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An “intriguing plan” addressing shadow banking, regulation, and the continuing quest for financial stability (Financial Times). Years have passed since the
Rethinking the International Monetary System
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According to a recent World Bank study, the Asian crisis led to a significant rise in poverty and sharp declines in middle-class living standards in the countri
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After the 2008–9 global financial crisis, reforms to promote stability, social inclusion, and sustainability were promised but not delivered. As a result, the
The Big Problem of Small Change
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The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of y
The Global Currency Power of the US Dollar
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This book explains how the US dollar serves as the primary reserve currency for the international financial system and assesses its prospects for the future. Th