Covers such topics as fiscal policy, monetary policy, global business cycles, currency carry trades, asymmetric shocks in currency unions, and studies of the recent financial crisis.About the Author: Richard H. Clarida is the C. Lowell Harriss Professor of Economics and professor of international affairs at Columbia University and a research associate of the NBER. Francesco Giavazzi is professor of economics at Bocconi University, a regular visiting professor at the Massachusetts Institute of Technology, and a research associate of the NBER.