NEW: In new research, Bruno Pellegrino and @damiencapelle.bsky.social find that while global capital markets have grown dramatically over the past five decades and reached new jurisdictions, the uneven pace of financial liberalization has failed to reallocate capital to lower-income countries.

Check out our new paper on “Optimal Interest Rate Tightening with Financial Fragility” with Ken Teoh @intmonetaryfund.bsky.social www.imf.org/en/Publicati...

A thread 🧵on a very innovative policy proposal by the #Carter admin: a tax on price increases, called TIP. #JimmyCarter Context: rising inflation due to oil price shocks ⚡️, persistent wage-price spirals 🌀 and passive monetary policy 😴.