This paper identifies the institutional and operational requisites for transitions to floating exchange rate regimes. In particular, it explores key issues underlying the transition, including developing a deep and liquid foreign exchange market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the context of a new monetary policy framework, and building the capacity of market participants to manage exchange rate risks and of supervisory authorities to regulate and monitor them. It also assesses the factors that influence the pace of exit and the appropriate sequencing of exchange rate flexibility and capital account liberalization.

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"Out of the Box is part memoir and part investment strategy guide. Throughout his career, author Mark Grant has often taken a contrarian view. Rather than working on Wall Street or at the Chicago Mercantile Exchange, he's spent his time elsewhere on Main Street. He's very critical of all the "noise" in the markets which he feels leads investors to make poor choices in their holdings. He offers important rules preserving capital and making long-term profits."--

Bolivia has achieved noteworthy success over the past 15 years in raising incomes, reducing poverty, and maintaining macroeconomic stability by deploying commodity revenues to finance transfers, public investment, and state-led development, using an exchange rate peg as a policy anchor. However, with the end of the commodity boom in 2014, fiscal deficits have grown and reserves have fallen. One route to restoring long-run sustainability would be to combine fiscal consolidation with a switch to a floating exchange rate. However, a preference for maintaining the peg could be accommodated with adjustments elsewhere in the policy framework. Employing a detailed dynamic stochastic general equilibrium model of the Bolivian economy, this study assesses the long-run sustainability and relative benefits of alternative policy combinations, and calculates optimal adjustment paths for the transition from the present situation to the steady state. It concludes that continued adherence to a fixed-rate regime, while not optimal, is feasible, if supported by a larger fiscal effort.

This paper identifies the institutional and operational requisites for transitions to floating exchange rate regimes. In particular, it explores key issues underlying the transition, including developing a deep and liquid foreign exchange market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the context of a new monetary policy framework, and building the capacity of market participants to manage exchange rate risks and of supervisory authorities to regulate and monitor them. It also assesses the factors that influence the pace of exit and the appropriate sequencing of exchange rate flexibility and capital account liberalization.

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"Profoundly moving . . . Will take your breath away." —Kathleen Glasgow, author of Girl in Pieces "Give this to all your friends immediately . . . It tackles mental health, depression, sexual identity, and anxiety with beauty and empathy." —Cosmopolitan.com A Kirkus Reviews Best Book of the Year A Chicago Public Library Best of the Best of the Year Biz knows how to float, right there on the surface—normal okay regular fine. She has her friends, her mom, the twins. She has Grace. And she has her dad, who shouldn't be here but is. So Biz doesn't tell anyone anything—not about her dark, runaway thoughts, not about kissing Grace or noticing Jasper, the new boy. And not about seeing her dad. Because her dad died when she was seven. But after what happens on the beach, the tethers that hold Biz steady come undone. Her dad disappears and, with him, all comfort. It might be easier, better, sweeter to float all the way away? Or maybe stay a little longer, find her father, bring him back to her. Or maybe—maybe maybe maybe—there's a third way Biz just can't see yet. Debut author Helena Fox tells a story about love, grief, and inter-generational mental illness, exploring the hard and beautiful places loss can take us, and honoring those who hold us tightly when the current wants to tug us out to sea. "I haven't been so dazzled by a YA in ages." —Jandy Nelson, author of I'll Give You the Sun (via SLJ) "Mesmerizing and timely." —Bustle "Nothing short of exquisite." —PopSugar "Immensely satisfying" —Girls' Life * "Lyrical and profoundly affecting." —Kirkus (starred review) * "Masterful...Just beautiful." —Booklist (starred review) * "Intimate...Unexpected." —PW (starred review) * "Fox writes with superb understanding and tenderness." —BCCB (starred review) * "Frank [and] beautifully crafted." —BookPage (starred review) "Deeply moving...A story of hope." —Common Sense Media "This book will explode you into atoms." —Margo Lanagan, author of Tender Morsels "Helena Fox's novel delivers. Read it." —Cath Crowley, author of Words in Deep Blue "This is not a book; it is a work of art." —Kerry Kletter, author of The First Time She Drowned "Perfect...Readers will be deeply moved." —Books+Publishing

The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.