By Andrés Fernández, Daniel Hernaiz and Andrew Powell Most of the largest economies in Latin America have adopted inflation targeting [1]. A huge advantage of having such an anchor, and not relying on a fixed exchange rate to curb diverging expectations, is that the exchange rate is then determined by the market and can adjust to shocks. Given the large shocks the region has … [Read more...] about Interest Rates are Falling, But Not So Fast
Soft Skills Are, in Fact, Hard Skills
By Pablo Bachelet* I have two sons. One majored in history. The other graduated with a degree in Spanish and French literature. Despite my urgings – or maybe because of them – neither opted to study something scientific or mathematical, the so-called STEM fields that underpin modern economies. Should I worry? Every parent wants their child to be happy doing what they like. … [Read more...] about Soft Skills Are, in Fact, Hard Skills
When Government Capacity Creates Economic Options
Government capacity is in part the ability to hit the long ball, to have long-term policies that look beyond the next election and the next change in administration. In economic policy, as in social policy and so many other areas, it can make all the difference. Unfortunately, in too many countries of Latin America and the Caribbean winning the next election and installing … [Read more...] about When Government Capacity Creates Economic Options
Wielding the Scientific Method For a More Skilled Population
From the 554-foot high Washington Monument down Constitution Avenue towards the United States Congress in Washington, D.C., they marched by the thousands: physicists, biologists, chemists, zoologists, economists, and scientists from virtually every other discipline. The first ever March for Science April 22, along with its teach-ins, and its companion events in hundreds of … [Read more...] about Wielding the Scientific Method For a More Skilled Population
When It Comes to Education, Computers Can Be a Dangerous Temptation
For enthusiasts of computers in the classrooms, a 2015 report by the Organization for Economic Cooperation and Development (OECD) may have come as a rude surprise. Several OECD countries have invested heavily in information technology, the report found. But students in those countries didn't significantly improve their abilities in reading, mathematics and science as a result. … [Read more...] about When It Comes to Education, Computers Can Be a Dangerous Temptation