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Giovanni Peri: Immigration Answer to Demographic Dilemma March 2020 While the immigration debate tends to focus on culture, identity and potential economic benefits, Giovanni Peri says demographics are the Achilles' heel of the global North. Peri is Director of the Global Migration Center at the University of California, Davis, and in this podcast, he says immigration policies that allow larger numbers of immigrants will help stabilize population growth in the aging advanced economies of the North. Peri's article Immigrant Swan Song is published in the March 2020 issue of Finance and Development magazine. Follow us @imf_podcast Kristalina Georgieva and Lord Nicholas Stern Talk Climate Mitigating the effects of climate change takes a multifaceted approach with economic policy playing a pivotal role. In this podcast, we hear from two influential people at the very center of where economic and environmental policies meet. IMF Managing Director, Kristalina Georgieva and Lord Nicholas Stern, of the London School of Economics, discuss the significance of the Special Report on Climate Change published in 2018 by the Intergovernmental Panel on Climate Change (IPCC), and how financial institutions can help countries live up to their Paris accord pledges to reduce carbon emissions. Nicholas Stern is Chairman of LSE's Grantham Research Institute on Climate Change and author of the Stern Review on the Economics of Climate Change published in 2006.

On Board with More Women in Leadership By Kristalina Georgieva and Louise Levonian Where are all the women? It is a question we shouldn’t have to ask in 2020. But we do. Why? Because there are simply too few women in leadership positions all over the world. On the eve of International Women’s Day and as we approach the 100th [...]

Dear Colleague, What would you say if I told you that 80 will soon be the new 60? For the past several months, the F&D team has been working with some of the world's leading authorities on population trends, health, aging, migration, fertility rates and growth. These experts, inside and outside the IMF, specialize in the economic impact of changing demographics. In that vein, we are excited to launch the March 2020 issue—The Long, Good Life: Demographics and Economic Well-Being. FEATURED ARTICLES: Harvard’s David E. Bloom discusses how demographics can be a potent driver of the pace and process of economic development in “Population 2020.” In “The Long, Good Life,” London Business School’s Andrew Scott explains why longer, more productive lives will mean big changes to the old rules of aging. Poh Lin Tan of the National University of Singapore digs deeper into Singapore’s experience in trying to raise its fertility rate, and draws out lessons for other countries in “Reversing Demographic Decline.” In “Shrinkanomics: Lessons from Japan,” Gee Hee Hong and Todd Schneider of the IMF discuss why Japan is the world’s policy laboratory for dealing with an aging, shrinking population. In Europe’s newest states, emigration compounds the problem of aging populations, writes Maria Petrakis in "Eastern Europe's Exodus." Giovanni Peri of the University of California, Davis, writes about how immigration can solve the demographic dilemma, but not without the right policies in “Immigrant Swan Song.” In “Getting Older but Not Poorer,” David Amaglobeli, Era Dabla-Norris, and Vitor Gaspar of the IMF argue that as societies age worldwide, pensions and public policies must adapt. Lawrence H. Summers of Harvard University writes about the need for new approaches to deal with sluggish growth in “Accepting the Reality of Secular Stagnation.” In addition to the focus of this issue, we have a number of other pieces including a stunning youth slideshow featuring individuals from India, Morocco and Uganda, a new video series featuring young women from Brazil, Ethiopia and South Korea, an interview with Somalia’s finance minister Abdirahman Dualeh Beileh, an in-depth profile of Wharton economist and founder of modern pension research Olivia S. Mitchell, why solar power is critical to meeting Africa's energy needs, and an explainer about how interest rates can be negative. We also have three new book reviews: Good Economics for Hard Times by Abhijit V. Banerjee and Esther Duflo, Capitalism, Alone: The Future of the System That Rules the World by Branko Milanovic, and Narrative Economics: How Stories Go Viral & Drive Major Economic Events by Robert J. Shiller. And finally, with IMF Managing Director Kristalina Georgieva recently declaring that uncertainty is the new normal, it seems fitting to spotlight the IMF's new World Uncertainty Index. This new data set allows us to examine for the first time the historical evolution of uncertainty around the globe. Stay tuned as every week I'll dig deeper into each article above and more.  Thank you again for your interest in F&D. I sincerely hope you find this jam-packed issue insightful, engaging and action-oriented. Take good care,

Rahim Kanani Digital Editor, F&D Magazine International Monetary Fund rkanani@imf.org P.S. This issue will soon be online in pусский, عربي, español, français, 日本語, and 中文.