1 “...This paper focuses on the payments system reforms and monetary policy in emerging market economies...”

2 “..., there is increased financial volatility in emerging market economies, and increases in the cost of capital...”

3 “..., there is increased financial volatility in emerging market economies, and increases in the cost of capital...”

4 “... extent by appreciably weaker domestic demand and slower growth in several key emerging market economies...”

5 “... and implications of recent trends, including increased financial volatility in emerging market economies, lower...”

6 “... and implications of recent trends, including increased financial volatility in emerging market economies, lower...”

7 “... fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing...”

8 “... fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing...”

9 “... fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing...”

10 “... fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing...”

11 “... macroeconomic risks are building in emerging market economies. In advanced economies, the handoff from public...”

12 “... advanced and emerging market economies...”

13 “... advanced and emerging market economies...”

14 “... policy mix in advanced economies are complicating policymaking in emerging market economies. Chapter 3...”

15 “... policy mix in advanced economies are complicating policymaking in emerging market economies. Chapter 3...”

16 “... crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including...”

17 “... crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including...”

18 “... crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including...”

19 “... crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including...”

20 “... negative surprises to economic activity in a few emerging market economies, notably India, which led to a...”