost and incentives

  By Maura Francese and Delphine Prady

Series Archive

Book Reviews

EXPERTS REVIEW THE LATEST BOOKS

The Third Pillar: How Markets and the State Leave the Community Behind

By Raghuram Rajan

Reviewed by PRAKASH LOUNGANI

• The Bretton Woods Agreements

  By Naomi Lamoreaux and Ian Shapiro, eds.

  Reviewed by LORD SKIDELSKY

• The Central Asian Economies in the Twenty-First Century: Paving a New Silk Road

  By Richard Pomfret

  Reviewed by MAMUKA TSERETELI

Straight Talk

IMF LEADERSHIP ON KEY GLOBAL ISSUES

The Adaptive Age

No institution or individual can stand on the sidelines in the fight against climate change

Kristalina Georgieva

• Updating Bretton Woods

  

  Renewed commitment to global economic cooperation is needed

  Christine Lagarde

• Cleaning Up

  

  Countries are advancing efforts to stop criminals from laundering their trillions

  Rhoda Weeks-Brown

• A Regulatory Approach to Fintech

  

  We must guard against emerging risks without stifling innovation

  Christine Lagarde, IMF Managing Director

F&D Video Channel

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