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Chapter
New Estimation of the Renminbi Regime
The chapter addresses the question: what precisely is the exchange rate regime that China has put into place since it announced a move away from the dollar peg in 2005? Is it a basket anchor with the possibili...
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Article
Mundell-Fleming Lecture: Contractionary Currency Crashes in Develo** Countries
To update a famous old statistic: a political leader in a develo** country is almost twice as likely to lose office in the six months following a currency crash as otherwise. This difference, which is highly...
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Article
Comment on "Toward a Statutory Approach to Sovereign Debt Restructuring: Lessons from Corporate Bankruptcy Practice around the World"
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Article
Panel Discussion: Promoting Better National Institutions: The Role of the IMF
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Chapter
Impact of the Euro on Members and Non-Members
It may be late in the game to debate the merits of EMU for its members. But I begin with a review of the pros and cons. The UK, Sweden and others have yet to decide whether to join, so for them the evaluation ...
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Article
Open Regionalism in a World of Continental Trade Blocs
Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to satisfy the McMillan criterion of not lowering their trade volume with outside countries, they h...
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Chapter
Country Fund Discounts and the Mexican Crisis of December 1994: Did Local Residents Turn Pessimistic Before International Investors?
It has been suggested that Mexican investors were the “front-runners” in the peso crisis of December 1994, turning pessimistic before international investors. Different expectations about their own economy, pe...
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Article
Country fund discounts and the mexican crisis of December 1994: Did local residents turn pessimistic before international investors?
It has been suggested that Mexican investors were the “front-runners” in the peso crisis of December 1994, turning pessimistic before international investors. Different expectations about their own economy, pe...
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Chapter
Is Japan Establishing a Trade Bloc in East Asia and the Pacific?
A debate began in 1991 over the advantages and disadvantages of a global trend towards three economic blocs — the Western Hemisphere, centred on the United States; Europe, centred on the European Community; an...
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Chapter
European Integration and the Regionalization of World Trade and Currencies: The Economics and the Politics
In the 1990s the possible breakup of the world economy into economic blocs has become a special focus of interest — largely in response to such projects as the European Monetary System, Europe 1992, the enlarg...
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Chapter
Recent Changes in the Financial Systems of Asian and Pacific Countries
Japan and continental Europe have recently gone into recession, joining the English-speaking world which had entered a slow-growth period in 1990. This leaves only the develo** countries of East Asia still o...
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Chapter and Conference Paper
Emerging Currency Blocks
When countries in the 19th century joined the gold standard one-by-one, they were seeking to acquire more than just stability in the values of their currencies. They were moving toward closer integration, fina...
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Chapter
International Nominal Targeting (INT): A Proposal for Overcoming Obstacles to Policy Coordination
The central theorem about the economic gains from international policy coordination which has very strong implications for the design of the international monetary system is that if countries in general set th...
