The measurement of the pion form factor and, more
generally, of the cross section for electron–positron annihilation
into hadrons through the radiative return has become an important
task for high luminosity colliders such as the $\Phi$- or
$B$-meson factories. For a detailed understanding and analysis
of this reaction, the construction of a Monte Carlo program,
PHOKHARA, has been undertaken. A brief overview of
the most recent developments is presented, which include the combination
of initial- and final-state radiation in the case of two-pion
production. Baryon pair production is now included and
the pion form factor is extended into the region of large $Q^2$.
A model for the kaon
form factor is discussed which is
fitted to $K^+K^-$ and $K^0\bar{K}^0$ data and which
leads to predictions for the $\tau$-decay into $K^-K^0\nu$.
