Global Economic Prospects 2015

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Two Distinct Windows for Recent Emerging Market Currency Movements

Jamus Lim's picture

Two distinct phases have characterized the recent movement of emerging market currencies. The first phase was a sharp decline when the crisis first occurred, as capital flight into the safety of the dollar led to a significant depreciation of emerging market currencies vis-à-vis the dollar.

The Case for an Extraordinary Windfall Tax on the Financial Sector

Jamus Lim's picture

Fixing bankers' compensation is all the rage these days. The latest salvo in the ongoing tussle is the December joint proposal by France and Britain to impose a windfall tax on the bonuses of bankers, along with the crisis "responsibility fee" suggested by the United States.

A Painful Recovery

Hans Timmer's picture

The tone of the World Bank’s newly published Global Economic Prospects 2010 is somber, with a lot of concern about vulnerabilities and unsolved problems. That might be surprising, because the report also predicts a widespread, global recovery (global growth of 2.7 percent this year and 3.2 percent next year) after the disastrous 2.2 percent contraction of global output in 2009. Is there no reason to celebrate?

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