Reducing carbon emissions is the most complex political and economic problem humanity has ever confronted. Coping with the Climate Crisis brings together leading experts from academia and policy circles to explore issues related to the implementation of the COP21 Paris Agreement and the challenges of accelerating the transition toward sustainable development. The book synthesizes the key insights that emerge from the latest research in climate-change economics in an accessible and useful guide for policy makers and researchers. Contributors consider a wide range of issues, including the economic implications and realities of shifting away from fossil fuels, the role of financial markets in incentivizing development and construction of sustainable infrastructure, the challenges of evaluating the well-being of future generations, the risk associated with uncertainty surrounding the pace of climate change, and how to make climate agreements enforceable. They demonstrate the need for a carbon tax, considering the issues of efficiently pricing carbon as well as the role of supply-side policies on fossil fuels. Through a range of perspectives from academic economists and practitioners in the public and private sectors who work either at the country level or under the auspices of multilateral organizations, Coping with the Climate Crisis outlines what it will take to achieve a viable, global climate-stabilization path.

Technology, demography, policies and institutions are some of the forces that affect commodities such as energy resources, metals, and food. This book, based on research in the Commodities Unit of the IMF's Research Department, explores the interplay of these various forces across different commodities markets. Readers will find rich and coherent analysis of the forces driving commodity markets over the medium run and their interaction with the global economy. This collection of IMF research takes a fresh look at the many issues affecting commodity markets by drawing lessons from recent historical developments including the collapse in oil prices and the Paris climate accord. Chapters discuss how technological innovation shapes commodity prices and, in particular, how the innovation cycle is intimately linked to oil prices. The authors use the natural gas markets to show how geography, geopolitics and energy policy can influence trade patterns and the mix of energy resources used within a given area. The book discusses the importance of technological evolution and the domestic and international implications of the climate accord in shaping the energy transition from fossil fuels to clean(er) energy. The authors documents how demand for metals shifted from "West" to "East" while supply shifted from "North" to "South"-on account of the spectacular rise of China and large resource finds in Latin America and Africa.

In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food and fuel prices, with the threat of millions of people being pushed into poverty around the globe. The risk of continued food price volatility is a systemic challenge, and a failure in one country has been shown to have a profound impact on entire regions. This volume addresses the challenges of commodity price volatility for low-income countries and explores some macroeconomic policy options for responding to commodity price shocks. The book then looks at inclusive growth policies to address inequality in commodity-exporting countries, particularly natural resource rich countries. Perspectives from the Middle East and North Africa, sub-Saharan Africa, emerging Asia, and Mexico are presented and, finally, the role of the international donor community is examined. This volume is a must read for policymakers everywhere, from those in advanced, donor countries to those in countries with the poorest and most vulnerable populations.

Countries with an abundance of natural resources, many of which are in sub-Saharan Africa, often show a record of relatively poor economic performance compared with non-resource-rich countries. The chapters in this volume explore the potential challenges to countries with abundant natural resources and ways to manage these challenges so as to reap the benefits of resource wealth while avoiding the pitfalls.