Working Papers

Global Interdependence Center Sixth Annual Debt Restructuring Conference

The priority should be to conclude debt restructurings swiftly and to clear paths for the global transfers from rich to poor countries that must take place if the world is to have any chance of reversing global warming and the climatic changes that are an existential threat. The existing restructuring frameworks are adequate for countries above the median score of the Human Development Index (HDI), but the outstanding debt of countries below the median should be written down by a trust fund financed by donations from rich countries.

Development and Stabilization in Small Open Economies - Presentation based on the book

Policy makers in small open economies continue to manage exchange rates as though there is a relationship between the US dollar value of the domestic currency (if they have one) and the performance of the economy. This paper, which presents some essential messages of my recent book Development and Stabilization in Small Open Economies, explains why that is not the case.