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Raj Chetty

Chris Wellisz profiles Raj Chetty, who is reshaping the study of social mobility with big data

Ms. Laura Wallace

The September 2007 issue of F&D looks at the growth of cities and the trend toward urbanization. Within the next year, for the first time in history, more than 50 percent of the world's population will be living in urban rather than rural areas. What are the economic implications of this urban revolution? Economists generally agree that urbanization, if handled well, holds great promise for higher growth and a better quality of life. But as the lead article tells us, the flip side is also true: if handled poorly, urbanization could not only impede development but also give rise to slums. Other articles in this series look at poverty as an urban phenomenon in the developing world and the development of megacities and what this means for governance, funding, and the provision of services. Another group of articles discusses the challenge of rebalancing growth in China. 'People in Economics' profiles Harvard economist Robert Barro; 'Country Focus' looks at the challenges facing Mexico, and 'Back to Basics' takes a look at real exchange rates.

Matthew Maury Kishore Mahbubani and Ramesh Ramanathan Swati Ramanathan

The September 2007 issue of F&D looks at the growth of cities and the trend toward urbanization. Within the next year, for the first time in history, more than 50 percent of the world's population will be living in urban rather than rural areas. What are the economic implications of this urban revolution? Economists generally agree that urbanization, if handled well, holds great promise for higher growth and a better quality of life. But as the lead article tells us, the flip side is also true: if handled poorly, urbanization could not only impede development but also give rise to slums. Other articles in this series look at poverty as an urban phenomenon in the developing world and the development of megacities and what this means for governance, funding, and the provision of services. Another group of articles discusses the challenge of rebalancing growth in China. 'People in Economics' profiles Harvard economist Robert Barro; 'Country Focus' looks at the challenges facing Mexico, and 'Back to Basics' takes a look at real exchange rates.

International Monetary Fund. External Relations Dept.

The September 2006 World Economic Outlook (WEO) projects strong global growth of 5.1 percent in 2006, slowing slightly to 4.9 percent in 2007, both numbers up from the WEO’s spring forecast. Growth is becoming more balanced, Raghuram Rajan, Director of the IMF’s Research Department, said when presenting the WEO projections at a press conference on September 14 during the Annual Meetings in Singapore. The U.S. economy is beginning to slow; emerging markets and developing markets, led by China at 10.0 percent and India at 8.3 percent, are delivering impressive growth rates; the euro area has gained momentum; and Japan’s expansion continues. However, after four years of strong growth, risks to the outlook are clearly tilted to the downside.

Michael A. Cohen

How will national and local planners face the challenge posed by urban growth in the less developed world? The author outlines the extent of the problem and some methods of tackling it.

Enrique Peñalosa

Stressing the important role of human settlements in national development strategies, the Secretary-General of Habitat—the United Nations Conference on Human Settlements—outlines the basis for a new approach toward the development process.

International Monetary Fund. External Relations Dept.

This paper highlights that agreement on an important package of reforms of vital significance to the future of the international monetary system was reached at a meeting of the Interim Committee of the Board of Governors of the IMF on the International Monetary System in Kingston, Jamaica, on January 7–8, 1976. The reforms include a substantial quota increase for almost all members, as well as an increase in access to the IMF’s resources for all member countries in the period prior to implementation of the increase in their IMF quotas, and some other amendments.

Martin L. Loftus

THE SELECTED REFERENCES presented in this bibliography, covering books, pamphlets, and periodical articles published since the Fund was organized in 1946, include publications describing the organization and functions of the International Monetary Fund and also comments and analyses of its activities. Since this is not a bibliography of international economics, writings on various aspects of this subject are included only when they contain material on the Fund. Although most of the official publications of the Fund are included, this is not intended to be a complete bibliography of such publications.