POLICY NOTE | Economic policy debate in the United States and other developed economies has been dominated by talk of lowering fiscal deficits through spending reductions.

WORKING PAPER | The authors offer results of a non-parametric estimate of the US wage- Phillips Curve as a simplified version of the model of the wage-price spiral by Flaschel and Krolzig.

WORKING PAPER | This paper explains equilibrium concepts appropriate to modeling an un-corrected negative externality, such as climate change.

WORKING PAPER | In this paper, Taylor explores the main drivers of climate change on a macro level, and also by country's level of income.

POLICY NOTE | The Millennium Development Goals effort can only be successful if it puts economies on paths to sustained growth.

WORKING PAPER | This paper discusses patterns of net borrowing by major “institutional sectors” in the U.S. economy.

POLICY NOTE | Projected welfare gains from trade liberalization are derived from global computable general equilibrium (CGE) models, which are based on highly unrealistic assumptions.

POLICY NOTE | In this context, “macro imbalances” are trends or cycles in net borrowing flows that may be strong enough to threaten the system’s stability unless offsetting policies are put into place.