This book provides a comprehensive and critical analysis of research outcomes on the equity home bias puzzle - that people overinvest in domestic stocks relative to the theoretically optimal investment portfolio.
In most of the currency crises of the 1990s, the largest output falls have occurred in those emerging economies with large currency mismatches, a phenomenon that occurs when assets and liabilities are denominated in different currencies such that net worth is sensitive to changes in the exchange rate.
The dollar rose by about 35 percent in real terms from 1995 through the end of 2001, supporting the booming US economy of the late 1990s but pushing the current account deficit to a record high of almost 5 percent of GDP.
This study reviews the literature on the contribution of low inflation to economic growth and the subsequent widespread adoption of inflation targeting as a monetary policy framework.
Based on a conference held in September 2005 on the future of the International Monetary Fund, this important new book includes an overview of the challenges facing the IMF today.
The global financial crisis produced an important agreement among regulators in 2010-11 to raise capital requirements for banks to protect them from insolvency in the event of another emergency.
For decades, economic policymakers have worshipped at the altar of combating inflation, reducing public deficits, and discouraging risky behavior by investors.
Spurred by the success of the first stress test of US banks toward the end of the global economic crisis in 2009, stress testing of large financial institutions has become the cornerstone of banking supervision worldwide.
In September 1985, emissaries of the world's five leading industrial nations-the United States, Britain, France, Germany, and Japan-secretly gathered at the Plaza Hotel in New York City and unveiled an unprecedented effort to correct the largest set of current account and exchange rate imbalances that had ever threatened the world economy.
The dispute over Chinese exchange rate policy within the United States has generated a series of legislative proposals to restrict the discretion of the US Treasury Department in determining currency manipulation and to reform the department's accountability to the Congress.
Assessing the potential benefits and risks of a currency unionLeaders of the fifteen-member Economic Community of West African States (ECOWAS) have set a goal of achieving a monetary and currency union by late 2020.
The colorful history of paper money before the Civil WarBefore Civil War greenbacks and a national bank network established a uniform federal currency in the United States, the proliferation of loosely regulated banks saturated the early American republic with upwards of 10,000 unique and legal bank notes.
Darroch believes that knowledge of how the activities of these banks in international markets removed growth constraints from both the banks and the economy is vital to understanding the development of Canadian banking and the Canadian economy.
One World Currency presents a serious study about the need for a single stable currency with timely, historical references and skillful economic analysis by noted economist Jose Rafael Abinader.
The UK economy is heading for a disastrous period of austerity and stagnation GDP growth is unsustainable, debt is increasing, inequality is widening and unemployment is high.
Over forty years after the formal end of colonialism, suffocating ties to Western financial systems continue to prevent African countries from achieving any meaningful monetary sovereignty.
Over forty years after the formal end of colonialism, suffocating ties to Western financial systems continue to prevent African countries from achieving any meaningful monetary sovereignty.
Money in the history of political thought, from ancient Greece to the Great Inflation of the 1970sIn the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies-money.
Essential reading for understanding the international economy-now thoroughly updatedLucid, accessible, and provocative, and now thoroughly updated to cover recent events that have shaken the global economy, Globalizing Capital is an indispensable account of the past 150 years of international monetary and financial history-from the classical gold standard to today's post-Bretton Woods "e;nonsystem.
An Economist Best Book of the YearA Financial Times Best Book of the YearA Foreign Affairs Best Book of the YearA ProMarket Best Political Economy Book of the YearOne of The Week's Ten Best Business Books of the YearA cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse.
How silver influenced two hundred years of world history, and why it matters todayThis is the story of silver's transformation from soft money during the nineteenth century to hard asset today, and how manipulations of the white metal by American president Franklin D.
The dramatic inside story of the most important case in the history of sovereign debt lawArgentina's 2001 default on $100 billion in bonds and the messy litigation that followed has had an outsized impact on sovereign debt markets, sovereign debt law, and the International Monetary Fund's policies.
